The Mexico Seed Market size is estimated at USD 1.75 billion in 2024, and is expected to reach USD 2.35 billion by 2030, growing at a CAGR of 5.04% during the forecast period (2024-2030).
Key Highlights
- Grains & Cereals is the Largest Crop Family: In Mexico, corn is the major grain crop and the majority of the area is under transgenic hybrids. And, wheat is the staple food crop with the adoption of improved cultivars.
- Hybrids is the Largest Breeding Technology: It is due to the higher adoption of transgenic hybrids in corn, cotton, alfalfa, and soybean and the availability of high-yielding non-transgenic hybrids in other crops.
- Cucurbits is the Fastest-growing Crop Family: Mexico is one of the major producers of cucumber and gherkins, and pumpkin and Squash. Cucurbits are a healthy food choice with high water content and low-calorie count.
- Hybrids is the Fastest-growing Breeding Technology: Due to the inherent characteristics such as high vigor, resistance to biotic and abiotic stresses, high yielding and uniform maturity, the hybrid segment is growing fastest.
Mexico Seed Market Trends
Hybrids is the largest Breeding Technology
- Mexico has been the largest market for hybrid seeds since the early 2000s and has been consistently increasing the usage of hybrids. Among hybrids, until 2020, transgenic and non-transgenic are equally used for cultivation.
- Transgenic hybrids have been banned in Mexico since December 2020, and the gradual phasing out of GM crops by 2024 is being done in the country. Especially GM Corn, which is mostly used in the cultivation of corn, will be replaced by sustainable and appropriate alternatives by 2024.
- The herbicide-tolerant cotton plants are tolerant to herbicides such as glyphosate, ammonium glufosinate, and dicamba, which can be used to control weeds. These factors will drive the demand for herbicide-tolerant cotton seeds in Mexico.
- The transgenic insect resistance cotton is widely accepted by cotton producers in Mexico and around the globe, which has proven to be efficient for the control of major lepidopteran insect pests. Therefore, due to the increasing emergence of pests, the demand for transgenic cotton is increasing in the country.
- In Mexico, wheat is the major crop under open-pollinated varieties. Out of the total area under commercial seeds, 94% of the area is under open-pollinated varieties. In the wheat crop, hybrids are not yet popular due to difficulties in the development of hybrids.
- Mexico is not self-sufficient in cotton production. Domestic cotton production in the country accounted for only 50-75% of the country’s domestic cotton requirement, and hence, it is dependent on imports mainly from the United States. Therefore, to reduce the dependency on imports, the area under cultivation is expected to increase, which will drive the seed market in the country.
Mexico Seed Industry Overview
The Mexico Seed Market is moderately consolidated, with the top five companies occupying 55.59%. The major players in this market are BASF SE, Bayer AG, Corteva Agriscience, Land O'Lakes, Inc. and Syngenta Group (sorted alphabetically).Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
1 EXECUTIVE SUMMARY & KEY FINDINGS2 REPORT OFFERS7 KEY STRATEGIC QUESTIONS FOR SEEDS CEOS
3 INTRODUCTION
4 KEY INDUSTRY TRENDS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
8 APPENDIX
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- BASF SE
- Bayer AG
- Bejo Zaden B.V.
- Corteva Agriscience
- Groupe Limagrain
- KWS SAAT SE & Co. KGaA
- Land O'Lakes, Inc.
- Rijk Zwaan Zaadteelt en Zaadhandel B.V.
- Sakata Seeds Corporation
- Syngenta Group
- Takii and Co.,Ltd.
Methodology
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