Newark, April 23, 2024 (GLOBE NEWSWIRE) — Brainy Insights predicts that the global wheat seed market size will be US$6 billion in 2023 and will reach US$8.88 billion by 2033. Farmers grow tiny dry grains called wheat seeds to produce the wheat crop. Wheat is a staple in the diet of millions of people around the world. Wheat seeds are important in many fields. Since wheat is one of the most widely grown cereal crops in agriculture, wheat seeds are crucial for its cultivation. Wheat grains are processed into flour, which is an important component of many baked goods, pasta, pastries and breakfast cereals. Many diets are based on wheat flour, which is rich in protein, fiber, carbohydrates, vitamins and minerals. Additionally, wheat seeds are fed to pigs, cows, and chickens. The remaining stems of the wheat plant, called straw, are harvested and used to make paper, compost and animal bedding. Wheat germ oil, extracted from wheat seeds, is used in skin care products, cosmetics and pharmaceuticals due to its moisturizing and antioxidant properties. Wheat is sold on commodity exchanges, and changes in its price can have a significant impact on the world economy. Wheat production is economically important as it is a major source of employment and income in many countries. By stabilizing the soil through their roots, wheat plants help prevent soil erosion. Wheat fields also act as carbon sinks, absorbing carbon dioxide from the atmosphere during photosynthesis and retaining it in the soil to help combat climate change.
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Report coverage details
| Reporting scope | detail |
| forecast period | 20242033 |
| base year | 2023 |
| Market size in 2023 | $6 billion |
| Market size in 2033 | US$8.88 billion |
| CAGR | 4% |
| Report page count | Chapter 237 |
| Market segments covered | Breeding techniques, types and end users |
| driver | Rapidly growing world population |
| Chance | In the face of climate change, people are increasingly paying attention to food security |
Key Insights into the Global Wheat Seeds Market
North America will dominate the market during the forecast period.
The United States and Canada lead in wheat production and consumption. The region benefits from agro-climatic conditions that are ideal for growing wheat. These conditions make high yields and efficient production of wheat possible. The use of cutting-edge agricultural technologies and methods has also increased productivity. Thanks to North America’s advanced infrastructure and logistics networks, wheat can be transported more efficiently from fields to processing plants and distribution routes. This robust infrastructure ensures a reliable supply chain and access to local and international markets, demonstrating North America’s dominance in the wheat industry. Strong domestic consumption of wheat-based baked goods, pasta and bread has also contributed to growth in the region.
In 2023, the market segment of open-pollinated varieties and hybrid derivatives will dominate, with the largest market share of 77% and revenue of 4.62 billion.
The breeding technology part is divided into hybrid varieties, open-pollinated varieties and hybrid-derived varieties. In 2023, the market segment of open-pollinated varieties and hybrid derivatives will dominate, with the largest market share of 77% and revenue of 4.62 billion.
In 2023, the spring wheat seed segment dominated the market with the largest market share of 64% and revenue of USD 3.84 billion.
The type segment is divided into spring wheat seeds and winter wheat seeds. In 2023, the spring wheat seed segment dominated the market with the largest market share of 64% and revenue of USD 3.84 billion.
In 2023, the farm segment will dominate the market with the largest share of 85% and revenue of 5.1 billion.
The end-user segment is divided into research institutes and farms. In 2023, the farm segment will dominate the market with the largest share of 85% and revenue of 5.1 billion.
market progress
Argentinian biotech company Bioceres will expand sales of its HB4 wheat seeds, which harness the power of genetically modified organisms (GMOs), to dozens of seed companies in an effort to increase future sales of drought-tolerant products. News of partnerships with more seed propagation companies that provide seeds to farmers but do not create new varieties themselves marks a step forward in the acceptance of Bioceres’ exclusive HB4 wheat.
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Market dynamics
Driver: The world’s population is growing rapidly.
Wheat and other food crops are in high demand due to population growth, which increases food production to meet nutritional needs. As a result of changes in dietary preferences brought about by economic expansion and rising per capita income, consumption of wheat products such as processed foods and baked goods has increased relative to other lower-quality goods consumed prior to rising wealth. Wheat’s nutritional content drives demand for animal feed, thereby fueling the growth of the livestock industry. The growing emphasis on renewable energy has led to the production of biomass fuels such as ethanol from wheat grains, which has increased the demand for wheat seeds. The demand for wheat seeds and cultivation has further increased due to demand for wheat in paper, energy, animal bedding, cosmetics, skin care and pharmaceutical industries. Therefore, population growth and other related factors will stimulate the demand for wheat seeds and support the expansion of the market throughout the forecast period.
Limiting factors: Wheat seed preservation is difficult.
To maintain the quality and integrity of wheat seeds, specific climatic factors are required, such as low moisture content and stable temperatures. Temperature changes accelerate the aging process of seeds, while high humidity promotes fungal growth and seed degradation. Infestation by pathogens and pests is another serious problem that requires sanitation protocols and pest management techniques. Natural aging mechanisms can cause stored wheat seeds to deteriorate over time and have lower germination rates. Post-harvest losses are caused by most farmers having little or no access to adequate storage infrastructure and resources. Insufficient storage facilities, therefore, hamper the expansion of the market and exacerbate the growing maintenance problems of wheat seeds.
Opportunities: Food security is a growing concern in light of climate change.
The market will expand due to increased research and development efforts to improve wheat’s resilience and mitigate the negative impacts of climate change. The scientific, agricultural and agribusiness communities are increasingly using traditional breeding and biotechnological methods to develop wheat varieties that are resistant to climate change. Likewise, precision agriculture tools, including digital mapping, data analytics and remote sensing, can help inform informed decisions. Thus, the growing concern for food security has led to more research and development to create crops that are resistant to climate change, which will drive the market expansion throughout the forecast period.
Challenge: Extreme weather events caused by the climate change crisis.
Drought, floods, heat, salinity, waterlogging and extreme weather events affect seed germination, root development and grain formation. Extreme weather events such as storms, hail and frost can cause physical damage to seeds and plants, reducing yields and quality. These environmental pressures will challenge the growth of the global wheat seed market.
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Some of the major players in the global wheat seeds market are:
adwanta seeds
agricultural plants
AGT
DuPont Pioneer
Limagrain Group
Cobos
Monsanto
northern seeds
Professional gains
mouse
Key segments covered by the market:
According to breeding technology
hybrid
Open-pollinated varieties and hybrid derivatives
by type
spring wheat seeds
winter wheat seeds
by end user
graduate School
farm
by region
North America (United States, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia Pacific (China, Japan, India, Rest of Asia Pacific)
South America (Brazil and other parts of South America)
Middle East and Africa (UAE, South Africa, Middle East and Rest of Africa)
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About the report:
The market is analyzed based on value (USD billion). All segments are analyzed on global, regional, and country basis. Each part of the study includes analysis of more than 30 countries. The report analyzes drivers, opportunities, restraints, and challenges to gain critical market insights. Research includes Porter’s Five Forces Model, Attraction Analysis, Product Analysis, Supply and Demand Analysis, Competitor Position Grid Analysis, Distribution and Marketing Channel Analysis.
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