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NEWARK, Del, March 10, 2023 (GLOBE NEWSWIRE) — As per FMI, the global custom selected seed market size is set to reach US$ 2,067,345.1 thousand in 2023. Over the next ten years, global custom selected seed sales will rise at 6.9% CAGR. This will propel the global market valuation to US$ 3,991,402.3 thousand by 2033.
One of the key trends impacting the custom selected seeds market is the shift in agricultural practices worldwide. Adoption of precision farming is encouraging farmers to use custom selected seeds.
Farmers are showing a keen inclination towards purchasing custom selected seeds. This is due to rising awareness about the advantages of using improved seed varieties.
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Custom selected seeds offer advantages over conventional seeds. This includes higher yields, improved nutritional quality, reduced crop damage, disease resistance, etc.
These seeds allow farmers to develop large quantities of high-quality agricultural products. For instance, in India, custom based seeds generated 30% of agricultural earnings in 2019, as per the World Bank Group. Driven by this, sales of custom selected seeds are set to rise at a robust pace.
Increasing global population and consequent increase in food demand will elevate demand worldwide. By using custom selected seeds, farmers can counter the rising food insecurity.
Adoption of advanced technologies by farmers for their day-to-day activities will boost market. Smart connected technologies such as ZigBee, low power wide area (LPWA), Wi-Fi, and additional wireless sensing technologies enable farmers to efficiently plan and execute various agricultural and farming operations. This includes weather forecasting, soil-testing and enriching techniques, and so on.
Rising investments in finding new methods to enhance agricultural productivity via the use of artificial intelligence and automation will support market development.
Key Takeaways from the Global Custom Selected Seed Market Study
- Global custom selected seed sales are likely to surge at 6.9% CAGR between 2023 and 2033.
- By seed type, tomatoes segment dominates the market with a revenue share of about 55.3%.
- By cultivation method, controlled environment agriculture segment will expand at a healthy pace.
- North America is forecast to hold around 32.1% value share of the global market by the end of 2023.
- Custom selected seed demand across India is likely to rise at a healthy pace through 2033.
- China is set to emerge as one of the lucrative markets for custom selected seeds.
“Technologies related to agriculture fall under 4 key areas. This includes sensors, food, automation, and engineering. Technologies that extend the reach of agriculture to new means and new areas are quality seedling production, sowing, planting, festination techniques, and others. Use of these advanced technologies in agriculture will support expansion of the target market.” says an FMI analyst.
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Who is Winning?
Key players are focusing on adopting various growth strategies such as mergers and acquisitions to sustain their position in the target market. For instance, recently in 2023, Italy-based Maraldi Sementi Srl acquired Denmark-based spinach breeding company DeSeed. De Bolster focuses on sustainable solutions and harnesses the power of GeNee Technology to increase the available planting rates of its tomato, pepper, and cucumber seeds.
Leading custom selected seed manufacturers include US Agriseeds, Emerald Seed Company, Hazera Seeds USA Inc., East West Seed Co., Antaris Seeds S.L., Bozhou Swanf Natural Product Co., Ltd., Shanghai Touchhealthy Biotechnology Co., Ltd, Hebei Shuangxing Seeds Co., Ltd., Beijing Mantian Seeds Co., Ltd., Bayer Group, Clover Seeds, AreoFarms, Durga Seed Farms, Genesis Seeds Ltd., Nirit Seeds Ltd., Sandia Seed Company, Tyler Farms, Anseme Srl, Tokita Seeds Co., Ltd., and Asia Seed Co., Ltd. among others.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the global custom selected seed market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study divulges compelling insights on the global custom selected seed market based on seed type (tomatoes, peppers, cucumbers, lettuce, spinach, and strawberries), cultivation method (open field and controlled environment agriculture), and variant (commodity and premium) across several regions.
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Global Custom Selected Seed Market by Category:
- Open Field (OF)
- Controlled Environment Agriculture (CEA)
- By Variant:
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
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The consumer product team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the consumer product industry, the team is happy to help with every business intelligence research and consulting requirement.
Complete TOC with Report Preview: https://www.futuremarketinsights.com/reports/custom-selected-seed-market
Table of Content
1. Executive Summary | Custom Selected Seed Market
1.1. Global Market Overview
1.2. Summary of Key Statistics
1.3. Summary of Key Findings
1.4. Product Evolution Analysis
1.5. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Future Prospects of Custom Selected Seeds Industry
3.2.1. Factors Fuelling Growth
3.2.2. Influx of Brands
3.2.3. Innovative Distribution & Marketing Strategies
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