The global vegetable seed market is estimated to be valued at US$7,255 Mn in 2022 and is expected to exhibit a CAGR of 4.8% over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The market for vegetable seeds includes seeds of various vegetables such as tomatoes, peppers, cucumbers, onions, and carrots, among others. These seeds are used by farmers and home gardeners to grow vegetables for commercial and personal consumption, respectively. The increasing awareness about the health benefits of consuming fresh vegetables and the growing emphasis on sustainable agriculture are driving the demand for vegetable seeds. Moreover, the rising population and the need for food security are also fueling the growth of the vegetable seed market.
Market key trends:
One key trend impacting the vegetable seed market is the growing demand for organic vegetable seeds. With the increasing awareness about the harmful effects of chemical pesticides and fertilizers, consumers are opting for organic produce. This has led to a surge in the demand for organic vegetable seeds, as farmers are shifting towards organic farming practices. Organic vegetable seeds are free from genetically modified organisms (GMOs) and are produced using natural methods. This trend is expected to continue over the forecast period, driving the growth of the vegetable seed market.
Segment Analysis:
The vegetable seed market can be segmented based on seed type, crop type, and region. In terms of seed type, the market can be divided into conventional seeds and genetically modified (GM) seeds. Conventional seeds are the dominating segment in the market, accounting for the majority of the market share. This is mainly attributed to the widespread adoption of conventional seeds by farmers due to their affordability and easy availability. Additionally, conventional seeds are perceived to have fewer risks and regulatory hurdles compared to GM seeds.
On the basis of crop type, the vegetable seed market can be categorized into leafy vegetables, root vegetables, solanaceous vegetables, and others. Among these, leafy vegetables are the dominating sub-segment, primarily driven by the increasing demand for healthy and nutritious food products. Leafy vegetables such as spinach, lettuce, and kale are rich sources of vitamins and minerals, making them popular among health-conscious consumers. Moreover, leafy vegetables have a shorter maturity period, allowing farmers to have multiple harvests in a year, further driving the dominance of this sub-segment in the market.
Key Takeaways:
The global vegetable seed market is expected to witness high growth, exhibiting a CAGR of 4.8% over the forecast period of 2023-2030. This growth can be attributed to several factors. Firstly, the increasing population and changing dietary preferences towards healthy and organic food products are driving the demand for vegetable seeds. Additionally, the growing trend of urban farming and rooftop gardening is boosting the market growth as more individuals are cultivating vegetables in limited spaces.
From a regional perspective, Asia Pacific is the fastest-growing and dominating region in the vegetable seed market. This can be attributed to the large-scale agricultural activities in countries like China and India. Moreover, increasing government initiatives to promote sustainable agriculture and improve food security are further propelling the market growth in this region.
Key players operating in the vegetable seed market include Bayer CropScience AG, Groupe Limagrain, Syngenta AG, BASF SE (Nunhems BV), Rijk Zwaan Zaadteelt En Zaadhandel BV, Sakata Seed Corporation, UPL Limited (Advanta Seeds International), Takii & Co. Limited, East-West Seed International Ltd, Enza Zaden BV, Bejo Zaden BV, and Namdhari Seeds. These key players are focusing on product innovation, strategic partnerships, and expanding their distribution networks to gain a competitive edge in the market.
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https://www.newswirestats.com/the-vegetable-seed-market-is-estimated-to-witness-high-growth-owing/
