Global Seed Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Global Seed Market Analysis:

1. The estimated size of the Global Seed Market in 2023 is USD 66.85 billion, with a projected growth to reach USD 92.02 billion by 2028. This growth is expected to occur at a compound annual growth rate (CAGR) of 6.60% during the forecast period of 2023–2028.

2. Among the various crop families, Grains & Cereals emerge as the largest segment in the seed market. This segment holds significant importance due to its ability to generate high profits for growers, its widespread consumption as a food source, and the increasing demand from the lubricants industry for biofuel production.

3. When considering the largest segment by country, the United States stands out as a leading producer. The country excels in cultivating high-value crops such as corn, soybean, and cucumber. Additionally, the adoption of biotech crops and hybrid seeds in the United States is the highest globally, further solidifying its position as a key player in the seed market.

4. In terms of the fastest-growing segment by crop family, Roots & Bulbs take the lead. This segment experiences rapid growth due to several factors, including an increase in market value, a rising demand from processing industries, and the availability of high-yielding varieties in the market.

5. Italy emerges as the fastest-growing segment by country in the seed market. This growth can be attributed to multiple factors, including an increase in the consumption of salad, Italy’s position as the leading producer of peas globally, and the rising demand for feed by dairy farmers. These factors contribute to Italy’s significant growth in the seed market.

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