The seeds market in Europe was valued around $60 billion in 2015 and is expected to surpass $102 billion by 2020, says Technavio.
Technavio has announced its latest market research report on seeds to its agricultural equipment portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the seeds market in Europe during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Bayer CropScience, DowDuPont, Limagrain, Monsanto, and Syngenta.
“One of the major trends gaining traction in this market is the growing innovations in seed technology. The growing demand for food production across the globe has led the vendors worldwide develop many innovative seed tehcnologies. These technologies are developed to lower the cost of production, improve the production yields and nutrition profiles, and offer value-added traits. The market is expecetd to witness the introduction of new GM crops, which offer better quality and high resistance to pests and insects ,” says Mantri Charan Kumar, senior analyst at Technavio.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Focus on high-yielding varieties
With the rise in population and growing urbanization, the demand for food is increasing but the availability of per capita arable land is declining. As per the Food and Agricultural Organization/Organization for Economic Co-operation and Development (FAO/OECD), it is expected that the field crop will grow at a slow rate and the global corn area will decline by around 2% during the forecast period. Such deteriorating conditions have pushed farmers to emphasize on the development of techniques that advocate better food production and make their farmlands more productive. Owing to such requirements, farmers have started using GM seeds, which have a long shelf life, are of high quality, and resistant to pests. To combat the challenges faced by the farmers, the vendors are focusing on introduction of hybrid seeds and GM seeds. For instance, the agricultural sector in the UK has grown significantly, primarily due to the increase in the yield per unit area rather than expansion of cultivated areas. This increment in yields per unit is possible only with the production of new crop varieties that use less water, fertilizers, offer higher yields, and are resistant to drought, pests, diseases, heat, and submersions. Factors such as decline in arable land coupled with the development of GM crops will aid in the growth of this market during the forecast period.
Rising demand for biofuels
Europe stands as one of the leaders in the biofuel legislation and the production and consumption of biodiesel. To reduce the global consumption of fossil fuels and limit pollution, a lot emphasis is made on the use of biofuels by the European government. It is due to the growing environmental concerns that the developed nations are observing a decline in conventional fuel consumption and an increase in the consumption of alternative fuels. Energy crops such as wheat, soybean, corn, rapeseed, and sugarcane are the source of biofuels. Compared to the current agricultural production, the biofuel feedstock production will be high in the coming years. Such production surges are expected to grow by extending the area that is dedicated to producing biofuel feedstocks. As the demand and production of these biofuels increases, a subsequent rise in demand is expected for the seeds required for the production of these biofuels.
Increasing investments in agricultural research
It has been observed over the past decades that the agricultural research field is growing with lots of new players entering the agricultural industry worldwide with new product innovations. Factors such as the advent of biotechnology and different scientific developments, growing stronghold of intellectual property rights (IPR) over these innovations, and a huge expansion of the agricultural input market globally have propelled many private companies to invest in agricultural research. The commercial sales of genetically modified seeds have increased owing to the various production benefits that these seeds offer to cultivars. The breeding of new seeds is a long-term process and the vendors are expected to produce enough quantities of the new variety to be sold in the market. Such massive investments aimed specifically at the innovations and advancements of crop seeds and biotechnology traits will be one of the major driving factors for the market.
Some of the other prominent vendors identified in this report are BASF, DLF, Gansu Dunhuang Seed, KWS, Land O’ Lakes, Mahyco, Sakata, and Takii.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Seeds Market in Europe 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Seeds Market 2016-2020
- Global Biofertilizers Market 2016-2020
- Global Seed Treatment Market 2016-2020
- Global Genetically Modified Seeds Market 2016-2020
- Hybrid Seeds Market in India 2015-2019
- Global Oilseed and Grain Seed Market 2015-2019
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