Thailand Seed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Thailand Seed Market is segmented by Crop Type (Field Crops, Fruit and Vegetables, and Other Crops) and Product Type (Hybrid Seeds, Varietal Seeds, and Other Product Types). The report offers the market size and forecasts in terms of value in USD thousand for all the above segments.

Market Snapshot

Thailand Fertilizers Market Bar Graph
Study Period: 2017-2027
Base Year: 2021
CAGR: 5.4 %

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Market Overview

The Thai seed market was at USD 682.8 million in 2020, and it is anticipated to register a CAGR of 5.8% during the forecast period (2022-2027).

In order to deal with the COVID-19 pandemic, several restrictions were put in place in Thailand initially to contain the virus from spreading. However, the government implemented various strategies to maintain food security and the availability of labor in the country. Hence, the Thailand seeds market is assessed to observe a moderate impact of the COVID-19 epidemic in 2021.

The favorable factors making Thailand an attractive hub for seed production are suitable geography and weather, which ensures seed production all year, skilled farmers, infrastructure, rising investments in the seed sector by foreign agencies, and excellent connectivity. Thailand’s maize seed industry is one of the most developed and advanced compared to other developing countries because country’s programs of public and international organizations, namely (CIMMYT, USAID, and Rockefeller Foundation) established the infrastructure for research and promoting the role of the private sector and long-term investments in research and development by private companies accelerated the expansion of the industry.

The Thai seed industry is among the most well-established in the Asia-Pacific region. Many organizations, including the Thai Seed Trade Association and the Seed Association of Thailand, along with the Ministry of Agriculture, are working toward developing Thailand into a seed production hub. In 2017, a partnership was established between East-West Seed Company and the Thai government to invest in R&D activities for the development of new varieties of quality seeds and cultivars for producing quality output.

Scope of the Report

The Thai seed market is segmented by crop type (field crops, fruit and vegetables, and other crops) and product type (hybrid seeds, varietal seeds, and other product types). The report offers the market size and forecasts in terms of value in USD thousand for all the above segments.

Crop Type
Field Crops
Rice
Maize
Other Crop Types
Fruits and Vegetables
Other Crops
Product Type
Hybrid Seeds
Varietal Seeds
Other Product Types

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Key Market Trends

Rising Investments in the Seed Sector Driving the Seed Export Market

The Thai seed industry is among the most well-established in the Asia-Pacific region. Over the past few years, foreign investment, especially for the R&D of new varieties, and hybrid seeds, has immensely increased in the country. In 2020, Syngenta crop protection company and Mahidol University signed cooperation to develop the bee love project to conserve the biodiversity of bees and pollinators. In 2017, a partnership was established between East-West Seed Company and the Thai government to invest in R&D activities for the development of new varieties of quality seeds and cultivars for producing quality output. In 2018, HM Clause inaugurated its new R&D station in Khon Kaen, Northeast Thailand. The station supports breeding for hot and humid markets of the world for tomato, hot pepper, cucumber, watermelon, melon, and tropical sweet corn. The Government of Thailand also contributes to seed business development by offering incentives to increase investments in the seed sector and corporate income tax exemption for qualified investors investing in conventional plant breeding, and import duty exemptions for machinery and raw materials. Enhancing the seed export potential (mainly for maize and vegetables) and providing Thai farmers with quality seeds are the main strategies that have been adopted to achieve this aim. Thus, this is further expected to enhance the Thailand seed sector.

maize seed export

Rice Dominates the Thai Seed Market

Thailand is among the leading supplier of rice in the South Asia region. Thai rice is renowned for its quality, including white rice and Thai fragrant or jasmine rice. White rice is primarily produced in the Central Region, whereas jasmine rice predominates in the Northeast Region. The northern region contains almost one-third of the land area of Thailand. According to the FAO, the rice production in Thailand was recorded at 32.4 million metric tons in 2018 and which decreased in 2020 to 30.2 million metric tons due to the pandemic. The unfavorable weather conditions in the country, such as floods and drought, are the major constraint to rice production in Thailand.

At present, the Thai rice market is dominated by Open Pollinated Varieties (OPVs). However, the combined efforts of the government and the private companies in Thailand are expected to boost the hybrid seed market in the country in the coming years. Recently, in 2020, the new high-yield soft variety of rice called RD 79, or Kor Khor 79, was introduced by the Rice Department, Thailand. RD79 has been designed to resist disease and tolerate drought better than the country’s traditional grains. Furthermore, Thailand is planning to develop 12 new commercial rice varieties by 2024, namely, four are hard-texture grains, four are soft texture, two are Thai fragrant rice, and two are high-nutrition types to boost export competitiveness and reclaim their position as the rice export champion. Hence, the development of new rice varieties is expected to bridge the yield gap in the country and secure the place of Thailand as a leading rice supplier.

thailand-seed-market

Competitive Landscape

The Thai seed market is moderately concentrated, with the major players constituting a share of around 40-45% in 2021. While only a small number of seed companies in Thailand conduct their R&D, their investments have driven competition in the market for higher-quality varieties. Some of the key leading companies are East-West Seed (Thailand) Co. Ltd, Chia Tai Co. Ltd, Syngenta Thailand, Pacific Seeds (Thai) Ltd, and Pioneer Hi-Bred (Thailand) Co. Ltd (Bayer AG).

Recent Developments

On February 21, 2022, Chia Tai farm launched two premium Japanese melon varieties which were declared the King of Melon in Thailand, namely Aiko and Mori san.

On September 15, 2021, Chia Tai launched Thailand’s first virus-tolerant pumpkin variety, namely “Thong Siam Pumpkin,” which has a more effective tolerance to squash Leaf curl China virus and produces higher A-grade outputs.

In 2020, Chia Tai seed business introduced its modernized seed repackaging under the brand 'CHIA TAI SEED,' quality seeds for professional farmers. This product repackaging aims to increase the ability of the Chia Tai seed business to compete at the international level in a bid to attain a leading position in regional seed markets, highlighting its strong points in innovative agriculture and quality products and services.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Crop Type

      1. 5.1.1 Field Crops

        1. 5.1.1.1 Rice

        2. 5.1.1.2 Maize

        3. 5.1.1.3 Other Crop Types

      2. 5.1.2 Fruits and Vegetables

      3. 5.1.3 Other Crops

    2. 5.2 Product Type

      1. 5.2.1 Hybrid Seeds

      2. 5.2.2 Varietal Seeds

      3. 5.2.3 Other Product Types

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 East-West Seed (Thailand) Co.

      2. 6.3.2 Bayer AG

      3. 6.3.3 Chia Tai Co. Ltd

      4. 6.3.4 Syngenta Thailand

      5. 6.3.5 Pacific Seeds (Thai) Ltd

      6. 6.3.6 Acsen HyVeg

      7. 6.3.7 Known-You Seed Co. Ltd

      8. 6.3.8 Pioneer Hi-Bred (Thailand) Co. Ltd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

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Frequently Asked Questions

The Thailand Seed Market market is studied from 2017 - 2027.

The Thailand Seed Market is growing at a CAGR of 5.4% over the next 5 years.

East-West Seed (Thailand) Co. Ltd, Chia Tai Co. Ltd, Bayer AG , Pacific Seeds (Thai) Ltd, Syngenta Thailand are the major companies operating in Thailand Seed Market.

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