Newark, April 23, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 6 billion in 2023 global wheat seed market will reach USD 8.88 billion in 2033. The reproductive organs of the wheat plant are the seeds. Farmers plant tiny, dry grains called wheat seeds to produce wheat crops. A basic diet for millions of people globally is wheat. Wheat seeds are significant in many fields. Since wheat is one of the most extensively planted cereal crops in the agricultural sector, wheat seeds are essential to its cultivation. Wheat grains are processed to create flour, a vital component of many baked goods, pasta dishes, pastries, and cereals for breakfast. Many diets are built around wheat flour, which is high in proteins, fibre, carbohydrates, and vitamins and minerals. Additionally, wheat seeds are fed to pigs, cattle, and chickens. The residual stem from harvested wheat plants, known as wheat straw, is used to make paper, compost, and animal bedding. Because of its moisturizing and antioxidant qualities, wheat germ oil derived from wheat seeds is used in skincare products, cosmetics, and pharmaceutical items. Wheat is sold on commodity exchanges, and changes in its price can have a big effect on world economies. Wheat production is important economically since it is a major source of jobs and income for many nations. By stabilizing the soil with their root systems, wheat plants aid in the prevention of soil erosion. Wheat fields also serve as carbon sinks, absorbing carbon dioxide from the atmosphere during photosynthesis and retaining it in the soil to aid in the fight against climate change.
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Report Coverage Details
Report Coverage | Details |
Forecast Period | 2024–2033 |
Base Year | 2023 |
Market Size in 2023 | USD 6 Billion |
Market Size in 2033 | USD 8.88 Billion |
CAGR | 4% |
No. of Pages in Report | 237 |
Segments Covered | Breeding Technology, Type, and End User |
Drivers | The rapidly growing world population |
Opportunities | The growing emphasis on food security in the face of climate change |
Key Insight of the Global Wheat Seed Market
North America will dominate the market during the forecast period.
The United States and Canada are in the lead regarding wheat production and consumption. The area benefits from agroclimatic conditions that are ideal for growing wheat. High yields and effective wheat production are made possible by these conditions. The use of cutting-edge agricultural technologies and methods also increases productivity. Wheat can be moved from fields to processing plants and distribution routes more effectively because of North America's advanced infrastructure and logistics networks. This strong infrastructure demonstrates North America's dominating position in the wheat sector by ensuring dependable supply chains and access to local and international markets. Strong domestic consumption of baked goods, pasta, and bread items made from wheat also contributes to the region's growth.
In 2023, the open-pollinated varieties & hybrid derivatives segment dominated the market with the largest market share of 77% and revenue of 4.62 billion.
The breeding technology segment is divided into hybrids and open-pollinated varieties & hybrid derivatives. In 2023, the open-pollinated varieties & hybrid derivatives segment dominated the market with the largest market share of 77% and revenue of 4.62 billion.
In 2023, the spring wheat seeds segment dominated the market with the largest market share of 64% and revenue of 3.84 billion.
The type segment is divided into spring wheat seeds and winter wheat seeds. In 2023, the spring wheat seeds segment dominated the market with the largest market share of 64% and revenue of 3.84 billion.
In 2023, the farms segment dominated the market with the largest share of 85% and revenue of 5.10 billion.
The end-user segment is divided into institutes and farms. In 2023, the farms segment dominated the market with the largest share of 85% and revenue of 5.10 billion.
Advancement in market
To increase future sales of the drought-tolerant product, Argentine biotech company Bioceres will extend sales of its HB4 wheat seeds—which leverage the power of genetically modified organisms (GMOs)—to dozens more seed firms. The news of collaborating with more seed multipliers—companies that supply farmers with seeds but don't create new kinds themselves—signals a step forward in the acceptance of Bioceres' exclusive HB4 wheat.
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Market Dynamics
Driver: The world's population is expanding quickly.
Wheat and other food crops are in high demand due to population growth, which increases the amount of food produced to meet nutritional needs. Consumption of wheat-based items, such as processed foods and baked goods, has increased relative to other lower-quality goods consumed before the rise in wealth due to shifting dietary preferences brought on by economic expansion and rising per capita income. Wheat's nutritious content drives the demand for animal feed, which drives the growth of the livestock business. The increased emphasis on renewable energy sources has resulted in the manufacture of biofuels from wheat grains, such as ethanol, which has increased demand for wheat seeds. The demand for wheat seeds and cultivation is further increased by the need for wheat in the paper, energy, animal bedding, cosmetics, skincare, and pharmaceutical industries. As a result, throughout the forecast period, the growing population and other related factors will fuel demand for wheat seeds and support the expansion of the market.
Restraints: The difficulties in maintaining wheat seed.
For wheat seeds to maintain their quality and integrity, particular climatic factors are needed, such as low moisture content and steady temperatures. Temperature changes hasten the ageing process of seeds, whilst high humidity can encourage fungus growth and seed degeneration. Infestation of pathogens and pests are additional serious problems that call for sanitation protocols and pest management techniques. Natural ageing mechanisms cause stored wheat seeds to deteriorate with time and have lower germination rates. Post-harvest losses result from most farmers having little or no access to adequate storage infrastructure and resources. As a result, inadequate storage facilities hinder the expansion of the market and add to the rising maintenance issues with wheat seed.
Opportunities: An increasing focus on food security in light of climate change.
The market will expand due to the increased research and development to improve wheat resilience and lessen the negative effects of climate change. There is a growing movement in the scientific, agricultural, and agro-business communities to use traditional breeding and biotechnology methods to create wheat cultivars resistant to climate change. Similarly, informed decision-making is aided by precision agriculture tools, including digital mapping, data analytics, and remote sensing. Thus, the growing focus on food security has enabled more research and development to create crops resistant to climate change, which will propel the market's expansion throughout the forecast period.
Challenges: Extreme weather events driven by climate change crisis.
Drought, floods, high temperatures, salinity, waterlogging, and extreme weather events impact seed germination, root development, and grain formation. Extreme weather events such as storms, hail, and frost can physically damage seeds and plants, reducing yield and quality. These environmental stressors will challenge the global wheat seed market's growth.
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Some of the major players operating in the global wheat seed market are:
• Advanta Seeds
• Agrovegetal
• AGT
• DuPont Pioneer
• Groupe Limagrain
• KWS
• Monsanto
• Northern Seeds
• Pro Harvest
• RAT
Key Segments covered in the market:
By Breeding Technology
• Hybrids
• Open Pollinated Varieties & Hybrid Derivatives
By Type
• Spring Wheat Seeds
• Winter Wheat Seeds
By End User
• Institutes
• Farms
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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