New York, United States, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The Global Custom Selected Seed Market Size is to Grow from USD 18.65 Billion in 2022 to USD 34.23 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.2% during the projected period.
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The custom seeds are designed to increase crop yield and performance, which will lead to increased demand. Custom-bred seeds are frequently bred to be resistant to specific farm diseases and pests. As climatic conditions shift, there is a growing demand for custom-selected seeds that thrive in specific climates, such as drought-resistant seeds, heat-tolerant seeds, and cold-hardy varieties. Furthermore, speciality and niche crops such as organic produce, heirloom varieties, and crops used in specific ethnic cuisines are in high demand. Precision agriculture, remote sensing, and data analytics are all having an impact on the market for custom-selected seeds. Farmers are using data-driven insights to make informed seed selection decisions based on their specific field conditions. Furthermore, one of the key trends influencing the custom selected seeds market is the global market in agricultural practises. Precision farming encourages farmers to use carefully chosen seeds. Farmers can now produce large quantities of high-quality agricultural products thanks to these seeds. As a result, custom selected seed sales are expected to skyrocket. Farmers have a strong preference for buying custom-selected seeds. This is due to a greater understanding of the advantages of using improved seed varieties. Custom-selected seeds are superior to standard seeds. This includes higher yields, higher nutritional quality, less crop damage, disease resistance, and other benefits.
COVID 19 Impact
The restrictions, lockdowns, and safety protocols, many seed production facilities and research centres experienced labour shortages. This resulted in lower productivity and, in some cases, postponed seed production activities. Changes in consumer preferences and disruptions in export markets influenced crop demand. Farmers' crop planting decisions may have influenced demand for custom selected seeds. As a result, the reduced number of COVID-19 cases and subsequent strategies implemented by government and non-government organisations are expected to drive market growth.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Custom Selected Seed Market Size, Share, and COVID-19 Impact Analysis, By Product (Cereals, Vegetables, Oilseed, Fruits, Others), By Trait (Disease Resistant, Herbicide Tolerant, Drought Resistant, Non-genetically Modified), By Cultivation Method (Open Field (OF), Controlled Environment Agriculture (CEA)), By Packaging (Bulk Packaging, Containers, Bags, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The oilseed segment dominates the market with the largest revenue share over the forecast period
Based on the product, the global custom selected seed market is segmented into cereals, vegetables, oilseed, fruits and others. Among these, the oilseed segment is dominating the market with the largest revenue share over the forecast period. Oilseeds are designed to meet specific market and customer demands by offering a variety of oil compositions, flavour profiles, and nutritional benefits. Custom-selected oilseeds are gaining popularity as a result of the growing emphasis on healthier diets and the food industry's need for novel ingredients. These oilseeds provide tailored solutions for a variety of culinary and nutritional applications.
The herbicide tolerant segment is witnessing significant CAGR growth over the forecast period.
On the basis of trait, the global custom selected seed market is segmented into disease resistant, herbicide tolerant, drought resistant and non-genetically modified. Among these, the xx segment is witnessing significant growth over the forecast period. Custom-selected seeds with herbicide tolerance traits allow farmers to manage weeds with specific herbicides, making weed control more effective. Because they provide natural pest protection, custom-selected seeds with pest-resistant traits are in high demand.
The controlled environment agriculture (CEA) segment is expected to hold the largest share of the global custom selected seed market during the forecast period.
Based on cultivation method, the global custom selected seed market is classified into open field (OF) and controlled environment agriculture (CEA). Among these, the controlled environment agriculture (CEA) segment is expected to hold the largest share of the tea extract market during the forecast period. Fully automated closed-loop lighting, water, and ventilation systems are among the most advanced. Common practises include covering field-grown crops with plastic film, using nets or shade structures, and employing aquaponics systems, which combine fish or aquaculture with plant production.
The bulk packaging segment accounted for the largest revenue share over the forecast period.
On the basis of packaging type, the global custom selected seed market is segmented into bulk packaging, containers and bags. Among these, the bulk packaging segment dominates the market with the largest revenue share over the forecast period. Individual gardeners and commercial growers both benefit from custom-selected seeds in bulk packaging, driving market growth during the forecast period.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific dominates the market with the largest market share over the forecast period. Rising population and shifting dietary preferences are driving demand for specialised crops. Furthermore, custom seeds are required to optimise crop production due to APAC's diverse agro-climatic conditions. Rising agricultural investments, along with advances in seed technology and distribution networks, are propelling the Asia Pacific custom-selected seed industry forward. Farmers in India are increasingly preferring custom-selected seeds. They will pay a higher price for high-quality seeds. They can produce a large amount of high-quality fruits, vegetables, and other crops by using these seeds. As a result, the custom selected seed industry's environment is improving.
North America is expected to grow the fastest during the forecast period. The fruits & vegetables segment is also growing rapidly due to the increasing demand for fresh produce and the need for improved quality and yield such as crops in North America are diverse, including specialty crops such as fruits, vegetables, and niche products. Custom selected seeds with specific traits that cater to these speciality crops are in high demand
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global custom selected seed market are Shanghai Touch healthy Biotechnology Co., Ltd, Hebei Shuang Xing Seeds Co., Ltd., Beijing, Mantian Seeds Co., Ltd., Bayer Group, Clover Seeds, US Agri seeds, Genesis Seeds Ltd., Nirit Seeds Ltd., Sandia Seed Company, Tyler Farms, Anseme Srl, Tokita Seeds Co., Emerald Seed Company and Others.
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Recent Developments
- In February 2023, Corteva has released a new product called 'Optimum GLY Conala.' For canola farmers, it is a cutting-edge herbicide-resistant trait technology. Optimum GLY canola will be available for commercial planting in Canada and the United States through Corteva Agriscience seed brands Pioneer and Brevant seeds.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global custom selected seed market based on the below-mentioned segments:
Custom Selected Seed Market, Type Analysis
- Cereals
- Vegetables
- Oilseed
- Fruits
- Others
Custom Selected Seed Market, Traits Analysis
- Disease Resistant
- Herbicide Tolerant
- Drought Resistant
- Non-genetically modified
Custom Selected Seed Market, Packaging Analysis
- Bulk Packaging
- Containers
- Bags
- Others
Custom Selected Seed Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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