The global sorghum seed market was valued at USD 1104.8 million in 2018, and it is expected to register a CAGR of 4.4% during the forecast period (2019-2024). In 2018, North America was the largest geographical segment of the market studied and accounted for a share of around 35.03% of the overall market.
The report presents an in-depth assessment of the Global Sorghum Seed including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global Sorghum Seed investments from 2020 till 2025.
– Sorghum crops are mostly grown in the arid regions like Africa, Central America, and South Asia. Sorghum crop can be used in a wide range of fields such as human food, animal feed, and biofuels.
– North America is the largest producer of Sorghum, followed by Nigeria and Sudan. Sudan was in fifth place in the year 2016, and due to significant growth in the sorghum production in 2017 has made it the third largest producer of sorghum.
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Top Leading Manufactures-
Advanta Seeds, Corteva Agriscience, Bayer CropScience SE, KWS SAAT SE, Groupe Limagrain, Nuseed (Nufarm Australia Limited), Pannar Pty Ltd, Alta Seeds, Allied Seed LLC, Seed Co Limited
Key Market Trends
Growing demand for animal feed
There is an unprecedented increase in the demand for the animal protein in the last few years. According to the Organisation for Economic Co-ordination and Development (OCED), meat consumption has raised from 114 million metric tons in 2017 to 116 million metric tons in 2018. Poultry meat is the most consumed by humans with per capita consumption of 30.6 kilograms per year, followed by pork with per capita consumption of 23.5 kilograms per year, and beef and veal with per capita consumption of 14.8 kilograms per year. This has lead to an increase in the population of livestock which directly has an effect over the production of animal feed. As a result of this, according to a report published by NASS-USDA, the usage of sorghum as feed concentrates has increased from 2.3 million metric ton in 2014 to 3.6 million metric tons globally in 2016.
North America is the Largest Exporter
North America is the largest market for sorghum seeds with a market share of 35.18% which valued about USD 362.6 million in 2017. According to USDA, North America is one of the largest exporters of sorghum with 6.1 million tons of exports. Australia, Ukraine, Nigeria are also some of the largest exporters of sorghum. Japan, Mexico, and Philipines are the major importers of North American sorghum. However, China is the worlds largest importer of Sorghum says USDA.
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–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Global Sorghum Seed Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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