Selbyville, Delaware, Nov. 13, 2023 (GLOBE NEWSWIRE) --
The hybrid seeds market valuation is estimated to surpass USD 80.7 billion by 2032, as reported in a research study by Global Market Insights Inc.
The growing R&D investments led by multiple seed companies and agricultural research institutions to create new and improved hybrid seed varieties will push the industry development. For instance, in June 2021, the University of California, Davis (UC Davis) was awarded a USD 600,000 Seeding Solutions grant by the Foundation for Food & Agriculture Research (FFAR) for developing hybrid plants to produce genetic cloned seeds for substantially limiting the climatic impacts. The growing focus on crop diversification along with the robust importance of global food security will also influence the product uptake. To illustrate, Bayer Crop Science, in June 2022, introduced INH 16019, its first-ever hybrid rice seed with strong inbuilt tolerance to Bacterial Leaf Blight (BLB) and Brown Plant Hopper (BPH).
Hybrid seeds market from the yield enhancement trait segment may account for significant revenue share by 2032. The growth can be attributed to the growing importance of food security for increasing crop productivity and availability to cater to the burgeoning food production needs of the growing population. Hybrid seeds are widely used for yield enhancement as they harness the advantages of heterosis, consistent and predictable traits with improved disease resistance. The enhanced productivity offered by hybrid seeds in achieving higher yields with fewer resources, including land, water, and fertilizers is another important factor adding to the product demand.
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The rice crop type segment is expected to account for significant share of the hybrid seeds market by 2032, due to advantages, such as higher degree of uniformity in growth, maturity, and grain characteristics. Hybrid rice varieties produce higher yields as compared to traditional and open-pollinated rice varieties, allowing farmers to harvest more rice with same amount of land and resources. The ongoing R&D efforts and the rising government agricultural policies and support programs for promoting the adoption of hybrid rice seeds to increase food security and farm productivity will contribute to the market growth.
Europe hybrid seeds market is projected to witness significant expansion between 2023 and 2032, driven by the rising environmental concerns and changing agricultural practices. With the surging interest in crop diversification, multiple farmers in the region are exploring new hybrid varieties for wider range of crops to limit dependence on traditional crops while enhancing the resilience of agricultural systems. The paradigm shift towards sustainable and environmentally friendly agriculture practices will also define the regional industry demand.
Some of the leading companies operating in the hybrid seeds market are Corteva Agriscience, Syngenta AG (part of ChemChina), Bayer CropScience (part of Bayer AG), BASF SE, Groupe Limagrain, KWS SAAT SE, DowDuPont Inc., Monsanto Company (now part of Bayer CropScience), Sakata Seed Corporation and Rijk Zwaan Zaadteelt en Zaadhandel B.V.
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These industry players are placing targeted efforts on numerous growth-based initiatives, including acquisitions and partnerships to reinforce their global penetration. For instance, in November 2022, BASF acquired the Idaho Falls seed production facility of Cargill in a bid to expand its high oleic canola seed production as well as processing business across North America.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Hybrid seeds market 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Farm type trends
2.4 Distribution channel trends
2.5 Crop type trends
2.6 Trait trends
2.7 Regional trends
Chapter 3 Hybrid Seeds Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing adoption of biotechnology
3.2.1.2 Focus on yield enhancement and productivity
3.2.1.3 Nutritional enhancement methods
3.2.2 Industry pitfalls & challenges
3.2.2.1 High cost of products
3.2.2.2 Patents and licensing
3.2.2.3 Natural hazards
3.3 Growth potential analysis
3.3.1 By farm type
3.3.2 By crop type
3.3.3 By distribution channel
3.3.4 By trait
3.4 COVID-19 impact analysis
3.5 Impact of Russia Ukraine war
3.6 Regulatory landscape
3.6.1 U.S.
3.6.2 Europe
3.7 Pricing analysis, 2022
3.8 Reimbursement scenario
3.9 Technology landscape
3.10 Future market trends
3.11 GAP analysis
3.12 Porter's analysis
3.13 PESTEL analysis
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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