RiceSeeds Market: Market Outlook
Rice isthe seed of the grass species Oryza glaberrima or Oryza sativa. As a cerealgrain, it is the most broadly consumed staple food for a large part of theworld's human population, especially in Africa and Asia. Quality seed is veryimportant to increase production. It is necessary to maintain the varietalpurity of seed, and control the seed-borne disease for the production ofhigh-quality seed. The rice seeds are produced by using techniques such as atwo-line system and three-line rice seed-producing system. The rice seeds areavailable in the treated and untreated form where treated rice seeds are widelyused by the pharmaceutical industry. Rice seed-based medicines are expected tobe new edible drug therapies. Besides, rice is a good source of vitamin B, andalso an excellent source of minerals such as magnesium and manganese. Where,brown rice contains contain a high proportion of vitamins and oxidants whilewhite rice contains phosphorous, thiamine, selenium, folic acid, omega 6 fattyacids, and niacin.
RiceSeeds Market: Market Dynamics
Continuoustechnological advancements in the field of molecular biology, genomics,biotechnology have led to developments in hybrid rice breeding. This isexpected to fuel the growth of the globalrice seeds market. The farmers in the Asia Pacific widely use the hybridrice production system which led to increased output of the hybrid rice seedsin this region. The major rice seed producing companies are expanding theirbusiness in Asian countries. The strong support from the government inproviding subsidies for hybrid seed has encouraging farmers to adopt hybridbreeding technology in developing countries. Also, reducing prices of hybridrice seeds, to bridge the difference between open-pollinated varieties andhybrid seeds, enabling key players to invest in the developing markets.Countries such as India, China, Thailand, and Vietnam are dominating the AsiaPacific rice seeds market owing to the high production of both open-pollinatedvarieties and hybrid rice seeds.
GlobalRice Seeds Market: Market Participants
The marketparticipants in the global rice seeds market identified across the value chaininclude
BayerCropScience Limited, Ajeet Seeds Pvt. Ltd., Pan Seeds Pvt. Ltd., Kaveri Seeds,Mahindra Agri Solutions Pvt. Ltd., Nuziveedu Seeds Limited (NSL), SavannahSeeds Private Limited, Syngenta, Rallis India Limited, Biostadt India Limited.,DuPont Pioneer, Mahyco, and others. These manufacturers are looking for moreopportunities in the developing market such as the Asia Pacific and Africaregions. Also, the key players are focused on financing and making agreementswith farmers to increase their rice seed production.
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Opportunities for the Market Participants in the Global RiceSeeds Market
Currently,the global rice seeds market is dominated by open-pollinated rice varieties.However, the increasing adoption of hybrid rice seeds farming and decliningprices of hybrid rice seeds are expected to drive the growth of the global riceseeds market. The Asia Pacific holds the largest share in the global rice seedsmarket owing to high production and consumption of rice and rice seeds. NorthAmerica is expected to hold the second-largest share in the global rice seedsmarket. The increasing adoption of commercial hybrid seeds and open-pollinatedvarieties over farm-saved seed have contributed to the growth of the globalrice seeds market. Latin America and the Middle East and Africa regions areexpected to register a healthy growth rate in the forecast period of the globalrice seeds market.
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Impact of COVID-19 on the Rice Seeds Market
COVID-19is the biggest public health crisis of the 21 century so far. The policies andprograms to contain COVID-19 also have had massive secondary social andeconomic effects globally. The pandemic has affected millions of lives aroundthe globe. Initially, every country in the world has announced lockdown for amonth which widely affected the trade of the agriculture commodities. The riceseeds manufacturing companies are facing a shortage of raw material due todisrupted supply chain and transportation. The farmers also faced challengeswith harvesting the rice due to a lack of manpower during the lockdown period.Then after the government has allowed the trade of essential andagriculture-related goods, has normalized the growth of the global rice seedsmarket.
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