Demand of seed in agriculture is increasing rapidly with the more development in this industry and everyone knows about the importance of seed in the agriculture sector. In addition, seeds are also sowing to produce the rest of the plants we eat. The significant development in the technology of the seed industry is turned up the sector of seed more enormously. According to the report analysis, ‘Market Research Reports For Seed’ states that the genetically modified crops are significantly used in the agriculture with the aim is to introduce a new trait to the plant which does not occur naturally in the species. Farmers have widely adopted GM technology and it is fastest adopted crop technology across the globe. Moreover, the adoption GM technology results in the reduction the usage of pesticide which is very much ecologically beneficially whereas; with the overuse of this technology the benefits may be reduced. Hence, the effective usage of GM technology leads to market growth more significantly.
The seed industry is developing with the more innovations and development in the technology, maintained with high quality through continuous advancements in seed research and for increasing the efficiency of the seed, government of the respective economy is doing so many projects and making relative policies which make the seed industry more attractive and profit making. Whereas development in the efficiency of seed is the development of quality of food as if a grace of seed is not cared of managed regularly with better environment of quality, it will lose its ability to sprout and lead in vacant fields. The GM technology reduce all the issues related to the quality of the seed and with this technology the seed will sprout with the effective quality and lead the higher profit in the developing countries than the developed countries. Moreover, the yield gains and pesticide reductions are larger for insect-resistance crops than for herbicide-tolerant crops. The GM food’s economic value to farmers is one of its major benefits, including in developing nations. According to the report analysis, ‘Seed Industry Research And Market Reports’ states that the more development in the technology of GM will lead the more sustainable growth in the agriculture, by employing fewer land, water, and nutrients resources. In a research it is observed that much of GM crop grown each year is used for livestock feed and increased demand for meat leads to increased demand for GM feed crops. With the wide applications of GM technology the market will grow more significantly in the forecasted period and increased in the potential of product choice and competition.
In the developed and developing countries the market of seed industry is expected to grow with the more development in the GM technology. In the Asia Pacific region, the wide usage of GM technology is leading the significant growth in the coming years and in the Europe and North America is dominating the huge share in the market of seed whereas North America seed industry dominated the global seed market, with a share of around 35%. Moreover, the Asia-Pacific region is expected to be the fastest growing market with double digit positive CAGR in the forecasted period. Monsanto, Bayer Crop Science, Dupont, GroupeLimagrain and others are the major key player of the global seed industry which make the market more competitive and welcoming the new investors who are supporting the market financially. Therefore, it is expected in the coming years the GM technology in the seed industry will grow significantly over the decades with the more innovations in the technology.
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Ankur Gupta, Head Marketing & Communications