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.
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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