Seed is the basic and most critical input for sustainable agriculture. The response of all other inputs depends on quality of seeds to a large extent. It is estimated that the direct contribution of quality seed alone to the total production is about 15 to 20%. Thus, seed is the most vital input for crop production. The global seed market is bifurcated into two major sectors: Commercial seeds sector and Non-commercial seeds sector. Commercial seeds are the seeds sown for production of an intended crop or used as animal feed or industrial raw material. Based on type, commercial seeds can be classified as conventional seeds and genetically modified (GM) seeds, fastest-growing area within the commercial seed sector. Growing population coupled with reduction in arable land is expected to boost the demand for GM seeds which are superior to conventional seeds.
The key factors which are anticipated to drive market growth include increasing global population, growing insect resistance and stacked area and rapid adoption of biotech crops. Some of the noteworthy industry trends include merger and acquisition among seed companies and preference of GM crops over others. However, the industry remains threatened by certain challenges which include asynchronous GM approval timelines, seed quality certification system and decline in international fruit and vegetable seed trade among others.
The report provides a comprehensive study of global seed market and also the regional markets. The competition in the global seeds market is intense among large players like Monsanto, Syngenta, DuPont and Bayer CropScience. All these companies have been profiled in the present report highlighting their key financials and business strategies for growth.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.