Rice is the seed of the grass species Oryza glaberrima or Oryza sativa. As a cereal grain, it is the most broadly consumed staple food for a large part of the world’s human population, especially in Africa and Asia. Quality seed is very important to increase production. It is necessary to maintain the varietal purity of seed, and control the seed-borne disease for the production of high-quality seed. The rice seeds are produced by using techniques such as a two-line system and three-line rice seed-producing system. The rice seeds are available in the treated and untreated form where treated rice seeds are widely used by the pharmaceutical industry. Rice seed-based medicines are expected to be new edible drug therapies. Besides, rice is a good source of vitamin B, and also an excellent source of minerals such as magnesium and manganese. Where, brown rice contains contain a high proportion of vitamins and oxidants while white rice contains phosphorous, thiamine, selenium, folic acid, omega 6 fatty acids, and niacin.
Rice Seeds Market: Market Dynamics
Continuous technological advancements in the field of molecular biology, genomics, biotechnology have led to developments in hybrid rice breeding. This is expected to fuel the growth of the global rice seeds market. The farmers in the Asia Pacific widely use the hybrid rice production system which led to increased output of the hybrid rice seeds in this region. The major rice seed producing companies are expanding their business in Asian countries. The strong support from the government in providing subsidies for hybrid seed has encouraging farmers to adopt hybrid breeding technology in developing countries. Also, reducing prices of hybrid rice seeds, to bridge the difference between open-pollinated varieties and hybrid seeds, enabling key players to invest in the developing markets. Countries such as India, China, Thailand, and Vietnam are dominating the Asia Pacific rice seeds market owing to the high production of both open-pollinated varieties and hybrid rice seeds.
The market participants in the global rice seeds market identified across the value chain include
Bayer CropScience Limited, Ajeet Seeds Pvt. Ltd., Pan Seeds Pvt. Ltd., Kaveri Seeds, Mahindra Agri Solutions Pvt. Ltd., Nuziveedu Seeds Limited (NSL), Savannah Seeds Private Limited, Syngenta, Rallis India Limited, Biostadt India Limited., DuPont Pioneer, Mahyco, and others. These manufacturers are looking for more opportunities in the developing market such as the Asia Pacific and Africa regions. Also, the key players are focused on financing and making agreements with farmers to increase their rice seed production.
Opportunities for the Market Participants in the Global Rice Seeds Market
Currently, the global rice seeds market is dominated by open-pollinated rice varieties. However, the increasing adoption of hybrid rice seeds farming and declining prices of hybrid rice seeds are expected to drive the growth of the global rice seeds market. The Asia Pacific holds the largest share in the global rice seeds market owing to high production and consumption of rice and rice seeds. North America is expected to hold the second-largest share in the global rice seeds market. The increasing adoption of commercial hybrid seeds and open-pollinated varieties over farm-saved seed have contributed to the growth of the global rice seeds market. Latin America and the Middle East and Africa regions are expected to register a healthy growth rate in the forecast period of the global rice seeds market.
Impact of COVID-19 on the Rice Seeds Market
COVID-19 is the biggest public health crisis of the 21 century so far. The policies and programs to contain COVID-19 also have had massive secondary social and economic effects globally. The pandemic has affected millions of lives around the globe. Initially, every country in the world has announced lockdown for a month which widely affected the trade of the agriculture commodities. The rice seeds manufacturing companies are facing a shortage of raw material due to disrupted supply chain and transportation. The farmers also faced challenges with harvesting the rice due to a lack of manpower during the lockdown period. Then after the government has allowed the trade of essential and agriculture-related goods, has normalized the growth of the global rice seeds market.