Published on : Nov 29, 2016
ALBANY, NY, Nov 29, 2016: The report estimates the hybrid seeds market to exhibit a little short of 15% CAGR between 2016 and 2020. It compiles exhaustive information, highlighting the various factors promoting the market’s growth and lists down the restrains that could hamper the market’s trajectory in the near future.
The agriculture sector contributes a significantly large portion of revenue generated by the economy in India. With almost half of the country’s workforce engaged in agriculture, introducing developments in the sector is of prime importance and considered necessary. Spurred by these factors, the demand for hybrid seeds is expected to increase at an exponential pace in India. In addition, the increasing demand for high-yielding varieties of crops will support the growth of hybrid seeds market in India.
The quality of seeds plays a major role in determining the overall agricultural productivity. As per experts, using good quality seeds can increase the yield by almost 45%. On the flip side, unavailability of proper resources can negatively affect the overall agricultural productivity, thus disturbing the demand and supply equilibrium. As the total arable land in India is massively declining, the country is in the need for technologies to ensure higher productivity to pace up with the increasing demand. The scenario has proven the most beneficial for the hybrid seeds market in India.
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In addition, the increasing use of hybrid seeds with advanced traits of generation will aid the expansion of the market in India during the course of the forecast period. According to the report, cultivation of seeds with traits such as abiotic stress tolerance, herbicide and disease resistance, insecticide resistance, and modified quality pollination control system will observe high demand in the forthcoming years. Compelled by the prevailing trends, vendors will focus on the development of seeds with the traits to minimize losses and enhance agricultural yield.
By product, the India hybrid seeds market can be classified into hybrid maize seeds, hybrid vegetable seeds, and hybrid cotton seeds. Of these, the hybrid seeds and cotton seeds held the largest share in the market in 2015 and is envisaged to continue holding their dominance through the forecast period. The demand from Haryana, Rajasthan, Punjab, Madhya Pradesh, Maharashtra, and Gujarat is expected to remain considerably high.
To study the competition prevailing in the market, the report also profiles some of the leading companies operating therein. Enterprises such as Mahyco, Rasi Seeds, Bayer CropScience, Nuziveedu Seeds, and Monsanto are identified as the key vendors operating in the market. Other companies profiled in the report are Ankur Seeds, Advanta, Namdhari Seeds, Ajeet Seeds, Rallis India, DuPont, Bioseed, Kaveri Seeds, and Syngenta.
The India hybrid seeds market is highly competitive comprising nearly 300 players. However, over 80% of the revenue generated by the market comes from MNCs. The vendor landscape includes players from both private and public sectors. The report studies in detail the various strategies adopted by these companies to attain sustainable growth and the impact of the same on the overall market.
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