2024). Asia-Pacific is the largest market for cereals and grains seeds and is expected to remain dominant during the forecast period. - In developing markets, there has been a noticeable improvement in the seed replacement rates over the past decade, especially in the case of cereal crops.
New York, Oct. 17, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Grain Seed Market - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05821462/?utm_source=GNW
For example, in the case of India, the seed replacement rates in maize (corn) stood at almost 80% in the crop year 2017-2018.
- The increase in seed replacement rates has been a result of increased usage of hybrid seed. In China, it has been estimated that the area under hybrid rice constituted almost 60% of the total planted area under the crop.
- The market faces imminent challenges in terms of attaining regulatory approvals for the adoption of genetically modified food crops in major markets such as the European Union and in India. Approvals for various GM traits can provide an inorganic fillip to the growth in the market over the forecast period.
Scope of the Report
The report covers the seeds used for sowing for major cereal crops, including those for minor cereals and millets. The crops covered in the scope of the report includes rice, wheat, maize (corn), and sorghum, which are the four cereal crops grown on the majority of the global arable land. Other cereals included in the scope are minor cereals and millets such as pearl millet, finger millet, etc. The scope of the report excludes seeds used for forage, such as forage maize (corn), forage sorghum, etc. Moreover, other row crops such as pulses, oilseeds, cotton, and sugarcane, among others are beyond the report scope.
The market has also been segmented based on Technology to cover all the major technologies used in the manufacturing of grain seeds, including genetically modified technology.
Key Market Trends
Increasing Demand for Animal Feed
The international demand for cereals and grains seed is increasing due to a significant increase in animal feed demand. Production of crops like maize, soybean, and wheat has significantly increased due to an increasing livestock population driving the demand from the feed industry. global livestock population has witnessed consistent growth over the years. In 2017, the global usage of maize in the animal feed industry was 613 million metric ton, which was a 2% increase from the year 2016. In 2017, the global usage of soybean and wheat in the animal feed industry was 20 million metric ton and 144 million metric ton, respectively. Increasing demand from the animal feed industry is putting stress on the production of grains for human consumption and farmers are responding with improved yields through the adoption of high yielding varieties and hybrid seeds. This trend is expected to continue well into the forecast period and this factor is expected to drive the global market for grain seeds.
Asia-Pacific to Dominate the Cereals and Grains Seed Market.
Asia-Pacific is the largest market for grain seeds, accounting for more than 30% of the global demand. The growing population in Asian countries, mainly in China and India, has a continuously increasing demand for food production and is driving the seed market for cereal and grains in the region. The highest increases in seed replacement rates and hybridization have been observed in countries in the Asia-Pacific and the number of farmers utilizing high-quality seeds has increased. Asia-Pacific is expected to retain its position as the largest market over the forecast period.
The Global Grain Seed Market is consolidated with the top five companies occupying almost 50% of the market share. With the merger of Dow Agrosciences and DuPont and the subsequent formation of Corteva Agriscience as the company engaged in the merged entity’s agricultural business, and the acquisition of Monsanto Company by Bayer CropScience has further consolidated the industry. Other major regional players occupy smaller shares and there is also a huge presence of smaller seed companies occupying major local markets in countries such as India and China.
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