The rice seeds market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth of the market in this region is mainly attributed to the by high population density, which is constantly growing, especially in countries such as India and China. In addition to this, around one fourth of the population residing in Asian countries falls in the poor category. These countries are expected to drive the rice consumption in the Asia Pacific countries. However, countries such as Japan and South Korea, where income is quite high, the per capita rice consumption has started declining. The constantly increasing population and shortage of cultivation area are two of the major issues that need to be addressed in the global rice seeds market. There is a strong need to increase productivity of rice cultivation to meet the growing need across the Asia Pacific region.
With increasing world population, the demand for rice to fulfill the increasing food consumption is anticipated to rise in the coming years. However, due to the availability of limited water and land resources, the increase in rice production poses a challenge for farmers. The only solution to address this issue is to increase the productivity of rice seeds. In the past few years, the rice productivity is either stagnated or declined in some regions of the world, mainly due to marginal improvements in the potential of rice yield. The development of hybrid seeds offer a solution for countries to enhance rice productivity and to achieve self-sufficiency in rice production. The increasing technological advancements in the field of molecular biology, biotechnology, and genomics have led to substantial improvements in hybrid rice breeding. In addition to this, the ongoing research and development investments and rising trend of public-private partnership (PPP) in the field of hybrid rice seed production have further led to increased adoption hybrid seeds especially among the commercial farmers. All these factors are anticipated to drive the demand for hybrid seeds during the forecast period.
Based on type, the rice seeds market is bifurcated into open pollinated variety and hybrid. Open Pollinated Variety (OPV) of rice seeds are a result of natural pollination of parent plant. The pollination methods in this category include self-pollination and pollination by insects, birds, and other natural means. Unlike hybrid seeds, these seeds produce plants that are identical to the parent plants and known as standard varieties in some cases. The choice of OPV depends on the requirements of a grower. OPVs, on multiplication retain the same characteristics, if maintained and produced efficiently. OPV rice seeds show more genetically diverse characteristics as they adapt slowly based on the growing conditions and climate of an area. Commercial growers prefer hybrid seeds over OPV for high yield and certain desired characteristics. While hybrid seeds offer some benefits over OPV, OPVs help in conserving the genetic diversity of plants. The increasing demand for naturally grown rice and other food products globally is anticipated to drive the market for OPV in the coming years.
Based on hybridization technique, the rice seeds market is segmented into two-line system and three line system. The two line system segment accounted for the largest market share in 2018. Some of the advantages of two line hybrids include no requirement of maintainer lines, broad parental choice for developing heterotic hybrids, and no negative effects from the sterile cytoplasm. The overall two-line seed production does not differ much from three line hybrids. One of the important considerations in two line hybrid seed production is the determination of suitable location or season. The advantages offered by two-line system are anticipated to drive the demand of two line hybrids during the forecast period.
A few players operating in the rice seeds market are BASF SE, Bayer AG, DuPont de Nemours, Inc., Guard Rice Mills, Kaveri Seeds, Mahyco, Nuziveedu Seeds Limited, Rallis India Limited, Rasi Seeds (P) Ltd., and SL-Agritech among many others. The key companies implement the mergers and acquisitions, and research and development strategies to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.
The regional trends and factors influencing the Rice Seeds Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Rice Seeds Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 5.51 Billion |
| Market Size by 2027 | US$ 10.04 Billion |
| Global CAGR (2018 - 2027) | 7.0% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Rice Seeds Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Rice Seeds Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies