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Latin America Seed Market Size, Share, Growth, Analysis: By Type: Conventional, GMO, Hybrid; By Crop Type: Fruits and Vegetables, Oilseeds and Pulses, Cereals and Grains, Others; By Traits: Herbicide-Tolerant, Insecticide-Resistant, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Latin America Seed Market Outlook
The Latin America seed market size was valued at USD 6.40 billion in 2023. The market is further projected to grow at a CAGR of 5.3% between 2024 and 2032, reaching a value of USD 10.47 billion by 2032.
Key Takeaways
- The most grown crops in Latin America include sugar cane, maize, rice, wheat, and oil palm fruit. The region is the leading producer of sugar cane (54% of the world total) and maize (50%).
- Brazil is the largest agricultural and food exporter (USD 79.3 billion in 2017) in the region, followed by Argentina, Mexico, Chile, Ecuador, and Peru.
- The region's agricultural production has been growing, with Brazil being one of the agricultural growth leaders both in the region, with an average growth rate of 4.1% between 1991 and 2015.
- Average farm size has increased more than 20% in Argentina and Uruguay and almost 40% in Paraguay in less than two decades, which bodes well for the Latin America seed market development.
Soybean and maize are the only two Latin American seed sectors currently worth more than USD 1 billion, with Brazil forming a significant portion of the regional value of these crops. The market is expected to grow due to factors such as higher yield, new technologies, and government initiatives to provide loans at low-interest rates.
Oilseeds, particularly soybeans, dominate the South America row crops seed market due to high export demand from oil processing and food and beverage industries. The area under soybeans is increasing due to increased global demand, availability of arable land, and higher profit margins.
Key trends aiding the Latin America seed market growth including the adoption of genetically modified (GM) seeds, direct sales, agro-dealers and retailers, and e-commerce platforms. GM seeds are the fastest-growing segment in the market due to their enhanced productivity, reduced input costs, and export demand. Direct sales, where seed companies sell products directly to farmers, are also significant. Agro-dealers and retailers play a crucial role in distributing seeds to farmers, offering a wide range of choices and convenience. E-commerce platforms provide farmers with the ability to purchase seeds online, offering convenience, a wide range of products, and product details, reviews, and comparison tools.
Mexico, Brazil, Argentina, and Chile are significant players in the seed market, with Brazil being the largest contributor due to its large agricultural area and significant production of maize and soybeans, which are major exported crops. Argentina is also a significant player in the seed market in Latin America, producing cereal and oilseed crops like soybeans, maize, sunflower, and wheat. Mexico has a diverse agricultural landscape with a wide range of crops like maize, fruits, vegetables, and beans. Chile's seed market consists mainly of vegetable and fruit crops like wine grapes, along with staple crops.
Market Segmentation
Latin America Seed Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Conventional
- GMO
- Hybrid
Market Breakup by Crop Type
- Fruits and Vegetables
- Brassicas
- Cucurbits
- Roots and Bulbs
- Leafy Vegetables
- Solanaceae
- Others
- Oilseeds and Pulses
- Soyabean
- Canola/Rapeseeds
- Sunflower
- Others
- Cereals and Grains
- Corn
- Wheat
- Rice
- Others
- Others
Market Breakup by Traits
- Herbicide-Tolerant
- Insecticide-Resistant
- Others
Market Breakup by Country
- Brazil
- Mexico
- Argentina
- Others
Competitive Landscape
Market players are focusing on improving yield and productivity to cater to the growing demand for food due to the increasing population.
- BASF SE
- Bayer AG
- Corteva Inc.
- Syngenta Crop Protection AG
- KWS SAAT SE & Co. KGaA
- Bejo Zaden B.V.
- Rijk Zwaan Zaadteelt en Zaadhandel B.V.
- Groupe Limagrain Holding
- Sakata Seed Corporation
- TAKII & CO., LTD.
- PRODUSEM SA
- SEEDAR SA
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Crop Type |
|
| Breakup by Traits |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Seed Market Overview
8.1 Key Industry Highlights
8.2 Global Seed Historical Market (2018-2023)
8.3 Global Seed Market Forecast (2024-2032)
8.4 Global Seed Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Latin America Seed Market Overview
9.1 Key Industry Highlights
9.2 Latin America Seed Historical Market (2018-2023)
9.3 Latin America Seed Market Forecast (2024-2032)
10 Latin America Seed Market by Type
10.1 Conventional
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 GMO
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Hybrid
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Latin America Seed Market by Crop Type
11.1 Fruits and Vegetables
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.1.3 Breakup by Type
11.1.3.1 Brassicas
11.1.3.2 Cucurbits
11.1.3.3 Roots and Bulbs
11.1.3.4 Leafy Vegetables
11.1.3.5 Solanaceae
11.1.3.6 Others
11.2 Oilseeds and Pulses
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.2.3 Breakup by Type
11.2.3.1 Soyabean
11.2.3.2 Canola/Rapeseeds
11.2.3.3 Sunflower
11.2.3.4 Others
11.3 Cereals and Grains
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.3.3 Breakup by Type
11.3.3.1 Corn
11.3.3.2 Wheat
11.3.3.3 Rice
11.3.3.4 Others
11.4 Others
12 Latin America Seed Market by Traits
12.1 Herbicide-Tolerant
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Insecticide-Resistant
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Others
13 Latin America Seed Market by Country
13.1 Brazil
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Mexico
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Argentina
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 BASF SE
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Bayer AG
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Corteva Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Syngenta Crop Protection AG
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 KWS SAAT SE & Co. KGaA
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Bejo Zaden B.V.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Rijk Zwaan Zaadteelt en Zaadhandel B.V.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Groupe Limagrain Holding
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Sakata Seed Corporation
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 TAKII & CO., LTD.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 PRODUSEM SA
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 SEEDAR SA
16.2.12.1 Company Overview
16.2.12.2 Product Portfolio
16.2.12.3 Demographic Reach and Achievements
16.2.12.4 Certifications
16.2.13 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Seed Market: Key Industry Highlights, 2018 and 2032
2. Latin America Seed Market: Key Industry Highlights, 2018 and 2032
3. Latin America Seed Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Latin America Seed Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Latin America Seed Historical Market: Breakup by Crop Type (USD Billion), 2018-2023
6. Latin America Seed Market Forecast: Breakup by Crop Type (USD Billion), 2024-2032
7. Latin America Seed Historical Market: Breakup by Traits (USD Billion), 2018-2023
8. Latin America Seed Market Forecast: Breakup by Traits (USD Billion), 2024-2032
9. Latin America Seed Historical Market: Breakup by Country (USD Billion), 2018-2023
10. Latin America Seed Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Major Importing Countries by Volume
12. Major Exporting Countries by Volume
13. Major Importing Countries by Value
14. Major Exporting Countries by Value
15. Latin America Seed Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 6.40 billion.
The market is expected to grow at a CAGR of 5.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 10.47 billion by 2032.
The market is driven by factors such as the growing population, increasing consumption of animal fodder, and growing need for commodities such as vegetable oil.
Key trends aiding the market expansion include increasing demand for high-quality seeds, rising awareness about food security, the adoption of advanced agricultural technologies, and innovative production practices to prevent pest incidences and improve yield.
Countries considered in the market are Brazil, Mexico, and Argentina, among others.
Different types of crops in the market are fruits and vegetables (brassicas, cucurbits, roots and bulbs, leafy vegetables, solanaceae, among others), oilseeds and pulses (soyabean, canola/rapeseeds, sunflower, among others), and cereals and grains (corn, wheat, rice, among others), among others.
Based on traits, the market segmentations include herbicide-tolerant and insecticide-resistant, among others.
Key players in the market are BASF SE, Bayer AG, Corteva Inc., Syngenta Crop Protection AG, KWS SAAT SE & Co. KGaA, Bejo Zaden B.V., Rijk Zwaan Zaadteelt en Zaadhandel B.V., Groupe Limagrain Holding, Sakata Seed Corporation, TAKII & CO., LTD., PRODUSEM SA, and SEEDAR SA, among others.
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