Northbrook, IL -- (SBWIRE) -- 01/14/2022 -- The global seed market size is estimated to account for a value of USD 63.0 billion in 2021 and is projected to grow at a CAGR of 6.6% from 2021, to reach a value of USD 86.8 billion by 2026. The growing demand for seeds from the food, beverage, animal feed, and biofuels industry is driving the growth of the market. Demand for seeds has witnessed steady growth in countries such as China and India. With these countries accounting for the largest population, an ever-increasing demand for food grains also drives the seeds market growth. In developed markets, farmers are trying to maintain the crop yield and increase their returns. This sustained approach from developed and developing countries in agricultural practices has been driving the global seeds market growth.

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By type, the genetically-modified seeds are projected to be the fastest-growing segment in the seeds market during the forecast period.
Genetically-modified seeds are projected to account for the fastest-growing segment. The Genetically modified seeds enable farmers to reduce their running costs significantly, for example agrochemical treatments, while guaranteeing a much more abundant harvest. They are therefore sold at a significantly higher price than conventional seeds.

By crop type, the cereals & grains is projected to dominate the seeds industry during the forecast period.
The cereals & grains segment is projected to hold the largest seed market share during the forecast period Owing to factors such as the widespread use of grains as a staple food in many Asian and Southeast Asian countries. In the past few years, countries such as China have emerged as major exporters of grains to meet the requirement of neighboring economies. Crops such as corn are widely utilized in both the food and feed industries. With the rising market for biofuels, crops such as sorghum are also being produced on a large scale. An increase in awareness for protein- and vitamin-rich diets is driving the demand for fruits and vegetable seeds globally.

By trait, the other traits segment is projected to dominate the seeds market during the forecast period.
The market for crops with other traits is growing significantly in the market. The increasing adoption of crops with multiple traits has allowed for the reduction in usage of herbicides and insecticides and thereby reduced the cost of cultivation. Companies such as Syngenta Group (Switzerland) are offering seeds with stacked traits through its commercial line—Agrisure. The company's R&D is being directed toward the development of new molecular stacks, which would allow hybrids to have three or more traits within it. This way, the farmers would be able to attain higher yield and greater resistance to pest and herbicides.

Asia Pacific to be the fastest growing market during the forecast period.
The seeds market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. Supportive regulations and an increase in food and feed demand are also driving their adoption, along with subsidy provisions for their acceptance in these markets, especially in the Asia Pacific region.

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Some of the major players operating in the seeds market include BASF SE (Germany), Bayer AG (Germany), Syngenta Group (Switzerland), KWS SAAT SE (Germany), Land O' Lakes (US), Sakata Seed Corporation (Japan), Groupe Limagrain (France), Corteva Agriscience (US), United Phosphorous Limited (India), DLF (Denmark), Longping Hi-tech (China), Rallis India Limited (India), Enza Zaden (The Netherlands), Takii & Co. Ltd (Japan), and Barenbrug Holding B.V (Netherlands). They also have manufacturing facilities along with strong distribution networks across these regions.

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