Market Size:
The global vegetable seeds market is expected to gain impetus from the increasing awareness regarding the benefits of consuming vegetables in developing and developed countries. The World Health Organization (WHO) declared that lower consumption of fruits and vegetables causes around 1.7 million deaths worldwide per year. This information is given by Fortune Business Insights™ in a published report, titled, “Vegetable Seeds Market Size, Share & COVID-19 Impact Analysis, By Type (Open Pollinated Varieties and Hybrids), Crop Type (Solanaceae, Root & Bulb, Cucurbit, Brassica, Leafy, and Others), Cultivation Method, and Regional Forecast, 2024 – 2032.”
The global vegetable seeds market size was USD 8.14 billion in 2023 and is projected to grow from USD 8.69 billion in 2024 to USD 15.03 billion by 2032, growing at a CAGR of 6.78% during the forecast period.
This Report Answers the Following Questions:
Which segment is likely to lead the market in the coming years?
Which company would generate the highest revenue in the future?
What are the predicted, historical, and current sizes of the market?
How will prominent firms surge sales of vegetable seeds amid COVID-19?
Drivers & Restraints-
Rising Inclusion of Vegetables in Diet to Propel Growth
Nowadays, various companies are developing vegetable hybrids to suit the requirements of farmers and consumers. Such vegetables possess a broad range of qualities, such as shelf-life, flavor, shape, color, yield, taste, nutrition, and adaptability. Hence, hybrid vegetable seeds are experiencing more popularity, as compared to the non-hybrid seeds.
Moreover, the rising inclusion of vegetables in one’s diet is helping to combat malnutrition. In many developing countries, the nutritional richness of vegetables is often considered to be a cost-effective remedy for nutritional deficiencies. However, climate change is a major issue for agricultural production worldwide. It may hamper the vegetable seeds market growth in the coming years.
Source: https://www.fortunebusinessinsights.com/vegetable-seed-market-103066
Segment-
Solanaceae Segment to Grow Rapidly Backed by Rising Investments by Key Companies
Based on crop type, the Solanaceae segment earned 41.88% in terms of vegetable seeds market share in 2019. This growth is attributable to the rising investments by reputed vegetable seeds manufacturers in developing premium-quality seeds, such as hybrid tomato. The segment mainly consists of pepper, eggplant, potatoes, and tomatoes.
Regional Analysis-
Asia Pacific to Remain at Forefront Backed by Expansion of Agriculture Industry
Geographically, in 2019, Asia Pacific procured USD 2.86 billion in terms of revenue. The region is set to retain its dominant position throughout the forthcoming years stoked by the increasing area under horticultural crops in the region. Apart from that, the expansion of the agriculture industry is set to contribute to this growth. India and China are the most significant countries that report high vegetable consumption and production.
Europe, on the other hand, is set to exhibit considerable growth backed by the increasing advancements in the field of breeding technologies. It will help in the development of high-quality vegetable seeds. In North America, the demand for the product is set to be high from Mexico and the U.S.
Competitive Landscape-
Key Players Focus on Acquisition Strategy to Gain a Competitive Edge
The market for vegetable seeds is consolidated owing to the rising number of mergers and acquisitions. Numerous multinational firms are investing hefty amounts of money in innovating brewing techniques to meet the increasing demand. Below are the latest industry developments:
April 2020: Sakata Seed America successfully acquired Vanguard Seed, a lettuce seed company headquartered in the U.S. to introduce a wide variety of lettuce in the market.
February 2019: Syngenta Flowers recently unveiled Vegetalis, its new vegetable portfolio. It contains high-performing herb and vegetable seeds.
A list of all the vegetable seeds manufacturers operating in the global market:
BASF SE- Germany
Bayer AG. – Germany
Syngenta AG – Switzerland
Groupe Limagrain- France
Rijk Zwaan Zaadteelt en Zaadhandel B.V- Netherlands
Sakata Seed Corporation- Japan
Takii & Co., Ltd- Japan
Enza Zaden BV- Netherlands
East-West Seed- Thailand
Bejo Zaden B.V.- Netherlands