The hybrid rice seeds market is expected to reach US$ 5.1 billion in 2023 and US$ 10.8 billion in 2033. The initial CAGR for the period between 2017 and 2022 for the global market was 7%.
Sustainable rice agriculture is hampered by numerous biotic and abiotic variables. As a result, stress tolerance has been included in high-yielding varieties, which has proven to be a highly effective way to create these types that can withstand such situations. This is increasing the demand for hybrid rice seeds and lowering the losses resulting from stress-related illnesses.
The development of hybrid rice seeds that are resistant to microbial infestations and produce larger yields in a relatively short amount of time than inbred types is another focus for hybrid seed producers, which is expected to fuel expansion.
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Since rice is a staple food for around 60% of the world’s population, the demand for it is rising along with the worldwide population. In order to meet this rising demand and supply rice to various end users, rice yield per unit area has also increased.
To develop new hybrid rice seeds varieties and encourage farmers to use them, the government and numerous research institutions are working together.
Key Takeaways
- By 2033, China is likely to dominate the hybrid rice seeds market, with a size of US$ 4.3 billion.
- The hybrid rice seeds market was significantly expanding, with a size of US$ 4.8 billion in 2022.
- There is a market opportunity of US$ 5.7 billion in absolute terms, which is driven by the change in consumption patterns.
- The market in the United States is anticipated to expand at an adequate CAGR of 3.7% by 2033.
- By 2033, Canada is likely to expand in the hybrid rice seeds market, with a size of US$ 75.6 million.
- By 2033, the hybrid rice seeds sector is likely to increase in Japan, with a size of US$ 176.2 million.
- The Indian market is anticipated to expand at an adequate CAGR of 8.8% by 2033.
- Based on grain size, the long grains led the hybrid rice seeds market with a CAGR of 6.2% by 2033.
- Based on duration, up to 110 days segment continues to dominate the sector during the forecast period, with a CAGR of 8.4%
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Key Strategies in the Industry
Due to the rising need for bigger yields and better-quality produce, hybrid rice seed technology has experienced substantial expansion in the last few years. In order to gain market share in the fiercely competitive market for hybrid rice seeds, businesses must offer better variety, affordable prices, and aggressive marketing.
To remain ahead of the competition, businesses are developing new types and technologies. To reach more clients, they are also concentrating on marketing and advertising initiatives. In order to expand their reach, businesses are also concentrating on enhancing their distribution networks and opening new stores.
Recent Developments
- Ricetec Inc. purchased the assets of Ganga Kaveri Seeds in 2019 to expand its product line and draw in more clients.
- As of May 2019, Syngenta has released the SYN98 3-line hybrid rice variety in Vietnam. The Syngenta Nam Dinh Research Center has been given approval by the Ministry of Agriculture and Rural Development to start trial production of this variety in December 2017.
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Key Segments
By Grain Size:
- Long Grains
- Medium-sized Grains
- Short Grains
By Durability:
- Up to 110 Days
- 111 to 140 Days
- 140+ Days
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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