Market Size of southeast asia seed Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2030 |
|
Market Size (2024) | USD 3.26 Billion |
|
|
Market Size (2030) | USD 4.19 Billion |
|
Largest Share by Breeding Technology | Open Pollinated Varieties & Hybrid Derivatives |
|
|
CAGR (2024 - 2030) | 4.29 % |
|
Largest Share by Country | Indonesia |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Southeast Asia Seed Market Analysis
The Southeast Asia Seed Market size is estimated at 3.26 billion USD in 2024, and is expected to reach 4.19 billion USD by 2030, growing at a CAGR of 4.29% during the forecast period (2024-2030).
3.26 Billion
Market Size in 2024 (USD)
4.19 Billion
Market Size in 2030 (USD)
4.28 %
CAGR (2017-2023)
4.29 %
CAGR (2024-2030)
Largest Market by Crop Family
74.30 %
value share, Grains & Cereals, 2023
Rice and corn are the major crops cultivated in the region. The increasing area under rice and corn cultivation, coupled with the higher adoption of hybrids in corn, drives the market.
Largest Market by Country
25.67 %
value share, Indonesia, 2023
Indonesia has the largest share due to the comparatively higher area under agricultural crops in the region, followed by high usage of hybrids and high seed replacement rate.
Fastest-growing Market by Crop Family
5.58 %
Projected CAGR, Brassicas, 2024-2030
It is the fastest growing due to the growing demand for carrots, cabbages, and broccoli from the consumers and processing industry and its adaptability to different environments.
Fastest-growing Market by Country
4.69 %
Projected CAGR, Vietnam, 2024-2030
It is the fastest growing segment due to the increasing corn cultivation owing to high demand and the government's support for domestic production to lower the imports.
Leading Market Player
2.43 %
market share, Bayer AG, 2022
Bayer AG is a prominent player in the region with its wider portfolio, which includes high-performance crop varieties that are suitable for local climatic conditions.
Open-pollinated varieties dominated the seed market due to higher area under rice cultivation in the region
- In Southeast Asia, open-pollinated varieties dominated the seed market, which accounted for 56.6% share in 2022. In 2022, out of the total open-pollinated seed market value, row crops accounted for 94.2% of the share, whereas vegetables accounted for 5.8% of the share. The high share of row crops is mainly due to the higher area under rice cultivation, where open-pollinated varieties are mainly cultivated in the region.
- The open-pollinated varieties require fewer inputs, such as fertilizer and pesticides, and are less expensive and more affordable for low-income farmers, reducing the reliance on hybrid seed imports. These factors are projected to drive the market during the forecast period.
- In 2022, hybrids accounted for a 43.4% share of the region's seed market. Hybrids have higher productivity, wider adaptability, and a high degree of resistance to biotic and abiotic stresses. For instance, in cotton, hybrids give 50% more yield than conventional varieties. The wider adaptability of hybrids is mainly due to their high buffering capacity to environmental fluctuations.
- The demand for organic produce is increasing primarily due to the health benefits, chemical usage avoidance, and the changing patterns of lifestyle and food consumption among people. Therefore, the demand for non-transgenic hybrids and open-pollinated seed varieties is expected to increase during the forecast period.
- In 2022, transgenic hybrids accounted for 6.9% share of the hybrid seed market. Among transgenic seeds, insect-resistant transgenic hybrids dominated the transgenic seed market as they have a share of 87.8% in 2022.
- Factors such as high resistance to diseases, biotic stresses, and demand for organic produce will help drive the commercial seed market in the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
Indonesia dominated the region's seed market due to higher area under cultivation and the rise in the usage of commercial seeds
- In 2022, Southeast Asia accounted for 14.3% of the Asia-Pacific seed market, which increased by 22.1% between 2017 and 2022. This is due to the higher adoption of commercial seeds, including hybrids, to meet the production demand in the region.
- In Southeast Asia, Indonesia dominated the seed market, accounting for a 25.9% share in 2022. The area harvested under grains and cereals in Indonesia was 6.1 million hectares in 2022. Corn is an important grain crop cultivated in the country, with an area of 3.3 million ha in 2022. The demand for corn is estimated to increase during the forecast period due to the growing demand from processing industries.
- The Philippines is one of the major seed markets in the region, which accounted for USD 759.6 million in 2022. The Philippines seed market was dominated by row crops, which accounted for 92.2%, and vegetable crops accounted for about 7.8% in terms of value in 2022. Row crops such as rice and corn are preferred in the country due to the suitable soil and climatic conditions and high marginal profits.
- In 2022, Thailand accounted for a 21.1% share of the Southeast Asian seed market. Rice is the major crop cultivated in the country. It accounted for 74.1% of the total cultivated area of cereals in the country in 2022. Rice seeds accounted for 66.1% of the country's seed market value in 2022. Rice seeds are the most demanded and widely produced in the country. Other major countries in the region are Vietnam and Myanmar, which accounted for an 18.0% share of the region's seed market in 2022.
- The increasing production and population, higher adoption of commercial seeds, and the demand from the processing industry are anticipated to boost seed segments in the Southeast countries during the forecast period.
