Biotech Updates

Global Commercial Seeds Market Expected to Reach USD53.32B in 2018

May 14, 2014

Transparency Market Research released a global industry analysis on commercialized conventional and biotech seeds market for 2012 to 2018. The global commercial seeds market was valued at US$34.50 billion in 2011 and is forecasted to attain US$53.32 billion by 2018. The biotech seeds market is valued at US$15.60 billion in 2011 and is expected to reach US$30.12 billion in 2018. It was highlighted in the report that the biotech seeds market had been growing over the past years and is expected to register double digit growth over the next six years. Furthermore, new biotech seeds are expected to be commercialized over the forecast period.

Corn was the largest seed grown commercially, accounting for 40 percent of the global seed consumption in 2011. On the other hand, soybean was the largest consumed biotech seed, which generated revenue of US$6.71 billion in 2011. The study also forecasts demand for conventional and biotech seeds in North America, Latin America, Europe, Asia Pacific, and other parts of the world.

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