CHICAGO, April 5, 2021 /PRNewswire/ — According to the new market research report “Seeds Market by Type (Genetically Modified & Conventional), Trait (Herbicide Tolerance, Insect Resistance), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), and Region – Global Forecast to 2026“, published by MarketsandMarkets™, the global Seeds Market is estimated to be valued at USD 63.0 billion in 2021 and is expected to reach a value of USD 86.8 billion by 2026, growing at a CAGR of 6.6% during the forecast period. Factors such as increase in seed replacement rate, availability of hybrid seeds, advent of new breeding technologies and adoption of genetically modified crops are the main drivers of the seeds market.
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The genetically-modified segment is estimated to account for a larger market share, in terms of value, in 2020
Genetically-modified seeds are projected to account for the largest and fastest-growing segment. The market for genetically modified seeds is projected to grow robustly in the Americas, as the use of genetically modified seeds has allowed the practice of reduced or no-tillage production techniques in these regions. High adoption rates reflect farmer satisfaction with the genetically modified products that offer substantial benefits ranging from more convenient and flexible crop management, lower cost of production, higher productivity and net returns per hectare, and a cleaner environment through decreased use of conventional pesticides, which collectively contribute to a more sustainable agriculture.
Browse in-depth TOC on “Seeds Market“
285 – Tables
93 – Figures
332 – Pages
The other traits segment is estimated to hold the largest market in the seeds industry, in terms of value, in 2020
The trend for increased use of other traits is expected to continue as more stacks are offered for farmer’s use in the market such as the BolgardIII/RRFlex cotton. The deployment of other traits of different Bt and HT genes is becoming increasingly important and is most prevalent in the US, Argentina, and Brazil. Stacked traits help the farmer overcome issues such as pests, environmental stresses, diseases, and resistance to weeds. The stacking of genes helps improve and simplify the process of pest management.
The fruits & vegetables segment, by crop type, is projected to grow at the highest CAGR during forecast period.
Fruits & vegetables segment is projected to grow at the highest CAGR during the forecast period due to the growing demand for vegetables such as tomatoes and eggplants. Tomatoes are among the most used ingredients in the preparation of salads; the adoption of a healthy diet among consumers, alongside growing demand for these vegetables in the food processing and fast-food sectors, has been…
Read More: Seeds Market worth $86.8 billion by 2026