Field Crop Seeds Market Global Industry Analysis and Forecast Till 2024
January 16, 2020
Field crops are primarily used for agricultural purposes. These are cultivated on a commercial scale. In the U.S., field crops primarily include cotton, corn, wheat, and soybean. Most of these field crops are used for further processing in various end-use industries. For instance, corn production plays a vital role in several industries in the U.S., including ethanol processing, dairy, and poultry. Demand for field crops is anticipated to remain high in the U.S. in the next few years, due to rise in demand for agricultural produce coupled with the ever-increasing consumption level of the agricultural output.The field crop seeds industry in the U.S. is developed with noteworthy advancements in the research and development of seeds used for commercial cultivation. Additionally, research and developments activities undertaken in the industry have resulted in much improved field crop yield. Currently, most farmers purchase new seeds (instead of using seeds saved from the previous harvest) and small seed businesses are giving way to larger enterprises that integrate plant breeding, production, conditioning, and marketing functions.This has consolidated the market to a large extent. According to one of the estimates, the U.S. accounts for nearly a quarter of the global crop seed market. High growth in the field crop seeds industry in the U.S. is attributed to large number of mergers and acquisitions. Additionally, expenditure on the field crop seeds has been significantly increasing over the years. Increase in the expenditure on the seeds is largely attributed to the rise in the quantity of seeds purchased by the U.S. farmers through commercial sources. The rise in seed purchases is projected to increase, considering the growth in scientific improvements in plant breeding.This, in turn, has led to a better crop yield. Furthermore, private expenditure in the field crop seeds market in the U.S. has been increasing significantly over the past decade as compared to public investments. Rise in investment in research and development activities in the last few years has led to increase in the introduction of new varieties of crops.To obtain all-inclusive information on forecast analysis of Market, request a PDF brochure here.Key players operating in the field crop seeds market in the U.S. include Monsanto Company, Bayer CropScience Ltd., Syngenta AG, E. I. du Pont de Nemours and Company, and Land O’Lakes, Inc.