Increasing Demand for Processed Food and Launch of Sweet Corn-Based Products to Augment Growth of Sweet Corn Seeds Market

 

Sweet Corn Seeds

Increasing demand for processed food is expected to propel growth of the global sweet corn seeds market. For instance, according to the U.S Department of Agriculture, export of prepared food from U.S. increased from US$ 5, 849 million in 2015 to US$ 6,682 million in 2019. Moreover, launch of sweet corn-based products is also expected to aid in growth of the market. For instance, in December 2020, Brothers All Natural, a provider of freeze-dried fruit crisps, launched Freeze-Dried Sweet Corn with Salt and Pepper.

Significant growth in the fast-moving consumer goods (FMCGs) sector is expected to offer lucrative growth opportunities for players in the global sweet corn seedsmarket. For instance, according to India Brand Equity Foundation, FMCG market in India is expected to grow at a CAGR of 27.86 per cent and is expected to reach US$ 103.70 billion by 2020 from US$ 52.75 billion in FY18.  Moreover, investment in R&D is also expected to aid in growth of the market. For instance, in January 2021, Corteva Agriscience announced that the company begun building a new Center of Seed Applied Technologies (CSAT) in south west France.

Among regions, North America is expected to witness significant growth in the global sweet corn seeds market, owing to high production of sweet corn. For instance, in February 2021, according to the United States Department of Agriculture, Wisconsin recorded 9.99 million cwt sweet corn production in for 2020 from 57,100 harvested acres.

However, maize and sweet corn crops are susceptible to fall armyworm, which is expected to hinder growth of the global sweet corn seeds market.

Competitive Analysis

Major players operating in the global sweet corn seeds market include, Syngenta AG, Bayer AG, Corteva, Inc., Vilmorin & Cie, Harris Seeds, Schlessman Seed Company, MAY Seed, Advanta Seeds, W. Atlee Burpee & Co., and Johnny's Selected Seeds.

Major players operating in the global sweet corn seeds market are focused on launching new flagship products. For instance, in December 2020, Corteva Agriscience launched a new look for its flagship Pioneer seed brand in Europe.

Major players operating in the market are also focused on adopting expansion strategies to enhance their market share. For instance, in 2018, Advanta Seeds started a new state-of-the-art biotechnology facility in College Station, Texas, USA.

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