Global Native Grass Seeds Market – Insights
Native grass seeds play an important role in prevention of erosion apart from restoring and maintaining natural landscapes such as wetlands, streams, native prairies, woodlands, parks, and sensitive habitats. This in turn has led to high adoption of native grass seeds, thereby aiding in growth of the market.
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Among applications, land conservation & rehabilitation segment accounted for the largest market share in 2018, in terms of revenue. Soil erosion is a major threat to sustaining long-term crop yields. Moreover, sediment deposition in streams is a major threat to aquatic habitats. Native grasses offer more advantages in maintaining soil quality over other crops. For instance, erosion losses associated with corn are over 70 times higher as compared to native grasses produced on the same land as per data published by Elsevier Science Ltd. Therefore, such factors are expected to drive growth of the native grass seeds market during the forecast period.
Native grass seeds are marketed through offline stores such as hypermarkets, supermarkets, and specialty seed stores. Majority of customers prefer to purchase native grass seeds that are stocked by specialty stores. Increasing number of hypermarket and supermarket chains, promotional and marketing activities in the form of offering lucrative discounts on native grass seeds, wide variety of products to choose from, and fair presence of private label products are some of the major factors boosting growth of native grass seeds market during the forecast period. According to India Brand Equity Foundation, retail market in India is expected to reach US$ 1,200 billion in 2021 from US$ 795 billion in 2017.
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However, the prices paid for seeds of native grass vary from around US$ 5.00-6.00kg for some grass species to in excess of US$ 1,000.00kg for other species. Price depends on seed availability, demand, seed size, usage such as biofuel, grazing land forest cover, and labor that is required to harvest the native grass seed. These factors are expected to hinder growth of the market over the forecast period.
The global native grass seeds market was valued at US$ 8,493.2 million in 2018, and is expected to register a CAGR of 8.6% in terms of revenue over the forecast period (2019 – 2027), to reach US$ 17,651.9 million by 2027.
Major players operating in the native grass seeds market include, Millborn Seeds Inc., Outsidepride.com, Inc., Star Seed Inc., Wildflower Farm, Prairie Seed Farms, Bamert Seed Company, Everwilde Farms, Inc., American Meadows, Missouri Seeds Southern, Hedgerow Farms, Roundstone Native Seeds LLC, and others.
Furthermore, key players in the market are focused on adopting strategies such as technological development and collaborations in order to strengthen their footprint in the global native grass seeds market. For instance, on June 2013, Gladstone Investment Corporation announced that, it participated in the acquisition of Star Seed, Inc. investing US$ 9.0 million. Star Seed has become a recognized leader in the national seed market. Based in Osborne, Kansas, Star Seed provides its customers with a variety of specialty seeds and related products. Such activities are expected to have positive impact on growth of the market over the forecast period.
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