Sorghum and Sorghum Seeds Market Size to Surpass USD 17.74 Billion by 2032
The global Sorghum and Sorghum Seeds market is anticipated to grow from USD 11.79 billion to USD 17.74 billion in 10 years. Sorghum is a drought-tolerant and heat-resistant crop, making it well-suited for regions facing climate change challenges. It offers an opportunity for food security and sustainable agriculture, mainly in arid and semi-arid regions. Furthermore, continuous advancements in R&D are anticipated to create new opportunities during the upcoming period.
Newark, Nov. 21, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 11.79 billion in 2022 global Sorghum and Sorghum Seeds market will reach USD 17.74 billion by 2032. Processing sorghum into value-added products such as sorghum flour, sorghum syrup, and ready-to-eat meals presents opportunities for diversification and market growth. In regions with food security challenges, sorghum can ensure a stable food supply. Opportunities exist for collaborations with humanitarian organizations and governments to address food security issues. Furthermore, the global expansion of sorghum cultivation beyond traditional regions presents opportunities for increased production and trade. New markets and partnerships can be explored to meet rising demand. Also, educating consumers about the nutritional benefits and versatility of sorghum can create new market opportunities and increase its adoption in various culinary traditions. Besides, government policies and incentives to promote sustainable agriculture and sorghum cultivation can create a conducive environment for farmers and businesses, driving market growth.
Request to Download Sample Research Report – https://www.thebrainyinsights.com/enquiry/sample-request/13801
Report Coverage Details
|Market Size in 2022||USD 11.79 Billion|
|Market Size in 2032||USD 17.74 billion|
|No. of Pages in Report||235|
|Segments Covered||Type, Application Form|
|Drivers||Growing Demand for Healthy Food Products|
|Opportunities||Growing Demand for Gluten-Free Products|
|Restraints||Limited Awareness and Consumer Preferences|
Key Insight of the global Sorghum and Sorghum Seeds market
Asia Pacific is expected to witness the highest market growth over the forecast period.
Sorghum has a long history of cultivation and consumption in Asia, particularly in countries like India and China. The grain is used in various traditional dishes and is an integral part of the local diets. As such, there is an existing cultural and culinary connection to sorghum that supports its consumption. There is a rapidly increasing population in the region. As the need for food and feed grains increases with population growth, there is an opportunity for sorghum to serve as an important staple crop and source of nutrition. Sorghum is a nutrient-dense grain, rich in dietary fiber, antioxidants, and essential vitamins and minerals. As consumers in the Asia Pacific become more health-conscious, the nutritional benefits of sorghum make it an attractive choice, especially in countries where malnutrition is a concern. In addition, sorghum’s natural tolerance to drought and heat makes it a resilient crop in regions prone to water shortage and harsh climate events. This characteristic aligns with the climatic conditions in many parts of Asia, making it a reliable crop choice. Furthermore, the Asia Pacific region has a growing livestock industry. Sorghum is widely used as an animal feed ingredient, providing a source of nutrition for livestock. The growing need for dairy and meat products in the region drives the need for sorghum in animal feed.
In 2022, the grain sorghum segment dominated the market with the largest share of 35.61% and revenue of 4.20 billion.
The type segment includes biomass sorghum, forage sorghum, grain sorghum and sweet sorghum. In 2022, the grain sorghum segment dominated the market with the largest share of 35.61% and revenue of 4.20 billion.
In 2022, the grain segment dominated the market with the highest share of 21.38% and market revenue of 2.52 billion.
The application form segment is classified into grain, flour, popped, flakes, puffs, chips, pasta, syrup and others. In 2022, the grain segment dominated the market with the highest share of 21.38% and market revenue of 2.52 billion.
In 2022, the human food/feed segment held the largest market share at 42.81% and a market revenue of 5.05 billion.
The end use segment is divided into human food/feed, biofuel and ethanol, livestock feed and others. In 2022, the human food/feed human food/feed segment held the largest market share at 42.81% and a market revenue of 5.05 billion.
Procure Complete Research Report – https://www.thebrainyinsights.com/report/sorghum-and-sorghum-seeds-market-13801
Advancement in market
In February 2022: Alta Seeds, the esteemed seed brand under Advanta US and a prominent supplier of superior sorghum genetics and cutting-edge technology has unveiled its hybrid selection for the 2022 growing season. Following the recent, triumphant introductions of EMPYR Premier Forages, igrowth, and ADV F8484IG—the inaugural herbicide-tolerant forage sorghum—Alta Seeds is significantly broadening its array of crop solutions for growers in 2022.
In October 2021: Crystal Crop Protection Ltd. and Bayer CropScience have forged a strategic partnership aimed at the acquisition of Cotton, Mustard, Pearl Millet, and Grain Sorghum hybrids in India. This significant move will enhance Crystal’s presence in the field crops seed sector, bolstered by the addition of robust brands and advanced R&D capabilities. These newly acquired crops seamlessly align with Crystal’s existing seeds portfolio, positioning the company to expand its footprint in the Indian seeds market.
Driver: Government support and policies.
Government initiatives and policies, such as subsidies for sorghum farmers and the promotion of sustainable agriculture, can have a considerable result on the market. Government subsidies provided to sorghum farmers can come in various forms, including financial incentives, reduced input costs, and support for infrastructure development. These subsidies encourage farmers to increase sorghum cultivation and can lead to a higher supply of sorghum in the market. In addition, governments can implement price support mechanisms to stabilize sorghum prices, ensuring that farmers receive fair compensation for their produce. This stability provides an incentive for farmers to continue cultivating sorghum. Furthermore, government funding for research and development in sorghum agriculture can lead to improved sorghum varieties with higher yields, pest resistance, and drought tolerance. These innovations can enhance the productivity of sorghum farming and make it more attractive to farmers.
Restraint: Price volatility.
The sorghum market can be subject to price volatility, which can make it less attractive for both farmers and investors. Prices may vary due to different factors, including weather events and global economic conditions. When adverse weather events occur, it can lead to reduced supply, which, in turn, may cause prices to surge. Conversely, favourable weather conditions can result in bumper crops and, subsequently, lower prices. This weather-dependent nature of sorghum production contributes to price volatility. The broader global economic environment influences the price of sorghum. Economic aspects such as inflation, exchange rates, and income levels can affect both the demand and supply of sorghum. For example, during economic downturns, reduced consumer spending power may lead to lower demand for sorghum-based products, putting downward pressure on prices.
Opportunity: Investment in research and development.
Investment in research to develop improved sorghum varieties with higher yields, pest resistance, and enhanced nutritional content can create opportunities to develop premium sorghum products. Research and development efforts focused on sorghum can lead to the creation of high-yielding sorghum varieties. These varieties produce more grains per acre, increasing overall productivity for farmers. Higher yields are not only beneficial for meeting food and feed demands but also for ensuring economic sustainability for sorghum producers. Additionally, developing pest-resistant sorghum varieties is crucial for protecting crops from pests and diseases that can devastate yields. By investing in research, scientists can identify and incorporate genetic traits that make sorghum plants more resistant to common pests. This factor reduces the need for chemical pesticides, lowering production costs and minimizing the environmental impact.
Challenge: Infrastructure and distribution constraints.
Inadequate transportation infrastructure, such as poorly maintained roads and a lack of modern transportation options, can make it difficult to move sorghum efficiently from farms to markets. This factor can result in longer travel times and increased transportation costs. In addition, delays in transporting sorghum from farms to markets can increase the risk of post-harvest losses. Prolonged exposure to unfavourable environmental conditions, such as moisture and pests, can reduce the quality and quantity of sorghum, leading to economic losses for farmers. Furthermore, inadequate distribution networks can restrict the geographical reach of sorghum products. It may limit access to broader or more lucrative markets, reducing the potential for higher sales and income for farmers.
Interested to Procure the Research Report? Inquire Before Buying – https://www.thebrainyinsights.com/enquiry/buying-inquiry/13801
Some of the major players operating in the global Sorghum and Sorghum Seeds market are:
• Archer Daniels-midland Company
• Advanta Seeds
• Allied Seed
• Bayer Cropscience LLC
• Blue River Hybrids
• Capstone Seeds Source
• Corteva Agriscience
• Dyna-Gro Seed
• Groupe Limagrain
• Heritage Seeds
• KWS Group
• Mabele fuels pty (Ltd)
• National sorghum producers
• Richardson seeds, Ltd.
• Sustainable Seed Company
• Safal Seeds & Biotech
• Seed Co., Limited
• UPL Limited
Key Segments cover in the market:
• Biomass Sorghum
• Forage Sorghum
• Grain Sorghum
• Sweet Sorghum
By Application Form
By End Use
• Human Food/Feed
• Biofuel and Ethanol
• Livestock Feed
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion) and volume (Tons). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.