In 2019, North America was the largest geographical segment of the market studied and accounted for a share of around 35. 03% of the overall market. - The global wheat consumption has increased over the past ten years from 2008.
New York, March 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wheat Seed Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05877791/?utm_source=GNW
According to USDA the wheat consumption by humans has increased by 90 million metric tons and wheat usage for domestic feeds has increased by 16 million metric tons.
- According to FAO and AIMS, per capita consumption of wheat in 2018 was 66.8 kilograms per year. EU, China, India, Russia, and the United States are the major wheat -producing countries.
Key Market Trends
North America is the largest market in revenue
In 2019, North America is the largest market holding 35.03% of the total market share and is projected to remain the largest market during the forecast period. Asia-Pacific and Europe hold the second and third position respectively. According to USDA, global wheat trade has to increase in order to meet the global demand for cereals and grains including wheat in the upcoming years. The decreasing export supply from Russia, Europe, and drought affecting the Australian wheat export quantity will lead to an increase in North America’s wheat export. In 2017, the Taiwan Flour Millers Association (TFMA) has signed an agreement with U.S Wheat Associates to import 1.8 million metric tons of wheat in 2018 and 2019.
Asia-Pacific is fastest growing market
Asia-Pacific is projected to be the fastest growing market for wheat seeds market registering highest CAGR for the forecast period. Asia is the topmost producer, importer and consumer of wheat globally almost accounting for third of global trade. According to the United States Agriculture Department (USDA), China is the major producer and consumer of wheat. The country has increased its area under cultivation of wheat due to the farmers planting more wheat crop. Also the consumption of wheat by Asia’s growing middle-class, which is primarily a rice-eating population has seen an upward trend. The change in their diets has led to the increasing demand of wheat providing an opportunity to the major wheat exporters including Australia and the United States. This is expected to provide a fillip to the market for quality wheat seed in the region.
The wheat seed market is fragmented with a plethora of market players holding significant market shares in localized geographies. Wheat, being a self-pollinating crop, has a significant number of farmers, relying on farm-saved seeds also. Certified Seeds commercialized by research institutions and grown by local seed producers also are a significant part of the market. The major players globally, in the Wheat Seed Market include Groupe Limagrain, Corteva Agri Science (Pioneer Seeds), Syngenta International AG (AgriPro Seeds), AgroVegetal S.A., and ProHarvest Seeds, Inc. among others.
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