Market Trends of canola seed Industry (seed for sowing)
Asia-Pacific dominated the area under canola cultivation due to high domestic demand and suitable climatic conditions
- Canola, rapeseed, and mustard are prominent oilseed crops cultivated worldwide. From 2016 to 2022, global canola acreage witnessed a 15.4% surge, with Asia-Pacific leading the way. In 2022, the region's canola acreage reached 19.2 million hectares, capturing a commanding 49.0% of the global share. Within Asia-Pacific, India and China emerged as the key players, with cultivated areas of 8.0 million hectares and 6.9 million hectares, respectively, in 2022. Together, they accounted for a significant 77.5% of the region's total. India, in particular, stands as the world's largest canola producer, experiencing a remarkable 39.1% growth in acreage from 2016 to 2022. This surge was primarily driven by robust domestic demand, especially in northern India, where canola is a popular cooking oil.
- North America ranks as the second-largest canola-producing region, representing 25.6% of the global acreage in 2022. Over the 2016-2022 period, the region witnessed a 9.3% growth. Canada dominates this landscape, commanding a staggering 91.0% of the region's canola acreage in 2022. Canadian acreages saw an 8.1% rise from 2016 to 2022, contributing to 20% of the world's canola production, largely driven by surging demand from the food and fuel sectors.
- In 2022, Europe accounted for 24.0% of the global canola acreage, marking an 11.8% increase from 2017 to 2022. Russia emerged as the major producer in the region, commanding 21.4% of the total canola acreage, with a notable 93% surge from 2016 to 2022. South America and Africa held a modest 0.7% and 0.4% share, respectively, of the global canola acreage in 2022. Given the rising demand from the oil industry, a further uptick in acreages is anticipated during the forecast period.
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The demand for traits with disease resistance, quality attributes, high oleic content, and drought tolerance for improving the yield of canola is increasing
- Canola dominates as the primary oilseed crop in several countries, finding applications in edible oil, feed, and feed meals. Key quality attributes, including plant height, leaf and ear size, shape, color, maturity, and winter resilience, are being emphasized by major players like Bayer AG, Land O' Lakes, and Corteva Agriscience. Notably, Corteva Agriscience's PT279CL and Bayer AG's Truflex exemplify these quality attributes.
- Disease resistance is a pivotal trait, given canola's vulnerability to ailments like light leaf spots, club roots, black legs, verticillium stem stripe, and sclerotinia. Corteva Agriscience's PT303 and PX131n showcase resistance to light leaf spot and Sclerotinia. Nufarm's Nuseed brand, on the other hand, offers resistance to black legs, club roots, and anti-shatter diseases. Additionally, the trait of wider adaptability is gaining traction, driven by evolving weather patterns and diverse soil types across regions.
- Other sought-after traits, such as high oleic content, lodging resistance, and drought tolerance, are commanding premium prices. In Australia, for instance, canola traits in demand include drought tolerance and early maturity, aligning with the country's changing climate and escalating dry spells. Land O' Lakes' seed varieties, like Surt and Roundup Ready, boast drought tolerance and lodging resistance.
- Seed companies are equipping growers with traits that enhance disease resistance and exhibit high-quality attributes, which may foster market growth in the coming years.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Transgenic and hybrid breeding techniques hold higher shares due to the rising demand for high-quality canola from processing industries
