The market for hybrid rice seeds is expected to grow from US$ 5.1 billion in 2023 to US$ 10.8 billion in 2033. Between 2017 and 2022, the global market was initially growing at a CAGR of 7%.
Many abiotic and biotic factors present a barrier to sustainable rice agriculture. As a result, stress tolerance has been included into high-yielding varieties, which has shown to be a very successful method for creating these varieties that can handle such circumstances. This is boosting the hybrid rice seeds market and reducing the losses brought on by stress-related issues.
The development of hybrid rice seeds that are resistant to microbial infestations and produce larger yields in a relatively short amount of time than inbred types is another focus for hybrid seed producers, which is expected to fuel expansion.
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Since rice is a staple food for around 60% of the world’s population, the demand for it is rising along with the worldwide population. In order to meet this rising demand and supply rice to various end users, rice yield per unit area has also increased.
To develop new hybrid rice seeds varieties and encourage farmers to use them, the government and numerous research institutions are working together.
Key Takeaways
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Key Strategies in the Industry
Due to the rising need for bigger yields and better-quality produce, hybrid rice seed technology has experienced substantial expansion in the last few years. In order to gain market share in the fiercely competitive market for hybrid rice seeds, businesses must offer better variety, affordable prices, and aggressive marketing.
To remain ahead of the competition, businesses are developing new types and technologies. To reach more clients, they are also concentrating on marketing and advertising initiatives. In order to expand their reach, businesses are also concentrating on enhancing their distribution networks and opening new stores.
Recent Developments
Key Segments
By Grain Size:
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