Market Size of South and Southeast Asia Seed Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 3.15 Billion |
Market Size (2029) | USD 4.18 Billion |
CAGR (2024 - 2029) | 5.90 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South & South East Asia Seed Market Analysis
The South and Southeast Asia Seed Market size is estimated at USD 3.15 billion in 2024, and is expected to reach USD 4.18 billion by 2029, growing at a CAGR of 5.90% during the forecast period (2024-2029).
The COVID-19 pandemic caused a serious impact on the production, certification, distribution, and cost of seeds, which play a key role in developing the agricultural sector in South and Southeast Asian countries. International trade suffered due to slow or lack of transportation, labor shortages, and a contraction in the market for plants and seeds. Several factors, such as improvements in the agricultural sector, seed production, trade, and international agreements, along with the developments in seed technology, increased the momentum of the industry's growth. Six countries, namely India, Thailand, Indonesia, Vietnam, the Philippines, and Bangladesh, are considered the seed hubs in Southeast Asia based on the concentration of production, breeding, and processing activities by index companies in these countries. The non-GM/hybrid seeds segment has dominated the market due to the increased demand for food over recent years. To meet this growing demand, crop yield enhancement has become a necessity. The major players in the market are Bayer Crop Science SE, Syngenta International AG, Corteva AgriScience, BASF SE, and Nuziveedu Seeds Ltd, among others.