Global Bio Seeds Market Will Growing at 9.5% CAGR from 2015 to 2021
Zion Research has published a new report titled “Bio Seeds (Soybeans, Corn, Sugar Beets, Canola and Others) Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021.” According to the report, global demand for bio seeds market was valued at over USD 21.5 billion in 2015, is expected to reach around USD 36.5 billion in 2021 and is anticipated to grow at a CAGR of around 9.5% between 2015 and 2021.
Bio-seeds are produced using genetic engineering and are categorized under genetically modified organisms. Bio seeds are formed by inserting desired quality gene into the host via genetic engineering technique. Bio seeds exhibit several advantages over traditional seeds such as high yield and low cost production.
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Ever rising population and shrinking arable land is expected to boost the demand for bio seeds market. Growing urbanization resulted into adoption of bio seeds owing to high yield and optimum desired results. Though, lack of knowledge and awareness among underdeveloped countries for the significance of bio seeds are anticipated to be major restrain for bio seeds market. Nevertheless, increasing preference for healthy diet and rapid innovations in agricultural sector is estimated to open growth opportunities for the market in the near future.
Soybean, corn, sugar beet, canola, etc. are some of the key product segments of bio seeds market. With over 35% share in total revenue generated, corn dominated the bio seeds market in 2015. Corn was the most widely cultivated crop and had highest consumption in 2015. Corn is growing in popularity as a raw material among the manufacturers of ethanol. This is expected to fuel the growth corn bio seeds. Soybean is another important product segment for bio seeds. It accounted for around 30% share of the total revenue generated in 2015. Sugar beets and canola are also likely to experience significant growth during the forecast period.
In 2015, with around 30% share of the total market, North America dominated the global bio seeds market. U.S. was the world’s largest consumer of bio seeds. Growing demand from Germany, France, etc. is expected to boost the demand for bio seeds market in Europe. Asia Pacific bio seeds market was dominated by China and India in 2015. Middle East and Africa is expected to experience decent growth in coming up years.
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DLF-Trifolium, Bayer Crop Science, Land O’ Lakes, Syngenta, Monsanto, Takii, Sakata and DuPont among others are some of the key players in the bio seeds market.
This report segments the bio seeds market as follows:
Bio Seeds Market: Product Segment Analysis
- Sugar beets
Bio Seeds Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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