Global Rice Seeds Market to Grow at a CAGR of 6.7% During 2024-2032, Driven by Various Governmental Initiatives for Farmers

The Asia Pacific region is predicted to hold a significant share in the overall market growth of rice seeds over the forecast period. This can be attributed to robust production of rice in countries like India, China, Japan, Vietnam, and Malaysia, among others, due to favourable climatic conditions, which is determined by damp weather conditions. In addition to this, several countries of the Asia Pacific region like India and China are primarily agrarian countries, and hence the production and consumption of rice in these countries is propelling the growth of the market. Further, China represents one of the biggest producers and exporters of the global rice production, which is another factor positively influencing the growth of the regional market. Moreover, various government incentives like subsidies, provision of advanced farming technologies, and ease of farming regulations in major countries of the Asia Pacific region are adding to the growth of the market.

In December 2021, a new project was decided to be implemented in the Jhapa, Morang, Sunasari, and Udayapur districts of Nepal. The project is aimed at improving the productivity of rice by means of dissemination of quality improved seeds and strengthening the implementation of the rice seed production, supply, and quality control system in Nepal. As rice is an important food of Nepali agriculture, the focus on its seed quality directly affects the taste and nutrition value.

In December 2021, BASF SE (ETR: BAS) announced its plan to launch Global Carbon Farming Program in 2022, enabling farmers to reduce their CO2 emissions. The program aims at combatting climate change as a result of incorrect farming practices and reducing carbon footprints by 30% by 2030 in rice, wheat, soy, canola, and corn productions.

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Market Analysis by Product, Grain Size, and Region:

• Based on its products, the rice seeds industry can be segmented into hybrid and open-pollinated varieties. 

• On the basis of grain size, the industry is divided into long, medium, and short.

• The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

• The market is being driven by the rising demand for rice as a staple food item in major countries and the growing global populations.

• The growth of the market can be associated with research activities aimed at developing rice seeds to boost profitability and production. 

• Developments in hybrid seed technology owing to advances in the field of molecular biology and biotechnology are pushing the growth of the market.

• Investments by leading market players to develop novel techniques boost automation in farming practices is augmenting the growth of the market.

Key Offerings of the Report:

• The EMR report gives an overview of the global rice seeds industry for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) markets for products, grain sizes, and major regions.

• The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global rice seeds market are SeedWorks International Pvt. Ltd., Savannah Seeds Private Limited, Bayer CropScience Limited, Nuziveedu Seeds Limited (NSL), and Pan Seeds Pvt. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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