Asia-Pacific Seed Market was worth $19.21 billion in 2016 and estimated to be growing at a CAGR of 9.10%, to reach $29.70 billion by 2021.
The Seed market is developing at a significant rate due to the rising demand for food and feed and rapid decline in arable land. Farmers count on the seed industry to provide seeds that bring high yields and help reduce the cost of production.
The global concerns about pollution are driving the increase in the use of biofuels.
The growth of the Asia-Pacific Seed market is mainly due to the increasing consumption of animal fodder, and growing need for commodities such as vegetable oil.
Increasing population in this part of the world is also supporting the growth of the Asia-Pacific Seed market. Volatile economies and lack of awareness are the major restrictive factors for the Asia-Pacific market.
Concerns over Genetically Modified Seeds is restraining the growth of the market. The seed market is hindered as the GM seeds are relatively more expensive than normal seeds in developing countries like India.
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The Asia-Pacific Silage Seed Market is segmented based on Crop type and Seed trait. On the basis of Crop type, the global Seed market is segmented into Oilseed, Grain seed, Fruit & Vegetable, and Other seed.
Oilseed includes soybean, sunflower, cotton, canola; Grain seed includes corn, wheat, rice, millet crops; Fruit & Vegetable includes tomato, melon, carrot, onion, pepper, lettuce; Other seeds include alfalfa, turf, clover & forage plants, and flower seed. On the basis of Seed trait, the market is segmented into Herbicide Tolerant, Insect Resistant, and Other Stacked Traits.
The Grain seed segment leads the seed market, with corn having the largest share followed by soybean.
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The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. This region offers substantial opportunities for the Seed market, with China and India being the most populous countries in this region contributing to the increasing demand.
China leads the market in this region. This region accounts for about 30% of the global market and is expected to be one of the fastest growing market during the forecast period.
China is the second largest seed market in the world after U.S. Indonesia, Vietnam, and Malaysia, are some of the promising players in this market.
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The major companies dominating the market in this region are Monsanto, DuPont, Syngenta, AG, Dow AgroSciences LLC, Land O’Lakes Inc., and Bayer Crop Science. Existing companies such as Monsanto and Syngenta have been actively involved in the acquisition of regional players to strengthen their market presence.
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