The global hybrid seeds market was valued at USD 23.6 Billion in 2020 and is anticipated to grow at USD 35.96 Billion till 2027 recording a CAGR of 6.2% during the forecast period 2021-2027. The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.
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Hybrid seeds greatly help in producing more yields as compared to the conventional seeds. Cross-pollination between two or more inbred plants, which engages transferring pollen from male to female, is the process of producing hybrid seeds. Hybrid seeds have the potent to improve the taste of both vegetables and fruits, improve disease resistance and new colors of flowers.
There are several factors that are anticipated to record revenue growth in the hybrid seeds market over the forecast period such as growing awareness about the benefit of hybrid plants amid farmers, storage methods, growing adoption of hybrid seeds in vegetables and fruit because of growing demand for vegetables and fruits and growing R&D activities. In addition, there are a few other market driving factors, which include development and modernization in agriculture practices, growing population pool, increase in government initiatives as well as subsidies, huge investments and growing preference towards organic diet. Growing count of health-conscious people is another market driving factor. The growing agriculture land suitable for all kinds of crop is another crucial factor increasing growing opportunities for key players of hybrid seeds market. On the other hand, high cost of seeds, difficulty in maintenance and unsupportable climatic conditions in few regions are the factors, which can hinder the hybrid seeds market growth.
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There are some major key players operating in hybrid seeds market, which include Syngenta AG (Switzerland), DuPont (U.S.), Biostadt India Ltd. (India), Monsanto (U.S), KWS SAAT SE (Germany), Mahyco (India), Dow AgroSciences LLC (U.S.), Advanta Limited (India), Longping Hi-tech (China), Takii & Co. Ltd. (Japan), Barenbrug Holding B.V (Netherlands), United Phosphorous Limited (India), and Land OLakes, Inc. (U.S.). Key players of hybrid seeds market follow some efficient strategies such as acquisitions, mergers, collaborations and new product launches to retain their position in the market and expand the product portfolio in the market.
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