LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the hybrid seeds market in India is expected to grow at a CAGR of almost 13% during the forecast period.
This research report titled ‘Hybrid Seeds Market in India 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
India was among the top producers of certain crops such as rice, wheat, and cotton. This offers significant growth potential for the hybrid seeds market in India during the forecast period. Increased government support is a major driver that encourages farmers to adopt high-yield varieties of seeds. For instance, in 2016, the Pradhan Mantri Fasal Bima Yojana (PMFBY) insurance policy was launched by the government to offer financial support to farmers to cover their losses.
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Technavio’s food and beverage research analysts categorize the hybrid seeds market in India into the following segments by crop type. They are:
- BT cotton
- Maize
- Fruits and vegetables
- Rice
- Pearl millet
- Sunflower
- Sorghum
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The top three revenue-generating crop type segments of the hybrid seeds market in India are discussed below:
BT cotton
BT cotton is a genetically modified organism (GMO) cotton variety. It is resistant to bollworms. The strains of bacterium Bacillus thuringiensis produce different BT toxins that are harmful to the insects, and the gene coding in BT toxins produces a natural insecticide in the tissues. Karnataka, Tamil Nadu, Maharashtra, Haryana, Punjab, Rajasthan, Madhya Pradesh, and Gujarat are the main cotton-producing states in India.
According to Safarkhan Valiyaveettil Bijili, a lead food service research analyst from Technavio, “India and China are the only two countries where hybrid cotton is being cultivated on a large scale compared to other cotton-producing countries such as the US, Pakistan, Uzbekistan, Turkey, Brazil, Greece, Argentina, Australia, and Egypt. In India, hybrid cotton seeds are developed by the conventional methods. Development of conventional hybrid cotton involves three steps. The conventional method starts with the identification and growing of male and female parents.”
Maize
The growth of the hybrid maize seeds market in India is directly related to the expanding demand from the poultry and industrial sectors. The increasing demand for and high yields of hybrid maize seeds influence farmers to shift to maize cultivation from other crops.
“Chickens can digest maize easily; maize is also low in fiber. The nutrient content of maize depends on the variety. Hybrid maize can be consumed by both humans and animals. It is also widely used in the corn starch industry and for corn oil production. Bihar, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Telangana, and Uttar Pradesh are the key hybrid maize-producing states in India,” adds Safarkhan.
Fruits and vegetables
Vegetable crops have a special significance in agriculture because of their short season and acceptance among Indians as an essential component of the human diet. The growth in the country's population coupled with an increasing focus on following a better diet can increase the market in India for hybrid vegetable seeds during the forecast period.
The diversity in the climate in India also ensures the availability of different varieties of fruits. For instance, in India, around 1,000 varieties of mango are grown. India produced around 86 million metric tons of fruits during 2014-2015. Mangoes, bananas, pomegranates, and grapes accounted for the larger portion of fruits exports in 2015. Some of the hybrid varieties of mango available in India are Amrapalli, Mallika, Sindhu, Manjeera, PKM 1, Jawahar, and PKM 2.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Bayer CropScience
- Mahyco
- Nuziveedu Seeds
- Rasi Seeds
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