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Dec 03, 2021
Top 5 seed market drivers
The global market for commercial seeds is estimated to reach $44,944 million for the last completed harvest (2020). The estimate for the market CAGR was 3.8% between 2010-2020. Genetically modified (GM) seeds accounted for 48% market share in the commercial seed market, whereas the area reported under GM and conventional seeds was 19% and 81% of the total crop plantation area, respectively. Between 2010-2020, CAGR for the GM seed market was 5%, and the conventional seed market was 3%.
Looking ahead, seed market drivers such as the growing population and policies around decarbonization, have led to an increasing need for organic agriculture and the adaptation of GM technology to meet these demands. Understanding who the market leaders are and what traits are leading the market is a crucial part of assessing commercial opportunities in order to gain a competitive advantage
This article was published by S&P Global Commodity Insights and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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