An Extensive Study on Global Seed Market
Introduction The global s eed market is proj ected to witness a CAGR of 7.04 % during the forecast period to reach a total market size of US$ 108.059 b illion b y 2023, increasing from US$71.851 b illion in 2017. Growing global population coupled with expanding urbanization is putting pressure on natural resources. This is impacting the global food security concern which, in turn, is driving the demand for seeds, both conventional and hybrid. Rise in crop losses due to pest attacks and natural calamities is augmenting the demand for GM seeds which is further boosting the growth of the global seed market. Key market players in global seed market include Monsanto, now DuPont, Groupe Limagrain, Bayer AG, KWS SAAT SE, ChemChina, Land O’Lakes, Inc., Sakata Seed Corporation, Takii & Co., Ltd., and DLF. Growing Global Food Security Challenge The global food security challenge is the major driver of the global seed market. Fact