Global Seeds Market Size By Type (Conventional Seeds, GM Seeds), By Application (Farmland, Greenhouse), By Region, And Segment Forecasts, 2023 to 2032

The Global Seeds Market was valued at USD 75.1 billion in 2023 and is projected to surpass USD 130.2 billion by 2031, registering a CAGR of 7.2% during the forecast period from 2023 to 2031. The market's expansion is driven by rising demand for high-yielding crop varieties, increasing adoption of genetically modified (GM) seeds, and technological advancements in seed treatment. Furthermore, the growing need to ensure food security amid population growth is pushing governments and farmers to invest in high-quality seeds, fostering market growth.

Drivers

Rising Global Food Demand

With the world population expected to exceed 9 billion by 2050, the demand for food production is rising significantly. High-yielding and disease-resistant seeds are becoming crucial to enhance agricultural productivity.

Technological Advancements in Seed Development

Advancements in biotechnology, such as hybridization, genetic engineering, and seed treatment technologies, are improving crop resilience and yield, driving market growth.

Increasing Adoption of GM Seeds

Genetically modified (GM) seeds offer enhanced resistance to pests, diseases, and extreme weather conditions, leading to higher crop productivity. Governments in various regions are gradually approving GM crops, propelling demand.

Restraints

Stringent Regulatory Frameworks

The commercialization of seeds, particularly GM seeds, faces stringent government regulations and lengthy approval processes, which can hinder market expansion.

High Costs Associated with Advanced Seeds

Hybrid and GM seeds are relatively more expensive than conventional seeds, making them less accessible to small-scale farmers in developing regions.

Opportunity

Growth of Organic and Non-GM Seed Demand

The increasing shift towards organic farming and consumer preference for non-GM foods is creating a lucrative market for organic and naturally bred seeds.

Expansion into Emerging Markets

Countries in Asia-Pacific, Latin America, and Africa are witnessing growing agricultural investments, offering significant opportunities for market players to expand their reach.

Market by Crop Type Insights

Cereals & Grains Segment Dominates

The Cereals & Grains segment held the largest market share in 2023, accounting for over 40% of the total revenue. Crops such as wheat, rice, and corn are staple food sources worldwide, and their increasing cultivation is driving demand for high-quality seeds.

Fruits & Vegetables Witness Fastest Growth

The Fruits & Vegetables segment is expected to grow at the fastest rate during the forecast period, driven by rising consumer awareness regarding healthy diets and increased production of high-value crops.

Market by Seed Type Insights

Hybrid Seeds Lead Market Share

Hybrid seeds emerged as the dominant segment in 2023 due to their superior yield potential, disease resistance, and adaptability to different climatic conditions.

GM Seeds Show Steady Growth

The GM seeds segment is expected to expand steadily due to increasing adoption in regions such as North America and Latin America, where biotech crops are widely accepted.

Market by Regional Insights

North America Leads the Market

North America held the largest share of the seeds market in 2023, supported by widespread adoption of GM crops, strong R&D investments, and favorable government policies promoting modern agricultural techniques.

Asia-Pacific Witnesses Fastest Growth

Asia-Pacific is anticipated to experience the highest CAGR during the forecast period, driven by increasing agricultural activities in India, China, and Southeast Asian countries, coupled with government initiatives promoting hybrid seed usage.

Competitive Scenario

Key players in the Global Seeds Market include Bayer AG, Corteva Agriscience, Syngenta, BASF SE, KWS SAAT SE & Co. KGaA, Sakata Seed Corporation, Rijk Zwaan, UPL Limited, and Limagrain. These companies are focusing on seed innovation, partnerships, and geographical expansion to strengthen their market position.

Recent Market Developments

Bayer AG introduced a new drought-resistant maize seed variety in 2023 to combat climate change challenges.

Corteva Agriscience launched an advanced soybean seed with improved pest resistance, expanding its GM crop portfolio.

Syngenta partnered with agricultural research institutions to develop high-yielding hybrid rice varieties.

Scope of Work – Global Seeds Market