The market crossed US$ 27.0 billion mark in 2022 and is expected to hit US$ 44.5 billion by 2030, recording a CAGR of approximately 6.5% during the forecast period.
Hybrid seeds market is significantly growing with the increasing demand for fruits and vegetables
Growing concerns and consciousness about dietary practices led to the rising necessity of fruit and vegetables across the globe. Increasing adoption in the cultivation of industrial crops among global farmers is boosting the hybrid seeds market growth during the forecast period. Customers have become more aware of what to consume to improve their health and overall wellness. Hybrid seeds are easier to create and nurture plants that produce bigger fruits. Moreover, due to the increased acceptance of smart agriculture, high-quality seeds, and new product penetration globally, the hybrid seeds market is expected to grow at a rapid pace.
Within the report, the market is segmented into crop type, seed treatment, and geography. By crop type, the market is further segmented into fruits & vegetables, cereals & grains, oilseeds & pulses, and others. Based on seed treatment, the market is divided into treated and untreated. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Growing modern farming technologies is expected to propel the growth of hybrid seeds market
Hybrid seeds are the first generation of a cross produced by controlling the pollination and mixing two or more lines, species or varieties. Generally, the seeds are cross-pollinated by hand. They are produced to prepare a crop with desirable genetics of the two plant varieties, such as disease resilient or bigger fruit size. Hybrid seeds are particularly created to get the best qualities of the two parent plants; therefore, they tend to grow quicker and harder and produce higher yields. Plants grown from hybrid seeds typically do not produce seeds that can be used to grow the same type of plants or even produce seeds that will not grow.
Rising adoption of genetically modified seeds in the agriculture industry is one of the major factors accelerating market growth
Over the past several decades, the importance of hybrid seeds in agriculture has rapidly increased due to technological advancements and enhanced seed varieties. Regulatory approval of new gene-editing technologies for breeding is expected to drive innovation and market growth. Moreover, with the rising population, the demand for high-yield seeds is also increasing. Hybrid seeds can yield much better output than their alternative of open pollination. The widespread uses of hybrid seeds in the floriculture industry to produce ornamental flowers and plants have also propelled the growth of the hybrid seeds market. Hybrid seeds are in high demand in the field of floriculture to produce flowers with vibrant and bright colors that are less susceptible to cold and other weather elements.
Recent strategic developments in the hybrid seeds market
The hybrid seeds market has undergone several significant developments, and a few of these have been mentioned below:
The hybrid seeds market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. UPL Ltd., BASF SE, Bayer AG, Corteva Agriscience, and Groupe Limagrain Holding are among the prominent players operating in the market.
Target audience for the report:
Scope of the report:
In this report, the market has been segmented on the basis of:
Companies profiled
- UPL Ltd.
- BASF SE
- Bayer AG
- Corteva Agriscience
- Groupe Limagrain Holding