June 22, 2015
Source: Companies and Markets
Global seed market vendors have had to adapt to the combined economic pressures of global population growth, climate change, scarcer land resources and shifting agricultural policy dynamics brought about as a result of increasingly stringent regulation.
The origins of modern agriculture stretch back millennia when the first farmers picked the best plants in one year to provide the best seed for their next crop. In the mid-19th century, Europe became the hub of agriculture technology and plant breeding when Gregor Mendel discovered the law of genetic inheritance in plants. Meanwhile, the first seed companies were established in Europe between the 18th and the mid-20th century. Many of these evolved out of agricultural cooperatives or were started by farmers specialising in seed selection and production.
Today, agricultural technology is a fast-growing sector, with a diverse range of companies involved, including GM technology pioneers such as Syngenta and Monsanto, through to traditional seed vendors such as Saxon, Gleadell and Vilmorin.
Seed is one of the most important factors of agriculture crop production on which the use of other agri-inputs efficiency depends. Biotech seeds are consequently seen as those products which can improve the return on investment and to respond to consumer demands for economical agricultural production by increasing per unit seed production and per hectare production.
India is projected to be the fastest growing market for seed, followed by China due to government initiatives in promoting technology driven agriculture practices. The cereals & grains segment is projected to be the biggest market for seed, globally, from 2015 to 2020.
Land-use efficiency is emerging as one of the key drivers for sustainable agricultural and food production systems. New, higher-yielding plant varieties will be required, alongside new seed innovations such as drought or salt tolerant crops, to help keep the existing and bring new land currently considered unfit for farming in productive agricultural use.
Significant R&D investment among seed companies has provided new technologies in order to expand the global seed market reach to achieve efficiency of crop production through the improved seeds or planting materials. Top ten companies accounted for major share in the global seed market revenue in 2014.
For more information on the global seed market, see the latest reports: Global Seed Market