Press Release
Press Release
The growing demand for food with the rapidly increasing population is propelling the demand for wheat seed production. In this regard, technologically advanced storage and germination technologies are expected to help increase the market growth in the coming years. Moreover, the rapid development of high-yield hybrid wheat seeds aimed at increasing the production of a nutritionally rich wheat crop is expected to support the growth of the market. Furthermore, the increased use of wheat seed as an animal feed has increased its demand in the animal husbandry and poultry sector, which is also expected to positively impact the market growth.
The growing focus of the leading players in the development of new plant breeding strategy to increase wheat yield potential is expected to catalyse the industry growth in the forecast period. For instance, in March 2021, US Wheat Associates highlighted BASF (OTCMKTS: BASFY) and Corteva Agriscience’s (NYSE: CTVA) wheat production strategies to develop industry-leading hybrid wheat products and soft red winter (SRW) and soft white (SW) winter wheat products for farmers in many countries, respectively. It is done by utlising advanced breeding technologies, which helps balance genetics with exceptional yield potential to produce superior quality wheat seeds. Corteva Agriscience utilises technologies such as doubled haploids to bring new high-performance varieties and NIR testing to conduct genomic predictions. It also utilises drones in the fields to keep an eye on the soil quality, plant health, and phenotypic traits of the crop.
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The major players in the global wheat seed market are UPL Limited, Agrovegetal SA, Corteva Agriscience, Syngenta AG, ProHarvest Seeds Inc, RAGT Seeds UK, and Northern Agri Brands LLC, 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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