Global Sorghum Seed Market - 2020-2027
|高粱種子的全球市場 (2020年∼2027年) Global Sorghum Seed Market - 2020-2027|
|出版日期: 2020年11月21日||內容資訊: 英文||
Sorghum seed is the staple and cereal grain crop grown in the climates with long summers. It can easily grow in the poor soils where cereals such as maize, rice and other cereals cannot grow. It is the drought and heat resistant that can grow in the hot and arid regions. It provides the good yields even in regions with water scarcity. It is grown for food, hay and fodder and used in making brooms and brushes. It is rich source of the unsaturated fats, carbohydrates, protein, fiber, and minerals such as phosphorus, potassium, fiber, and calcium.
Sorghum seed is available in the different types in colour, shape, and size. It is beneficial for maintaining the bone strength. It is useful for prevention of anemia by increasing the circulation of blood in human body. It is widely grown for producing the edible oil, starch, dextrose, paste, and alcoholic beverages. It is also useful for the production of biofuels.
The global sorghum seed market size was worth US$ XX billion in 2018 and is estimated to reach US$ XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027).
Increase in Farmers Growing Sorghum is Driving the Growth of the Market
The market is driven by the rising in the demand for the sorghum seeds with the increasing number of the farmers growing the sorghum seeds. According to the Agricultural Marketing Resource Center (AgMRC) Organization, the area planted to sorghum has increased by 66% over the past 50 years across the globe. The large number of the farmers grow the sorghum seeds in as the sorghum seeds as sorghum seeds can tolerate drought, soil toxicities, and temperature extremes effectively in comparision to the other forage seeds. Sorghum seeds can be grown in the areas under moisture stress conditions. Sorghum seeds can easily adapt to the dry and less fertile areas. Sorghum seeds provides the higher yields to the farmers in comparision to the seeds of other forage crops.
Growing Funding & Investment is Expected to Boost the Market Growth over the Forecast Period
Several companies are raising the funding and investment for development of sorghum seeds. For instance, in January 2014 Chromatin, Inc., a Chicago-based agtech company focused on sorghum production had closed the Series E round of USD 36 million. This funding would be used for the expansion and accelerating the development and differentiation of sorghum for sales in both the United States and international markets. In July 2014, Chromatin, Inc had closed the three-year, $12.5 million credit facility with The PrivateBank. This credit facility would be used to support the company's rapidly expanding sorghum seed business. Moreover, the several organizations, institutes and associations are providing the grant for the sorghum seeds. For instance, in November 2017, Bill & Melinda Gates Foundation had provided the five-year USD 5 million grant to the Purdue University to support the research on high-yielding drought- and parasitic weed-resistant varieties of sorghum. This funding would be useful for identifying the more genes involved in imparting broad-based and durable striga resistance in sorghum and other crops. It would support the development of the breeding pipeline for improved varieties of sorghum.
Growing Intiatives by Several Organizations, Institutes & Associations for Promoting the Use of Sorghum Seed is Increasing the Market Growth
There is growing initiatives by the several organizations, institutes and associations for promoting the use of the sorghum seeds in various countries. For instance, in March 2017, NARS institutions, agricultural universities, Indian Institute of Millets Research (IIMR), Maharashtra State Seed Corporation (Mahabeej) and Maharashtra State Seed Certification Agency (MSSCA) and The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) had initiated the Sorghum Seed Consortium to promote the distribution of seeds of improved cultivars among thousands of farmers in Maharashtra, India. This Consortium has increased the production of the sorghum seed from 300 tons in 2013 to 3000 tons in 2016. This Consortium has resulted in availability of the improved varieties of sorghum seeds in Western Maharashtra and Marathwada regions of Maharashtra. Sorghum Seed Consortium has replaced the traditionally popular post-rainy sorghum cultivar i.e., M 35-1 (Maldandi) with the improved varieties for enchancing the crop productivity. The United States Department of Agriculture (USDA) had established the United Sorghum Checkoff Program for overseeing the formation of checkoff organizations under the authority of Commodity, Promotion, Research and Information Act of 1996. The United Sorghum Checkoff Program would be useful for improving the profitability of sorghum growers through research, education and promotion. This program would maintain and expand existing sorghum markets and uses.
The global sorghum seed market has been impacted due to the COVID-19 pandemic as the demand for the sorghum seeds has been reduced with the increasing number of people suffering from the COVID-19 across the globe. COVID-19 pandemic has impacted the production, and distribution of the sorghum seeds worldwide. It has created the supply chain and market disruption for sorghum seeds. The exports for the sorghum seeds has witnessed the decreased in the various countries. Several public and private companies are witnessing the decrease in the number of the personnel available for production, transportation and documentation processes for sorghum seeds. Thus, there is decrease in the production of sorghum seeds worldwide. COVID-19 pandemic has reduced the access to high quality of sorghum seeds of modern varieties for agriculture in the various countries.
Grain Sorghum Segment is Expected to Hold the Largest Share in the Sorghum Seed Market
The sorghum seed market is classified based on the product type as the grain sorghum, sweet sorghum, forage sorghum, and biomass sorghum. The grain sorghum segment is anticipated to hold the largest share in the sorghum seed market as there is rising initiatives for growing the grain sorghum by the farmers due to its several advantages such as drought tolerance, wide adaption, short growing season, and versatile planting dates in comparision to the other types of sorghum seed such as sweet sorghum, forage sorghum, and biomass sorghum. It requires the warm, moist soil well supplied with air and fine for for rapid seed germination. Grain sorghum need the right soil-air-water balance for limiting the plant stress during drought periods. Grain sorghum are the best alternative to the corn as the grain sorghum is similar to corn in composition and in feeding value. It is rich in nutrients such as protein, sugar, starch, zinc, iron, phosphorus, calcium, potassium, and other nutrients. There is growing demand for grain sorghum for baked goods as it provides the nutritious and gluten-free benefits to the consumers. Grain sorghum is a preferred subsitutes for the wheat flour especially for the patients with celiac disease as the grain sorghum comprised of the gluten free starch.
By Application, Sorghum Planting Segment is Expected to Witness a High Growth Over the Forecast Period
The sorghum seed market is classified based on the application sorghum planting and sorghum breeding. Sorghum planting is expected to grow at a highest CAGR over the forecasted peroid as there is growing usage of the sorghum seed for the sorghum planting as the sorghum is the low-maintenance crop. Sorghum planting is performed on the shallow and heavy clay soils. Sorghum planting is well adapted to hot and dry climates. Sorghum planting provides the better yields in comparision to the other staple crops. The sorghum breeding is expected to have the positive market growth over the forecasted peroid as there is rising adoption of the sorghum breeding for growing the sorghum seeds with high yield, good threshability, disease and insect resitance. Sorghum breeding is helpful to derive the diverse and broad genetic based hybrid varieties of sorghum seeds. Sorghum breeding is useful for growing the sorghum plants with good height of approximately 1.25 metres to 2 metres. Various breeding strategies such as pure line selection, pedigree method, and back cross breeding are most commonly used for sorghum breeding.
North America Region Holds the Largest Market Share Global Sorghum Seed Market
North America region is dominating the global sorghum seed market accounted for the largest market share in 2019. There is growing usage of the sorghum for feeding the livestock, human consumption and other applications. There is increase usage of the sorghum for ethanol production including the starch from grain, sugar from pressed juice and high biomass production. The advanced technologies are being used for the production of the sorghum seed with good quality and better yield. The United States is expected to hold the largest share in this region owing to the higher demand for the sorghum seed. According to the U.S. Department of Agriculture (USDA), the total sorghum production was 363.8 million bushels in the United States in 2017. According to the U.S. Department of Agriculture (USDA), 90% of the U.S. sorghum crop had been harvested in the six major sorghum-producing states in the United States in November 2020. According to the Agricultural Marketing Resource Center (AgMRC) Organization, the United States is the leading exporter of sorghum.
The United States has exported the total 6.04 million metric tons of sorghum to the various countries in 2018. There is growing initiatives by the government for exploring the use of the sorghum seed for biofuel production. For instance, The California Energy Commission had provided the USD 3 million matching grants to Calgren Renewable Fuels, Aemetis, and Pacific Ethanol to develop sorghum as an ethanol source. This grant would help the ethanol producers to develop the sorghum as an ethanol feedstock source as it requires less water to grow. This grant would be useful for conducting the university-led agronomic studies of sorghum for identifying the varieties of sorghum seeds to be grown best in California, and for purchasing specialized equipment.
Asia-Pacific Region is Expected to Grow at the Fastest CAGR During the Forecast Period
Asia-Pacific region is estimated to be the fastest-growing region in the global sorghum seed market owing to the increasing demand for the sorghum seeds as these seeds are the viable economic alternative to all the stable crops. There is increasing usage of the sorghum as fodder for livestock such as poultry and cattle. There is growing usage of the sorghum for the production of the brewers. It is widely used for developing the couscous, sorghum flour, porridge and molasses. Countries such as India, Nigeria, Sudan, and Ethiopia are the major producers of sorghum seed. There is presence of the several market players developing the improved sorghum seeds with good yields. Several organizations and institutes supporting the farmers growing the sorghum seeds. For instance, Indian national agricultural research systems (NARS) and ICRISAT are supporting the farmers to use the improved management practices for growing sorghum seeds.
The sorghum seed market studied is a fragmented market with the presence of large number of market players. Advanta Seeds, Corteva Agriscience, Bayer CropScience SE, Groupe Limagrain, Nuseed, Alta Seeds, Allied Seed LLC, Seed Co Limited, Monsanto, Dupont Pioneer, Nufarm, Chromatin, Dyna-Gro Seed, and Sustainable Seed Company are the major players with the significant market share. The major players are adopting several growth strategies such as product launches, mergers, licensing, acquisitions, and collaborations, which are contributing to the growth of the Sorghum Seed market globally. For instance,
The global Sorghum Seed market report would provide an access to an approx. 61 market data table, 58 figures and 230 pages.
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