Rice Seeds Market will generate massive Revenue up to 2027

According to The Insight Partners’ research, the global Rice Seeds Market amassed US$ 5,506.8 million in 2018 and is anticipated to grow at a CAGR of 7.0% to account for US$ 10,036.0 million by 2027. High demand for rice seeds in Asia Pacific and rising adoption of hybrid seeds for high productivity are the crucial factors credited for this expansion.

Asia Pacific is characterized by large population, developing economies, growing per capita income, and huge food demand. All these factors make Asia Pacific a crucial region for the rice seed market. Rice is a staple food in most of the Asian countries including China, India, Japan, Vietnam, and other South & Southeast Asian countries. Rice plays a crucial role in achieving food security in developing countries of this region. Asia contribute a substantial share in the global rice area and production. In comparison to other regions of the world, the economic outlook of Asia Pacific is quite dynamic. The region is expected to grow at around 5–6% and accounts for two-thirds of the global economic growth. Hence, the impressive growth of Asia Pacific and presence of growing economies such as China, Nepal, India, and Bangladesh are expected to offer ample growth opportunities for the rice seed market players during the forecast period of 2019–2027.

With increasing world population, the demand for rice to fulfil the increasing food consumption is anticipated to rise in the coming years. However, due to the availability of limited water and land resources, the increase in rice production poses a challenge for farmers. The only solution to address this issue is to increase the productivity of rice seeds. In the past few years, the rice productivity is either stagnated or declined in some regions of the world, mainly due to marginal improvements in the potential of rice yield. The development of hybrid seeds offers a solution for countries to enhance rice productivity and to achieve self-sufficiency in rice production. On the other hand, the high cost of hybrid rice seeds will likely hinder global rice seeds market augmentation over the forecast timeframe.

As per grain size, the market is arrayed into long, medium, and short grain. Among these, the medium grain segment accounted for 51% of the market share in 2018. The segment was estimated at 2,811.2 million in 2018 and is predicted to gather US$ 5,168.6 million by 2027, expanding at 7.1% CAGR over the forecast timeframe.

Speaking of hybridization technique, the global rice seeds market is split into two-line and three-line systems. Among these, the two-line system segment captured 61.1% of the market share in 2018. The segment was evaluated at US$ 950.2 million in 2018 and is slated to be worth US$ 1,897.8 million by 2027, expanding at 8.1% CAGR over 2019–2027.

Moving on to treatment, the market is divided into treated and untreated. Among these, the untreated segment accounted for 55.8% of the market share in 2018. The segment is predicted to garner US$ 5,419.5 million by 2027 from US$ 3,072.6 million in 2018, augmenting at 6.6% CAGR during the forecast period.