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Hybrid Seeds Market Overview
The Hybrid Seeds Market size is estimated to reach $38.6 billion by 2027. Furthermore, it is poised to grow at a CAGR of 6.4% over the forecast period of 2022-2027. Hybrid seeds are produced by cross-pollination of a set of two different plants. The open pollination was dependent on the bees, as the hybridization was totally dependent on the bees, and the transfer of pollen from one plant to another. The field crops have been extensively using the hybrid seeds owing to excellent yield, quality, and other deferential factors. Hybrid seeds manufacturers use the process of clonal propagation, which is a process of production of genetically identical copies of a plant without the actual interference of sex-organ. The cross-pollinated plants use scientific techniques through which consumers and commercial clients can reap the benefits of a resilient plant that would be disease resistant, have stringent control over pest activities, and have a high yield rationale. Owing the rising consumption of vegan products supplemented by the need for self-sustenance by growing own plants and crops are some of the key factors driving the Hybrid Seeds Industry forward in the projected period of 2022-2027.
Hybrid Seeds Market Segmentation Analysis- By Crop Type
The hybrid seeds market based on crop type can be further segmented into cereal and grains, fruit and vegetables, oilseeds, and Others. Cereal and grains held a dominant market share in the year 2021. It is owing to the robust demand being observed in the said segment. For example, the production of wheat increased by 6%, when compared between the same time-frame of October-November, that too from the year 2018/19-2021/22.
Moreover, Cereal and Grain segment is estimated to be the fastest-growing with a CAGR of 7.1% over the forecast period of 2022-2027. For example, the production of coarse grains increased by 15.3% in the time frame of Oct-November 2017/18- Oct-November 2021/22. Agriculturalists and others’ have emphasized that the usage of hybrid seeds can help them counter the changing weather conditions, and also suffice for the growing consumption demands. Canada, for example, a major exporter of Oats reported an insignificant supply shock owing to the heavy resilience of using hybrid seeds instead of conventional.
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Hybrid Seeds Market Segmentation Analysis- By Farm Type
The hybrid seeds market based on farm type can be further segmented into indoor and outdoor. Outdoor framing held a dominant market share in the year 2021. It is owing to the global demand for various ancillaries which are supplemented by the use of hybrid seeds. Moreover, the yield and yield stability factors have been a driving factor for the adoption of hybrid seeds usage in outdoor farming. An independent researcher found that the hybrid group of tomatoes produced a total of 3500 fruits in comparison to organic which produced 2161, while the conventional only produced 796 fruits in drought conditions. In a situation where marketable and non-marketable scenarios were present, the conventional category had 49% marketable and 51% non-marketable. However, the hybrid category had 63% marketable and 37% non-marketable.
However, the Indoor farming type has been estimated to be the fastest-growing with a CAGR of 7.3% over the forecast period of 2022-2027. It is owing to the rising trends of relying on home-grown foods and grains. Further, supply chain disruption often fuels up the cost, to safeguard oneself from such misery, people are preferring the use of hybrid seeds in indoor settings.
Hybrid Seeds Market Segmentation Analysis- By Geography
The hybrid seeds market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held a dominant market share of 36% in the year 2021 as compared to its other counterparts. It is owing to the widespread agricultural activities, specifically happening in India and China. Moreover, the regions have favorable agricultural reforms, which allow the farmers to buy hybrid seeds at a discounted rate. For example, if wheat is considered for the month of November- the production was close to 775,000 metric tons, of which 40% were contributed by India, China, Pakistan, Australia, and Kazakhstan.
Moreover, Asia-Pacific is expected to offer lucrative growth opportunities to marketers in the projected period of 2022-2027. It is owing to the rising inclination of the west to adopt the vegan life, which in turn fuels the demand from the region to produce more, thereby the resilience of hybrid seeds would continue to grow.
Hybrid Seeds Market Drivers
Damages pertaining to pests have hampered the agricultural supply and have incentivized the sales of hybrid seeds
Since hybrid seeds are produced by cross-pollinating, the chances of disease or pest damage are minimal. One of the simplest examples of hybrid seeds could be understood by how a cabbage variety is created by overcoming the disadvantages of two separate species to create a new branch of the product(s). A disease struck cabbage or a cabbage variety that is highly susceptible to pests and diseases are cross-pollinated with a variety that is pest-resistant. However, a disadvantage of the latter was its production output, which was lower than the former. Hence hybrid seeds interlinkage could overcome the disadvantages of both and create a robust variety of crops. As per the Food and Agricultural Organization of the US, that an estimated 20-40% of the entire global crop production is lost due to pests. Additionally, plant diseases approximately cost $220 billion, which the organizations are planning to overcome.
The growing veganism trend supplemented by home gardening has made the demand for hybrid seeds skyrocket
Home food gardening has skyrocketed during pandemic times. Researchers have attributed that the said activity is positive reinforcement for troubled minds. Most of the seed catalogs were being sold out. The major manufacturers reported that they witnessed 2-3x the demand during the pandemic. Seeds pertaining to vegetables, beans, and even herbs were asked for, as veganism trends have swelled up owing to the pandemic. Around 10 million people living within the US have been identified as vegan and the numbers have swelled by 300% in the last 15 years. Additionally, as per google analytics, the word vegan was used extensively in the last year and a half, showing the hype. In order to cater to the growing needs supplemented by the want to eat healthy and sustainable products, gardening boosted, and in turn, lifted the demand for hybrid seeds.
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Hybrid Seeds Market Challenges
High manufacturing cost resulting in costlier end-product has dampened the market growth
The entire process of making hybrid seeds have been a highly scientific method. Hence, the processes are long and the time to flourish an end product would take a considerable amount of time, as trials have to be performed to show the endurance of hybrid seeded plants. For example, a KG of Hybrid Brinjal seeds can cost nearly INR 7,000, however, the conventional seeds are close to INR 1500. Additionally, in an independent research study, hybrid tomatoes failed to provide adequate fruit weight and fruit numbers under drought-driven conditions. Owing to such factors, market growth has been impeded.
Hybrid Seeds Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Hybrid Seeds top 10 companies include:
KWS SAAT SE
Land O’ Lakes
Sakata Seed Corporation
United Phosphorous Limited
In October 2021, Origin Agritech expanded its hybrid seed product line and announced that it has applied for plant variety protection rights for thirteen new hybrid corn varieties in addition to the four varieties it has recently received approval for. The corn production was severely dampened across the Chinese region, primarily because of harsh rainwater. However, the hybrid seeds have demonstrated high disease tolerance and yield improvements across the regions.
In June 2021, BASF, a popular supplier of agricultural products and supplies have launched a new brand name of their hybrid wheat seeds- Ideltis. The company went on to say that the name rightly reflects the company’s commitment to transition wheat for long-term success through innovative hybridization. BASF said the hybrid wheat is intended to provide farmers with higher and more stable performance in yield and quality to advance one of the world’s most important crops.
In January 2021, Bayer India launched four new hybrid vegetable seeds. Four new varieties of Seminis® vegetable seeds were unveiled at the event, including ‘Anshuman’ in tomato, ‘SVHA9093’ in hot pepper, ‘Bazlet’ in cucumber, and ‘Himgauri’ in cauliflower. These varieties will be commercially launched in 2021. Bayer agronomists held in-depth discussions with farmers on topics such as choosing the right hybrid seed based on local growing conditions, integrated crop management from seed to harvest, and best practices for disease & pest management.
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Geographically, Asia-Pacific held a dominant market share in 2021. It is owing to the various resources provided by the governments across the region, which propels the farmers to lift the heavy demands of the growing population. Moreover, the region is expected to offer lucrative growth opportunities owing to the growing demand for food around the world along with the advent of technology which has further eased the entire process.
Modernization of agriculture coupled with the soaring food demand needs supplemented by a rise in home-gardening has readily aided the market growth. However, high manufacturing cost resulting in costlier end-product has dampened the market growth.
A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Hybrid Seeds Market Report.
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