Top 5 companies rule the global seed market of US$ 66.9 billion
According to the market researcher IMARC Group, the global seed market will growing with a CAGR of 7 % during 2011-18.IMARC Group | Brooklyn | Updated: 01-10-2019 15:30 IST | Created: 01-10-2019 15:30 IST
The seed is the most important component in agriculture and agroforestry. In this age of globalization, the global seed market is expanding fast both in monetary value and territory. According to recent research by IMARC Group, the global seed market in 2018 was amounting US$ 66.9 billion in 2018.
Though the seed is fundamental to agriculture economies but worldwide only three companies rule the global seed market. They are Monsanto Company (MON), Bayer AG (BAYRY), DuPont de Nemours, Inc. (DD), Syngenta AG (SYT), Dow Inc. (DOW), Sakata Seed Corp (1377.T) and KWS Satt Kgaa Inh O.N. (KWS.DE).
A seed is a small embryonic plant enclosed in an outer covering, known as the seed coat, which helps in protecting the embryo. It plays a vital role in the reproductive process of plants by performing various functions such as providing nourishment to the embryo, dispersing to new locations and dormancy in unfavourable weather conditions. A rapid increase in the global population and consequent rise in the demand for food have created a positive impact on the sales of the enhanced seed varieties worldwide. According to IMARC Group, the global seed market grew with a CAGR of 7% during 2011-2018.
(With inputs from IMARC Group)