Growth Strategies Adopted by Major Players in Seed Market
(I-BusinessNews.Com, December 16, 2019 ) The seed market size is estimated to be valued at USD 55.4 billion in 2019 and is projected to be worth USD 86.0 billion by 2025, recording a CAGR of 7.6% during the forecast period. The growing demand in the food processing industry, biodiesel sector, feed processing industry is steering the growth of the market for seeds. Some of the major driving factors of the seeds market include the rising rate of seed replacement and an increase in demand for protein meals.
Key players in this market include BASF (Germany), Bayer AG (Germany), and Syngenta AG (Switzerland). Product innovation, expansions & investments, mergers & acquisitions, joint ventures, and partnerships were some of the core strengths of the leading players in the 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. Some of the other players in the seeds industry include KWS SAAT SE (Germany), Land O’ Lakes (US), Sakata Seed Corporation (Japan), Groupe Limagrain (France), Corteva Agriscience (US), United Phosphorous 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).
BASF (Germany) is one of the major players in the 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 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.
Syngenta AG (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.
With the growing case of pest infestations and pests gaining resistance against single traits, companies are focusing on the research and development of seeds which showcase multiple traits such as herbicide tolerance, drought-resistance, insect-resistance, and stress-tolerance among others.
Some of the major players in the seed market such as BASF (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), KWS SAAT SE (Germany), Land O’ Lakes (US), and Sakata Seed Corporation (Japan) are focusing on strategies such as new product launches, collaborations, and acquisitions to expand their global footprint in the seeds industry.
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