The Sorghum Seed Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Sorghum Seed Global Market Report 2024, The sorghum seed market size has grown strongly in recent years. It will grow from $1.96 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to staple food consumption, drought tolerance, food and beverage industry demand, biofuel production, resilience to pest and disease, cultural and traditional uses.
The sorghum seed market size is expected to see strong growth in the next few years. It will grow to $2.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to climate change adaptation, nutritional awareness, alternative crop rotation, demand for gluten-free products, international trade opportunities. Major trends in the forecast period include hybrid sorghum varieties, genetically modified (GM) sorghum traits, organic sorghum seed production, high-value sorghum for specialty markets, precision agriculture technologies.
The rising awareness of a healthy lifestyle coupled with the growing trend of a healthy diet is contributing to the growth of the sorghum seed market. Consumer behavior towards healthy food consumption has shifted significantly in recent years as a result of increased awareness of health and changing lifestyles, as well as growing concerns about the benefits associated with health and wellness food. Sorghum is a nutrient-dense grain that is high in B vitamins, magnesium, potassium, phosphorus, iron, and zinc., among other vitamins and minerals. It also contains a high amount of fiber, antioxidants, and protein. For instance, according to a survey conducted by The Hindu in 2021, 70% of the participants stated that they would focus on improving overall health and immunity as well as lowering stress and anxiety by prioritizing dietary changes. Thus, the rising awareness of a healthy lifestyle coupled with the growing trend of a healthy diet will drive the growth of the sorghum seed market going forward.
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The sorghum seed market covered in this report is segmented –
1) Sorghum Seed Market By Product Type: Grain Sorghum, Sweet Sorghum, Forage Sorghum, Biomass Sorghum
2) Sorghum Seed Market By Application: Sorghum Planting, Sorghum Breeding
3) Sorghum Seed Market By End User: Animal Feed, Food Industry, Wine Making, Biofuel And Chemical Production, Other End Users
Top Major Players
Monsanto Company
UPL Limited
DuPont Pioneer
Nufarm Limited
Limagrain Group
Major companies operating in the sorghum seed market are focusing on developing advanced, non-transgenic solutions to enhance crop yields and resilience while addressing environmental concerns and consumer preferences. Advanced, non-transgenic solutions involve employing innovative techniques to enhance traits in organisms without introducing foreign genetic material. For instance, in March 2021, Corteva Agriscience, a US-based agrichemical company, launched the new Inzen trait, which will be exclusive to industry-leading Pioneer brand sorghum and allows for a postemergence application of Zest WDG herbicide to provide excellent control of yield-depleting annual grasses such as foxtail, barnyardgrass, and panicum.
The sorghum seed market report table of contents includes:
1. Executive Summary
2. Sorghum Seed Market Characteristics
3. Sorghum Seed Market Trends And Strategies
4. Sorghum Seed Market – Macro Economic Scenario
5. Global Sorghum Seed Market Size and Growth
…..
32. Global Sorghum Seed Market Competitive Benchmarking
33. Global Sorghum Seed Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Sorghum Seed Market
35. Sorghum Seed Market Future Outlook and Potential Analysis
36. Appendix
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