Hybrid Seeds Market Detalied Analysis and Revenue Growth Factors

Hybrid Seeds Market by Crop Type (Cereals & Grains, Oilseeds & Pulses, and Vegetables), Key Crop (Corn, Rice, Soybean, Cotton, Canola, Tomato, Hot pepper, Cucumber, Watermelon), Cultivation Type, and Region - Global Forecast to 2026

(EMAILWIRE.COM, January 10, 2022 ) The hybrid seeds market size is estimated to be valued at USD 25.2 billion in 2021 and is projected to be worth USD 34.9 billion by 2026, recording a CAGR of 6.7% during the forecast period. The growing demand in the food processing industry, biodiesel sector, feed processing industry is steering the growth of the market for hybrid seeds. Some of the major driving factors of the hybrid seeds market include the rising rate of seed replacement and an increase in demand for vegetables.

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The cereals & grains segment, by crop type, is projected to grow at the highest CAGR during the forecast period.

The market situation for cereals & grains has been marked by an abundance of supplies and slower growth in demand. However, the growth of cereals & grains segment is driven by improvement in yield and increased use in food-related applications. The developed and few developing countries would continue to remain the chief exporters of cereals, thereby catering to the growing demand from the food and feed industries.

The tomato segment, by key crop, is projected to grow at the highest CAGR during the forecast period.

The consumption of tomatoes is on the rise globally due to the popularity of convenience food products, along with changing preference toward fast food diet. The changing dietary habits of people have caught the attention of tomato processors that are directly procuring tomatoes from farmers. This in turn is increasing the demand for hybrid tomato varieties for better yield and disease resistance.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific is the fastest-growing region in the hybrid seeds market owing to the presence of some of the major seed producers in the world such as China, Thailand and India. Countries such as China, which is among the largest players in the global market for seeds, have been focusing on the adoption of hybrid crop varieties to attain yield improvement and disease resistance without using GM technology. Simultaneously, there has also been a growing demand from the export sector for cotton and soybean, which has supported the growth in the cultivation area and had an impact on the hybrid seeds market.

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Key players in this market include BASF SE (Germany), Bayer AG (Germany), and Syngenta Group (Switzerland). Product innovation, expansions & investments, mergers & acquisitions, joint ventures, and partnerships were some of the core strengths of the leading players in the hybrid seeds market.

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