The Americas seeds market as per Future Market Insights (FMI), is poised to reach a substantial valuation of US$ 14.06 billion by 2033, exhibiting a promising Compound Annual Growth Rate (CAGR) of 8%. FMI’s market analysis projects a current worth of US$ 6.51 billion in 2023, highlighting the sector’s robust growth trajectory. The market is primarily driven by diverse factors, including a surge in demand for genetically modified crops, heightened awareness of plant-based alternatives, and revolutionary technological innovations.
The market’s demand is fueled by a combination of factors, including the rising popularity of plant-based diets, concerns related to obesity, and an increasing need for staple crops like rice, wheat, and soybean. The adoption of GMO seeds, herbicide-tolerant varieties, and insecticide resistance in crop seeds further propels the market’s expansion.
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Technological advancements play a pivotal role in the market’s growth, with agricultural practices embracing sensors, drones, and robotics. The soybean segment, attributed to its high protein content, witnesses substantial cultivation due to the soaring demand for meat alternatives. Additionally, the market benefits from the adoption of herbicide-tolerant seeds, addressing weed control efficiently.
Investors can capitalize on this burgeoning market by recognizing the growing importance of plant-based diets, technological innovations, and the expanding soybean segment. The forecasted CAGR of 8% signifies a lucrative opportunity for long-term investments, particularly as the market is anticipated to reach US$ 14.06 billion by 2033.
Top Highlights from the FMI’s Analysis of the Americas Seeds Market:
- The GMO section is forecast to seize a massive market share in the projected period. Increasing demand for seed types that curb environmental impact, owing to growing environmental concerns, is propelling the segment growth.
- The increasing demand for conventional types of seeds in the region due to its long history of safe use is expected to bolster the conventional section of Americas seeds.
- The herbicide tolerance section, based on the trait, is expected to capture a sizable market share. This can be attributed to the ease provided by herbicide-tolerant seeds for efficient and effective use of herbicides.
- The insecticide segment is anticipated to display robust growth in the forecast period.
- Extensive cultivation of soybean is projected to yield significant segment growth and account for a huge market share during the forecast period.
- The wheat segment is projected to perceive a rapid CAGR over the forecast period. Growing population and increasing importance of wheat as a staple crop are a few factors underpinning the segment growth in the region.
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FMI Captures Key Developments by Market Players
- In July 2022, BASF, Corteva Agriscience, and MS Technologies entered an agreement to develop next-Gen Enlist E3 soybeans with the trait of nematode-resistant soybeans (NRS) for farmers in Canada and the United States.
- In June 2022, a novel variety of tropicalized lettuce was introduced by the name of Arunas RZ. This is projected to boost the market share of the company in the subsequent years.
- In May 2022, Syngenta Canada introduced a new Pelta seed pelleting technology for canola that helps in enhancing seed uniformity and size, enabling better singulation planter performance.
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Americas Seeds Market by Category
By Type, the Americas Seeds Industry is segmented as:
- GMO
- Conventional
By Trait, the Americas Seeds Industry is categorized as:
- Herbicide Tolerance
- Insecticide Resistance
- Others
By Crop Type, the Americas Seeds Market is bifurcated as:
- Rice
- Soybean
- Wheat
By Region, the Industry of Americas Seeds is segmented as:
- The United States
- Brazil
- Argentina
- Peru
- Colombia
- Paraguay
- Chile
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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