Hybrid Seeds Market Size is Poised to Achieve a $52.33 Billion Milestone by 2030, Driven by a 7% CAGR
The Brainy Insights
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The Brainy Insights
The growth of the hybrid seeds market is being fueled by favorable climate conditions, storage facilities, and widespread adoption of advanced technology. The rise of the hybrid seeds market has been fueled by a sustained approach to agricultural methods from both developed and emerging countries.
Newark, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 26.6 billion in 2020 global hybrid seeds market will reach USD 52.33 billion in 2030. Cross-pollinated plants produce hybrid seeds. A hybrid is created when two varieties of the same plant are bred together. Controlled hybrids have comparatively similar features since they are produced by mating two inbred strains. Elite inbred strains are selected because they display favourable traits for inbred plants and are well-documented and consistent (such as high crop production). Hybridization is widely used in the production of vegetables and flowers. For example, hybrid varieties of roses, tomatoes, and sweet corn are regularly produced by crossbreeding. At the moment, hybrid seeds are extremely popular. This is because the given seeds are more efficient than other kinds of seeds.
Asia Pacific will dominate the market during the forecast period.
The Asia Pacific region has seen a rise in the usage of hybrid seeds for crop production due to rising demand for fruits and vegetables, which is driving the market for these seeds ahead. The demand for nutritious food has increased due to the rapid population expansion in nations like China, and this demand is anticipated to fuel the growth of the hybrid seed market throughout the forecast period.
In 2020, the grains segment dominated the market with the largest market share of 42.5% and market revenue of 11.30 billion.
The crop type segment is divided into cereals & grains, oilseeds & pulses, and vegetables. In 2020, the grains segment dominated the market with the largest market share of 42.5% and market revenue of 11.30 billion.
The corn segment is expected to grow at the fastest CAGR of 9% during the forecast period.
The key crop segment is divided into corn, soybean, rice, cotton, tomato, canola, cucumber, hot pepper, and watermelon. The corn segment is expected to grow at the fastest CAGR of 9% during the forecast period.
Advancement in market
Farmers in Bhutan's Mongar district could increase their maize output by double it with the help of hybrid Wengkhar Hybrid Maize 1 (WHM-1). WHM-1, the first hybrid maize variety to be introduced in Bhutan, was developed in collaboration with the International Maize and Wheat Improvement Centre (CIMMYT) to counter the detrimental effects of rising temperatures or high heat events on maize. In addition to resisting stem and root lodging, the hybrid was created with the ability to withstand heat and drought. It generated a large yield and added stay-green characteristics once the cob matured. Due to Bhutan's implementation's success, WHM-1 output will rise, aiming to meet domestic demand and advance the nation's self-sufficiency.
Driver: a rise in global demand for fruits and vegetables.
As global eating patterns have altered, there is a rising need for both fresh and frozen vegetables. Fruit and vegetable production has increased due to consumers becoming more selective about what they eat to improve their overall wellness and health. The steady transition of many farmers to the production of industrial crops will boost market returns.
Restraints: volatile weather patterns given the climate change crisis.
Unfavourable weather in some regions is one of the main factors restricting the hybrid seed industry's global expansion. Furthermore, because of their high price competency—these seeds are more expensive than their counterparts—they underperform their rivals. Farmers with tight budgets are unable to purchase additional fertilisers, so they cannot recover the cost of hybrid seed. Additionally, these seeds frequently require more horticulture than their non-hybrid open-pollinated cousins or risk suffering more.
Opportunities: Numerous opportunities exist for research and development.
Intending to make the resulting crops disease-resistant, numerous breeding businesses have invested heavily in research and development. These companies are investing resources in the creation of techniques for sickness detection. Abiotic resistance is one of the most significant research areas in this field. Due to water scarcity, hybrid seeds with effective water consumption and heat resistance have been developed. Higher nutrient-efficient hybrid seeds have been created due to growing fertiliser input prices. Such seeds continue to produce a high yield when given low input conditions. Hybrids of disease-resistant onions that are uniform and have good storage qualities are highly prized in this market.
Challenges: High initial breeding costs.
It is anticipated that the initial expense of hybrid seed breeding will prevent the growth of the hybrid sector. Additionally, it is anticipated that the expansion of the hybrid seeds market will be constrained over the forecast period by the unorganised market penetration of new goods with a poor profit-to-cost ratio.
• North America (U.S., Canada, Mexico) • Europe (Germany, France, the UK, Italy, Spain, Rest of Europe) • Asia-Pacific (China, Japan, India, Rest of APAC) • South America (Brazil and the Rest of South America) • The Middle East and Africa (UAE, South Africa, Rest of MEA)
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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