Mexico Seed Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

Mexico Seed Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The Mexico Seed Market is projected to register a CAGR of 4.44%

Key Highlights

• Largest Segment by Crop Family - Grains & Cereals : In Mexico, corn is the major grain crop and the majority of the area is under transgenic hybrids. And, wheat is the staple food crop with the adoption of improved cultivars.
• Largest Segment by Breeding Technology - Hybrids : It is due to the higher adoption of transgenic hybrids in corn, cotton, alfalfa, and soybean and the availability of high-yielding non-transgenic hybrids in other crops.
• Fastest-growing Segment by Crop Family - Cucurbits : Mexico is one of the major producers of cucumber and gherkins, and pumpkin and Squash. Cucurbits are a healthy food choice with high water content and low-calorie count.
• Fastest-growing Segment by Breeding Technology - Hybrids : Due to the inherent characteristics such as high vigor, resistance to biotic and abiotic stresses, high yielding and uniform maturity, the hybrid segment is growing fastest.

Key Market TrendsHybrids is the largest segment by Breeding Technology.

• Mexico has been the largest market for hybrid seeds since the early 2000s and has been consistently increasing the usage of hybrids. Among hybrids, until 2020, transgenic and non-transgenic are equally used for cultivation.
• Transgenic hybrids have been banned in Mexico since December 2020, and the gradual phasing out of GM crops by 2024 is being done in the country. Especially GM Corn, which is mostly used in the cultivation of corn, will be replaced by sustainable and appropriate alternatives by 2024.
• The herbicide-tolerant cotton plants are tolerant to herbicides such as glyphosate, ammonium glufosinate, and dicamba, which can be used to control weeds. These factors will drive the demand for herbicide-tolerant cotton seeds in Mexico.​
• The transgenic insect resistance cotton is widely accepted by cotton producers in Mexico and around the globe, which has proven to be efficient for the control of major lepidopteran insect pests. Therefore, due to the increasing emergence of pests, the demand for transgenic cotton is increasing in the country.​
• In Mexico, wheat is the major crop under open-pollinated varieties. Out of the total area under commercial seeds, 94% of the area is under open-pollinated varieties. In the wheat crop, hybrids are not yet popular due to difficulties in the development of hybrids.​
• Mexico is not self-sufficient in cotton production. Domestic cotton production in the country accounted for only 50-75% of the country’s domestic cotton requirement, and hence, it is dependent on imports mainly from the United States. Therefore, to reduce the dependency on imports, the area under cultivation is expected to increase, which will drive the seed market in the country.

Competitive Landscape

The Mexico Seed Market is moderately consolidated, with the top five companies occupying 55.59%. The major players in this market are BASF SE, Bayer AG, Corteva Agriscience, Land O’Lakes, Inc. and Syngenta Group (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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