IMARC Group, a leading market research company, has recently released a report titled “Rice Seed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global rice seed market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the rice seed industry?
The global rice seed market size reached US$ 6.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.
what is rice seed?
A rice seed refers to a whole cereal grain with an outer hull and a single rice kernel. It is generally available in different variants, such as arborio, basmati, brown, white, jasmine, etc. Among them, the open-pollinated variety (OPV) refers to the seeds produced via the natural pollination of the parent rice plant. In contrast to this, hybrid seeds include purebred sterile seeds of rice fertilized with pollen from a different rice variety. Rice seeds are also available in transgenic and non-transgenic variants, which are genetically modified to improve the functional properties of the crop.
What are the growth prospects and trends in the rice seed industry?
The elevating consumption of rice as a staple food crop across the globe is among the key factors catalyzing the rice seed market. Moreover, the rising adoption of organic rice-based farming practices is augmenting the need for OPV seeds to meet the escalating food requirements of consumers, thereby propelling product demand. Besides this, the increasing adoption of hybrid rice seeds is acting as another growth-inducing factor.
Furthermore, various technological advancements, such as the utilization of genomics and microbiology to produce seeds that have inherited resistance to bacterial blight pathogens, are fueling market growth. Apart from this, the growing utilization of silico mapping and arraying technologies for producing desired seed characteristics are anticipated to drive the rice seed market over the forecasted period.
Rice Seed Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global rice seed market has been studied in the report with detailed profiles of the key players operating in the market.
Key Companies in the Market:
* BASF SE
* Bayer AG
* Corteva Inc.
* Mahyco Private Limited
* Nuziveedu Seeds Limited (NSL Group of Companies Pvt Ltd.)
* Rallis India Limited (Tata Chemicals Limited)
* Rasi Seeds (P) Ltd.
* Savannah Seeds Private Limited (RiceTec AG)
* SL Agritech Corporation
* Syngenta Group (China National Chemical Corporation)
* UPL Limited
Key Market Segmentation:
The report has segmented the global rice seed market on the basis of type, grain size, hybridization technique, treatment, and region.
Breakup by Type:
* Open Pollinated
Breakup by Grain Size:
Breakup by Hybridization Technique:
* Two-Line System
* Three-Line System
Breakup by Treatment:
*- North America: (United States, Canada)
* Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
* Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
* Latin America: (Brazil, Mexico, Others)
* Middle East and Africa
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