Seed is a method of reproducing, multiplying, or breeding new plants that are done through the use of seeds. Farmers are depending on purchasing seeds from a market with better traits rather than reckon on seeds from previous seasons harvest. Introduction of genetically modified crops augmented the seed market and high yielding cultivars/seeds along with other agriculture inputs such as irrigation, crop protection products, and fertilisers are being used to attain perfect utilisation in the agriculture sector.
Asia-PacificSeed Market size is projected to reach 307.8 Million by the end of 2024 with a CAGR of XX% during the forecast period. Key Parameters promoting the market growth include rising adoption of biotech crops across the world, increase in usage of biofuels and animal feeds, necessity to increase food production, increasing acceptance and area under cultivation of GM Crops, decreasing per capita Farmland, growing demand for grains, oils & vegetables, increasing investments in agriculture research, and focus on high-yielding varieties.
Due to the increasing demand for food and feed and rapid decline in arable land, the seed market is growing at a significant
Asia-PacificSeed Market is classified by type, by crop type, by traits, by seed treatment, by product, by geography. By type, the Asia-Pacific Seed Market is classified as genetically modified seeds, conventional seeds.
By Crop Type, these are classified as Oilseeds, cereals & grain seeds, fruits & Vegetables. Grain Seed segment has the highest market. In Grain Seeds, Corn segment is having the most significant market share followed by soybean in oilseed segment. By Traits, these are classified as herbicide-tolerant and insecticide-resistant. By seed treatment, these are classified as treated and non-treated. By product, these are classified as Non-GM/Hybrid Seeds, GM Seeds, and Varietal Seeds. Non-GM Seeds reckon most significant market share of more than 50% followed by GM Seeds. In Asia-Pacific, China and India are expected to have the profitable growth opportunities owing to the considerable increase in population.
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