US Seed Market Driven by Fuel Production, Demand for Animal Feed and Increasing Demand of Fruits and Vegetables Along With Organic Products: Ken Research
12 Jun, 2019, 15:10 BST
Changing trend towards the use of organic seeds and rising mechanization along with technological advancements in agriculture practices is further augmenting the growth of the seed industry in the US
GURUGRAM, India, June 12, 2019 /PRNewswire/ -- US Seed industry is expected to register a CAGR of 1.8% in upcoming years. Huge consolidation in the market has reduced the number of major players in the US Seed market to less than five. In future, it is less likely that more consolidation may happen among the existing top players. Many new traits and seed varieties are under development and are expected to be launched in the next five years. Companies are expecting to save million in cost synergy as part of merger. BASF which acquired the seed business of Bayer is expected to become a significant player in the US seed industry as it has managed to acquire many important licenses from Bayer. Demand for organic and non GMO seeds are expected to rise and being sold at premium considering the rising demand for organic vegetables and other food products.
The rate of mechanization including use of drones and sensors for seed planting and monitoring, use of robotics for seed R&D and various other uses, upcoming culture of urban farming, hydroponics and the use of IoT (Internet of Things) in the agricultural based activities. USA is the largest market for organic food and is expected to rise at a rapid rate. Organic sector will continue to increase its penetration into the total food market and will account a major share in the food sold in US retail channels. Organic acreage is increasing in most areas of the US, while transitioning to organic corn and soybean.
The prices of Soybean are increasing and the higher producer returns provide incentives to increase plantings, and producers are expected to plant large number acres by the year 2023. Rising domestic use and export demand support a continuation of a large soybean area. This will eventually result in increased demand for soybean seeds. Corn production is expected to increase by the year 2023. Lower corn prices and increasing corn production suggest that more corn will be used for feed and residual use, fuelled by increasing meat production. The US is forecasted to remain the world's largest corn exporter. Companies are adopting strategies such as forming joint ventures and agreements in order to exploit the emerging crops such as Sorghum. The US domestic wheat seed demand is expected to remain steady, with minor gains in food use and a relatively stable demand for feed.
There is a rising need for sustainable agriculture and integrated pest management guidelines laid by governments in the US that has encouraged farmers to adopt seed coating technologies leading to healthy growth by 2023
The report titled, "US Seed Market Outlook to 2023 - By Type of Seed (Corn, Soybean, Cotton, Wheat, Sorghum, and Vegetables) and By Technology (GM/GE/Hybrid and Open Pollinated)" by Ken Research observed that the innovations in product development and R&D such as launch of various new and improved GM seeds and traits will complement the conventional seed use and it will have positive impact on the overall seed and agriculture market.
Key Segments Covered
- By Type of Crop
- Corn
- Soybean
- Cotton
- Sorghum
- Wheat
- Rice
- Oats
- Vegetable and Fruit Seeds
- Based on Type:
- Conventional seed
- GM/ Hybrid seed
- Based on Geography:
- California
- Texas
- Nebraska
- Illinois
- Iowa
- Minnesota
- Kansas
- Indiana
- Wisconsin
- North Carolina
- Other states
Key Target Audience
- Seed Manufacturers
- Associations and industrial bodies
- Agricultural institutes and universities
- Regulatory institutions
- Agricultural Seed Distributors
- Government Agencies
- NGO's Supporting Agricultural Growth and Activities
- Venture Capitalists
- Online Sales and Retailing Agencies
Time Period Captured in the Report:
- Historical Period: 2013-2018
- Forecast Period: 2019-2023
Companies Covered:
- Bayer Group (Monsanto Company)
- Dow DuPont Inc.
- Syngenta Seeds, LLC
- Agreliant Genetics, LLC
For more information on the research report, refer to below link:
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In 2012, the production of seeds in Thailand witnessed a fall of 2.4% as compared to the previous year. The production volume of the total seed industry is majorly dependent upon performance of rice seed, which account for almost 94.5% of the production volume of the total seed produced in 2013. The overall seed market has witnessed appreciable growth as at a CAGR of 3.4% during the review period of 2006-2013 in terms of production volume. Thailand seed industry is largely categorized into Rice seeds, Grain corn seeds and Vegetable seeds. Rice seeds are the most demanded and the most widely produced seeds in Thailand due to its high quality and the rising demand from world over.
The report provides a comprehensive analysis of the seeds market in India including market size, segmentation on the basis of hybrid and non-hybrid seeds, vegetable and non-vegetable seeds industry structure and regional and national players. The report also covers market in different aspects such as market size, segmentation of market on the basis of farm save and commercial seeds, import and export of seeds in the market. The report will help industry consultants, seed producing companies, suppliers and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future. The market comprises of large companies such as Nuziveedu seeds, Monsanto India, Kaveri Seeds, Dupont Pioneer, Mahyco, Syngenta and others which posses a large product portfolio of seed products.
Rising awareness among the farmers related to the benefits of using certified/ quality seeds has led to an increase in the demand for seeds over the past few years. This has resulted in an increasing willingness among the farmers to pay higher price for quality seeds.
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Ankur Gupta, Head Marketing
Ken Research Private Limited
Ankur@kenresearch.com
+91-9015378249
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SOURCE Ken Research