Global Commercial Seed Market to Rise at 9.90% CAGR from 2012 to 2018, Increasing Global Population Propels Growth
Albany, NY -- (SBWIRE) -- 07/19/2016 -- The global commercial seeds market will experience substantial growth in the coming few years in the sectors of commercial seeds and biotech/genetically modified seeds. On the basis of ownership, the global commercial seeds market is segmented into proprietary seeds and non-proprietary seeds. Seeds owned and marketed by a company fall into the category of proprietary seeds and this sector held over 85% of the market in 2011. On the other hand, non-proprietary seeds are the seeds bought and sold by local farmers and plant breeders.
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The market for bioseeds or genetically modified (GM) seeds has been experiencing steady growth in the past few years. Furthermore, it is expected that newer varieties of GM seeds will be launched in the coming few years.
Booming Global Population to Drive Global Commercial Seeds Market
The growth prospects of the global market for commercial seeds are bright due to several drivers. World population is increasing at a rapid pace, which has resulted in a higher demand for food. Furthermore, there is a high demand for animal feed, biofuels, and oleochemicals. This will in turn fuel the growth of the global commercial seeds market. Another factor driving the global commercial seeds market is the accelerating avenues of research and development for biotech seeds.
According to a market intelligence agency, the global commercial seeds market will expand at a marked 9.9% CAGR during the forecasting horizon of 2012 to 2018. The global commercial seeds market in 2011 was estimated at US$34.50 billion and is expected to reach a value of US$53.32 billion by end of 2018. The segment of bioseeds in the global commercial seeds market was estimated at US$15.60 billion in the year 2011 and is anticipated to reach a value of US$30.21 billion by 2018. The bioseeds market will display a CAGR of 9.9% during the forecast period.
Patent Monopoly to Suppress Global Commercial Seeds Market
Nevertheless, the market will be challenged by a number of factors. For example, patent and monopoly issues in the market will suppress the market's growth. Furthermore, safety concerns regarding genetically modified crops will also limit the growth of the global commercial seeds market to an extent. Patents on GM seeds prevent other companies from using specific genetic traits in their plant breeding.
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On the other hand, factors such as benefits from genetically modified seeds and the elevated standards of global farming will provide good growth opportunities for players operating in this market. Companies in the global commercial seeds market have become quite successful in achieving patents over even traditional modes of plant breeding. In 2011, the top 10 leading companies in the market held a massive 75% market share as a result of patent hegemony. The top companies operating in the global commercial seeds market are Monsanto, Syngenta International, DuPont, Vilmorin & Cie, Bayer CropScience, KWS SAAT AG, AgReliant Genetics, Takii, Sakata Seed, and DLF-Trifolium.
Corn Seeds Sector to Lead Global Commercial Seeds Market
The global commercial seeds market is segmented according to product into cotton, canola, rice, soybean, maize/corn, cereals, vegetables, and others such as sunflower and sugarbeet. Under the segment of GM seeds, the products are maize/corn, cotton, canola, and soybean. Corn seeds, which are grown for commercial purposes, hold the largest share (over 40%) in the global commercial seeds market and the segment is expected to hold a value of US$24.26 billion by 2018. Together, soybean, vegetable, and cereals seeds are the second largest sector and held a 35% market share on the basis of consumption in 2011.
Geographically, North America held the largest market share of 30% in the global commercial seeds market in 2011. However, Asia Pacific and Latin America are anticipated to emerge as the fastest growing regional commercial seed markets in the foreseeable future owing to the evolving farming techniques in these regions.
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