Vegetable Seed Market Size and Growth
The market size for vegetable seeds market amounted to US$7.55 billion in 2023, with projections indicating an increase to US$11.78 billion by 2030. This growth is anticipated at a compound annual growth rate (CAGR) of 6.56% between 2024 and 2030.
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A balanced diet rich in diverse vegetables is essential for overall health and combating obesity and eye problems. Non-starchy vegetables, such as lettuce and spinach, contribute to weight loss. Consequently, the demand for vegetables surges to meet diverse dietary needs. Farmers globally seek premium seeds for cultivation to address this demand, making vegetable seeds the third-largest segment in the seed industry.
Factors like rising food demand, innovative production techniques, product diversification, and agricultural modernization fuel the expansion of the vegetable seed market. Growth in health awareness among consumers and the food industry contributes to the rise of hybrid vegetable seed demand. With the global population increasing, there’s a surge in vegetable demand, prompting commercial seed growers to invest continually in production facilities emphasizing the quality and sustainability of hybrid vegetable seeds.
Rising private sector investments and growing demand for fresh vegetables propel the vegetable seed market. Advancements in seed technology and crop variety availability also drive market expansion. Additionally, favorable government policies are expected to boost market growth further.
Government Policy within Asia Pacific
In January 2023, the Indian Government sanctioned the Indian Seed Cooperative Society Limited (BBSSL). BBSSL promptly finalized its training and merged Primary Agricultural Credit Societies (PACS) into seed production. PACS-aided farmers produce certified seeds, which BBSSL brands and distributes worldwide, enhancing agricultural outreach.
In Sept 2023, the certification drive is a component of ongoing efforts by central authorities to revitalize the Chinese seed industry and enhance the competitiveness of Chinese seed products globally. The top legislature published the final amendment to the Seed Law in Dec 2021, taking effect in March 2022.
In Feb 2023, MAFRA unveiled the “Strategy to Foster the Green Bio-Industry” to boost the growth of Japan’s green bio sector. This initiative aims to elevate the value of the country’s agricultural and food industries’ value, foster domestic market expansion, boost exports, and nurture global unicorn companies.
North America Vegetable Seeds Market
The North American seed market expands chiefly due to population growth, higher demand for animal feed, and increased need for commodities like vegetable oil. Biofuels also contribute to market growth. However, concerns over G.M. product safety, reduced international trade in vegetable and fruit seeds, and market consolidation restrain the industry’s growth.
The United States seeds market is heavily influenced by digital technology in agriculture. Farmers and food producers benefit from enhanced productivity with the increasing adoption of Internet of Things devices and analytics. The U.S. holds substantial market shares in meat substitutes and sports nutrition. Soybean production in 2021 reached a record 4.44 billion bushels, marking a 5.0% increase from 2020, reflecting growing demand for soybean seeds in the country, as reported by the USDA.
Canada is globally renowned for its leading role in producing, processing, and exporting high-quality seeds across various crops, contributing significantly to the economy and creating numerous jobs. The sector thrives on innovation, employing advanced technologies with substantial annual seed research and development investments. The Canadian Seed Trade Association forecasts a considerable increase in total research investment to $179 million by 2022, representing a 56 percent rise since 2012. In January 2023, AAFC established the industry-Government Technical Committee on Plant Breeding Innovation Transparency to enhance transparency regarding products of plant breeding innovation.
Global Vegetable Seeds Market Company News
BASF A.G., Syngenta AG, Groupe Limagrain, Bayer AG, Sakata Seeds Corporation, UPL Limited, Gansu Dunhuang Seeds Co. Ltd, and J.K. Agri Genetics Ltd are prominent seed companies.
March 2023, RijkZwaan launched RijkZwaan Next Generation, a vegetable seed brand designed specifically for today’s growers.
In April 2023, Takii Seeds unveiled Takii Future, a disease-resistant and high-yielding vegetable seed brand.
In July 2023, Syngenta introduced Nuseed, a global vegetable seed brand tailored to meet growers’ requirements.
Type – Market breakup in 2 viewpoints:
1. Open Pollinated Varities
2. Hybrid
Crop Type – Market breakup in 6 viewpoints:
1. Solanaceae
2. Root & Bulb
3. Cucurbut
4. Brassica
5. Leafy
6. Others
Cultivation Method – Market breakup in 2 viewpoints:
1. Protected
2. Open Field
Country – Market breakup of 25 Countries covered in the Report:
1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
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All the Key players have been covered from 3 Viewpoints:
• Overview
• Recent Development
• Revenue Analysis
Company Analysis:
1. BASF A.G.
2. Syngenta AG
3. Groupe Limagrain
4. Bayer AG
5. Sakata Seeds Corporation
6. UPL Lmt.
7. Gansu Dunhuang Seeds Co., Ltd.
8. JK Agri Genetics Ltd.
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