Hybrid Rice Seeds Market Size to Hit USD 5.43 Billion by 2027; Rising Concerns Regarding Food Security to Fuel the Market, Says Fortune Business Insights™
The global hybrid rice seeds market size is projected to reach USD 5.43 billion by 2027 owing to the rising concerns regarding food security worldwide, states Fortune Business Insights™ in its report, titled “Hybrid Rice Seeds Market, 2020-2027”. The report further states that the global market value was USD 2.06 billion in 2019 and is expected to register a CAGR of 13.32% from 2020 to 2027.
Bayer AG to Introduce Flood-resistant Hybrid Rice Variety to the
Indian Market
In December 2019, Bayer AG announced that the company is planning
to introduce a flood-resistant hybrid rice variety to the Indian market. The
variety has already been launched by the company in Bangladesh and is awaiting
regulatory approvals in India. The launch of this innovative product is
predicted to be highly successful in India, which is an agriculture-driven
nation. In addition, this will help save the huge losses the growers suffer
every year because of the floods. For instance, according to the Ministry of
Water Resources, between 1953 and 2017, floods have been responsible for
damaging INR 1,679 crore worth of crops every year.
Fear of Scarcity to Stem the High Growth of Hybrid Rice Seeds
The global consumption of rice is increasing steadily. According
to the United Nations Food and Agriculture Organization (FAO), the total rice
production worldwide reached nearly 755 million metric tonnes in 2018. Rising
concerns regarding food security owing to the rapidly increasing demand
triggered by the stretching global population is estimated to drive the global
hybrid rice seeds market growth. The ability of these hybrid seeds to offer
comparatively higher yield is anticipated to further strengthen their demand.
However, the high cost associated with the development is predicted to limit
growth.
3-line Hybrid System Segment Leading by Example
Based on the type, the market is segmented into 3-line breeding
systems and 2-line breeding systems. The 3-line hybrid system is projected to
lead the global market during the forecast period. The segment held the largest
market share in 2019. The ability to increase vigor, resistance to pests, and
high-quality are the key factors propelling the segment growth. Based on the
size, the market has been divided into long grains, medium grains, and short
grains. The medium-sized rice grain seeds are estimated to secure the major
hybrid rice seeds market share. The segment growth is attributable to the
worldwide popularity of the seeds due to their moist, tender, and slightly
chewy texture. The segment held a total market share of 66.15% in the Asia
Pacific market in 2019.
High Production Rate from Major Countries to Crown Asia Pacific as
Leading Region
- Asia Pacific led
the global market in 2019 with a market value of USD 1.84 billion. The
high production of hybrid rice seeds in countries including China, India,
Vietnam, and Thailand is estimated to propel the demand in the region.
- The market in
the Middle East & Africa is projected to showcase robust growth during
the forecast period. The primary factor expected to drive the demand in
the region is the introduction of the latest technologies for the
development and processing of hybrid rice seeds.
Pioneers Seeking Innovation to Enlarge Production Capacity
Key players operating in the global market are focusing on
acquiring companies with cutting-edge technology in order to upgrade their
operations. This will help them better analyze the yield and enhance the
production capacity. For instance, in January 2019, the International Rice
Research Institute (IRRI) teamed up with Computomics GmbH, a Germany-based
biotechnology company for utilizing its latest bioinformatics tools to speed up
the analysis of rice cultivation and breeding.
Key Industry Development:
In June 2018, Bayer AG announced to
acquire The Monsanto Company. This will aid the company to diversify and
commercialize hybrid rice seeds in India. Its aim is to become the world’s
biggest seed and agro-chemical company.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/hybrid-rice-seeds-market-104926
The Global Rice Milk Market is projected to grow at a CAGR of 7.8% from USD 136.8 million in 2019 to USD 251.3 million in 2027. Increasing consumption of the alternatives to milk and dairy-based products can be attributed to a number of reasons
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