Increase in seed replacement rate and improved varieties of hybrid seeds for rice are likely to boost the growth of the rice seeds market. However, government regulation on genetic modifications is likely to hamper the profit boundaries.
According to latest report of ResearchAndMarkets.com ,the Global Rice Seeds Market accounted for $5.07 billion in 2018 and is expected to reach $10.56 billion by 2027 growing at a CAGR of 8.5%.
As a cereal grain, rice is the most widely consumed staple food in major parts of the world. Major cultivated species of rice are the grass species Oryza sativa (Asian rice) and Oryza glaberrima (African rice). In terms of production, rice is the third highly produced crop after sugarcane and maize.
Cureent seed scenario
Currently 30-40% of the total seed demand in the region is being met by the organized seed production, while the rest is met by farm-saved seed. South America and Africa are the other two regions involved in the rice seed trade. Farmers in these regions need to be motivated to use quality seeds obtained from the organized seed production, instead of farm-saved seeds.
Based on grain size, the long grains segment is estimated to have a lucrative growth due to changing consumer demand and limited application of short grain rice in the food industry. The production of long rice has been growing across the globe, particularly in the US and Asian countries.
By geography, Asia Pacific is likely to have a huge demand due to the high adoption of commercial open-pollinated varieties and hybrid rice seeds over farm-saved seeds to increase rice yield in countries such as China, India, and Thailand.
Some of the key players in the Rice Seeds market include Advanced Chemical Industries, Advanta Seeds, Bayer CropScience SE, China National Seed group, Dow-DuPont Inc., Hefei Fengle Seed Co. Ltd, Kaveri Seeds, Longping High-Tech, Mahyco Seeds, Monsanto, Nuziveedu Seeds, RiceTec Inc., SL Agritech, and Syngenta AG.
