Biotech Seeds Market Demand, Players, and Competitive Strategies
The global biotech seeds market is subject to witness a substantial growth due to the
growing need for improving overall agriculture productivity to sustain
ever-growing population across the globe. Biotech seeds offer higher resistance
to insects and fungicides, thus driving market demand in the past few years.
Incorporation of biotechnologies in agriculture sector such as seed enhancement
technologies is expected to favor market growth over the forecast period.
Seed enhancement
technology has led to development of biotech seeds, which are gaining
widespread attention for their capability to confer greater disease resistance
in seeds. Biotech seeds enhances seed vigor, thus modifying seed emergence
capabilities. Globally, market is anticipated to grow at a CAGR of 9.87% in the
forecast period, providing numerous opportunities for market players to invest for
research and development in the biotech seeds market.
Use of biotech seeds
offer advantages such as higher nutritional content, higher yield and improved
quality of crops. Above-mentioned factors are expected to fuel market demand
over the forecast period. Furthermore, higher approval rate from regional as
well as international authorities regarding use of biotech seeds is predicted
to favor market expansion across the globe. Increasing adoption of biotech
seeds from Asia Pacific region, particularly in developing economies such as
India & China for improving overall agriculture yield to sustain
ever-growing population is projected to stimulate market growth over the next
seven years.
Furthermore, increased
number of patents granted by India & China in biotech technology is
immensely contributing to market growth in the region over the past few years.
Growing importance towards improvements in quality of seeds for incorporating
various production methods and crop protection strategies is estimated to drive
market expansion over the next seven years. Biotech seeds not only serves as
delivery mechanism for plants but also enhances plant genetics.
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Other advantages of biotech seeds
include protection against diseases & fungicide, and longer lifecycle of
seeds. These actors are significantly contributing to high-end market demand in
the recent years. Biotech seed are also used to enhance germination rate and
offer uniformity, thus overcoming seed dormancy. Biotech seeds are hydrated in
a specified manner, thereby providing enough water to initiate the metabolic
processes of germination.
The market is broadly categorized into
four major segments based on the product type such as soybean seeds, corn
seeds, cottonseeds, and canola seeds. The soybean seeds is considered as one of
the rapid growing segment in the biotech seeds market with substantial revenue
generation in the last few years. Growing popularity of the soybean seeds
segment is attributed to the increasing demand from Asia Pacific region and
higher market penetration. The corn seeds segment has also witnessed
substantial growth owing to the rise in the demands for biofuels.
The market is divided by region as
North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation
of latest technologies, favorable laws & regulation associated with the use
of biotech seeds, higher approval rate, rise in the level of awareness among
farmers, increase in the number of research & development activities in the
region and existence of well-established infrastructure.
Asia-Pacific region is predicted to
hold major market share in the biotech seeds market with massive growth in
forecast period. Countries such as India, China and Singapore are leading the
Asia-Pacific market with increasing agricultural activities to sustain
ever-growing population, rising disposable income, growing number of patent
regarding incorporation of biotech seeds, and significant investment by leading
industry players considering potential growth opportunities in the region. The
key players in the biotech seeds market are Bayer AG, The Dow Chemical Co., KWS
SAAT SE, Limagrain Group, Inc., The Monsanto Co., and Syngenta AG.
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