Market Size of seed Industry
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 73 Billion |
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Market Size (2030) | USD 99.94 Billion |
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Largest Share by Breeding Technology | Hybrids |
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CAGR (2024 - 2030) | 5.38 % |
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Largest Share by Region | North America |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Seed Market Analysis
The Seed Market size is estimated at 73 billion USD in 2024, and is expected to reach 99.94 billion USD by 2030, growing at a CAGR of 5.38% during the forecast period (2024-2030).
73 Billion
Market Size in 2024 (USD)
99.94 Billion
Market Size in 2030 (USD)
5.42 %
CAGR (2017-2023)
5.38 %
CAGR (2024-2030)
Largest Market by Crop Family
56.45 %
value share, Grains & Cereals, 2023
Factors such as high profit for growers, high consumption value as food, and the increase in demand from the lubricants industry for biofuel production make this the largest segment.
Largest Market by Country
25.49 %
value share, United States, 2023
It is a leading producer of high-value crops such as corn, soybean, and cucumber. The adoption of biotech crops and hybrid seeds is the highest in the country.
Fastest-growing Market by Crop Family
6.01 %
Projected CAGR, Oilseeds, 2024-2030
The rapid growth of the oilseeds segment is driven by the increasing area under GM oilseed crops and increasing demand for soybeans from the food and feed industries.
Fastest-growing Market by Country
8.37 %
Projected CAGR, Russia, 2024-2030
Russia is the largest country in the region with a vast agricultural growing area and has implemented high usage of commercial seeds, leading to rapid growth.
Leading Market Player
17.05 %
market share, Bayer AG, 2022
Bayer AG is the leader in the global seed market due to its product innovations, investments in research and development, and partnerships with regional players.
Hybrids dominate the market due to high yield, pest resistance, and other improved traits
- In 2022, hybrids dominated open-pollinated varieties, which accounted for a 73.0% share of the global seed market. Hybrid seeds witnessed high growth, mainly from major agriculture-producing countries, because of their various benefits, including higher productivity, wider adaptability, and a high degree of resistance to biotic and abiotic stresses. For instance, hybrids give 50% more yield in cotton than conventional varieties. Their wider adaptability is mainly due to their high buffering capacity to environmental fluctuations.
- In 2022, non-transgenic hybrid seeds accounted for 58.4% share of the global hybrid seed market, valued at USD 28.16 billion. The market increased by 20.2% between 2017 and 2022. The increase was mainly attributed to the need for higher yield, rising demand for organic products, and growing per capita consumption.
- New plant breeding techniques are allowing the development of new plant varieties with desired traits by modifying the DNA of the seeds and plant cells. Companies are heavily investing in new plant technologies due to the increasing demand for advanced and improved varieties that are adaptable to different climatic conditions, have high yield potential, are resistant to diseases, and are drought tolerant.
- In 2022, among transgenic hybrids, herbicide-tolerant crops held a higher share in the global seed market in terms of value, mainly because weeds were the major problem in crop cultivation and could cause a reduction of 20 to 25% in crop yield.
- Adopting improved open-pollinated varieties has many benefits, such as high yield, being well adapted to the local environment, and allowing crops to grow stronger. Due to the increase in demand, the share value of OPV increased by 9.2% in 2022 from the previous year.
North America has the largest seed market globally due to the higher adoption of hybrids, including transgenics
- North America is one of the largest agricultural regions in terms of production, which held the major share of 34.5% in the global seed market due to the rising area under major crops and the increase in seed replacement rate. For instance, the area harvested under cereals increased to 82.7 million hectares in 2022 from 79.2 million hectares in 2017.
- Asia-Pacific has one of the world's leading seed markets. Among Asia-Pacific countries, China was the largest seed market, with corn contributing a major share and accounting for 50.8% of China's seed market in 2022. This was mainly because of the adoption of biotech crops.
- Europe is one of the major producers of forages, with a market share of 26.7% in the global forage seed market in 2022. Major driving factors of the forage seed market include growing demand for feed products and shrinking land for grazing animals.
- In Africa, row crops held the largest share, accounting for 78.0% in 2022. The main reason for holding the major share of row crops is the increasing consumption with an increasing acreage under cultivation.
- From 2023-2030, South America's hybrid adoption rate is expected to exceed that of open-pollinated seed varieties due to a 10-15% increase in yield, good quality, and better return on investment. Therefore, hybrid seed adoption is expected to increase during the forecast period.
- The seed market in the Middle East is expected to grow moderately during the forecast period because of the lower usage of hybrid seeds in the Middle East. Growers are not interested in using transgenic seeds; hence, to meet domestic demand, they must import about 30-50% of crops from other countries.
Seed Industry Segmentation
Hybrids, Open Pollinated Varieties & Hybrid Derivatives are covered as segments by Breeding Technology. Open Field, Protected Cultivation are covered as segments by Cultivation Mechanism. Row Crops, Vegetables are covered as segments by Crop Type. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.
- In 2022, hybrids dominated open-pollinated varieties, which accounted for a 73.0% share of the global seed market. Hybrid seeds witnessed high growth, mainly from major agriculture-producing countries, because of their various benefits, including higher productivity, wider adaptability, and a high degree of resistance to biotic and abiotic stresses. For instance, hybrids give 50% more yield in cotton than conventional varieties. Their wider adaptability is mainly due to their high buffering capacity to environmental fluctuations.
- In 2022, non-transgenic hybrid seeds accounted for 58.4% share of the global hybrid seed market, valued at USD 28.16 billion. The market increased by 20.2% between 2017 and 2022. The increase was mainly attributed to the need for higher yield, rising demand for organic products, and growing per capita consumption.
- New plant breeding techniques are allowing the development of new plant varieties with desired traits by modifying the DNA of the seeds and plant cells. Companies are heavily investing in new plant technologies due to the increasing demand for advanced and improved varieties that are adaptable to different climatic conditions, have high yield potential, are resistant to diseases, and are drought tolerant.
- In 2022, among transgenic hybrids, herbicide-tolerant crops held a higher share in the global seed market in terms of value, mainly because weeds were the major problem in crop cultivation and could cause a reduction of 20 to 25% in crop yield.
- Adopting improved open-pollinated varieties has many benefits, such as high yield, being well adapted to the local environment, and allowing crops to grow stronger. Due to the increase in demand, the share value of OPV increased by 9.2% in 2022 from the previous year.
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Seed Market Size Summary
The seed market is experiencing significant growth, driven by the increasing demand for hybrid seeds, which dominate the market due to their higher productivity and adaptability. Hybrid seeds, particularly non-transgenic varieties, are gaining traction as they offer substantial benefits such as increased yield and resistance to environmental stresses. The adoption of new plant breeding techniques is further propelling the market, allowing for the development of seed varieties with desirable traits like disease resistance and drought tolerance. This innovation is crucial as it meets the rising demand for advanced seed varieties that can thrive in diverse climatic conditions. The market is also witnessing a shift towards improved open-pollinated varieties, which are valued for their local adaptability and strength.
Regionally, North America and Asia-Pacific are leading the seed market, with North America holding a significant share due to its extensive agricultural production and high seed replacement rates. Asia-Pacific, particularly China, is notable for its large seed market, driven by the adoption of biotech crops. Europe and Africa also contribute to the market, with Europe focusing on forage seeds and Africa seeing a rise in row crop cultivation. The Middle East shows moderate growth, with a reliance on imported seeds to meet domestic demand. The market is moderately consolidated, with major players like BASF, Bayer, Corteva, Groupe Limagrain, and Syngenta leading the industry. These companies are actively introducing new seed varieties to cater to the evolving agricultural needs, ensuring the market's continued expansion.
Seed Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2030 and analysis of growth prospects)
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1.1 Breeding Technology
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1.1.1 Hybrids
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1.1.1.1 Non-Transgenic Hybrids
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1.1.1.2 Transgenic Hybrids
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1.1.1.2.1 Herbicide Tolerant Hybrids
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1.1.1.2.2 Insect Resistant Hybrids
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1.1.1.2.3 Other Traits
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1.1.2 Open Pollinated Varieties & Hybrid Derivatives
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1.2 Cultivation Mechanism
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1.2.1 Open Field
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1.2.2 Protected Cultivation
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1.3 Crop Type
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1.3.1 Row Crops
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1.3.1.1 Fiber Crops
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1.3.1.1.1 Cotton
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1.3.1.1.2 Other Fiber Crops
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1.3.1.2 Forage Crops
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1.3.1.2.1 Alfalfa
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1.3.1.2.2 Forage Corn
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1.3.1.2.3 Forage Sorghum
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1.3.1.2.4 Other Forage Crops
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1.3.1.3 Grains & Cereals
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1.3.1.3.1 Corn
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1.3.1.3.2 Rice
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1.3.1.3.3 Sorghum
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1.3.1.3.4 Wheat
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1.3.1.3.5 Other Grains & Cereals
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1.3.1.4 Oilseeds
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1.3.1.4.1 Canola, Rapeseed & Mustard
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1.3.1.4.2 Soybean
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1.3.1.4.3 Sunflower
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1.3.1.4.4 Other Oilseeds
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1.3.1.5 Pulses
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1.3.2 Vegetables
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1.3.2.1 Brassicas
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1.3.2.1.1 Cabbage
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1.3.2.1.2 Carrot
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1.3.2.1.3 Cauliflower & Broccoli
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1.3.2.1.4 Other Brassicas
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1.3.2.2 Cucurbits
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1.3.2.2.1 Cucumber & Gherkin
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1.3.2.2.2 Pumpkin & Squash
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1.3.2.2.3 Other Cucurbits
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1.3.2.3 Roots & Bulbs
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1.3.2.3.1 Garlic
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1.3.2.3.2 Onion
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1.3.2.3.3 Potato
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1.3.2.3.4 Other Roots & Bulbs
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1.3.2.4 Solanaceae
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1.3.2.4.1 Chilli
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1.3.2.4.2 Eggplant
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1.3.2.4.3 Tomato
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1.3.2.4.4 Other Solanaceae
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1.3.2.5 Unclassified Vegetables
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1.3.2.5.1 Asparagus
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1.3.2.5.2 Lettuce
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1.3.2.5.3 Okra
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1.3.2.5.4 Peas
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1.3.2.5.5 Spinach
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1.3.2.5.6 Other Unclassified Vegetables
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1.4 Region
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1.4.1 Africa
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1.4.1.1 By Breeding Technology
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1.4.1.2 By Cultivation Mechanism
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1.4.1.3 By Crop
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1.4.1.4 By Country
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1.4.1.4.1 Egypt
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1.4.1.4.2 Ethiopia
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1.4.1.4.3 Ghana
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1.4.1.4.4 Kenya
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1.4.1.4.5 Nigeria
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1.4.1.4.6 South Africa
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1.4.1.4.7 Tanzania
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1.4.1.4.8 Rest of Africa
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1.4.2 Asia-Pacific
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1.4.2.1 By Breeding Technology
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1.4.2.2 By Cultivation Mechanism
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1.4.2.3 By Crop
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1.4.2.4 By Country
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1.4.2.4.1 Australia
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1.4.2.4.2 Bangladesh
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1.4.2.4.3 China
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1.4.2.4.4 India
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1.4.2.4.5 Indonesia
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1.4.2.4.6 Japan
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1.4.2.4.7 Myanmar
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1.4.2.4.8 Pakistan
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1.4.2.4.9 Philippines
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1.4.2.4.10 Thailand
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1.4.2.4.11 Vietnam
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1.4.2.4.12 Rest of Asia-Pacific
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1.4.3 Europe
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1.4.3.1 By Breeding Technology
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1.4.3.2 By Cultivation Mechanism
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1.4.3.3 By Crop
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1.4.3.4 By Country
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1.4.3.4.1 France
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1.4.3.4.2 Germany
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1.4.3.4.3 Italy
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1.4.3.4.4 Netherlands
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1.4.3.4.5 Poland
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1.4.3.4.6 Romania
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1.4.3.4.7 Russia
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1.4.3.4.8 Spain
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1.4.3.4.9 Turkey
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1.4.3.4.10 Ukraine
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1.4.3.4.11 United Kingdom
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1.4.3.4.12 Rest of Europe
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1.4.4 Middle East
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1.4.4.1 By Breeding Technology
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1.4.4.2 By Cultivation Mechanism
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1.4.4.3 By Crop
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1.4.4.4 By Country
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1.4.4.4.1 Iran
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1.4.4.4.2 Saudi Arabia
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1.4.4.4.3 Rest of Middle East
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1.4.5 North America
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1.4.5.1 By Breeding Technology
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1.4.5.2 By Cultivation Mechanism
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1.4.5.3 By Crop
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1.4.5.4 By Country
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1.4.5.4.1 Canada
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1.4.5.4.2 Mexico
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1.4.5.4.3 United States
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1.4.5.4.4 Rest of North America
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1.4.6 South America
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1.4.6.1 By Breeding Technology
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1.4.6.2 By Cultivation Mechanism
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1.4.6.3 By Crop
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1.4.6.4 By Country
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1.4.6.4.1 Argentina
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1.4.6.4.2 Brazil
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1.4.6.4.3 Rest of South America
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Seed Market Size FAQs
How big is the Global Seed Market?
The Global Seed Market size is expected to reach USD 73.00 billion in 2024 and grow at a CAGR of 5.38% to reach USD 99.94 billion by 2030.
What is the current Global Seed Market size?
In 2024, the Global Seed Market size is expected to reach USD 73.00 billion.
