The need of the hour is to produce more crops with the same or the diminishing land. This has in a way sacrificed the variety of crops we used to have once. Companies have introduced hybrid seeds and then introduced biotech traits into them which made them resistant to many diseases and calamities. Moreover, these corporate giants patented these seeds in their names, to make their sales grow and make them more profitable. This is gradually killing the traditional way where farmers would save the seeds for the next season. Rather now they have to buy them every time from these companies. The government is also promoting these biotech or hybrid seeds in order to make up for the increasing food demand.
So, the agricultural sector is changing hands, although slowly, from the farmers to the seed giants. Monsanto, DuPont, Syngenta are the few big players in the seed industry. Another interesting trend in the industry, however contradictory to the cause of introducing these biotech crops, is the use of crops as biofuels, sacrificing the need for food. Governments as well as companies are encouraging farmers to grow crops which can be used for biofuels.
The biggest challenge now is, one, whether these biotech crops are really satisfying the cause and secondly, how to protect the non-biotech or the conventional crops from getting contaminated by the genetically modified crops.
The report is an attempt to analyze the size of the global seeds market, focusing primarily on the biotech seeds industry, along with the forecast of the industry size. The growth drivers and major issues facing the industry are also being touched upon. The major players of the industry are being profiled, highlighting their strategies.
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