Data Bridge Market Research analyses that the drought-tolerant seeds market will project a compound annual growth rate (CAGR) of 6.20% during the forecast period of 2021-2028. Growing demand to control various crop related diseases, rising demand for new and mechanized techniques for farming or agriculture especially in the developing countries, rapidly growing demand for high quality and high yield seeds, rising integration of advanced technology with the agricultural equipment and increasing industry competitiveness are the major factors attributable to the growth of drought-tolerant seeds market. This means that the drought-tolerant seeds market value, which was USD 6.0 billion in 2020 will climb up to USD 9.70 billion by the year 2028.
Water scarcity is one of the biggest reasons for the crop productivity failure. Drought tolerant seeds are a kind of genetically modified seeds that are especially sown in drought hit areas or areas with scarcity of water such as deserts. Drought tolerant seeds play a big role in providing food security to the countries especially during uncertain economic conditions.
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Growing depletion of water from all kinds of sources, rising production of cereals and food grains that require too much of irrigation, and increased focus on the research and development proficiencies will emerge as the major factors fostering the growth of the market. Also, growing demand for effective and efficient crop protection tools to improve the crop productivity coupled with rising food safety concerns is another important factor fostering the growth of the market. Growth in the demand for fruit and vegetable food items, ever-rising global population and rising prevalence of environment sustainable seeds will further create lucrative and remunerative growth opportunities for the market.
However, high cost associated with genetically modified seeds is a major factor that will pose a major challenge to the growth of the market. Also, stringent regulations imposed by the government on the use of technology associated with manufacturing genetically modified seeds and lack of awareness regarding the drought tolerant seeds among the farmers in the underdeveloped economies will further slowdown the market growth rate.
Competitive Landscape and Drought-Tolerant Seeds Market Share Analysis
The global drought-tolerant seeds market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to drought-tolerant seeds market.
The major players covered in the drought-tolerant seeds market report are BASF SE, DuPont., Dow, Syngenta Crop Protection AG, Bayer AG, Nuseed, CALYXT, Stine Seed Company., Mahyco, J.R. Simplot Company., JK Agri Genetics Limited, Corteva Agriscience, Cyanamid Agro Ltd., ICAR-Central Institute of Brackishwater Aquaculture, Rhône-Poulenc, among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Global Drought-Tolerant Seeds Market Scope and Market Size
The global drought-tolerant seeds market is segmented on the basis of seed type, sales channel and crop type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on the seed type, the drought-tolerant seeds market is segmented into fruit seed, vegetable seed, grain seed, oil seed and others.
The drought-tolerant seeds market is also segmented on the basis of sales channel into direct sales, e- retailers (Online) and retail outlets (Offline).
The drought-tolerant seeds market is segmented on the basis of crop type into corn/ maize, soybean, cotton, canola, grains and others.
Drought-Tolerant Seeds Market Country Level Analysis
The global drought-tolerant seeds market is analyses and market size, volume information is provided by country by seed type, sales channel and crop type as referenced above.
The countries covered in the drought-tolerant seeds market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America region dominates the drought-tolerant seeds market and will continue to flourish its dominance during the forecast period owing to the rising land under agricultural domain, prevalence of advanced agricultural technologies and rise in demand for genetically modified seeds. Asia-Pacific region will score the highest CAGR during the forecast period. Growing awareness among the farmers, increasing personal disposable income, rising climate changes and surge in the expenditure for research and development proficiencies are some other important factors fostering the growth of this region.
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