Rising global food demand is a critical cause of concern for the agriculture industry. it has also increased the importance of oilseed grain seed crops on global platform. Both these types are some of the fastest growing crops, which can support the rising food demands of the urban and rural areas of the developed and developing countries. All these factors have a great impact on the global oilseed and grain seed market, which is growing at a rapid rate.
Based on the geographical locations, the global Oilseed Market is segmented into various regions such as North America, Latin America, Europe, Asia Pacific and rest of the world. Corn dominates global grain seed market, which is a major product in North America and Europe. Soybean on the other hand dominates the global oilseeds market, which is largely produced in Latin America. The rest of the world region takes largest production of sorghum while Asia Pacific region is the major producer or rice and cotton.
According to the forecasting reports, the global oilseed and grain market is estimated to increased at the CAGR of 12% from 201 to 2018. At this rate, the market will reach past $64,113.0 million by the end of 2018. North America is the largest market for both oilseeds and grain crops with more than 80% of market shares with United Stated of America. Asia Pacific region is dominated by China and India. Latin America is cited to be the fastest developing geographical region. Segmentation in this market is based on the types of crops, traits and grain seeds used.
Based on crop types the market is segmented into oilseed and grain seed market. While grain seeds are similar to cereals and ideal to be used as human food, oilseeds are popularly grown to be consumed as food along with significant oil content. The most popular grain seed crops include rice, wheat, corn, millet, rye, etc. Most commonly grown oilseed crops include soybean, cotton, canola and sunflower. Apart from these crops, farmers also prefer mixed production of the crops like flaxseed, mustard, olives, peanuts, quinoa, sesame, sugar beets, sorghum, etc.
Herbicide tolerance, insecticide tolerance and other staked traits of both oilseed and grain crops are considered for detailed segmentation. Abiotic stress tolerance, disease resistance and modified quality pollination control are some staked traits. Herbicide resistant seeds dominate most segments of the market followed by insecticide resistant seeds. Advancements in genetic engineering are helping the market in finding insect resistant and fastest growing crops, which is driving better opportunities in the market.
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