An exponential rise in the population has resulted in huge demand for food, thereby translating into the need for high crop yield and good quality crops. This factor is driving the growth of the seed industry across the globe. Furthermore, large-scale use of animal feed and biofuels along with diet diversification will boost the global market trends. In addition, the escalating requirement for new seed technologies such as seed pelleting and the need for more arable land for farming will aid the expansion of the global seed market in the years ahead.
Growing preference for high-quality seeds in farming activities for boosting the agriculture economy in both developed as well as emerging economies will create new growth avenues for the global market. As per the Allied Market Research study, the global seed market is predicted to accumulate revenue worth $105.3 billion by 2031.
Key players in the global seed industry are enforcing key business strategies such as the launching of new eco-friendly products aimed at reducing environmental degradation and accounting notably towards a green environment as well as improving the seed performance and crop yield. In addition, the new product offerings are intended at helping the market players in increasing product sales and expand their consumer base globally. Furthermore, strategic investments have helped industry players in enhancing their global presence. In addition, this strategy has assisted players in the seed business to offer innovative products to farmers based on their farming requirements.
It will also address their farming needs such as the necessity of increasing crop yield and crop quality. This, in turn, will open new dimensions of growth for the seed market across the globe. Execution of the key strategy of launching new farming technologies has assisted the firms in creating a value proposition for the farming products, thereby helping players in the farming business in creating huge demand and value for their seeds. This business strategy will also help the players in the seed business in reinforcing their positions in the global market.
Moreover, the investment strategy executed by the market players will help them in garnering huge profits along with gaining a high competitive edge over their business rivals. The strategy will also help the firms in retaining existing customers and acquire new ones. Let us discuss some of the key trends observed across the global seed market and leveraging its growth.
New product launches have played a pivotal role in influencing the growth of the global seed market. Pivot Bio introduced on-seed nitrogen products such as PROVEN® 40 On-Seed (OS) and RETURN® OS, a new class of products integrating nitrogen continuously with seed during planting. Reportedly they are the first class of products providing nitrogen on the seed for crops such as spring wheat, corn, and sorghum. Moreover, these newly launched products offer crop growers the nitrogen for improving their crop yield and improve their farming. The strategic move is aimed at improving the lifespan of seeds and enhancing crop yield, thereby fulfilling the surging food requirements of the rapidly bulging global population.
Continuing with the trends of new product launches, Mersitem Crop Performance introduced two biological delivery tools for enhancing seed performance. Reportedly, the new tools are designed for enhancing farming operations and increasing the productivity of farmers in the U.S. Furthermore, the firm is set to launch a bio-capsule technology planter box delivery system for dispensing a large number of biological into seed lubricants that are combined with micronutrients. The firm will also introduce a bio-capsule system consisting of microbes for fixing nitrogen and soluble nutrients in the seeds of the crops. The bio-capsule system will keep biological separate from micronutrients till their deployment in seeds. For the record, the system will provide live microbes directly to the seed, thereby ensuring that these nitrogen-fixing microbes become active during seed germination and feed nitrogen to seeds seamlessly. Such moves are projected to boost the growth of the global seed market in the years ahead. In addition, GHX by Golden Harvest® declared the launching of GHX™ Mobile, an online app that helps farmers in seed sales. Furthermore, the online app contains information about farming operations such as tracking the crop yield, weather, field scouting guidelines, and markets for seeds.
The launching of new farming technologies has also favorably impacted the growth of the seed market across the globe. Syngenta AG, a key provider of agriculture science and farming technology for seeds and pesticides, launched Syngenta’s TYMIRIUM® technology. Furthermore, the firm has received regulatory approval for this new technology from Argentina. Reportedly, this new technology will help farmers in accessing new nematicide and fungicides for soil and seed uses. Furthermore, the TYMIRIUM® technology will offer protection to seeds and soil against plant-parasitic nematodes as well as soil-borne infections to seeds and crops. The move is likely to help farmers in improving crop yield, food quality, and soil health along with preserving soil biodiversity.
Securing investments is a major strategy adopted by key business players for expanding the portfolio of their business across the globe. Klim, a German Agri-Tech startup firm, received nearly $6.6 million in funding from investors such as Wi Venture, Ananda, Edaphon, Agfunder, and FoodLabs. The funding round was led by Green Generation Fund, a food and green technology investor based in Berlin, Germany. The investment will help Klim in developing regenerative farming methods that are likely to prove beneficial for soils, seeds, and biodiversity as well as the environment.
Industry players are implementing strategies such as new product launches, the introduction of new technologies in agriculture, and investments for expanding their regional presence along with garnering huge returns on investments. Moreover, these strategies will help them in product innovation, diversifying in new business, and expanding their business reach. These strategies will also help in contributing significantly to the size and earnings of the global seed market in the ensuing years.