Global Hybrid Seeds Market to Reach $57B by 2022Global Hybrid Seeds Market to Reach $57B by 2022

A new market forecast by research firm Markets and Markets predicts that the global market for hybrid seeds will climb from an estimated $33.91 billion in 2016 to $57.19 billion in 2022, representing a compound annual growth rate (CAGR) of 9.10% during the period, the research firm announced in a press release Tuesday.

Researchers identified “growing global population, declining arable land, changing weather patterns, diversification of diets, and technology-driven agriculture in developing countries” as major factors driving the market’s growth during the forecast period. Modernizing agricultural techniques, new product offerings, and new forms of high-quality, high-yielding seeds are also significant influences, the report said.

“The demand for various types of fruit and vegetable seeds is driven by favorable climatic conditions, technology, and storage methods,” a Markets and Markets press release said. “With the use of hybrid seeds, crops can be protected from major pests and diseases and the quality and quantity of the yield can be improved.”

Commercial seed companies are investing in production facilities to focus on hybrid seed quality and sustainability, according to the report. The category includes seeds that treated with biological and chemical agents that prevent seed borne insect infestation and diseases.

Regionally, demand is expected to rise in the Asia-Pacific (APAC) area, with India, China, and Japan predicted to be the largest country-level markets in the region.

According to the report’s authors, the main drivers of growth in APAC are “continuous increase in the population and support from governments as well as national and international associations to increase the agricultural production of grains, oilseeds, fruits, and vegetables to meet the need for food products in the region.”

Key players in the market during the forecast period were identified as E.I. du Pont de Nemours and Company, Syngenta AG, Monsanto, Dow AgroSciences, KWS, Land O’ Lakes, Advanta Ltd., Takii & Co. Ltd., Mahyco, and Biostadt India Ltd.

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