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Global Wheat Seed Market to Grow at a CAGR of 4.7% During 2022-2027, Aided by the Heightened Technological Advancements

According to a new report by EMR titled, ‘Global Wheat Seed Market Report and Forecast 2022-2027’, the market witnessed a healthy growth during the historical period. The market for wheat seed is further expected to grow at a CAGR of 4.7% in the forecast period of 2022-2027.

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.

Market Breakup by Type and Region:

  • The market is divided, based on type, into hard red winter, soft red winter, hard white, soft white, hard red spring wheat seed, and durum wheat seed.
  • Region-wise, the global market for the wheat seed can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increased demand for wheat seeds fuelled by the growing food requirements of the rising global population has significantly contributed to the market expansion. 
  • The heightened demand in the animal feed sector globally is also aiding the industry growth.
  • The rising technological advancements and developments of wheat seed production are further propelling the market growth.
  • The availability of high yield seeds and improved storage facilities are also supporting the growth of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for wheat seed for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the types, and major regions of wheat seed.
  • The market report also analyses the trade data by covering the major importing and exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, and provides an assessment of the SWOT and Porter's Five Forces models.

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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