Seed Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2018-2024″ Growing investment & development from developing country in the agricultural sector are key drivers for global seed market.*
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Market Dynamics:
The agriculture sector is getting more attention worldwide due to government and non-government authorities identify a need to fast-track productivity in order to safeguard food security and improved nutrition with respective growing population. Worlds Farmers is necessary to produce around 1.4% more grain every year as per estimation of population which is representing an increase of approximately 30% by 2030. Growing demand of food across the world is driving the seeds market during the forecast period 2018-2024. In addition, Grain demand is expected to increase approximately by 30% at the end of 2025 i.e. additional 600 million tons. This demand due to population growth, greater economic prosperity in emerging markets, and growing biofuels expansion. Apart from this, around 30% of this additional demand will come due to changes and in habit of consumer diets as opposed to population growth.
Seed Market Regional Analysis:
North America occupies largest market share due to growing demand for genetically modified seed. North America and Europe together accounts more than 55% market Share for Seed industry. Asia Pacific Seed market is expected to show 8.0% CAGR during the forecast period. China accounted second largest seed market in the world, right behind the United States. However, India also accounted significant share of more than 4% in the global seed market.