1. Home
  2. > Agriculture
  3. > Agricultural Products Market Trends
Vegetable Seed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Vegetable Seed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • August 2022
  • 214 pages
  • ID: 6311661
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

The vegetable seed market is projected to register a CAGR of 4.8% during the forecast period, 2022-2027. Most companies in the Asia-Pacific region reported a negative effect on the demand and sale of sowing seeds for all crops amid the spread of the COVID-19 pandemic. The innovation and new product development came to a standstill as the R&D departments of many companies were non-functioning due to the hindrance owing to the lack of working staff and accommodation facilities for the researchers at the place of field research. In India, with restricted operations of ports and testing labs, the import of high-quality vegetable seeds has been significantly impacted, forcing farmers to opt for low-quality seeds. However, in mid-2020, an uptake in demand for small seed packs for growing in the garden was observed. A similar trend was observed in other parts of the world as well.

Asia-Pacific is identified to be the fastest-growing market. The demand for vegetable seeds, especially in developing countries such as China and India, is still untapped, and this provides multinational companies various opportunities for expansion and to widen their customer base. Countries are shifting toward the adoption of high-quality seeds due to the export potential of vegetable seeds in the global market.

The increasing awareness among the farmers related to the benefits of using certified/quality seeds, thereby increasing the demand for developed quality certified seeds over the past few years. This rise increased the farmers’ willingness to pay a higher price for quality seeds. The need to produce more from the decreasing per capita arable land to get higher returns was made possible using HYVs and hybrid varieties. This trend is encouraging farmers over the long term to shift their focus from conventional seed sources to packaged seeds that promise better returns.?

Vegetable seed companies are using biotechnology tools to develop varieties with improved agronomic performance, adaptability to climatic conditions, disease and pest resistance, and adaptability to different market segments, like fresh consumption or processing. Increasing investments in the vegetable seed market by prominent companies are intensifying the growth of the seed market. Therefore, the investors in developing countries are looking for IPOs from the seed industry. ?Therefore, the market is anticipated to achieve significant growth in the coming years.

Key Market Trends

Rising Innovations in Seed Technology

The advancements in seed technology led to the exploration of agricultural sources and the development of genetically modified seeds, hybridization rates, and many others, improving the seed industry’s prosperity. The major influential factors for implementing and developing such hybrid and GM seeds are the increased urbanization and population, driving the demand for vegetables globally.

Genetically modified (GM) seeds help multiply crop yield and aid in cultivating robust crop variations. The adoption of the gene modification process in GM seeds is helping in better crop yield, driving the GM seed market. In 2017, Monsanto invented and marketed genetically modified seeds that make a crystalline insecticidal protein from Bacillus thuringiensis, known as Bt. Emerging trends, such as the increasing adoption of drought-tolerant biotech crops and the growing demand for high-yield crops, directly impact the dynamics of the genetically modified seed industry.

Although GM technology in several countries, such as the Philippines, is banned from commercial release, the records show that it proved itself the fastest-adopted technology in agriculture.? The need to produce more from the decreasing per capita arable land to get higher returns can be possible with HYVs and hybrid varieties. These physical seed enhancements are an alternative approach to other chemical seed invigoration treatments, which provide a better solution for the growing seed market.

Asia-Pacific is the Fastest-Growing Market

The demand for fresh vegetables has been spurred by health-conscious consumers across the region. As agricultural land faces constraints, urban agriculture, such as indoor farming and vertical farming practices, has been scaling up its operations to address the shortage of domestically grown vegetables. ?The vegetable seed market in China is the second-largest in the world, after the United States, and accounts for 21.0% of the global market share. A total of 6,665 new vegetable varieties were registered by vegetable seed companies in China in 2017. The country requires almost 400,000.0 metric tons of vegetable seeds annually to fulfill its vegetable requirements.

Further, according to the Indian Council of Agricultural Research, increasing awareness regarding the consumption of vegetables to meet various dietary requirements and nutritional needs raised the demand for fresh vegetables, consequently leading to an increase in the area of vegetable production in the country to 10.3 million hectares in 2017 from 10.1 million hectares in 2016. ??In India, most vegetable seed companies are focused on the production of tomatoes, cabbage, eggplant, chili, okra, and cucumber seeds. Increasing demand for processed vegetables in domestic households and the food service industry has been boosting the vegetable seed industry in Japan. As per USDA, the annual consumption of frozen food, including frozen vegetables in Japan, stood at 22.5 kilograms in 2017, increasing 4.8% from the previous year. Monsanto, Syngenta, Pioneer, BioSeed, Pacific Seeds (Advanta), Clause (Limagrain), Bayer, East?West Seed, ChiaTai, Seed Asia, Advance Seed, Vanda Seed, and Dynamic Seed are the major multinational vegetable seed companies operating in Thailand, occupying around 70% of the market share in the Thai vegetable seed industry. Therefore, the increasing demand for organic vegetables and growing competition between the companies are anticipated to drive the vegetable seed during the forecast period.

Competitive Landscape

The Global Vegetable seed market is consolidated, with major players holding a share of 67.9% of the market and others accounting for 32.1% of the total shares. The top players in the market include Bayer Cropscience AG, Groupe Limagrain, Syngenta AG, Rijk Zwaan Zaadteelt En Zaadhandel BV, BASF SE, Enza Zaden BV, and Sakata Seed Corporation. The companies are majorly involved in mergers and acquisitions (M&A) and new developments of hybrid varieties of vegetable seeds in various regions.? Most companies are concentrating on hybrid vegetable seeds, which are largely backed by patents.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

ref:plp2022

Reportlinker.com © Copyright 2023. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on