T
he 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 several world’s leading agricultural exporters and producers, including Brazil, the United States, and Argentina. In addition to this, a 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.
The governments based in the 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 toward market growth. Subsequently, organic as well as non-GM crops are also enjoying increasing recognition. The growing popularity of this kind of seeds is generating high-growth opportunities for companies that specialize in the industry.
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Top Highlights from the FMI’s Analysis of the Americas Seeds Market:
- The GMO section is forecast to seize a massive 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 seeds in the region due to its long history of safe use is expected to bolster the conventional section of Americas seeds.
- The herbicide tolerance section, based on the trait, is expected to capture a sizable market share. This can be attributed to the 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 a huge market share during the forecast period.
- The wheat segment is projected to perceive a rapid CAGR over the forecast period. Growing population and increasing importance of wheat as a staple crop are a few factors underpinning the segment growth in the region.
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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 seed uniformity and size, enabling better singulation planter performance.
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Americas Seeds Market by Category
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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