Seed Market in Ghana by Product Type, Crop Type, and Type - Forecast and Analysis 2023-2027

Published: Dec 2022 Pages: 125 SKU: IRTNTR74820

The Seed Market in Ghana is projected to increase by USD 14.98 million from 2022 to 2027. The market is estimated to grow at a CAGR of 4.9% between 2022 and 2027. In 2017 the market size was valued at USD 14.00 million.

The rising urban farming activities are a key factor driving the seed market growth in Ghana. Urban agriculture utilizes vacant community spaces such as backyards, rooftops, balconies, parking lots, and roadside spaces for crop cultivation. The growing popularity of urban farming projects such as the Ghana Peri-urban Vegetables Value Chain Project (GPVVCP) has increased public awareness about urban farming. Additionally, owing to its potential to contribute to household food security, urban agriculture has grown in prominence, especially over the last few years. 

This market is segmented by product type into conventional and genetically modified. The conventional segment will contribute 40% to the growth of the market. Conventional seeds include all open-pollinated and hybrid varieties of seeds developed naturally and not through modern biotechnology. Conventional seeds in farming are increasingly prevalent in African countries, including Ghana, owing to the surging demand for organically-produced seeds and crops. In addition, farmers are increasingly shifting away from the use of synthetic and chemical fertilizers owing to a growing demand for natural, organic produce and stringent regulatory and compliance requirements.

Seed Market in Ghana Market: Overview

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Key Trend and Challenge

The innovations in seed technology are notably driving the market growth, although factors such as rising seed prices is a major market challenge for the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.

Trends

The innovations in seed technology will be a major trend driving the seed market growth in Ghana. Manufacturers across the world are developing many innovative seed technologies to meet the increasing demand for food production. These technologies are developed to improve production yields and nutrition profiles, lower the costs of production, and offer value-added traits. Innovative seed technologies are tested to be in tandem with ongoing global trends. The cultivation of GM seeds provides better quality and high resistance to pests and insects.

Private seed companies in Africa, including Ghana, are working to come up with a new herbicide-coated maize seed variety to help the seed gain resistance against Striga, which is a parasitic weed responsible for infesting up to 50 million hectares of Sub-Saharan African land. KSC sells StrigAway through a partnership with Feed the Future and the African Agricultural Technology Foundation (AATF). These developments in seed technologies are expected to pave the way for the development of seed standards and drive the growth of the global seeds market during the forecast period.

Challenge

The rising seed prices will be a major challenge for the seed market share growth in Ghana. Seed breeding is an expensive process, which increases the cost of seeds. Players in the seed market in Ghana are investing more in breeding seeds with advanced traits or genes that are sourced from Genentech companies. However, the use of advanced technology for cultivation increases the cost of seeds. For instance, Monsanto increases the overall prices of its seeds by 5%-10% every year to provide seeds with modified traits at premium prices. The costs of commercialization for these products with international legal protection also increase seed costs.

Moreover, the advent of genetically engineered crops has corresponded to an increased state of seed monopolization by huge biotechnology companies, thereby resulting in higher seed costs. This has gradually pushed conventional and non-GM seeds out of the market, thereby reducing farmers' options. Vendors that have a stronghold over the market can determine the prices of seeds. The agricultural inputs sector has also been witnessing concentration, further adding to farmers' woes, which, in turn, will hamper the growth of the seed market in Ghana during the forecast period.

Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Seed Market in Ghana Customer Landscape

Vendor Overview

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

  • Key Offering - Agriseeds offers maize, soybean, sugar bean, sorghum, and vegetable seeds. 
  • Key Offering - Cargill offers high-quality seeds.
  • Key Offering - Limagrain offers field seeds and vegetable seeds.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Corteva Inc.
  • Groupe Limagrain Holding
  • M&B Seeds and Agricultural Services Ltd.
  • Meridian Seeds and Nurseries Ghana Ltd.
  • Rijk Zwaan Zaadteelt en Zaadhandel BV
  • RMG Ghana Ltd.
  • Seed Co Group
  • Syngenta Crop Protection AG

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Seed Market Segmentation in Ghana by Crop Type

The seed market segmentation in Ghana by crop type consists of cereals and grains, fruits and vegetables, oilseeds and pulses and others. Ghana is among the key producers of cereal crops, including rice, corn, barley, and wheat. The demand for cereal crops, such as rice and wheat, is high in Ghana, as these are important sources of carbohydrates in the form of starch. Apart from being the primary source of carbohydrates, grains, such as rice and wheat, contains significant levels of a variety of nutrients, including protein, vitamins, soluble fibre, and phytochemicals, which are essential or beneficial to health. Therefore, the rising population and cereal crop production of Ghana has increased the need for improved seed products, forcing vendors in investing on research and development (R&D) to produce seeds with high-quality traits that will improve yield gains. Such factors are estimated to propel the growth of the cereals and grains segment of the seed market in Ghana during the forecast period.

Seed Market Segmentation in Ghana by Product Type

The seed market segmentation in Ghana by product type consists of conventional and genetically modified. The market share growth by the conventional segment will be significant during the forecast period. The conventional segment has been the largest growing product segment of the seed market in Ghana owing to the presence of allergens in other types of seeds, including GM seeds. Conventional seeds include all open-pollinated and hybrid varieties of seeds developed naturally and not through modern biotechnology.

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The conventional segment was valued at USD 36.65 million in 2017 and continue to grow by 2021. Conventional seeds in farming are increasingly prevalent in African countries, including Ghana, owing to the surging demand for organically-produced seeds and crops. In addition, farmers are increasingly shifting away from the use of synthetic and chemical fertilizers owing to a growing demand for natural, organic produce and stringent regulatory and compliance requirements. Such regulations are estimated to increase the demand for conventional seeds in Ghana, which, in turn, will prompt the growth of the market during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • Product Type Outlook (USD Million, 2017 - 2027)
    • Conventional
    • Genetically modified
  • Crop Type Outlook (USD Million, 2017 - 2027)
    • Cereals and grains
    • Fruits and vegetables
    • Oilseeds and pulses
    • Others
  • Type Outlook (USD Million, 2017 - 2027)
    • Herbicide-tolerance (HT)
    • Insect-resistance (IR)
    • Others

Seed Market in Ghana Scope

Report Coverage

Details

Page number

125

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.9%

Market growth 2023-2027

USD 14.98 million

Market structure

Fragmented

YoY growth 2022-2023(%)

4.11

Regional analysis

Ghana

Competitive landscape

 Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Agriseeds Pvt Ltd., Cargill Inc., Corteva Inc., Groupe Limagrain Holding, M&B Seeds and Agricultural Services Ltd., Meridian Seeds and Nurseries Ghana Ltd., Rijk Zwaan Zaadteelt en Zaadhandel BV, RMG Ghana Ltd., Seed Co Group, and Syngenta Crop Protection AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Seed Market in Ghana Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the seed market in Ghana between 2023 and 2027
  • Precise estimation of the size of the seed market in Ghana size and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behaviour
  • Growth of the market industry across Ghana
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of the seed market in Ghana vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Product Type
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Crop Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 08: Parent market
    • Exhibit 09: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 10: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 11: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 12: Chart on Ghana - Market size and forecast 2022-2027 ($ million)
      • Exhibit 13: Data Table on Ghana - Market size and forecast 2022-2027 ($ million)
      • Exhibit 14: Chart on Ghana: Year-over-year growth 2022-2027 (%)
      • Exhibit 15: Data Table on Ghana: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Seed market in Ghana 2017 - 2021
      • Exhibit 16: Historic Market Size – Data Table on Seed market in Ghana 2017 - 2021 ($ million)
    • 4.2 Product Type Segment Analysis 2017 - 2021
      • Exhibit 17: Historic Market Size – Product Type Segment 2017 - 2021 ($ million)
    • 4.3 Crop type Segment Analysis 2017 - 2021
      • Exhibit 18: Historic Market Size – Crop type Segment 2017 - 2021 ($ million)
    • 4.4 By Type Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – By Type Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 20: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 21: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 22: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 23: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 24: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 25: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 26: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product Type

    • 6.1 Market segments
      • Exhibit 27: Chart on Product Type - Market share 2022-2027 (%)
      • Exhibit 28: Data Table on Product Type - Market share 2022-2027 (%)
    • 6.2 Comparison by Product Type
      • Exhibit 29: Chart on Comparison by Product Type
      • Exhibit 30: Data Table on Comparison by Product Type
    • 6.3 Conventional - Market size and forecast 2022-2027
      • Exhibit 31: Chart on Conventional - Market size and forecast 2022-2027 ($ million)
      • Exhibit 32: Data Table on Conventional - Market size and forecast 2022-2027 ($ million)
      • Exhibit 33: Chart on Conventional - Year-over-year growth 2022-2027 (%)
      • Exhibit 34: Data Table on Conventional - Year-over-year growth 2022-2027 (%)
    • 6.4 Genetically modified - Market size and forecast 2022-2027
      • Exhibit 35: Chart on Genetically modified - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Data Table on Genetically modified - Market size and forecast 2022-2027 ($ million)
      • Exhibit 37: Chart on Genetically modified - Year-over-year growth 2022-2027 (%)
      • Exhibit 38: Data Table on Genetically modified - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Product Type
      • Exhibit 39: Market opportunity by Product Type ($ million)

    7 Market Segmentation by Crop Type

    • 7.1 Market segments
      • Exhibit 40: Chart on Crop Type - Market share 2022-2027 (%)
      • Exhibit 41: Data Table on Crop Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Crop Type
      • Exhibit 42: Chart on Comparison by Crop Type
      • Exhibit 43: Data Table on Comparison by Crop Type
    • 7.3 Cereals and grains - Market size and forecast 2022-2027
      • Exhibit 44: Chart on Cereals and grains - Market size and forecast 2022-2027 ($ million)
      • Exhibit 45: Data Table on Cereals and grains - Market size and forecast 2022-2027 ($ million)
      • Exhibit 46: Chart on Cereals and grains - Year-over-year growth 2022-2027 (%)
      • Exhibit 47: Data Table on Cereals and grains - Year-over-year growth 2022-2027 (%)
    • 7.4 Fruits and vegetables - Market size and forecast 2022-2027
      • Exhibit 48: Chart on Fruits and vegetables - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Data Table on Fruits and vegetables - Market size and forecast 2022-2027 ($ million)
      • Exhibit 50: Chart on Fruits and vegetables - Year-over-year growth 2022-2027 (%)
      • Exhibit 51: Data Table on Fruits and vegetables - Year-over-year growth 2022-2027 (%)
    • 7.5 Oilseeds and pulses - Market size and forecast 2022-2027
      • Exhibit 52: Chart on Oilseeds and pulses - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Data Table on Oilseeds and pulses - Market size and forecast 2022-2027 ($ million)
      • Exhibit 54: Chart on Oilseeds and pulses - Year-over-year growth 2022-2027 (%)
      • Exhibit 55: Data Table on Oilseeds and pulses - Year-over-year growth 2022-2027 (%)
    • 7.6 Others - Market size and forecast 2022-2027
      • Exhibit 56: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 58: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 59: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.7 Market opportunity by Crop Type
      • Exhibit 60: Market opportunity by Crop Type ($ million)

    8 Market Segmentation by Type

    • 8.1 Market segments
      • Exhibit 61: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 62: Data Table on Type - Market share 2022-2027 (%)
    • 8.2 Comparison by Type
      • Exhibit 63: Chart on Comparison by Type
      • Exhibit 64: Data Table on Comparison by Type
    • 8.3 Herbicide-tolerance (HT) - Market size and forecast 2022-2027
      • Exhibit 65: Chart on Herbicide-tolerance (HT) - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Data Table on Herbicide-tolerance (HT) - Market size and forecast 2022-2027 ($ million)
      • Exhibit 67: Chart on Herbicide-tolerance (HT) - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on Herbicide-tolerance (HT) - Year-over-year growth 2022-2027 (%)
    • 8.4 Insect-resistance (IR) - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Insect-resistance (IR) - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on Insect-resistance (IR) - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on Insect-resistance (IR) - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Insect-resistance (IR) - Year-over-year growth 2022-2027 (%)
    • 8.5 Others - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 8.6 Market opportunity by Type
      • Exhibit 77: Market opportunity by Type ($ million)

    9 Customer Landscape

    • 9.1 Customer landscape overview
      • Exhibit 78: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 79: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 80: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 81: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 82: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 83: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 84: Matrix on vendor position and classification
            • 12.3 Agriseeds Pvt Ltd.
              • Exhibit 85: Agriseeds Pvt Ltd. - Overview
              • Exhibit 86: Agriseeds Pvt Ltd. - Product / Service
              • Exhibit 87: Agriseeds Pvt Ltd. - Key offerings
            • 12.4 Cargill Inc.
              • Exhibit 88: Cargill Inc. - Overview
              • Exhibit 89: Cargill Inc. - Product / Service
              • Exhibit 90: Cargill Inc. - Key news
              • Exhibit 91: Cargill Inc. - Key offerings
            • 12.5 Corteva Inc.
              • Exhibit 92: Corteva Inc. - Overview
              • Exhibit 93: Corteva Inc. - Business segments
              • Exhibit 94: Corteva Inc. - Key news
              • Exhibit 95: Corteva Inc. - Key offerings
              • Exhibit 96: Corteva Inc. - Segment focus
            • 12.6 Groupe Limagrain Holding
              • Exhibit 97: Groupe Limagrain Holding - Overview
              • Exhibit 98: Groupe Limagrain Holding - Business segments
              • Exhibit 99: Groupe Limagrain Holding - Key offerings
              • Exhibit 100: Groupe Limagrain Holding - Segment focus
            • 12.7 M Seeds and Agricultural Services Ltd.
              • Exhibit 101: M Seeds and Agricultural Services Ltd. - Overview
              • Exhibit 102: M Seeds and Agricultural Services Ltd. - Product / Service
              • Exhibit 103: M Seeds and Agricultural Services Ltd. - Key offerings
            • 12.8 Meridian Seeds and Nurseries Ghana Ltd.
              • Exhibit 104: Meridian Seeds and Nurseries Ghana Ltd. - Overview
              • Exhibit 105: Meridian Seeds and Nurseries Ghana Ltd. - Product / Service
              • Exhibit 106: Meridian Seeds and Nurseries Ghana Ltd. - Key offerings
            • 12.9 Rijk Zwaan Zaadteelt en Zaadhandel BV
              • Exhibit 107: Rijk Zwaan Zaadteelt en Zaadhandel BV - Overview
              • Exhibit 108: Rijk Zwaan Zaadteelt en Zaadhandel BV - Product / Service
              • Exhibit 109: Rijk Zwaan Zaadteelt en Zaadhandel BV - Key offerings
            • 12.10 RMG Ghana Ltd.
              • Exhibit 110: RMG Ghana Ltd. - Overview
              • Exhibit 111: RMG Ghana Ltd. - Product / Service
              • Exhibit 112: RMG Ghana Ltd. - Key offerings
            • 12.11 Seed Co Group
              • Exhibit 113: Seed Co Group - Overview
              • Exhibit 114: Seed Co Group - Product / Service
              • Exhibit 115: Seed Co Group - Key offerings
            • 12.12 Syngenta Crop Protection AG
              • Exhibit 116: Syngenta Crop Protection AG - Overview
              • Exhibit 117: Syngenta Crop Protection AG - Business segments
              • Exhibit 118: Syngenta Crop Protection AG - Key offerings
              • Exhibit 119: Syngenta Crop Protection AG - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 120: Inclusions checklist
                • Exhibit 121: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 122: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 123: Research methodology
                • Exhibit 124: Validation techniques employed for market sizing
                • Exhibit 125: Information sources
              • 13.5 List of abbreviations
                • Exhibit 126: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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