Biotech Updates

Report Forecasts Global Seed Market Trends to 2020

June 17, 2015

The global seed market is expected to reach US$92.04 billion in 2020, at a compound annual growth rate of 9.4 percent from 2015 to 2020, according to Markets and Markets report on Seed Market by Type (Cereals & Grains, Oilseeds, and Fruit & Vegetables), Seed Trait (Herbicide Tolerant, Insect Resistant, and Other Stacked Traits) & Region - Global Trends & Forecast to 2020.

It was also reported that in 2014, the global seed market was dominated by North America, which has accounted for around 32.60% of the total share. The Asia-Pacific region is projected to be the fastest growing market due to high population, which calls for more food products and advanced farming technologies to attain higher productivity and profits.

Furthermore, India is projected to be the fastest growing market for seed, followed by China because of the government initiatives in promoting technology driven agriculture practices. The cereals and grains segment is projected to be the biggest market for seed in the world from 2015 to 2020.

For more details about the report, visit Markets and Markets.