The global rice seeds market accounted for US$. 5,506.8 Mn in 2018 and is expected to grow at a CAGR of 7.0% during the forecast period 2019 – 2027, to account to US$ 10,036.0 Mn by 2027. Rice is a staple food in many major countries, especially in the Asia Pacific region. According to the Food and Agriculture Organization (FAO) of the United Nations, the global paddy production has increased since 2016-2017 and it is anticipated to see a steady growth in the coming years owing to the growing population in developing countries of regions such as Asia Pacific, Middle East & Africa, and South America. China, India, Bangladesh, Sri Lanka, Vietnam, Indonesia, Myanmar, and Nepal are some of the major contributors to paddy production in the Asia Pacific region. Despite, uneven rain distribution and political instability in some African countries, the overall paddy production outlook in Africa looks quite promising in the coming few years. With the increase in demand and consumption of rice, the rice seeds market is expected to rise all over the globe.
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Based on the type, the rice seeds market has been segmented into open pollinated variety and hybrid. In 2018, the food segment dominated the rice seeds market market. 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. OPV rice seeds show more genetically diverse characteristics as they adapt slowly based on the growing conditions and climate of an area. The increasing demand for naturally grown rice is anticipated to drive the market for OPV and further would to growth of the rice seeds market.
Strong demand and positive growth outlook in the Asia Pacific is driving the growth of the rice seeds market. Asia Pacific region is characterized by large population, developing economies, growing per capita income, and huge food demand. All these factors make Asia Pacific a crucial geography in the global rice seed market. Rice is a staple food in most of the Asian countries including China, India, Japan, Vietnam and other South & South East Asian countries. Rice plays a crucial role in achieving food security in developing countries of this region. Asia contribute a substantial share in the global rice area and production. Further, the impressive growth of the Asia Pacific region and presence of growing economies such as China, Nepal, India, Bangladesh, and others are altogether expected to offer ample growth opportunities for the rice seed market players.
Some of the players present in global rice seeds market are BASF SE, Bayer AG, E. I. du Pont de Nemours and Company, Guard Rice Mills, Kaveri Seed Company Ltd, Maharastra Hybrid Seeds Company Private Limited (Mahyco), Nuziveedu Seeds Ltd. (NSL), Rallis India Limited, Rasi Seeds (P) Ltd., and SL Agritech Corporation among others. These players are influencing the growth of the rice seeds market.
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The overall global rice seeds market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the rice seeds market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the rice seeds market.
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• The key findings and recommendations highlight crucial progressive industry trends in the global rice seed market, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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