As per our research report, the Latin America Seed market size is estimated to be growing at a CAGR of 8.10% from 2023 to 2030.
The pandemic had a significant impact on the seed market in Latin America. Due to geographical restrictions in traveling, the transfer of seeds was affected, which delayed the production process and subsequently declined the demand for seeds in the region. Furthermore, ongoing virus infection during the pandemic created a labor shortage, which negatively affected the cultivation of seeds. In addition, supply chain disruptions halted the entire process of seed production, manufacturing, and distribution.
Moreover, the government’s shift in budget towards the healthcare sector further impacted the seed market in Latin America. However, increasing consumer demand for homemade and balanced diet food increased the demand for seeds, particularly from e-commerce platforms such as farmers’ markets and online agro-dealers. Moreover, increased health awareness among consumers during the pandemic boosted the demand for organically produced seeds in the region. These included organic maize, soybean, rice, wheat, and other crops. In addition, there was an increasing trend toward cereal-based breakfasts, particularly among fitness and health enthusiasts. These included increased demand for cereal mixes and spreads from online platforms,
Post-pandemic, there is an increasing trend of seed production by technologically advanced equipment such as agricultural robots and drones, which ensures that seeds are grown properly, monitor the surrounding environment and soil for appropriate seed growth, and collect them for distribution. Furthermore, AI-enabled logistics software enabled farmers in the region to track the delivery of seeds to the destined location and reduce delays in delivery by choosing the best possible route. Moreover, rising trends towards organic seeds and crops led to advancement in seed production, which included growing seeds via organic additives such as biomass, manure, agricultural residues, and others, which helped in reducing carbon footprint and contributed towards environment conservation.
The restraints to this market include the slow pace of adaption towards climate change and limited access of small-scale farmers to agricultural benefits.
Based on market segmentation by crop type, cereals hold the highest share in the region. The growth is attributed to increased consumption of staple food that contains cereals and rising consumer demand for a healthy diet. Furthermore, maize, rice, and soybean are gaining popularity in the region due to wide applications in various healthy food products. Furthermore, fruits and vegetables are the fastest-growing segment during the forecast period. Increased consumer demand for nutrient food products made from natural fruits and vegetables such as jams, spreads, mixes, salads, and others have contributed to the growth of fruits and vegetables in the market. Moreover, the growing trend of veganism, particularly in developed countries is further boosting the demand for fruits and vegetables in the region.
Based on market segmentation by seed type, conventional seeds hold the highest share in the region. Conventional seeds are the traditionally cultivated seed varieties that are naturally bred and undergo minimal processing. The seeds have gained momentum due to their cost-effectiveness to farmers and their natural growth process, that is their dependence on specific environments. Furthermore, genetically modified seeds are the fastest-growing segment during the forecast period. The growth is attributed to higher yield and productivity, reduction in input costs, and increased demand for GM seeds in exports.
Based on market segmentation by distribution channel, agro-dealers and retailers hold the highest share of the market. These channels offer a wide variety of seed choices to farmers with accurate crop information, crop response to climate and surrounding environment, and convenience in delivering bulk orders. Furthermore, e-commerce platforms are the fastest-growing segment during the forecast period. The growth is attributed to increased digitization and rising demand for doorstep delivery by farmers.
Based on market segmentation country, Brazil holds the highest share in the market. Due to its natural resource abundance, Brazil is one of the largest producers of soybean, coffee, maize, and sugarcane, which contributes to the increasing demand for seeds in the region. Further, the rapid adoption of GM crops in Brazil has boosted the market demand for seeds in the region. Furthermore, Argentina is the fastest-growing region during the forecast period. The growth is attributed to increased production of cereals and oilseed crops such as maize, wheat, and sunflowers for domestic consumption and export purposes.
Companies playing a leading role in the Global Latin America Seed market profiled in this report are - Bayer Crop Science, Syngenta, Corteva Agriscience (formerly DowDuPont), Advanta Seeds (UPL Limited), AgReliant Genetics, Limagrain, Nidera Semillas (part of Syngenta), Bejo Zaden, Pioneer (part of Corteva Agriscience), and Seminis (part of Bayer Crop Science)
Cereals
Oilseeds
Fruits and Vegetables
Forage and Pasture
Others
Conventional
Genetically Modified
Hybrid
Others
Direct Sales
Agro-dealers and Retailers
E-Commerce Platforms
Others
Mexico
Brazil
Argentina
Chile
Rest of Latin America
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