Wheat Seed Market Size Worth $7.17 Billion By 2032 | CAGR: 4.71%

The global wheat seed market size is expected to reach USD 7.17 billion by 2032, according to a new study by Polaris Market Research. The report “Wheat Seed Market Share, Size, Trends, Industry Analysis Report, By Type (Hard Red Winter, Soft Red Winter, Hard White, Soft White, Hard Red Spring Wheat Seed, and Durum Wheat Seed); By Breeding Technology; By Application; By Region; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rising demand for food as a result of an expanding world population is what essentially drives the worldwide market. As per the UN, by 2050, 68 percent of the global population, up from the 55 percent from 2022, is projected to live in the cities. There is rising concern that as the global population gets more urbanized, precious cropland is being lost worldwide as a result of urbanization, which poses a serious threat to global food security. For instance, according to the National Academy of Science, by 2030, global urbanization would cause a 1.8–2.4% loss of cropland, resulting in a 3–4% decline in food production worldwide. The majority of this loss would occur in Asia and Africa, where a sizable fraction of the population still lives in rural areas. 

In addition, the world's most populous nation, China, has been rapidly urbanizing for four decades. If the current rate of growth in urban population growth is maintained, by 2050 the proportion of the total population living in urban areas will have increased by 80–90%. Cities will have to grow and occupy adjacent lands, including current and potential croplands, to make space for these many citizens.

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Accordingly, the market is being stimulated by ongoing technological developments in the creation of novel seed varieties that are more resistant to pests and diseases while also being more tolerant of drought and other environmental stressors. For instance, in September 2022, According to researchers at the ICAR-Indian Institute of Wheat and Barley Research (IIWBR), the types are resistant to climate change and can produce up to 75 quintals per hectare, allowing farmers to harvest 5 to 10 quintals more than the typical yield of 20 to 22 quintals per acre. 

These new seed varieties, known as DBW-316, DBW-55 (d), DBW-370, & DBW-372, have been certified by the Indian Council of Agricultural Research's (ICAR) identification committee for wheat & barley. This can be ascribed to the fast urbanization that has caused a major drop in the amount of arable land, necessitating a higher yield from a smaller amount of land. These are the major factors assisting the growth of the wheat seed market.

Wheat Seed Market Report Highlights

• Farm Planting segment is anticipated to grow at a highest CAGR during the forecast period due to the rise in demand for high-yield crops in growing nations.
• Open Pollinated Varieties & Hybrid Derivatives accounted for major global revenue share. For low-income farmers, open-pollinated cultivars are more cost-effective than hybrid seeds
• North America is expected to grow with a significant share over the projected period on account of shifting food choices and a rise in consumer health consciousness.
• The global players include Agrovegetal, Corteva Agriscience, Florimond Desprez, Hefei Fengle Seed, Kaveri Seeds, Northern Agri Brands, ProHarvest Seeds, RAGT Seed, and Seed Co.

Polaris Market Research has segmented the Wheat Seed market report based on type, breeding technology, application, and region:

Wheat Seed, Breeding Technology Outlook (Revenue - USD Billion, 2019 - 2032)

• Open Pollinated Varieties and Hybrid Derivatives
• Hybrids

Wheat Seed, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Farm Planting
• Personal Planting

Wheat Seed, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Hard Red Winter
• Soft Red Winter
• Hard White
• Soft White
• Hard Red Spring Wheat Seed
• Durum Wheat Seed

Wheat Seed, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Wheat Seed Market Report Scope