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The vegetable seeds market size is projected to increase by USD 4.65 billion, at a CAGR of 7.66% between 2023 and 2028
The market in APAC region experienced significant growth in 2023 and is poised for further expansion in the forecast period. This growth is attributed to increased private sector investments and a rising demand for fresh vegetables in the region. Countries like China and India, with high consumption of fresh vegetables, along with ongoing innovations in seed technology, contribute to the market's positive trajectory. APAC's adoption of genetically engineered traits, including single-pest-resistant varieties and herbicide-tolerant cultivars, is boosting vegetable plantation yields, benefiting farmers, and promoting agrobiodiversity. Notably, Bayer AG is a key player, offering vegetable grains under the brand name Nunhems, dedicated to developing market-oriented varieties and concepts for the professional vegetable production industry globally.
The market shows an accelerated CAGR during the forecast period.
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Focus on high-yielding varieties, leading to growing demand for GM seeds, is notably driving market growth. As the demand for vegetables and food crops rises, per capita arable land diminishes due to population growth and urbanization, prompting farmers to focus on innovative techniques for efficient food production. This has led to a growing necessity for genetically modified (GM) vegetable grains with extended shelf life, high quality, and pest resistance to optimize farmlands. Vendors continuously introduce hybrid and GM grains to address challenges arising from land shortages. Moreover, the increased demand for planting, classified food production and the rise in agricultural challenges have driven the adoption of high-quality, genetically engineered, and hybrid grains, with vendors investing in research and development to enhance seed quality.
Moreover, despite traditional grains maintaining a significant market share, the growing acceptance of biotech kernels among farmers, featuring improved productivity, disease resistance, and longer shelf life, is anticipated to fuel the market's growth. The cultivation of vegetables such as brassica leafy, and bulb cucurbit is aligning with the trend of healthy eating and nutritional richness, contributing to sustainable farming practices and diet in both organic and open-pollinated field cultivation, particularly in the Solanaceae family.
Increasing investments in agricultural research is an emerging trend shaping market growth. The increasing investments in agricultural research have been of prime importance, with major global private firms focusing on innovations in the agriculture sector. The advent of biotechnology, different scientific developments, and a huge expansion of the agricultural inputs market globally have been encouraging many private companies to invest in agricultural research. Commercial sales of GM vegetable grains have also increased manifold due to the various production benefits that these seeds offer to cultivators.
Moreover, most large-sized biotechnology companies invest over 15% or more of their annual product sales in vegetable seeds and biotechnology traits. These extensive investments aimed specifically at innovations and advancements of vegetable grains and biotechnology traits will be one of the major driving factors that will foster the growth of the market during the forecast period.
The availability of counterfeit vegetable seeds is a significant challenge hindering market growth. Widespread distribution of counterfeit vegetable grains and substandard seeds is seen in countries such as China, India, Kenya, and Uganda. Forged packaging and adulteration of seed shipments are the key concerns for the origins market in these countries. The use of fake grains results in crop failure and a reduction in the productivity of vegetables, leading to significant revenue and agricultural output losses. The market for counterfeit vegetable seeds is growing because of the low financial capability of farmers from developing countries and the rising costs of grains.
Further, several countries export these low-quality grains to cost-driven vendors at subsidized rates. This has induced a lack of trust among farmers in the local grains market as grains are failing to produce high-quality crops. Hence, the distribution of counterfeit, substandard grains will adversely affect the market during the forecast period.
The conventional vegetable seeds segment comprises the production and sale of vegetable grains that are obtained from vegetable cultivation using conventional agricultural practices, which may involve the use of synthetic pesticides, chemical fertilizers, and genetically modified organisms (GMOs). These vegetable grains are not certified as organic and may not meet the stringent standards imposed on organic or non-GMO products. The consumers of conventional vegetable grains prioritize affordability over the higher priced vegetable grains that have organic or non-GMO certification, as conventionally cultivated p vegetables and their grains are often more accessible and affordable to consumers, making them a popular choice in regions where organic or non-GMO products are not widely available or affordable. However, the conventional segment plays an important role in the market by offering a more affordable option for consumers and other end-users who may not be able to afford organic or non-GMO products. Thus, the conventional segment is expected to drive the market during the forecast period.
The market share growth by the inorganic segment will be significant during the forecast period. The inorganic segment is expected to grow significantly in the market during the forecast period. Inorganic kernels use fertilizers to promote growth, insecticides to decrease pests, and chemical herbicides to manage weeds that affect the growth of the vegetable plant. Inorganic grains are mostly grown on conventional farms and are easily available.
The inorganic segment was valued at USD 4.62 billion in 2018
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Moreover, the Inorganic vegetable seeds give higher yields, as these grains are better resistant to pests and diseases, which makes them more appealing to farmers. Climatic conditions have a greater ability to influence crop yields; erratic weather patterns and increasing frequency of extreme weather conditions can negatively affect crop yield. Using inorganic grain scans offer a better yield even in erratic weather conditions as these grains consist of greater ability of disease resistance and drought tolerance. Therefore, all such factors make inorganic vegetable grains the preferable choice to efficiently meet the great demand of the growing population, thereby driving the growth of the inorganic segment in the market during the forecast period.
APAC is estimated to contribute 37% to the growth of the global market during the forecast period
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional market trends and drivers influencing the market's trajectory throughout the forecast period. In addition, the demand for vegetable grains is expected to grow further as more people seek healthy and nutritious foods. Vegetables are rich in vitamins, minerals, fiber, and other nutrients which are essential for healthy living. The growing awareness regarding the health benefits associated with the consumption of vegetables further drives the growth of the market in the region. Such factors are expected to drive the growth of the regional market during the forecast period.
Companies 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 forecasting growth and analysis.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including: Akshay Seeds Pvt. Ltd., Bayer AG, Bejo Zaden B.V., DLF Seeds AS, East West Seed Group, Enza Zaden Beheer B.V., Gentex Seeds Pvt. Ltd., Kaveri Seeds, KWS SAAT SE and Co. KGaA, Limagrain, Mahyco Pvt. Ltd., Namdhari Seeds Pvt Ltd, Rijk Zwaan Zaadteelt en Zaadhandel BV, Sakata Seed Corp., Syngenta Crop Protection AG, Takii and Co. Ltd., UPL Ltd., VNR Seeds, W. Atlee Burpee and Co., and BASF SE
The market analysis and report of qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research and growth report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028
The global vegetable seeds market is experiencing a transformative shift driven by a growing emphasis on maintaining a balanced diet and incorporating essential nutrients to address health issues like obesity and eye-related problems. The market is witnessing an increasing demand for non-starchy vegetables such as lettuce and spinach, supporting weight management and promoting overall nutrition. Premium vegetable seeds play a crucial role in aligning with healthy eating trends, offering unique and specialty vegetables, including heirloom varieties and superfoods, catering to consumers' evolving preferences for organic produce and distinct flavor profiles. This shift towards healthier choices is evident not only among home gardeners but also in the practices of commercial farmers who are adopting organic and sustainable farming methods like agroecology, permaculture, and crop rotations.
Further, varied seed varieties designed for different climates and growing conditions, alongside advancements in agricultural technologies and modern seed varieties, address market accessibility challenges. However, seed patenting issues and the need for balancing efficiency in large-scale farming with traditional farming practices, including open-pollinated varieties and agricultural biodiversity, are considerations in the evolving market. Locally adapted vegetables, heirloom varieties like tomatoes, peppers, and eggplants, and cultivation methods such as protected and open field cultivation contribute to the market's sustainability and efficiency.
Market Scope |
|
Report Coverage |
Details |
Page number |
151 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.66% |
Market Growth 2024-2028 |
USD 4.65 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.05 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, Canada, China, France, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Akshay Seeds Pvt. Ltd., Bayer AG, Bejo Zaden B.V., DLF Seeds AS, East West Seed Group, Enza Zaden Beheer B.V., Gentex Seeds Pvt. Ltd., Kaveri Seeds, KWS SAAT SE and Co. KGaA, Limagrain, Mahyco Pvt. Ltd., Namdhari Seeds Pvt Ltd, Rijk Zwaan Zaadteelt en Zaadhandel BV, Sakata Seed Corp., Syngenta Crop Protection AG, Takii and Co. Ltd., UPL Ltd., VNR Seeds, W. Atlee Burpee and Co., and BASF SE |
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 |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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