Share
Vegetable Seeds Market Segmented: by Product Type (Leafy, Cucurbit Vegetables, Brassica, Solanaceous Vegetables, Root & Bulb); by activity (Indoor and Outdoor); by Region (North America, Asia-pacific, Europe, Latin America and Middle-East and Africa) - Analysis of market share, size & trends for 2016-19 and forecasts to 2030.
Vegetable Seeds Market is anticipated to exceed USD $19.6 billion by 2030 from USD $6.7 billion in 2019 at a CAGR of 10.30% throughout the forecast period, i.e., 2020-30.
A vegetable seed is a developing plant that is surrounded by a shell. After fertilization with pollen and a certain growth inside the mother plant, a seed is the product of the mature ovule. After fertilization and cultivation, the final vegetable is used in commercial vegetable production. Seeds are the main and essential cultivation requirements and seed demand is important to assess. Cultivation is an important part of the survival of life and the cultivation of crops. As the world's demography is rising, there is a greater need for agriculture, as many people are helping with it.
The Vegetable Seeds Market is anticipated to exceed USD $19.6 billion by 2030 from USD $6.7 billion in 2019 at a CAGR of 10.30% throughout the forecast period, i.e., 2020-30. The global Vegetable Seed market is estimated to grow on the back of the following reasons. Growing demand for nutritious food, creative manufacturing methods, new technologies, and the emergence of agriculture development can be contributed to market growth. The demand for high-quality fruit and vegetables is anticipated to accelerate market share over the forecast timeframe as the seeds are an essential and crucial contribution to sustainable agriculture.
Source: Fatpos Global
Global Vegetable Seeds Market has been segmented based on technology, and by product type. It has been further segmented based on region into North America, Europe, Asia-Pacific, Mid East, and Africa.
The Outdoor segment is anticipated to register 10.30% of the volume share and is expected to grow at the highest CAGR.
Based on the activity the market is bifurcated into Indoor and Outdoor
Outdoor cultivation activities in countries such as India and China where agriculture is the primary sector and contribute to the maximum share of the country’s GDP are the reason for such segment growth. Moreover, the rising population and the need for an adequate supply of food lead to outdoor segment growth.
Increasing trends of indoor farming and growing activities of indoor cultivation in the modern era led to significant growth opportunities for the indoor segment. Moreover, increasing consciousness towards health has led to the growth of indoor cultivation activities, which in turn led to higher demand for vegetable seeds.
The solanaceous vegetables segment is anticipated to register XX% of the volume share and is expected to grow at the highest CAGR
Based on the product type the market is bifurcated into leafy, cucurbit vegetables, brassica, solanaceous vegetables, roots & bulbs.
This growth is mainly due to rising demand from end-user vertical for vegetables like onions, tomatoes, turnips, cabbages, etc. in emerging nations like India and China with high demography, thus leading to surging demand for food
The primary source of nutrients
Vegetable demand is rising due to an increase in the global population since it is one of the sources of essential nutrients. The growth of the market for vegetable seeds in the global population is anticipated to accelerate. It has been reported that the number of people taking up agriculture has increased. The growth of agriculture would fuel the growth of the market for vegetable seeds.
Alternative uses
The large demand for vegetables in different divisions of the food industry such as food processing, food services, bakery, and other industries has risen globally. Widespread use of vegetables across different food markets is anticipated to fuel growth in the industry. A greater understanding of vegetable consumption, food, and nutrition requirements, has led to an increased demand for plants. Changes in food habits are also anticipated to augment business growth.
Perishable good
The seeds have a limited shelf life and cannot be processed for the long term, hampering the growth of the vegetable seeds market. The seeds are perishable. Market growth is also hampered by the usage of spurious seed, which is not of the same source or growth and does not perform the same function but which looks like the original seed. False seeds would prevent the vegetable seeds market from growing.
Asia Pacific was the largest market accounting for XX% of the total market volume share in 2019
The global Vegetable Seed market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and the rest of the world are classified as Middle-East and Africa.
During the projected timeline, the market in the Asia Pacific is projected to see tremendous opportunities. The flourishing agricultural industry in India and China is responsible for the growth in the region. In the coming years, the market will witness lucrative opportunities due to growing awareness of the health benefits of vegetables having a huge impact on the market. The high production and consumption pattern of vegetables in India has provided a profitable share for the seed industry. During the projected timeframe, Europe's market is expected to experience huge demand as breeding technology developments are rapid. The production of quality plants is projected to make an important contribution to the growth of the market
Source: Fatpos Global
Enhancing global commitment to organic seeds explores new ways to extend their domestic and national reach in this market. Companies are also using government subsidies to strengthen their footprints in the market for producing seeds. The increasing consumption of vegetables in developing countries is projected to provide producers of hybrid vegetable seeds with profitable growth opportunities. To fulfill consumers' needs, the hybrid vegetable seed suppliers are focused on developing new varieties of compatible vegetables with innovative packaging and the creation of new products.
The COVID-19 epidemic has triggered the devastation of many businesses worldwide in the supply chain. Nevertheless, amidst the pandemic, the high demand for critical commodities would encourage healthy business growth. The outbreak of coronavirus has a lesser effect on the seed market as per the International Seed Federation (ISF) because it was regarded to maintain the supply of seed to the farmers as an essential commodity. Seed supply in many countries can easily build opportunities for the market to escape food shortages amid the coronavirus.
Bayer CropScience (Germany)
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