The American seeds market is a significant component of the agricultural industry in the United States. It encompasses the production, distribution, and sale of various types of seeds used for farming, gardening, and other agricultural purposes. The market includes a wide range of seed varieties, including grains, vegetables, fruits, flowers, and specialty crops.
The global Americas seeds market is predicted to register a CAGR of 8% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 6.51 billion in 2023 to US$ 14.06 billion by 2033 end.
The surging global population and consequently soaring demand for food is maneuvering the seeds market in the Americas. The region houses some of the world’s leading agricultural exporters and producers, including Brazil, the United States, and Argentina. In addition to this, the surge in the innovation of seed technologies like genetically modified (GM) seeds, is supporting farmers to boost their crop yield and better the quality of crops. As a result, pushing the demand for high-quality seeds.
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The governments residing in the Americas region give strong support to their agricultural sectors. This also includes support in the form of funds required for advancement in research and development activities related to new seed varieties. Over the years, this support has facilitated innovation in the seeds industry and led to overall market growth.
GM seeds have been a core contributor towards market growth. Subsequently, organic as well as non-GM crops is also enjoying increasing recognition. Growing popularity of these kind of seeds is generating high-growth opportunities for companies that specialize in these seeds.
Top Highlights from the FMI’s Analysis of the Americas Seeds Market:
- The GMO section is forecast to seize large market share in the projected period. Increasing demand for seed types that curb environmental impact, owing to growing environmental concerns, is propelling the segment growth.
- The increasing demand for conventional types of Americas seeds due to its long history of safe use is expected to bolster the conventional section of Americas seeds.
- The herbicide tolerance section, on the basis of trait, is expected to capture large market share. This can be attributed to ease provided by herbicide-tolerant seeds for efficient and effective use of herbicides.
- The insecticide segment is anticipated to display robust growth in the forecast period.
- Extensive cultivation of soybean is projected to yield significant segment growth and account for large market share during the forecast period.
- The wheat segment is projected to perceive a rapid CAGR over the forecast period. Growing global population and increasing importance of wheat as a staple crop are some of the factors underpinning the segment growth.
FMI Captures Key Developments by Market Players
- In July 2022, BASF, Corteva Agriscience, and MS Technologies entered an Agreement to develop next-Gen Enlist E3 soybeans with the trait of nematode resistant soybeans (NRS) for farmers in Canada and the United States.
- In June 2022, a novel variety of tropicalized lettuce was introduced by the name of Arunas RZ. This is projected to boost the market share of the company in the subsequent years.
- In May 2022, Syngenta Canada introduced a new Pelta seed pelleting technology for canola that helps in enhancing the seed uniformity and size, enabling better singulation planter performance.
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Key Segments
By Type, the Americas Seeds Industry is segmented as:
- GMO
- Conventional
By Trait, the Americas Seeds Industry is categorized as:
- Herbicide Tolerance
- Insecticide Resistance
- Others
By Crop Type, the Americas Seeds Market is bifurcated as:
- Rice
- Soybean
- Wheat
By Region, the Industry of Americas Seeds is segmented as:
- The United States
- Brazil
- Argentina
- Peru
- Colombia
- Paraguay
- Chile
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. Buy now to gain access to detailed information about each segment @ https://www.futuremarketinsights.com/checkout/16882
Market Drivers:
- Increasing demand for genetically modified crops and protein meals: Genetically modified crops offer enhanced traits such as increased yield, resistance to pests and diseases, and improved nutritional profiles. This demand is driven by the need for higher agricultural productivity to meet the growing global food demand.
- Rising prevalence of chronic illnesses and micronutrient deficits: The busy and fast-paced lifestyles of people living in urban areas have contributed to an upward trend in chronic illnesses and micronutrient deficiencies.
- Growing interest in plant-based drinks and meats: There is a growing buzz around plant-based drinks and meats as consumers seek healthier and more sustainable food options.
- Concerns regarding weight and rise in the obese population: Increasing concerns about weight and the rising global obesity population have propelled the demand for vegetarian diets.
- Increasing demand for staple crops: Staple crops like rice, wheat, and soybean continue to experience a rise in demand.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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