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Pakistan Seed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Pakistan Seed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • August 2021
  • 109 pages
  • ID: 6134947
  • Format: PDF
  • Mordor Intelligence LLP

Summary

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The Pakistan Seed Market was Valued at USD 355.0 million in 2020 and it was projected to reach USD 458.6 million in 2026 registering a CAGR of 5.2% during the forecast period (2021-2026).

Due to COVID-19, there was a significant impact on the delivery of seeds from distribution centers to the farmers due to disruption in supply chains all over the country. However, safety protocols and various measures undertaken by the Pakistani government over the last couple of months have enabled the timely availability of seeds to farmers and growers amid the pandemic crisis prevailing in the country. The demand for seeds, especially in developing countries such as Pakistan, is still untapped and provides multinational corporations various opportunities for expansion and a wide customer base. The country is shifting toward the adoption of high-quality seeds due to the export potential of vegetable seeds from the global demographics. For instance, the adoption of high-yielding variants is on the rise in Pakistan due to the export potential. The rising investments in R&D of hybrid seeds are a key element to the success of the seed industry. The factors such as the alarming rate of decreasing arable land, increasing adoption of hybrid seeds, government subsidies, and new favorable policies are driving the seed sector in the country. However, rising concerns over water security, climate change, and dominance of the informal sector may lead to restraint in the seed market during the forecast period.

Key Market Trends

Increasing Adoption of Hybrid Seeds and Government Support are Driving the Market

The willingness and interest to grow hybrid crops are, to a large extent, governed by government legislation and policy. Pakistan is both a producer and importer of hybrid crops and products. Pakistan’s seed sector is dependent on two key regulations, the Seed Amendment Act of 2015 and the Plant Breeders Rights Act 2018. In 2016, the Pakistan National Assembly adopted the Plant Breeders’ Rights Act to encourage the development of new plant varieties and protect the rights of breeders of such varieties. The act provides protection for new plant varieties while at the same time respecting the right of farmers to save, use, exchange, and sell farm-saved seeds.

In 2019, the Variety Evaluation Committee (VEC) of the Rice of Pakistan Agriculture Research Council (PARC) recommended 12 new hybrids rice for commercial cultivation across the rice-growing areas of the country to promote the crop output. Hence, new technology is expected to increase the crop productivity of farmers in Pakistan and enable them to make the country self-sufficient in agriculture. Realizing the potential for immense growth, aided by favorable government policies, seed companies have shown keen interest in Pakistan. This is likely to enhance the growth of the seed sector in the country.

Grains and Cereals Seeds Occupies largest share in the Country

According to the FAO, the country cultivated rice in 3.0 million hectare of land, which produced 11.1 million metric ton of rice in 2019. The seed industry in Pakistan is hugely characterized by the informal sector, as uncertified seeds account for almost 80% of the total seed requirement in the country, as reported in a study by the International Food Policy Research Institute. Although development in the seed business has not been able to reach the desired level of output since the authorization of private seed enterprises, recent developments in the hybrid rice seed sector were monumental in driving the rice seed market. The farmer and labor costs in these countries are cheaper than in developed countries. This implies an opportunity to increase profit realization by bringing down the cost of production.

Competitive Landscape

Pakistan’s seed market is slightly fragmented with more domestic players. Bayer Crop Science Pakistan (Pvt.) Ltd, Four Brothers Group, ICI Pakistan Limited, and Ali Akbar Group are few players capturing attractive sales in the country. The greater market share of these players can be attributed to their large geographical presence and highly diversified product portfolios. These players focus on R&D, a large product portfolio, a wide geographical presence, and an aggressive acquisition strategy.

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