Market Size of Bangladesh Seed Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 260.93 Million |
| Market Size (2029) | USD 324.82 Million |
| CAGR (2024 - 2029) | 6.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bangladesh Seed Market Analysis
The Bangladesh Seed Market size is estimated at USD 260.93 million in 2024, and is expected to reach USD 324.82 million by 2029, growing at a CAGR of 6.5% during the forecast period (2024-2029).
- Despite population density, Bangladesh highly depends on agriculture for food security and employment. According to FAO statistics, more than 50% of the population is dependent employed in agriculture, with more than 70 percent of its land dedicated to growing crops. The major crops grown in the country are rice, jute, wheat, tea, pulses, oilseeds, vegetables, and fruits. The high arable land under agriculture is increasing the demand for seeds.
- Though the public sector dominates the self-pollinating seed crops like rice, wheat, pulses, oilseed, and horticultural crops, private players play a significant role in supplying maize and other hybrid seeds.
- Furthermore, according to the FAO, Bangladesh leads vegetable production globally, increasing yearly. The seed industry of Bangladesh comprises both the public and private sectors. Bangladesh Agricultural Development Corporation (BADC), Bangladesh Agricultural Research Institute (BARI), Bangladesh Rice Research Institute (BRRI), Bangladesh Jute Research Institute (BJRI), and the Department of Agricultural Extension (DAE) are some government agencies responsible for the production and supply of commercial seeds in the market. Therefore, the high dependency on agriculture coupled with the domination of both public and private sectors is increasing the demand for grains in Bangladesh.
