Rice Seeds Global Market Report 2024

Rice seed denotes a living grain employed for the purpose of planting and cultivating rice. These seeds are the unhusked, uncooked grains selected from the rice crop during the harvesting process. Additionally, rice seeds can serve as bioreactors for the production of human medications, such as therapeutic proteins or peptides.

The primary classifications of rice seeds include open-pollinated rice varieties and hybrid rice varieties. Open-pollinated rice varieties are generated through the straightforward exchange of pollen between two similar parent rice plants. Various rice grain sizes, including long-grain, medium-grain, and short-grain rice, are produced using hybridization techniques such as the two-line system and three-line system. Rice seeds are available in treated and untreated forms, suitable for both agricultural planting and scientific research purposes.

The rice seeds market research report is one of a series of new reports that provides rice seeds market statistics, including rice seeds industry global market size, regional shares, competitors with market share, detailed rice seeds market segments, market trends and opportunities, and any further data you may need to thrive in the rice seeds industry. This rice seeds market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rice seeds market size has grown strongly in recent years. It will grow from $7.82 billion in 2023 to $8.53 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The expansion observed in the historical period can be attributed to factors such as population growth, the cultivation of traditional rice varieties, government policies, and subsidies, as well as environmental factors.

The rice seeds market size is expected to see strong growth in the next few years. It will grow to $12.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The anticipated growth in the forecast period can be ascribed to shifts in dietary preferences, the development of crops with increased resilience and disease resistance, the influence of trade and globalization, the promotion of sustainable agriculture, growing consumer awareness, and efforts towards climate change mitigation. Prominent trends in the forecast period involve the adoption of genetic engineering, the embracing of high-yield varieties, the implementation of digital agriculture practices, market diversification, and the promotion of sustainable farming practices.

The anticipated growth in the world population, along with the subsequent increase in food demand, is poised to drive the expansion of the rice seeds market. As per Worldometer, the global population stood at 7.9 billion in 2021 and is projected to reach 10 billion by 2057. This rise in population is expected to fuel the demand for food, consequently contributing to the growth of the rice seeds market. The Food and Agriculture Organization of the United Nations (FAO) predicts a 70% increase in global food demand by 2050. Hence, the escalating global population and the ensuing demand surge for food are significant drivers for the rice seeds market.

The escalation of climate change is anticipated to act as a catalyst for the rice seeds market. Climate change denotes substantial and prolonged shifts in Earth's climate patterns, encompassing alterations in temperature, precipitation, wind patterns, and other climate-related factors. Rice seeds play a crucial role in mitigating and adapting to climate change. Climate-resilient rice varieties aid farmers in coping with temperature fluctuations, changes in precipitation, and extreme weather events. Drought-tolerant and flood-resistant rice seeds enhance food security in regions prone to water scarcity and floods. The World Health Organization reported that approximately 3.6 billion people reside in areas highly vulnerable to climate change, with an expected increase in climate-related deaths from undernutrition, malaria, diarrhea, and heat stress. Hence, the mounting impact of climate change is poised to propel the rice seeds market.

Major players in the rice seeds sector are actively pursuing innovative technologies to enhance productivity and rice quality. For instance, in February 2022, Horizon AG, a USA-based organization specializing in organic acids research and development, collaborated with the University of Arkansas to introduce CLL18, a new rice variety incorporating Clearfield technology. CLL18 demonstrated a two-year mean yield of 221 bushels per acre, surpassing previous rice seed versions. Its early maturity and suitability for coastal regions make it well-suited for second crop situations.

Companies in the rice seeds market are focusing on innovating specialty rice seed varieties, such as aromatic rice, to bolster their market profitability. Aromatic rice, known for its unique nutty fragrance and flavor attributed to the compound 2-acetyl-1-pyrroline, features medium to long grains with a light and fluffy texture when cooked. For instance, the Cambodian Ministry of Agriculture, Forestry and Fisheries launched Champei Sar 70 in April 2023, an aromatic rice variety with a three-month maturation period and various health benefits. Expected to enhance Cambodia's rice exports, Champei Sar 70 contributes to the government's target of exporting 1 million tons of fragrant rice by 2025.

In December 2021, Crystal Crop Protection, an India-based seed manufacturing company, acquired four hybrid seed businesses from Bayer AG, a Germany-based multinational pharmaceutical and biotechnology company. This acquisition aims to fortify Crystal Crop Protection's field crop seed business and reinforce its position in the agriculture and seeds market.

Major companies operating in the in the rice seeds market report are Bayer AG, Syngenta Group, Advanta Seeds Pty Ltd, Nuziveedu Seeds, Mahyco, BASF SE, Kaveri Seeds Co Ltd, SL Agritech Corporation, Rasi Seeds Pvt. Ltd., Rallis India Limited, JK Agri Genetics Limited, Hefei Fengle Seed Co. Ltd., Corteva Agriscience, Guard Agri Genetics, Savannah Seeds Private Limited, Pioneer Hi-Bred International Inc., Krishidhan Seeds Pvt. Ltd., Nath Biogene (I) Ltd., Seminis Vegetable Seeds Inc., Seed Co Limited, Biostadt India Limited, Takii & Co. Ltd., National Seeds Corporation Limited, Maharashtra Hybrid Seeds Company Ltd., Namdhari Seeds Private Limited, Metahelix Life Sciences Private Limited, Best Genetics India Private Limited, Japan Dietetic Corporation, Kinze Manufacturing Inc., Limagrain Europe SA, Morepen Laboratories Limited

Asia-Pacific was the largest region in the rice seeds market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the rice seeds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the rice seeds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The rice seed market consists of sales of bran, rice kernel, and endosperm. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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