A Seed is an undeveloped plant enclosed in a protective outer covering. Seed is an ovule with seed coat, embryo, and nutritive tissue. Seed propagation increases genetic variation forming hybrids with superior qualities and effective for producing virus-free plants. It is a method of reproducing, multiplying, or breeding new plants that are done through the use of seeds.
Global Seed Market size is projected to reach 113.32 Billion by the end of 2024 with a CAGR of 10.1% 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 rate. Long GM Approval Timelines and government regulations, extensive research in stabilising and introducing new seed varieties with novel
Global Seed Market is classified by type, by crop type, by traits, by seed treatment, by product, by geography. By type,theGlobal 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. North America is accounted for the most significant market share for around 37% of the global seed market followed by Europe. 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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