In recent years, there has been a growing tendency among farmers to cultivate sweet corn seeds because of the increasing consumption of sweet corn. This has thus helped in driving the growth of the global sweet corn seed market. One prominent example can be given is of Thailand, who is one of the leading exporters of canned sweet corn. The nation exports over 0.7 mn tons of sweet corn each year to other countries such as Taiwan, Japan, and South Korea.
In addition to this, East Asia is among the top producers of field sweet corn where most of it is used for animal feed. China is among the most prominent consumers of sweet corn and the nation accounts for over two thirds of the overall share of the East Market for sweet corn seed. In addition to this, China is also one of the key consumers of sweet corn products such as processed corn, sweet corn candy, and sweet corn flour among others. This too has helped in augmenting the demand for sweet corn seed in the past few years.
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Increasing Demand for Hybrid Seeds to Help in Market Development
Improved sugar content with longer shelf life of these sweet corn seeds has resulted in growing demand for hybrid sweet corn seeds. In general, the consumption of these hybrid sweet corn seed is projected to be on the higher side among the segments of type of sweet corn seeds. Hybrid sweet corn seeds accounts for over half of the overall share of the of the global sweet corn seed market in recent years. However, growing consumption of farm saved sweet corn seeds and open pollinated certified sweet corn seeds is expected to have a positive impact on the overall working dynamics of the global market.
Farmers are now opting for several processes for the production of sweet corn seeds. They are using several channels such as farmers market, point of sale markets, direct delivery to purchasers’ channels such as contractors and agri-retailers, and on farm stands among others. In addition to this, with the growing penetration of internet and increasing spread of digitization, several new agro-online platforms have emerged. This fact coupled with emergence of companies such as Monsanto and Syngenta have also helped in bringing the market closer to the end-users. All these factors have thus been having a highly positive impact on the overall development of the global sweet corn seed market. Furthermore, the market has become even more accessible due to emergence of online agro-retailers such as Farmers Stop, Agrowala, BigHaat, Agrozones, AgriBegri, and TruBasket among others.
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Mergers and Acquisitions are Key for Market Leaders
Some of the key companies operating in the global sweet corn seed market include names such as Vilmorin & Cie, Corteva, Bayer AG, and Syngenta AG among others. These companies in global market are now planning to tap into the previously unexplored potentials of the global market. They are trying to reach new geographical regions and expand their production capacities in order to stay ahead of the competitive curve. Furthermore, leading companies in the global sweet corn seed market are expected to adopt aggressive marketing strategies such as mergers, joint ventures, strategic alliances, takeovers, and acquisitions to maintain a strong brand position and attract new consumers.
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