Bio-seeds are genetically modified seeds produced by infusing desired genes into host with the help of vector system. Bio-seeds are produced using genetic engineering and are categorized under genetically modified systems. Bio seeds have various advantages over traditional seeds such as high yield, better nutrition, and low cost production.
Technological advancements and increasing government support for development of genetically modified seeds across the globe are major factors expected to drive growth of the global bio-seeds market over the forecast period.
The global bio-seeds market report has been segmented on the basis of product and region. On the basis of product, the market is segmented into soybeans, corn, sugar beets, canola, and other. Corn product segment is expected to account for highest CAGR in terms of revenue, owing to increasing popularity as a raw material for manufacturing of ethanol. This factor is expected to drive growth corn bio seeds segment over the forecast period. Soybean is expected to account for second-highest market share in terms of revenue. Sugar beets and canola are expected to project significant growth over the forecast period.
Based on the region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to account for highest share in terms of revenue over the forecast period, owing to technological advancements in agricultural industry, and high consumption of bio-seeds in the US.
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The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to introduction of agricultural methods in developed as well as in developing countries in the region over the forecast period. The market in Europe is expected to support growth of the target market, owing to increasing demand for bio-seeds from various countries in this region.
Key players operating in the global bio-seeds market include Monsanto Company, Syngenta AG, E. I. du Pont de Nemours and Company, Groupe Limagrain Holding SA, Bayer CropScience AG, Land O’Lakes, Inc., KWS Saat SE, Sakata Seed Corporation, TAKII & CO. LTD., and The Dow Chemical Company.