According to a new report published by Allied Market Research, titled, “Hybrid Seeds Market by Crop, Duration, Seed Treatment and Farm Type: Global Opportunity Analysis and Industry Forecast, 2022-2031,”
The global hybrid seeds market size was valued at $59,555.2 million in 2020, and is estimated to reach $166,189.8 million by 2031, registering a CAGR of 9.6% from 2022 to 2031.
Hybrid seeds are developed through cross pollination of two diverse varieties. This highly selective and specific plant breeding is performed to bring together different traits from chosen varieties in the resulting seed. Hybrid seeds assist manufacturers to produce F1 hybrid plants with enhanced characteristics, such as enhanced uniformity, better yield, disease resistance, and improved color. Clonal propagation and open pollination are alternatives to hybridization. Increase in usage of hybrid seeds with several advanced traits, such as pelleting & seed coatings, biological & mechanical innovations related to farms, introduction of enhanced hybrid seed varieties, and decline in arable land, and diversification of diets are major factors that drive the market growth globally. Global population is estimated to reach 9 billion by 2050, and is expected to require twice the food, which could be produced from constant land area. More production is anticipated to be accomplished from less land only by using the combination of quality seeds, quality inputs, and enhancing farm practices.
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However, change in climatic conditions and the fact that hybrid seeds cannot be reproduced as two different types of genes in F1 hybrid are segregated in the offspring, resulting in an extremely variable progeny limit the market growth. Diversified demand for hybrid crops in the emerging countries and technology-driven agriculture in the developed countries are expected to provide lucrative opportunities for the expansion.
Outbreak of COVID-19 negatively affected the growth of the hybrid seeds market in 2020. Disruption in supply chain and transportation, increase in cost of seeds and its limited production are some of the major factors affected the growth of the market in 2020.
The hybrid seeds market segmented into crop, duration seed treatment, farm type ,and region. On the basis of crop, the market is categorized into field crops (cotton, corn, rice, millet, sunflower, and sorghum) and fruits & vegetable crops (tomato, okra, chilli, cauliflower, cabbage, gourds, watermelon, cucumber, and others). By duration, it is segmented into short-term, medium-term, and long-term. Depending on seed treatment, it is segmented into treated and untreated. On the basis of farm type, market is bifurcated into indoor and outdoor. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, Turkey, and rest of LAMEA).
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According to the hybrid seeds market trends, on the basis of crop, the fruit & vegetable crops was valued at $40,951.5 million in 2020, and is projected to reach $118,878.4 million by 2031, growing at a CAGR of 10.0% from 2022 to 2031. In 2020, fruit & vegetable crops segment accounted for more than half of the market, in terms of revenue, due to shift in food usage from cereal consumption to vegetables in the emerging economies, such as India, and increase in consumer migration to different countries with varying food habits. Increase demand for fruits and vegetables for household and commercial consumption is further garner the demand for highly efficient and productive hybrid seeds.
On the basis of seed treatment, the treated segment was accounted for major share in global hybrid seeds market and is expected sustain its share throughout the hybrid seeds market forecast period. Treated seeds accounted for the maximum share, in terms of both volume and revenue, in 2020 as these seeds save post sowing cost of spraying and make crops tolerant to various soil born and other diseases. Furthermore, treated hybrid seeds assist to increase the productivity and provide benefits to farmers in terms of cost.
By farm type, indoor segment has gained major share in the global hybrid seeds market and is expected sustain its share during the forecast period. Indoor farms grow at the highest rate in hybrid seeds market as indoor farming offers ability to produce more with utilization of less resources. Indoor horticulture is 4,000x more productive as compared to conventional outdoor commodity farming. Furthermore, government providing subsidies to farmers to increase area under indoor farming.
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According to the hybrid seeds market analysis, Asia-Pacific and LAMEA collectively accounted for more than half of the share to the global hybrid seeds market revenue, in 2020. In the same year, Asia-Pacific dominated the market, owing to the increase in demand of enhanced agricultural products. Furthermore, Government supporting the hybrid seeds production and supply and indoor farming owing to increasing scarcity of water and decreasing fertility of the soil and growing demand for agriculture produces.
The key players profiled in this report include Bayer AG, Biostadt India limited, Corteva Agriscience, Crystal Crop Protection Pvt. Ltd., Emerald seed company, Kaveri seed company, KWS SAAT SE & Co., Mahyco seeds ltd., Syngenta Crop Protection AG, and UPL Limited.
Key Findings Of The Study
In 2020, depending on crop, the field crops segment acquired $18,603.7 million, garnering 31.2% of the global market share.
In 2020, by duration, the long-term segment acquired $16,564.6 million, exhibiting 27.8% of the global market share.
In 2020, by seed treatment, the treated segment was valued at $54,899.4 million, accounting for 92.2% of the market share.
India was the most prominent market in Asia-Pacific in 2020, and is projected to reach $51,780.8 million by 2031, growing at a CAGR of 10.0% during the forecast period.
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