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The United Nations forecasts the global population to cross 10 billion by 2050, which is expected to bode well for the global commercial seed market. The rising population will increase the demand for food, finds Fortune Business Insights in a new study. The study is titled “Commercial Seed Treatment Market: Global Market Analysis, Insights, and Forecasts, 2018 2025.” According to the study, the global commercial seed treatment market will be worth US$ 61.32 Bn by 2025 from US$ 40.70 Bn in 2017, with a promising CAGR of 5.8%
Increasing Use of High-yielding Crops to Increase Demand for Commercial Seeds
The rising disposable income of people is expected to result in increasing and unbridled consumption of resources. This will further fuel demand for commercial seeds for improving crop yield as compared to their farm seed counterparts. With the advancement of molecular biology, mapping of the genetic codes of plants have become faster and cheaper. These advancements are likely to boost commercial seed production.
On the flipside, low margins set for major industrial crops such as guar, fiber hemp, cuphea, Plantago, sunflower, sugar beet, safflower, potato, rape seed, maize, jojoba, cassava, oil palm, and peas may create a challenge for the commercial seed market to generate more market revenues. Again government regulations set for trading specific crops may also hamper the commercial seed market.
Some of the Main Key Players Covered in the Report:
By Crop Type
The rising industrialization is reducing arable land in emerging nations thus adversely impacting the production of crops. However, with government support and increasing awareness about modern farming techniques, it is possible for farmers to increase their crop yield. Such initiatives taken by governments are driving the Global Commercial Seed Market.
The major factor fueling the demand for commercial seeds is that farmers are encouraged to use biotech or hybrid crops for better crop production. This was possible because of various initiatives conducted to spreads awareness among farmers on the modern ways of improving crop yield. Crop cultivated using advanced technologies are both insect and abiotic stress tolerant. The rising adoption of innovative farming practices will pave the way for the growth of the global commercial seed market.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Commercial Seed Market Rising Demand, Boost Industry, Analysis, Trends, Growth, outlook by 2025