LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global seeds market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global seeds market will grow at a CAGR of over 9% during the forecast period. The rising demand for biofuels is a major factor driving the market’s growth.
Biofuels are sourced from energy crops such as wheat, soybean, corn, rapeseed, and sugarcane. To reduce the global consumption of fossil fuels and limit pollution, there has been an increased emphasis on the use of biofuels, particularly from government bodies, in the recent times. Along with this, developed nations are witnessing a decline in the consumption of conventional fuels and an increase in the consumption of alternative fuels. Recent as well as future projections for biofuel feedstock production increases are quite substantial in relation to the current agricultural production. Such production increases are expected with the expansion of the areas devoted to the production of biofuel feedstocks and by improving the yields of current biofuel feedstocks.
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In this report, Technavio highlights the growing usage of seeds with advanced generation traits as one of the key emerging trends driving the global seeds market:
Growing usage of seeds with advanced generation traits
The increase in global population has increased the demand for high-quality seeds with improved productivity in the past couple of years. The increasing adoption of seeds with advanced traits such as herbicide and disease resistance, abiotic stress tolerance, modified quality pollination control system, and insecticide resistance, is anticipated to propel the growth of the market. Herbicide-resistant and insecticide-resistant seeds held the largest shares of the market in 2014. An increase in the cultivation of hybrid soybean and corn seeds also fuels market growth as these seeds are highly resistant to pests and herbicides.
“Vendors are increasingly developing seeds with specific traits, which improve yield and minimize crop losses. Droughts are a constraint to crop cultivation. Adverse climatic conditions and poor irrigation facilities have brought severe grievances to farmers in the past couple of years. The vendors are concentrating on developing cultivars with drought-tolerant traits,” says a senior analyst at Technavio for research on food.
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Global seeds market segmentation
This market research report segments the global seeds market into the following products (conventional and GM seeds) and key regions (the Americas, APAC, and EMEA).
The conventional seeds segment held the largest market share in 2017, accounting for nearly 60% of the market. The market share for this segment is expected to decrease slightly by 2022. However, this segment will dominate the market throughout the forecast period.
The Americas was the leading region for the global seeds market in 2017, accounting for a market share of approximately 38%. The market share of this region is anticipated to decrease to some extent during the forecast period.
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