Seeds Market in US 2019-2023 | 9% CAGR Projection over the Next Five Years | Technavio

Technavio has published a new market research report on the seeds market in US from 2019-2023. (Graphic: Business Wire)

LONDON--()--The seeds market in US is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio.

A key factor driving the growth of the seeds market size in US is the increase in government support through farm subsidies and financial aid. The US government has been providing farm subsidies and financial aid to the country’s agriculture sector, emphasizing on reducing the financial impact of challenges endured by farmers, such as unfavorable weather and supply-demand disruptions. Therefore, financial aid and protection for farmers through government initiatives is expected to encourage farming, which will subsequently boost the growth of the seeds industry in the US during the forecast period.

As per Technavio, the rise in prominence of digital technology in agriculture will have a positive impact on the market and contribute to its growth significantly over the forecast period. This seeds market in US 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Seeds market in US: Rise in prominence of digital technology in agriculture

The global agriculture industry is witnessing a significant increase in the adoption of Internet of Things (IoT) devices and analytics to increase crop produce and productivity. This is mainly due to the introduction of digital technology as a scalable and sustainable agricultural resource to help farmers maximize seed output and crop potential. IoT devices such as drones are increasingly being adopted in the US for crop monitoring and spraying applications. Several seed breeders and analytics enterprises are also offering digital tools and infrastructure for agriculture applications. Overall, the rising prominence of digital technology is expected to improve seed and crop productivity during the forecast period.

“Apart from the rise in prominence of digital technology in agriculture, other factors such as the growth in consolidation of seeds market in the US, and innovations in plant breeding will have a significant impact on the growth of the seeds market in US during the forecast period,” says a senior analyst at Technavio.

Seeds market in US: Segmentation analysis

This market research report segments the seeds market in US by product (GM seeds, and conventional seeds), and crop type (grain seeds and oilseeds; fruits and vegetable seeds; and other seeds).

The GM seeds segment led the seeds market in US in 2018, followed by conventional seeds. The adoption of GM seeds among farmers in the US has increased significantly over the last few years as the production of GM seeds involves easier weed management, pest and disease control, enhanced nutritional content, and higher productivity. These factors translate to higher economic benefits for farmers, with a better return on investment (ROI) for GM seeds per hectare as compared to conventional and organic seeds.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The seeds market in US is expected to post a CAGR of close to 9% during the period 2019-2023, according to the market research report by Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com