Thailand Seed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Thailand Seed Market is segmented on the basis of Crop Type (Field Crops, Fruit and Vegetables, Other crops) and Product Type (Hybrid Seeds, Varietal Seeds and Others).

Market Snapshot

Thailand fertilizer industry
Study Period:

2016 - 2026

Base Year:

2020

CAGR:

5.4 %

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Market Overview

The Thailand seed market was at USD 682.8 million in 2020 and is anticipated to register a CAGR of 5.4% during the forecast period (2021-2026). 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 the year 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. The rising seeds demand by regional markets and farmer preferences, requiring specific plant characteristics and disease resistance varieties are driving the seed market over the long term. However, some factors such as the unavailability of required capital for fruit crop production in the country and the new government regulations​ are expected to restrain the market growth during the forecast period.

The Thai seed industry is among the most well-established in the Asia-Pacific region. Many organizations including Thai Seed Trade Association and the Seed Association of Thailand, along with the Ministry of Agriculture are working towards 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 seed sector in Thailand is estimated to grow rapidly over the forecast period. The Thailand Seed Market is segmented on the basis of Crop Type (Field Crops, Fruit and Vegetables, Other crops) and Product Type (Hybrid Seeds, Varietal Seeds, and Others).

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

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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 research and development of new varieties, hybrid seeds has immensely increased in the country. In 2016, East-West Seed donated THB 1 (USD 28,000+) million for the new bioinformatics program at the Center for Agricultural Biotechnology (CAB), at Kasetsart University Thailand. 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 Research and Development station in Khon Kaen, North East of Thailand. The station is supporting breeding for hot and humid markets of the world for tomato, hot pepper, cucumber, watermelon, melon, and tropical sweet corn. Besides breeding and disease screening, this station supports generation advancement, speed to market breeding, and adaptation trials of other vegetable crops. The rising investments in the seed sector have also pushed the country in exporting various seeds. This is further expected to enhance the Thailand seed sector.

Thailand Seed Market: Export Value(USD Thousand)

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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 ton in 2018. 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 is 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 has been introduced by the Rice Department, Thailand. RD79 has been designed to resist disease and tolerate drought better than the country’s traditional grains. The development of new rice varieties hence 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 Thailand seed market is moderately concentrated, with the major players constituting a share of 40% in the year 2020. While only a small number of seed companies in Thailand conduct their own 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.

Recent Developments

In 2020, Chia Tai seed business introduced its modernized seed repackaging under the brand of “CHIA TAI SEED Trusted since 1921”, quality seeds for professional farmers. This product repackaging aims to increase the ability of 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.

In 2019, Pacific Seeds Thai, a subsidiary of UPL Group Co, inaugurated the site in Thailand for its USD 2.0 million worth corn sizer and treater processing plant, a project aimed at dramatically boosting exports to Latin America. The company plans to increase seed exports to 5,000 tonnes a year over the next three years.

In 2018, HM Clause inaugurated its new Research and Development station in Khon Kaen, Thailand. The station is supporting breeding for hot and humid markets of the world for tomato, hot pepper, cucumber, watermelon, melon, and tropical sweet corn.

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/Consumers

      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 Others

      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 Others

  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

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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

**Subject to Availability

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Frequently Asked Questions

The Thailand Seed Market market is studied from 2016 - 2026.

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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