Global Rice Seeds market is slated to accrue revenue worth nearly 8.23 (USD Billion) by 2026 and record the CAGR of about 6.76% over the period from 2020 to 2026.
New York, United States - October 29, 2020 /MarketersMedia/ —
As per the Zion Market Research analysts, the valuation of the global rice seeds market is projected to attain about USD 8.23 billion by 2026, expanding at a CAGR of about 6.76% during the forecast period. Few of the prominent players active in the global rice seeds market include Bayer CropScience Limited, Savannah Seeds Private Limited, Pan Seeds Pvt. Ltd., Nuziveedu Seeds Limited (NSL), Mahyco, DuPont Pioneer, Kaveri Seeds, Mahindra Agri Solutions Pvt. Ltd., Ajeet Seeds Pvt. Ltd., Rallis India Limited, Syngenta, and Biostadt India Limited.
Changing Agricultural Practices Likely To Boost The Growth Of The Global Market
Being a staple food in developing countries like India and China, the increasing need for rice among customers is anticipated to stay a constructive factor. The global rice seeds market growth is also projected to be impacted by technologically superior agricultural practices that have in due course enhanced yield and fortified the supply. Agriculturists and Farmers have been obtaining enormous backing from private and government institutions. Further, the easy accessibility of fertilizers, agricultural credits, contract services, pesticides, and machinery has lead to a production surge to meet the elevated need. Also, farmers have been implementing knowledge-intensive technologies, apart from backing by the non-profit organizations and government by means of technical knowledge needed for enhanced crop management practices and improved produce. All of these attempts help in quality seed production, which assures freedom from seed-borne diseases & weed, germination, improved harvest, crop stands, and better profits.
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Hybrid Products Segment Of The Market Expected To Grab The Largest Share
In 2018, the highest share in the global rice seeds market was captured by the hybrid products segment. The increasing recognition of cross-breed categories on account of several benefits like improved yield, vitality, and resistance to pests & disease is projected to propel the growth of this segment in the coming period. Moreover, most of the grain-yielding countries have set up systems for hybrid seed distribution & production, system to supervise the seeds’ production, and effective quality assurance programs.
Asia Pacific Expected To Dominate The Global Market During The Forecast Period
In 2018, the biggest share in the global rice seeds market was held by Asia Pacific, followed by North America. The market expansion in Asia Pacific can be attributed to the rising implementation of hybrid rice seeds and commercial open-pollinated varieties over farm-saved seeds to boost the yield of rice in nations such as India, China, and Thailand. Development of enhanced hybrid seeds and the financial assistance offered by the government to promote hybrid seeds’ implementation over OPV or farm-saved seeds have helped the market grow in this region. The key factors limiting the implementation of hybrid seeds are their elevated price in comparison to OPV seeds and the dearth of alertness regarding the benefits of hybrids on profit margins and crop yield.
The global rice seed market is segmented as follows:
By Type
Open-pollinated varieties
Commercial hybrids
By Hybridization Technique
Two-line system
Three-line system
By Treatment
Treated
Untreated
By Grain Size
Long grains
Medium-sized grains
Short grains
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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