According to a recent report by Future Market Insights, market research and competitive intelligence provider, sales of hybrid rice seeds are estimated to reach a value of USD 5.6 Bn by 2032, surging at 8.4% CAGR through the decade.
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Rice is a staple of most Asian countries, and people in Latin America and Africa are now becoming a staple in these countries as they now rely on rice as their daily source of protein and energy. Increased global demand for rice is expected to drive the global hybrid rice seed market.
In recent years, hybrid rice seed technology has also been adopted in other neighboring countries. However, the introduction of hybrid rice seeds may show moderate to slow growth in the near future.
Tailor-made hybrid rice seeds have the ability to withstand bad weather and other stresses. The seeds of such hybrid rice show better salt tolerance, drought resistance, flood resistance, and low-temperature resistance. Rice farmers in Indian states such as Uttar Pradesh, Bihar, Maharashtra, and Nepal grow rice in rainwater lowlands with little irrigation or drought stress.
Key Takeaways from Market Study
- Artificial intelligence is now aiding hybrid rice seed technology.
- China is the world’s largest hybrid rice-producing country, with around half of the rice cultivation in the country do with hybrid rice seeds.
- Super Rice Breeding Program was introduced by the Government of China in 1996, with the target of increasing the yield of hybrid rice seeds for the increasing population.
- The Middle East & Africa is prophesied to acquire the second-largest market value share of the hybrid rice seeds market.
- The increased consumption of rice has become an ongoing trend in Saudi Arabia and the African countries.
“The hybrid rice seeds market is being driven by their taste, aroma, and health benefits. Rising awareness about the product along with increased use in the F&B industry are key factors for market expansion,” says a lead analyst at Future Market Insights.
Who is Winning?
Many CEOs re-checked their company’s portfolios and re-figured their strategy in 2020 and 2021 due to the global upheaval generated by COVID-19. Companies have worked on strategies such as marketing and packaging, adopted labels trends, and taken various steps to promote the product in different markets along with reaching new geographies.
Key players in the hybrid rice seed market are focused on diversifying and expanding their business by implementing various marketing strategies such as collaboration, strategic acquisitions, and business partnerships. In addition, by bringing new products to market, we can build a large customer base and provide great opportunities in the future.
For example, the assets of Ganga Kaveri Seeds are Ricetec Inc. Acquired by, diversified product offerings and attracted more customer groups.
Some of the leading companies offering hybrid rice seeds are Pioneer, Bayer Cropscience, Syngenta AG, Advanta Limited, BioSeeds Research India Pvt. Ltd., Biostadt India Limited, Krishidhan Seeds Pvt. Ltd., Nuziveedu Seeds Ltd., Rasi Seeds (P) td., RiceTec Inc., Ankur Seeds Pvt. Ltd., Nath Bio-Genes (I) Ltd., SL Agritech Corporation, Nirmal Seeds Pvt. Ltd., National Seeds Corporation Limited, Maharashtra Hybrid Seeds Company Pvt. Ltd., Siri Seeds Pvt. Ltd., Super Seeds (P) Ltd., Krishak Bharati Cooperative Ltd.
Browse Full Report at : https://www.futuremarketinsights.com/reports/hybrid-rice-seeds-market
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the hybrid rice seeds presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the Hybrid Rice Seeds Market by Grain Size (Long Grains, Medium-sized Grains, and Short Grains), Duration (Up to 110 days, 111 to 140 days, and 140+ days ) across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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