The Philippines hybrid rice seed market is projected to register a CAGR of 5.1%, over the forecast period (2019-2024). Although the area under rice crop declined in 2016, over 2015, the area had expanded to reach 4.8 million hecatre in 2018. The production area of hybrid rice in the Philippines is still quite low (at around 200,000 hectare), as compared to some of its neighboring countries, such as Vietnam and Indonesia. Although the country is one of the major consumers of rice globally, it is still a net importer of the commodity. This is the reason that the country is aiming at boosting its domestic production of rice by introducing hybrid seeds.
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The market for hybrid rice is on the rise in the Philippines. As the government is pushing toward increasing the area under hybrid rice, it is trying to change the procurement method of hybrid rice, in order to provide better quality hybrid seeds to the farmers.
Scope of the Report
Hybrids are produced by crossing two inbred, genetically fixed varieties of a particular crop. The companies in the hybrid rice seed industry operate in B2B and B2C formats. The end users include farmers and institutional buyers operating in agricultural production.
Key Market Trends
Increasing Government Initiatives, like Food Staples Self-sufficiency Program
Rice is an important food crop, as well as a source of livelihood in the Philippines. The intakes from the “Food Staples Sufficiency Program 2011-2016” reveals that more than two million households are engaged in rice-based farming and trading for a living in the country. The report also mentions that around 45% of the calorie intake of the Filipinos comes from rice. Rice imports went up, owing to the growing population and increased incomes, particularly among the lower-income consumer groups. Imports as a proportion of consumption escalated to 16.4% in 2006-2010, from less than 1.4% in 2000’s. These supply shortages and price instability can further have serious implications for poverty and hunger in the country. Thus, in order to address these supply shortages, the government has taken an initiative named Food Staples Self-sufficiency Program (FSSP) to boost the overall agricultural productivity, in order to achieve the national goal of self-sufficiency. This policy provided the rice producers a stable and remunerative environment, conducive to invest in higher farm productivity. While rice is the main focus of FSSP, other equally healthy staples are also included in the program.
Increased Adoption toward Modern Rice Varieties
Over the years, technological innovations have been prominent in rice production in the Philippines. The establishment of two rice R&D institutions, namely, the Philippine Rice Research Institute (PhilRice) and the International Rice Research Institute (IRRI), paved the way for an extensive development of modern rice technologies in the Philippines. According to the International Rice Research Institute Data verse analysis, the choice of a rice variety to plant depends on many reasons, including high yielding, faster maturity rate, high milling recovery, and intermediate amylose content. Moreover, in the early 2000’s, the total rice area planted to modern varieties was 75% in both irrigated and rainfed areas, which increased to 100% in 2003. This further dropped down to 88%, in 2016. This sharp decline is primarily attributed to the modern varieties (developed in 2016) that failed to meet the desired yielding choices of the farmers.
Competitive Landscape
Bayer CropScience Inc. has been one of the most active players for the past five years in the Philippines hybrid rice seed market. Some of the other prominent players are Bioseed Research Philippines INC., Long Ping Hi-Tech, Meta-helix, Lifesciences Ltd, Pioneer Hi-Bred Philippines Inc., S L Agritech Corporation, and Syngenta Philippines Inc., among others.
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Table of Contents
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.4.1 Value Chain Overview
4.4.2 Price Markups in the Value Chain
4.4.3 Stakeholders in the Value Chain
5 MARKET SEGMENTATION
5.1 Distribution Channel
5.1.1 Governmental Distribution Channel
5.1.2 Private Distribution Channel
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Bayer Crop Science Inc.
6.3.2 Bioseed Research Philippines Inc.
6.3.3 Advanta Limited
6.3.4 Pioneer Hi-Bred Philippines Inc.
6.3.5 SL Agritech Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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They have finer lines and spaces (300, and higher connection pad density (>20 pads/cm2) than employed in conventional PCB technology.
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Market size by End User
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Market size by End User
Vcsel market growth 2021-2027New Study Reports " Vcsel market growth 2021: Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast To 2027" has been Added on MarketResearchFuture.Report OverviewThe report on the Vcsel market growth provided based on the recent developments and data that has been collated from the previous year’s looks to provide a thorough understanding.
Competitive analysis and prominent industry trends have been included in the in-depth study provided in the main section of the report.Market DynamicsFactors affecting the Vcsel market growth have been studied in a detailed fashion to give a better understanding regarding the current status and the prospects.
Back in 2018, the market was valued at USD 1.65 Billion.Top Impacting FactorsIn the MRFR study, the growing demand for laser-based hard disc drives does act as a driver to the market.
The foremost applications of VCSEL lie in data centers, high-speed communications, precision sensing applications, touch-less sensing, gesture recognition, enterprise networks, and chip-to-chip interconnects been liable for the market’s growth.
The other factors accountable for the expansion of the Vcsel market growth also include the emergent adoption of VCSEL in automotive electronics applications and the rising practice of VCSEL in data communications.
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