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Pune, India, 2nd April, 2019: Crop production majorly depends on the quality of seeds used while cultivation. Although seeds are relatively low cost products, all other phases of crop cultivation depend on the quality of seed. A good quality seed allows sustainable farming and ensures for a profitable produce for manufactures. Growing emphasis of commercial seeds in the agriculture industry and increased efforts to develop efficient-produce seeds are boosting the Global Commercial Seeds Market. According to a report published by Fortune Business Insights, titled ‘Commercial Seed: Global Market Analysis, Insights and Forecasts, 2018-2025’, the market was valued at $US 40.70 Bn in 2017 and is expected to rise at a CAGR of 4.85%. A considerable rise in investments in research and development, aimed at betterment of commercial seeds has influenced Fortune Business Insights to predict a market value of $US 61.32 Bn by the end of 2025.
With recent mergers and acquisitions and a strong product portfolio, Bayer Crop Science and Dow Du Pont are likely to dominate the global commercial seed market. The global commercial seeds market was consolidated in nature, as few companies together accounted for majority of the global market share. Furthermore increase in merger and acqusitions among leading companies have added consolidation to the nature of this market. Recent strategies adopted by key market players such as Bayer-Monsanto, ChemChina-Syngenta, and DowDupont have had a major impact on the global commercial seeds market, thereby creating a healthy market competition.
Increasing Awareness of Factors Affecting Quality and Yield Of Commercial Seeds to Boost Global Commercial Seeds Market
Rising government emphasis on the agriculture industry has created numerous pathways for enhanced seed production. With a view to increase quality of crops such, gorvernments around the world have set up numerous awareness programs to educate farmers and other producers for better crop yield. Furthermore, numerous subsidies have been distributed to crop producers to promote seed cultivation and ensure seamless management of crops throughout the production cycle. A low initial cost for crop production creates a balance in supply-demand ratio and this is a major factor driving the global commercial seeds market.
Growing adoption of biotech and hybrid seeds is driving the global commercial seeds market. Recent innovations in seed cultivation aimed at improving various aspects such as time to market and quality of yield are boosting the global commercial seeds market. Furthermore, developments in commercial seed production pertaining to abiotic stress tolerance and pest resistance are improving the quantitave aspect of commercial seed production. The aforementioned factors are favoring the global commercial seeds market, thereby creating a huge potential for growth in the forecast period.
Genetically Modified Seeds to Emerge as the Leading Segment
Genetically modified (GM) seeds account for more than 50% of the global seed production. According to the International Service for the Acquisition of Agri-biotech Applications (ISAAA), market share of GM crops increased by 8.7% in 2017, mainly mainly resulting from the contribution from countries such as the U.S., Canada, and India.
Fruits and Vegetable Segment to Witness Strong Growth
Rising demand for health-conscious foods is likely to boost the fruits and vegetable segment in the forecast period. The advent of hybrid vegetable seeds and their growing popularity among consumers are likely to favor the fruit and vegetable segment in the forthcoming years.
Despite North America’s Stronghold, Commercial Seeds Market in Asia Pacific to Witness High Growth
Currently, North America is the leading region in the global commercial seeds market and is approximately valued at US$ 16.21Bn. With favorable climate conditions and increasing awareness towards organic farming, Asia Pacific is will account for a high share of the global commercial seeds market in the forecast period.
Browse Complete Related Reports @ https://www.fortunebusinessinsights.com/industry-reports/commercial-seed-market-100078
The global commercial seeds market is segmented based on:
Segmentation of the Global Commercial Seed Market
· Genetically Modified Seeds
· Conventional Seeds
By Crop Type
· Cereals (Corn, Wheat, Rice, and Barley)
· Oilseeds (Soybean, Canola, Cotton, and Sunflower)
· Fruits & Vegetables (Tomato, Pepper, Brassica, and Melons)
· Other Crops
· North America (U.S., Canada, and Mexico)
· Europe (Spain, France, Italy, Germany, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Australia, Japan, Korea, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of MEA)