Market Leaders in the Global Hybrid Seeds Market
The Hybrid Seeds Market is estimated to be valued at USD 25.2 billion in 2021 and is expected to reach a value of USD 34.9 billion by 2026, growing at a CAGR of 6.7% during the forecast period. Factors such as increase in seed replacement rate, availability of hybrid seeds, and increasing demand for fruits and vegetables are the main drivers of the hybrid seeds market.
Key players in this market include BASF SE (Germany), Bayer AG (Germany), and Syngenta Group (Switzerland). Product innovation, expansions investments, mergers acquisitions, joint ventures, and partnerships were some of the core strengths of the leading players in the hybrid seeds market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios.
BASF SE (Germany) is one of the major players in the hybrid seeds market. The company provides seeds through its business segment, agricultural solutions. Some of the products offered by the company include vegetable seeds, cotton, and soybean seeds. The company has been one of the pioneers in transgenic and hybrid seeds industry, with offerings specific to particular geographies.
Bayer AG (Germany) is one of the leaders in the seeds business and caters to the hybrid seeds market through two wings of business, namely; crop protection and environmental science. The recent acquisition of Monsanto (US) in June 2018, has boosted Bayer’s agriculture business with innovative solutions in the crop protection and seed manufacturing industries. This acquisition has given a cutting edge to Bayer over other key competitors, by expanding its product and service portfolio, offering innovative technologies, and increasing its global presence.
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Syngenta Group (Switzerland) is one of the global biotechnology companies operating in the European region. It operates mainly under crop protection, lawn garden, and seed segments. The seed segment is bifurcated into corn and soybean, diverse field crops and vegetables. The company’s major strength lies in the high investment which it makes in the seeds business.
Some of the other players in the hybrid seeds industry include KWS SAAT SE (Germany), Land O’ Lakes (US), Sakata Seed Corporation (Japan), Groupe Limagrain (France), Corteva Agriscience (US), UPL Limited (India), DLF (Denmark), Longping Hi-tech (China), Rallis India Limited (India), Enza Zaden (The Netherlands), Takii Co. Ltd (Japan), and Barenbrug Holding B.V (Netherlands).
