The growing use of hybrid seeds across the world is the primary factor responsible for the growth of the global hybrid seeds market. The above information was shared by Fortune Business Insights in a report, titled “Hybrid Seeds Market Size, Share and Global Trend By Crop Type (Cereals (Rice, Corn, Barley, and Sorghum), Oilseeds (Canola, Soybean, Cotton, and Sunflower), Fruits & Vegetables (Tomato, Cabbage, Chilli & Bell pepper, Okra, Cucumber, and Melons)), And Geography Forecast Till 2026.”
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“Some of the Main Key Players Covered in the Report”
- Land O’ Lakes, Inc
- Bayer CropScience
- KWS Group
“Deteriorating Arable Land Stokes Demand for Hybrid Seeds”
Modernization of agriculture such as the introduction of hybrid agriculture is constantly driving the hybrid seeds market. Product innovation which includes advanced hybrid seeds and diet diversification is supplementing the growth of the market. Furthermore, the use of hybrid seeds with advanced features such as seed coatings, pelleting and other traits is increasing the hybrid seed production.
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“MNCs Merging with Other Seed Companies to Dominate the Hybrid Seed Market”
Several multinational companies are acquiring other seed companies to cover a larger part of the global market. With the increasing mergers and acquisitions (M&A), organizations can improve their efficiency and involve in research and development (R&D) activities to meet consumer requirements. Companies are planning to bring innovation in hybrid sees to meet the demand for crop production globally.
For instance, BASF opened an advanced state-of-the-art breeding center in November 2018 in Nunhem. This centre is for breeding cucumbers and its aim is to increase BASF’s capabilities in order to fulfil consumers demand. The company is also planning to increase the global food value chain encompassing novel vegetable varieties.
The same company entered into an M&A in August 2018. The company successfully acquired its global vegetable seeds business. Now, this vegetable seeds business includes 24 crops and about 2,600 crop varieties.
“Oilseeds and Cereals Are More in Demand Owing to their Large Cultivation”
Among crop types, oilseeds and cereals cover a larger share in the global hybrid seeds market. The cultivation of these crops is done on a vast land area across the globe. Under cereals segment, corn and rice account for a major share in the market. Moreover, short duration hybrid seeds are expected to gain higher traction from the benefits associated with their cultivation.
In order to ensure sustainable agriculture, good-quality seeds play a significant role as they provide aid towards higher productivity. Hybridization technology in agriculture helps to enhance crop production. This technology helps to improve the grain qualities, reduce the incidence of pests, and increase the overall crop productivity.
The increasing population is surging the demand for agricultural produce and highlighting the need to increase production. As per the Food and Agricultural Organization (FAO), the global population was 7.63 billion in the year 2018. The organization further revealed that the global population is estimated to reach 8.19 billion by 2025 and around 8.55 billion by the end of 2030.
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