Global Seeds Market Report and Forecast 2024-2032

Global Seeds Market Size

The global seeds market size reached almost USD 75.02 billion in the year 2023. The market is further expected to grow at a CAGR of 7% between 2024 and 2032 to reach a value of almost USD 112.64 billion by 2032.

Seeds perform several functions for the plant, such as dispersing to new locations, providing nourishment to the embryo, and dormancy in unfavourable weather conditions. Seeds are classified based on the number of cotyledons (seed leaves) in the embryo, with dicots having two and monocots one. Seeds have a wide range of applications across various fields. They are the primary means of propagation for many plants, including crops. Their selection and breeding are crucial for improving crop yields and qualities.

Many seeds, such as grains, legumes, and nuts, are vital food sources rich in proteins, fats, and carbohydrates. Seeds like sunflower, rapeseed, and flaxseed are used to extract oils for cooking and industrial purposes. Some of them also have medicinal properties and are used in traditional and modern medicine. The global seeds market growth is being driven by the growing food demands of the rising population and the increased demand for oilseeds due to their diverse applications.

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Seeds Market Segmentation

The market is segmented on the basis of crop type into:

• Oilseeds

• Cereals and Grains

• Fruits and Vegetables

• Others

Oilseeds are further divided into soybean, sunflower, cotton, and canola/rapeseed. Cereals and grains are sub-divided into corn, wheat, rice, and sorghum. Fruits and vegetables are further divided into tomatoes, melons, brassica, pepper, lettuce, onion, and carrot. Other seeds are further divided into alfalfa, clovers, and other forage, flower seed, and turf grasses.

Currently, the oilseeds segment accounts for the majority of the seeds market share. The increasing demand for healthy and organic oilseed-processed products, molecular breeding in oilseeds, and public-private partnerships in varietal development are some of the key drivers. Furthermore, sunflower seeds, known for their high protein and calcium content, are expected to have a significant demand in the coming years.

A diverse range of oilseeds, including copra, cottonseed, palm kernel, peanut, rapeseed, soybean, and sunflower seeds, are cultivated for oil extraction. The oil extracted is used in food products for human consumption, while the residue is used as animal feed. The edible oil extracted from oilseeds is also a feedstock for biodiesel production.

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On the basis of type, the market is bifurcated into:

• Genetically Modified 

• Conventional

Presently, the conventional seeds market exhibits an upward trajectory, followed by the market for genetically modified seeds. Conventional seeds are those not genetically modified and are produced through traditional breeding methods. They are crucial in agriculture for their adaptability to various environmental conditions and their natural resistance to pests and diseases. These seeds are essential in maintaining biodiversity and traditional farming practices.

They are widely used in various crop types, including cereals, grains, oilseeds, pulses, fruits, and vegetables. Conventional seeds are favoured in organic farming and by farmers and consumers who prefer non-GMO products.

On the basis of genetically modified seed traits, the market is divided into:

• Herbicide-Tolerant

• Insecticide-Resistant

• Other Stacked Traits

Amongst all of these, herbicide-tolerant seeds demonstrate a clear dominance in the market. The demand for herbicide-tolerant seeds in the global market is robust, driven by their ability to withstand specific herbicides that would otherwise damage or kill the plant. This trait allows farmers to control weeds effectively without harming the crops.

Herbicide-tolerant seeds are particularly popular in large-scale, mechanised farming practices where efficient weed control is essential for maintaining high crop yields; this demand contributes to the overall seeds market revenue. The adoption of these seeds is significant in crops like soybean, corn, and cotton, especially in regions with intensive farming practices.

On the basis of treatment, the market is categorised into:

• Treated

• Non-Treated

Currently, treated variants dominate the market. These seeds are in high demand, particularly for their enhanced protection against pests, diseases, and environmental conditions. These seeds are coated with fungicides, insecticides, or other protective chemicals to improve germination rates and seedling health. Treated seeds are widely used in both commercial and subsistence farming to increase crop yields and reduce the risk of crop failure.

They are particularly beneficial in regions with challenging environmental conditions or high pest and disease pressures. Their applications span across various crop types, including cereals, grains, vegetables, and fruits.

On the basis of seed availability, the market is bifurcated into:

• Commercial 

• Saved

The demand for commercial seeds in the market is driven by the need for high-yield, disease-resistant, and climate-adaptable varieties. These seeds, produced and sold by seed companies, are often genetically improved or treated for better performance.

Commercial seeds are crucial for modern agriculture, meeting the needs of large-scale farms and ensuring consistent crop quality and yield. They are essential in meeting global food production challenges, especially with increasing population and changing climate conditions.

The report also covers the major regional markets for seeds, which are as follows:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Seeds Market Analysis

The market is being supported by the growing population across the globe due to which the demand for food and food production is increasing. Furthermore, owing to rapid urbanisation, the availability of per capita arable land has decreased. However, with the advent of genetically modified (GM) seeds, farmers are now able to enhance the efficiency of their farmlands as GM variants have more yield than non-GM variants. This is expected to drive the demand for GM seeds all over the world, further contributing to the seeds market demand.

In addition to this, in several countries, the government is encouraging the application of biofuel owing to its environmental benefits, further accelerating the demand for crops like soybean and corn, augmenting the demand for seeds of these crops. Expanding applications of biofuels can be attributed to the environmental advantages offered by the same and increasing focus on lowering carbon emissions globally. Besides, due to economic growth and increasing disposable incomes, the demand for agricultural produce from the food as well as non-food sectors has constantly been growing in a number of emerging markets, like India, China, the Middle East, and others, thereby invigorating the market growth in the forecast period.

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Market Share by Region

The Asia Pacific region holds the largest share of the overall seeds market value. This prominence is attributed to the region's extensive agricultural production and increasing seed replacement rate. The Asia Pacific region encompasses a wide range of climates and agricultural zones, from the temperate zones of China and Japan to the tropical environments in Southeast Asia. This diversity results in a wide variety of crops being cultivated, each requiring specific seed types.

There is a strong demand for both food and cash crops in the region. Rice, wheat, and maize are staple food crops with a high demand for seeds. Many governments in the region actively support the agricultural sector through subsidies, research and development initiatives, and policies promoting the use of improved seed varieties.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global seeds market, covering their competitive landscape, capacity, and latest developments like mergers and acquisitions, investments, capacity expansions, and plant turnarounds:

• Bayer AG

• Syngenta Group Co., Ltd.

• Groupe Limagrain Holding

• Corteva, Inc

• Sakata Seeds Corporation

• Rallis India Limited

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

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