Oilseed and Grain Seed Market to Rise due to Growing Global Population
The Global Oilseed and Grain Seed Market CAGR of 4.20% is estimated to reach USD 243.542 billion, registering a from 2023 to 2030.
Market Research Future (MRFR) has announced the release of a new report on the global oilseed and grain seed market. The report examines the global oilseed and grain seed market in detail by profiling the leading segments of the market, the leading players operating in the market, and the major drivers and restraints affecting the growth of the market. The past growth patterns of the global Oilseed and Grain Seed Market Research are studied in great detail in the report in order to provide a solid foundation for projections about the market’s future growth trajectory over the forecast period.
The demand for oilseed and grain seed has been driven at a solid rate over the last decade and more due to the constant increase in the global population. This has driven the demand for food crops and is likely to remain the key driver for the oilseed and grain seed market over the forecast period. The rising affluence of consumers in emerging regions such as Southeast Asia, the Middle East, Africa, and South America is likely to be a major driver for the global oilseed and grain seed market over the forecast period, as these consumers are now financially able to purchase increasing amounts of oilseed and grain seed products. The rising prosperity in these emerging regions is thus likely to be a major driver for the global oilseed and grain seed market over the forecast period.
The global oilseed and grain seed market is segmented on the basis of type and seed type.
The global oilseed and grain seed market is bifurcated into oilseed and grain seed by type. Of these, the oilseed segment is further sub-segmented into soybean, sunflower, canola, and cotton, while the grain seed segment includes corn, wheat, rice, and millet.
By seed type, the global oilseed and grain seed market is segmented into seeds with traits and other seeds. The seeds with traits segment is segmented into seeds with herbicide resistance and seeds with insecticide resistance.
Regionally, the global oilseed and grain seed market is segmented into North America, Europe, Asia Pacific, and rest of the world.
The U.S. and Asia Pacific hold the largest cultivation areas for oilseed and grain seed and are likely to remain the global leaders in the market over the forecast period. The traditional stronghold of the agriculture industry in the U.S. is likely to continue to drive the oilseed and grain seed market over the forecast period, as the country is home to some of the largest grain producing companies in the world and is likely to remain a dominant leader in the market in the coming years. Two of the top five grain producing companies in the world are situated in the U.S.
Asia Pacific has always been an agriculture-centric region, with several countries in the region still relying primarily on agriculture for their GDP. This is likely to drive the oilseed and grain seed market in the region over the forecast period. The rising population in Asia Pacific is also likely to drive the oilseed and grain seed market in the region over the forecast period. Governments in the region are also looking to achieve large-scale technological updation of the agriculture sector, which could also benefit the Oilseed and Grain Seed Market Report in the region over the forecast period. China is the second largest producer of oilseed and grain seed in the world, which could prove to be a major factor in ensuring the Asia Pacific oilseed and grain seed market’s constant growth over the forecast period.
Leading players in the global oilseed and grain seed market include Bayer Cropscience AG, Dow AgroSciences LLC, Gansu Dunhuang Seed Co. Ltd., Krishidhan Seeds Pvt. Ltd., Land o’Lakes Inc., Limagrain, KWS Saat AG, Hefei Fengle Seed Co. Ltd., DuPont de Nemours and Company, and Burrus Seed Farm.
In October 2018, Cargill announced plans to shut down its crush plant in northwest New South Wales due to an impending reduction in the supply of affordable cottonseed.
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