Rising Demand For Organic And Hybrid Seeds

Posted 2023-12-13 10:25:11

The Vegetable Seed market is estimated to be valued at US$ 7603.24 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis:

Strength: The vegetable seed market has a large customer base globally due to increasing health consciousness. Vegetable seeds also have high demand among organic farmers. Advanced technologies are being used for vegetable seed production and quality testing.

Weakness: Seasonal fluctuation in vegetable production affects the sales of vegetable seeds. High dependency on monsoon further impacts the supply of vegetable seeds. Significant production variations across regions pose challenges.

Opportunity: Growing organic and contract farming is opening new opportunities. Developing hybrid varieties suitable for changing climate conditions will boost demand. Rising female labor participation in agriculture can augment the vegetable seed market.

Threats: Strict regulations and compliances increase the cost of vegetable seed production. Emerging diseases and pests threaten crop yields. Higher seed prices can reduce farmers’ profit margins. Trade wars and policies influence export-import of vegetable seeds.

Key Takeaways:

The Global Vegetable Seed Market Size is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing health awareness and changing dietary patterns. Countries like India, China, U.S., Brazil are major producers and consumers of vegetables globally.

Regional analysis

Asia Pacific dominates the global vegetable seed market owing to the large cultivation area and consumer base in countries like India and China. India accounted for over 15% of the global vegetable production in 2020. Europe is also a significant market for vegetable seeds due to the developed horticulture industry and growing organic farming.

Key players:

Key players operating in the vegetable seed market are Bayer CropScience AG, Groupe Limagrain, Syngenta AG, BASF SE (Nunhems BV), Rijk Zwaan Zaadteelt En Zaadhandel BV, Sakata Seed Corporation, UPL Limited (Advanta Seeds International), Takii & Co. Limited, East-West Seed International Ltd, Enza Zaden BV, Bejo Zaden BV, and Namdhari Seeds. The top companies are focusing on mergers, acquisitions, and new product launches for business expansion.

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