Seeds are the primary basis for human sustenance. They are the repository of the genetic potential of crop species and their varieties resulting from the continuous improvement and selection over time. The global seed market is broken into two major sectors: Commercial seeds sector and Non-commercial seeds sector. Commercial seeds are the seeds sown for production of an intended crop or used as animal feed or industrial raw material. Based on type, commercial seeds can be classified as conventional seeds and genetically modified (GM) seeds, fastest-growing area within the commercial seed sector. Growing population coupled with reduction in arable land is expected to boost the demand for GM seeds which are superior to conventional seeds.
The report provides a comprehensive study of global commercial seed market and also the regional markets. The competition in the global seeds market is intense among large players like Monsanto, Syngenta, DuPont and Bayer CropScience. All these companies have been profiled in the present report highlighting their key financials and business strategies for growth.
The key factors driving the growth of the GM/biotech market are growing demand of biofuels, rising global population, rising adoption of biotech crops, rising health and wellness awareness and declining arable land. Some of the noteworthy trends and developments of this industry are advancement of new technology and evolving new varieties of crops. However, the expansion of market is hindered by genetically modified seeds threatens food supply and high investment on research.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the market. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.