Rice Seeds Market to Witness Unprecedented Growth in Coming Years

Northbrook, USA, 2020-Aug-05 — /EPR Network/ — The rice seeds market is estimated to account for USD 5.47 billion in 2018 and is projected to reach USD 7.62 billion by 2023, at a CAGR of 6.85% during the forecast period. The benefits associated with the adoption of commercial rice seeds is a major factor contributing to the growth of this market globally. The economic growth of the  in developing countries and the increased R&D expenses in the agriculture industry drives the growth of this market.

The objectives of the report are as follows:

• Determining and projecting the size of the rice seeds market, with respect to type, hybridization technique, treatment, grain size, and regional markets, over a five-year period ranging from 2018 to 2023.
• Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions.
• Analyzing the demand-side factors based on the impact of macro and microeconomic factors on the market and shifts in demand patterns across different subsegments and regions.

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Long-grain rice seeds are estimated to be the most widely used variety of rice seeds in 2018.

Long grain rice is cultivated at a high rate across different countries due to the changing consumer demand and limited application of short grain rice in the food industry. The production of long rice has been growing across the globe, particularly in the US and Asian countries. Basmati and jasmine are some of the long grain rice varieties that are exported from Asia in large quantities and have industrial importance from the perspective of rice millers in terms of price value. In addition, hybrids and OPV seeds offered by key players such as Bayer and DowDuPont are mainly for long rice grains, followed by medium-sized rice and short rice.

The treated segment is projected to witness the fastest growth during the forecast period.

Seed treatment has been gaining importance for field crops, such as corn, wheat, and soybean, to reduce crop loss from early pest attacks. However, the adoption of this technology for rice is still gradual across countries. Rice is mainly cultivated in the Asian countries. However, farmers are reluctant toward investing capital on crop inputs and prefer adopting the traditional techniques of crop protection. Due to the rising need for sustainable agriculture and integrated pest management guidelines laid by governments in the Asian countries has encouraged farmers to adopt seed coating technologies. On the account of these factors, this segment is projected to grow at the highest rate during the forecast period.

Asia Pacific is estimated to dominate the market in 2018 and is projected to be the fastest-growing market for rice seeds through 2023.

Asia Pacific accounted for the largest share in the rice seeds market in 2017, followed by North America due to the high adoption of commercial open-pollinated varieties and hybrid rice seeds over farm-saved seeds to increase rice yield in countries such as China, India, Thailand, and the US. Development of improved hybrid seeds and the subsidy benefits provided by the government to encourage adoption of hybrid seeds over farm-saved or OPV seeds have contributed to the growth for this market. The major factors restraining the adoption of hybrid seeds are their high cost as compared to OPV seeds and the lack of awareness about the advantages of hybrids on crop yield and profit margins. Also, lack of skilled professionals and infrastructural facilities in the developing countries for hybridization techniques is projected to hinder the growth potential of this market.

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The global market for rice seeds is dominated by key players such as Bayer (Germany), DowDuPont (US), Syngenta (Switzerland), Advanta Seeds (UPL) (India), and Nuziveedu Seeds (India). Some of the emerging players in the rice seeds market include Mahyco (India), BASF (Germany), Kaveri Seeds (India), SL Agritech (Philippines), Rasi seeds (India), Rallis (India), JK Seeds (India), Hefei Fengle (China), LongPing (China), Guard Agri (Pakistan), and National Seeds Corporation (India).

Target Audience:

The stakeholders for the report are as follows:

• Biotechnological companies
• Genetic solution providers
• Plant & livestock breeders
• Public and private research institutions, agencies, and laboratories
• Commercial seed manufacturers (including both GM and non-GM seed manufacturers)
• Concerned government authorities and seed and plant breeding associations