The hybrid seeds market size is estimated to be valued at USD 25.2 billion in 2021 and is projected to be worth USD 34.9 billion by 2026, recording a CAGR of 6.7% during the forecast period.
The growing demand in the food processing industry, biodiesel sector, feed processing industry is steering the growth of the market for hybrid seeds. Some of the major driving factors of the hybrid seeds market include the rising rate of seed replacement and an increase in demand for vegetables.
With these countries accounting for the largest population, an ever-increasing demand for food grains also drives the hybrid seeds market growth. In developed markets, farmers are trying to maintain the crop yield and increase their returns. This sustained approach from developed and developing countries in agricultural practices has been driving the hybrid seeds market growth.
Asia Pacific is projected to grow at the highest CAGR during the forecast period
Asia Pacific is the fastest-growing region in the hybrid seeds market owing to the presence of some of the major seed producers in the world such as China, Thailand and India.
Countries such as China, which is among the largest players in the global market for seeds, have been focusing on the adoption of hybrid crop varieties to attain yield improvement and disease resistance without using GM technology.
Simultaneously, there has also been a growing demand from the export sector for cotton and soybean, which has supported the growth in the cultivation area and had an impact on the hybrid seeds market.
Some of the major players operating in the hybrid seeds market include BASF SE (Germany), Bayer AG (Germany), Syngenta Group (Switzerland), KWS SAAT SE (Germany), Land O’ Lakes (US), Sakata Seed Corporation (Japan), Groupe Limagrain (France), Corteva Agriscience (US), United Phosphorous Limited (India), DLF (Denmark), Longping Hi-tech (China), Rallis India Limited (India), Enza Zaden (The Netherlands), Takii & Co. Ltd (Japan), and Barenbrug Holding B.V (Netherlands). They also have manufacturing facilities along with strong distribution networks across these regions.
