The global rice seeds market is on an upward trajectory and between 2018 and 2028 the CAGR (Compound Annual Growth Rate) that the market is set to chart will lead to new opportunities and a positive growth curve.
This will generate new growth opportunities for the market players and add to the market worth by a considerable amount.
A number of factors are driving the market on to a higher curve. Some of the prominent ones include decreasing arable land, increasing hunger and the fact that sustainable agriculture \has become the need of this hour.
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Developments that have marked the rice seeds market landscape, shaping its future, include the following.
- Places across the globe are witnessing demand for higher yield of produce and this is where biotech can play a major part by producing seeds that need less resources such as water and pesticides to produce a high output. And, thus this demand is laying the foundation solid growth figures for global rice seeds market. Besides, as climates change is wreaking havoc on weather patterns, cycles of crop growth have changed, negatively affecting yield and other significant parameters. Loss of soil fertility also demands efforts to come up with better seeds.
- A lot of demand for rice comes from the Asia Pacific region, where for a number of people, rice is a staple form of food. These regions will see a dearth and that is where players will find new opportunities to meet the unmet demand for rice. This is primarily because rice is cheap and this is also why African population will demand it and better seeds will come to rescue. Substantial research is therefore underway in these regions and government is also quite supportive of the efforts.
Global Rice Seeds Market: Overview
The global rice seeds market is a progressive one due to depleting arable land that has necessitated newer agricultural practices for increased output for the growing world population. Rice is a staple diet in several regions of the world, thus research for higher output rice seeds is integral to key research initiatives in this space. Research for higher yield seed varieties, GMO seeds, and newer pesticides are to name some initiatives undertaken by agricultural researchers to attain such goals.
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The report provides a succinct analysis of the global rice seeds market with a qualitative and quantitative analysis of growth indicators and competitive structure of the rice seeds market. The report delves into demand drivers, growth challenges, and opportunities to help markets stakeholders formulate strategic business decisions. Growth rate projections of the overall market and market share of key segments are highlights of this report.
Global Rice Seeds Market: Key Trends
The vast consumption of rice in several parts of the world is a key factor behind the growth of rice seeds market. Easy production of rice and availability of rice in several cheap varieties accounts for huge consumption of rice especially among the poor.
In parts of Africa, low economic growth necessitate sustainable food to feed large poverty-stricken populations. Rice serves to be a sustainable food as it is cheaper to produce and the crop does not require a typical climate. To serve these needs, massive research is underway by government research bodies to develop newer rice seed variants. Such initiatives are providing tailwinds to the global rice seeds market.
Globally, with changing temperatures and rising pollution, loss of soil fertility is leading to depletion of arable land. For rice production, rice plantations have increased marginally that has necessitated to improve crop yield using improved quality seeds. This is providing a boost to the rice seeds market.
Global Rice Seeds Market: Market Potential
For humanitarian and economic reasons in south East Asia, biotechnology makes a mark in rice research. Golden Rice touted as the Great Golden Hope of Biotech Crops is devoid of commercial concerns of profit motives or intellectual property rights. Developed by a non-profit NGO, the intellectual property (IP) rights of the rice has been donated. With the move, the rice will be given freely to farmers for local breeding programs. To that end, keen farmers will develop newer rice seed varieties to feed the most vulnerable people on the planet.
Global Rice Seeds Market: Geographical Outlook
The global rice seeds market can be split into five key regions, namely North America, Asia Pacific, Europe, South America, and Rest of the World. North America, among them, holds prominence in the global rice seeds market. Extensive infrastructure for research for newer rice varieties and presence of experts are key to the growth of North America seeds market.
Asia Pacific is a key region for rice seeds. Rice being a staple diet of several countries in South East Asia and Far East Asia, substantial research is underway to develop newer varieties of rice seeds. Poverty in several countries of the region is necessitating development of newer seed varieties for increased output at low cost.
Some of the most prominent competitors operating in the competitive landscape of global rice seeds market include –
- Nuziveedu Seeds
- UPL Advanta Seeds
- Kaveri Seeds
- Rasi Seeds
- JK Seeds
- Krishidhan Seeds
- Rallis India Limited
- SL Agritech
- Guard Agri
- Hefei Fengle Seeds
- Long Ping Hi-Tech Seeds
Research organizations having a significant presence in the global rice seeds market include International Seed Federation, International Union for the Protection of New Varieties of Plants, National Seed Corporation, and International Society for Seed Science.
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