Global Commercial Seed Market to US$53.3 bn by 2018 driven by Rising Demand for Oleochemicals and Animal Feed
Albany, NY -- (SBWIRE) -- 05/30/2018 -- Transparency Market Research (TMR) has published a research report on the global commercial seed market. According to the report, the market was valued US$34.5 bn in 2011. The market is further expected to expand at a CAGR of 9.90% during the period from 2012 to 2018 and reach a value of US$53.3 bn by the end of the forecast period.The research report, titled "Commercial Seeds Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018", states that rise in the global population, increasing usage of biofuels, and augmenting demand for animal feed and oleochemicals are fueling the global commercial seed market.
Commercial seeds and bio-seeds (GM seeds) are the two main components of the global commercial seeds market, states the report. In the commercial seeds segment, maize crop led the global market in 2011 with 40% of the market in term of revenue, while soybean and other vegetable seeds collectively accounted for more than 30% of the overall market, in the same year. The market for maize crops is expected to report the fastest growth over the forecast period, cites the market study.
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The challenges faced by the worldwide commercial seed market are also explained in this report at length. The market faces challenge from patent-related issues. Several companies have successfully gained patents on advanced methods of plant breeding, restricting others to conventional methods. These patents have also restricted others players from using specified genetic traits in the procedure of plant breeding.The global commercial seed market has become increasingly consolidated due to patent hegemony and 75% of the total market has been captured by top ten market players. Apart from this, the rising concerns over risk associated with genetically modifying crops are also hampers the growth of this market to a significant extent, states the report.
The commercial seed market in Asia Pacific and Europe captured second and third position, respectively. The report predicts extensive growth in the Asia Pacific commercial seed market owing to rise in demand for commercial seed from developing Asian economies during the forecast period.The major participants in the global commercial seed market are Monsanto Co., Syngenta Int. AG, DuPont Pioneer, Vilmorin & Cie SA, Bayer CropScience, KWS SAAT AG, Dow AgroSciences, Takii & Co. Ltd., Sakata Seed Corp., DLF-Trifolium, and AgReliant Genetics LLC. Monsanto led the global market with 20% share in 2011, reports the market study.
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Further, the report discusses the GM Seeds market, in which the soybean seed segment witnessed the highest demand and contributed more than 40% of the total revenue generated by the market in 2011. However, the market for corn is likely to report the fastest growth in this market segment during the forecast period.The report also analyzes the global commercial seed market in terms of region. North America, Asia Pacific, Europe, and the Rest of the World are the major regional markets for commercial seed. In 2011, the North America commercial seed market accounted for more than 30% of the global market, positioning itself on the top.