Rice Seeds Market Size, Trends and Growth Analysis by 2027

The global rice seeds market was valued at approximately US$ 5,506.8 million in 2018 and is projected to expand at a compound annual growth rate (CAGR) of 7.0% from 2019 to 2027, reaching an estimated US$ 10,036.0 million by the end of the forecast period.

Rice serves as a fundamental food source in numerous countries, particularly within the Asia Pacific region. The Food and Agriculture Organization (FAO) of the United Nations reports that global paddy production has been on the rise since the 2016-2017 period, with expectations for continued growth in the years ahead. This increase is largely driven by the burgeoning populations in developing nations across Asia Pacific, the Middle East & Africa, and South America. Key contributors to paddy production in the Asia Pacific include China, India, Bangladesh, Sri Lanka, Vietnam, Indonesia, Myanmar, and Nepal. Despite challenges such as inconsistent rainfall and political unrest in certain African nations, the overall outlook for paddy production in Africa appears optimistic for the near future. As demand and consumption of rice escalate, the rice seeds market is anticipated to experience significant growth worldwide.

The rice seeds market is categorized based on seed type into open pollinated varieties (OPV) and hybrid seeds. In 2018, the food segment was the leading sector within the rice seeds market. OPV rice seeds are produced through the natural pollination of parent plants, utilizing methods such as self-pollination and pollination facilitated by insects, birds, and other natural agents. Unlike hybrid seeds, OPV seeds yield plants that are genetically identical to their parent plants, often referred to as standard varieties. OPV rice seeds exhibit greater genetic diversity, allowing them to adapt gradually to varying growing conditions and climates. The rising preference for naturally cultivated rice is expected to bolster the market for OPV, thereby contributing to the overall growth of the rice seeds sector.

The robust demand and favorable growth prospects in the Asia Pacific region are propelling the rice seeds market forward. This region is characterized by a large population, developing economies, increasing per capita income, and substantial food demand. These factors position Asia Pacific as a vital area in the global rice seed market. Rice is a primary food source in many Asian nations, including China, India, Japan, Vietnam, and various South and Southeast Asian countries. It plays a pivotal role in ensuring food security in the developing countries of this region. Asia accounts for a significant portion of the global rice cultivation area and production. Furthermore, the remarkable growth of the Asia Pacific region, along with the presence of emerging economies such as China, Nepal, India, and Bangladesh, is expected to create numerous opportunities for stakeholders in the rice seed market.

Several key players are active in the global rice seeds market, including BASF SE, Bayer AG, E. I. du Pont de Nemours and Company, Guard Rice Mills, Kaveri Seed Company Ltd, Maharastra Hybrid Seeds Company Private Limited (Mahyco), Nuziveedu Seeds Ltd. (NSL), Rallis India Limited, Rasi Seeds (P) Ltd., and SL Agritech Corporation, among others. These companies are significantly impacting the growth trajectory of the rice seeds market.

The overall size of the global rice seeds market has been determined through a combination of primary and secondary research methodologies. The research process commences with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative insights related to the rice seeds market. Additionally, numerous primary interviews are conducted with industry participants and experts to validate the data and analysis. Participants typically involved in this process include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the rice seeds market.