LONDON--(BUSINESS WIRE)--Technavio’s latest report on the hybrid seeds market in India provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Arushi Thakur, an agricultural industry expert from Technavio says, “The rising population, and the subsequent growth in the demand for food, has increased the need for better productivity and for balancing the demand-supply gap, especially among smallholder farmers. The government is encouraging the use of high-yielding varieties of hybrid seeds as food security has become a national concern.”
The hybrid seeds market in India is expected to grow at a CAGR of nearly 15% during the forecast period. Threat from pests and adverse environmental conditions have increased the demand for these improved quality seeds. In addition, the government enabled 100% FDI in the agriculture sector since 2011, thereby enhancing investment in R&D and the production of hybrid varieties. However, the high cost of hybrid seeds is hindering the growth of the market. Additional factors such as the effect of different soil types on the quality of seeds also limit the growth of the market.
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The top three emerging trends driving the hybrid seeds market in India according to Technavio research analysts are:
- Innovations in seed technology
- Growing usage of hybrid seeds with advanced generation traits
- Diversion from agrochemicals
Innovations in seed technology
With an increase in population, change in climatic conditions, and a decrease in the total area of cultivable land, there is a need to ensure food security and high yield. Therefore, vendors have increased their investments for the development of advanced technologies to increase yields through fertilizers and feeds, enhanced varieties of crops, and mechanization. Modern seed technologies enable cultivation of seeds with enhanced characteristics, which can eventually increase the profit margins of not only the vendors but also of farmers.
“Metahelix, for example, has developed a technology to increase the number of crops per acre. This technology helps in the production of the hybrid MM 2100, a plant with high growth rates and upright leaves. Owing to the upright leaves of the hybrid and the resultant availability of more space between plants, the cob size does not get reduced,” according to Arushi.
Growing usage of hybrid seeds with advanced generation traits
The growing adoption of seeds with advanced traits is expected to propel the growth of the market. Cultivation of seeds with traits such as herbicide and disease resistance, abiotic stress tolerance, modified quality pollination control system, and insecticide resistance boosts the market’s growth. Herbicide-resistant and insecticide-resistant seeds held the largest shares of the market in 2014. The rise in the cultivation of hybrid soybean and corn seeds, which are resistant to pests and herbicides, will also fuel the market’s growth over the next five years.
Droughts are a constraint for crop cultivation. Adverse climatic conditions and poor irrigation facilities had brought severe grievances to farmers in the past couple of years. To address this issue, vendors have directed efforts to develop cultivars with drought-tolerant traits, which can insulate crops from drought. DuPont’s drought-tolerant Pioneer Brand Millet Hybrid 86M88 and Pioneer Brand Millet Hybrid 86M66 varieties are examples of such seeds.
Diversion from agrochemicals
Players in the agrochemical market have started deviating from agro-based chemicals and are now focusing on the development of hybrid seeds. They are modifying their business models to capitalize the hybrid seeds business as it can provide them with higher profit margins than agrochemicals. Seeds are an assured primary investment for every farmer, unlike chemicals that face uncertainty because of an outbreak, infestation, and the vulnerability of the crop in different geographic conditions. Several companies are well equipped to handle the hybrid seeds business because of their technical pool, market awareness, and resources.
The top vendors are as follows:
- Bayer CropScience
- Nuziveedu Seeds
- Rasi Seeds
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