The Global Rice Seed Market is projected to register a CAGR of 4.19%. Key Highlights. Largest Segment by Breeding Technology - Open Pollinated Varieties & Hybrid Derivatives : Open-pollinated varieties require fewer inputs, such as fertilizer and pesticides, and are less expensive than hybrid seeds and more affordable for low-income farmers.
New York, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Rice Seed Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381352/?utm_source=GNW
Largest Segment by Country - China : China is the largest country because it is the largest producer of rice, developed a new hybrid rice variety named Golden rice, and about 65% of the population consumes rice.
Fastest-growing Segment by Breeding Technology - Hybrids : The major companies are developing new hybrids and the adoption of hybrids is high due to disease-resistant, increased shelf life, high yield, and wider adaptability.
Fastest-growing Segment by Country - Italy : Italy is the fastest growing country as the population is changing its diet from pasta to rice and the availability of an abundance of water for cultivating rice.
Rice Seed Market Trends
Open Pollinated Varieties & Hybrid Derivatives is the largest segment by Breeding Technology.
In 2021, the total rice seed market accounted for 10% of the global row crops seed market. Rice is the staple food consumed in almost all countries, with high demand for consumption throughout the year.
Globally, hybrids accounted for only 27% of the total rice seed market in 2021. OPVs accounted for 73% of the total rice seed market in 2021 due to the inferior grain quality of rice and the high input requirements of hybrids.
Asia-Pacific was the largest region in the world in terms of rice production, and it accounted for 73% of the total rice seed market in the world in 2021. The demand for consumption and the increase in food safety concerns are driving the market in the region.
China had the largest hybrid rice seed market in 2021, accounting for 48% of the global hybrid rice seed market. The increase in food safety concerns and the development of hybrids since the 1970s brought food safety to all developing countries of Asia-Pacific.
Herbicide-tolerant rice seeds hold a market share of 30.3% in the global transgenic hybrid seed market in terms of value. The United States approved the most herbicide-tolerant rice seeds because the government was encouraging the introduction of more GM crops.
China is the only country in Asia-Pacific that produces insect-resistant transgenic hybrid rice, accounting for 75% of the market value in the Chinese transgenic hybrid rice seed market.
The increase in the concerns for productivity and the demand for consumption and self-sufficiency are expected to drive the rice seed market, registering a CAGR of 4.5% during the forecast period from 2022 to 2028.
Asia-Pacific is the largest segment by Region.
Asia-Pacific contributes a major share because the region has the largest area under cultivation, accounting for around 86% of the global area under rice cultivation. Rice is an important staple food in Asia-Pacific, especially in most populated countries. To meet the demand for consumption, the region is increasing production by using high-yielding varieties, thereby driving the growth of the market.
In South America, the hybrid segment had a major share compared to open-pollinated because fewer hybrid seeds (about 48kg/ha) are required to sow compared to open-pollinated seed varieties (64kg/ha). Thus, benefits associated with hybrids, such as high profitability and higher yield, are likely to drive the hybrid rice seed market in the region during the forecast period.
The usage of open-pollinated varieties is high in the Middle East, accounting for 96.3% of the overall rice cultivated in the Middle East because of the strict government regulations and low rate of seed replacement.
In Africa, the increase in the adoption of improved varieties of hybrid and OPV varieties resulted in an increase in yield. In Kenya, the yield increased to 22,061 hg/ha in 2020 from 19,353 hg/ha in 2019, an increase of 14%.
Thus, an increase in the area under cultivation in major cultivation regions, an increase in the use of commercial seeds, and the rising consumption due to the increasing population are expected to drive the growth of the market during the forecast period.
Rice Seed Market Competitive Analysis
The Global Rice Seed Market is fragmented, with the top five companies occupying 31.66%. The major players in this market are Advanta Seeds - UPL, Bayer AG, Corteva Agriscience, Syngenta Group and Yuan Longping High-Tech Agriculture Co., Ltd (sorted alphabetically).
The market estimate (ME) sheet in Excel format
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