This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global rice seed market report based on the product, grain size, and region:
The global rice market report covers production volume, consumption volume and value, import volume and value, export volume and value, and price trend analysis across emerging and established markets globally, including major markets in North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The report offers the market size and forecasts in terms of volume in thousand metric ton and value in USD million for all the above segments.
In-depth industry statistics and market share insights of the Rice sector for 2020, 2021, and 2022. The Rice research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Rice report PDF.
According to the United Nations Food and Agriculture Organization (FAO) 2019 data, the global rice production accounted for nearly 755 million metric tonnes in 2018, with around 90% being produced in Asian countries. Recent technologies have led to the development of hybrid type of rice seeds that produce 20-25% higher yields and offer increased resilience to abiotic and biotic stress conditions, requiring fewer inputs such as water and pesticides. With an increasing population across the world, the demand for rice is also surging in the market as rice acts as a staple food for ~60% of the global population. Thus, rice yield per unit area has also grown to meet this growing demand and serve rice to several end-users. The government and various research institutes are collaborating to come up with new hybrid rice variants and promote their utilization by the farmers. For instance, in September 2019, the International Rice Research Institute (IRRI) and African Agricultural Technology Foundation (AATF) signed a four-year partnership agreement to help farmers in Africa to increase their rice productivity and income by adopting good quality rice seeds and sustainable agronomic practices.
According to the Food and Agriculture Organization (FAO), rice provides 27% of the dietary energy supply, 20% of the dietary protein, and 3% of the dietary fat to nearly 33 developing rice-consuming countries. Global rice consumption is witnessing robust growth, which is driven by factors, such as high population and economic growth in the developing countries. According to the report published by Organization for Economic Co-operation and Development 2019, Asia Pacific and Africa are the two major consumers of rice worldwide. The report also states that the global consumption of rice is projected to increase by 67 million tonnes by 2028. Thus, farmers are intensively focusing on increasing rice yields with their limited lands, which is anticipated to further boost the adoption of hybrid seeds in the market.
The full-fledged adoption of hybrid rice is held-back by the factors such as longer regulatory approvals and their high research and development costs. The regulatory approvals are time-consuming due to the frequent changes in law enforcement and amendments, which are regulated by the new rules and regulations laid down by the government. For instance, in India, in 2019, a seed bill was passed, which threatens the seed sovereignty and freedom along with undermining the rights of the farmers. Such factors lead to clashes between the farmers and the government; thereby, hampering the overall seed sector. The high R&D cost is another reason hampering the market performance. Thus, the overall hybrid rice seeds development and manufacturing is a long and costly process that acts as a major restraint in its market growth.
Asia Pacific leads the global hybrid rice seeds market and is anticipated to remain the same in the forecast period due to the increasing demand and consumption of rice in the region. Countries, such as China, India, Vietnam, and Thailand, are among the major producers of rice. Hence, they hold the larger chunk in the global rice seed market.
The market research report provides qualitative and quantitative insights into the market. It also offers a detailed analysis of the market size and growth rate for all possible segments in the market. Along with this, the report includes an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are an overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in critical countries, and key hybrid rice seeds industry trends.
The global hybrid rice seeds market size was USD 2.06 billion in 2019. The global impact of COVID-19 has been unprecedented and staggering, with hybrid rice seeds witnessing a negative impact on demand across all regions amid the pandemic.
The global hybrid rice seeds market size was USD 2.06 billion in 2019. The global impact of COVID-19 has been unprecedented and staggering, with hybrid rice seeds witnessing a negative impact on demand across all regions amid the pandemic. Read More at:-
The rice seeds market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth of the market in this region is mainly attributed to the by high population density, which is constantly growing, especially in countries such as India and China. In addition to this, around one fourth of the population residing in Asian countries falls in the poor category. These countries are expected to drive the rice consumption in the Asia Pacific countries. However, countries such as Japan and South Korea, where income is quite high, the per capita rice consumption has started declining. The constantly increasing population and shortage of cultivation area are two of the major issues that need to be addressed in the global rice seeds market. There is a strong need to increase productivity of rice cultivation to meet the growing need across the Asia Pacific region.
A few players operating in the rice seeds market are BASF SE, Bayer AG, DuPont de Nemours, Inc., Guard Rice Mills, Kaveri Seeds, Mahyco, Nuziveedu Seeds Limited, Rallis India Limited, Rasi Seeds (P) Ltd., and SL-Agritech among many others. The key companies implement the mergers and acquisitions, and research and development strategies to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally. 2b1af7f3a8