2016 - 2026
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The vegetable seed market is projected to register a CAGR of 5.5% during the forecast period of 2021-2026. Most companies in the Asia-Pacific region reported a negative effect on the demand and sale of sowing seed for all crops amid the spread of the COVID-19 pandemic. In India, with restricted operations of ports and testing labs, the import of high-quality vegetable seeds has been significantly impacted, forcing farmers to opt for low-quality seeds. However, in mid-2020, an uptake in demand for small seed packs for growing in the garden was observed. A similar trend was observed even in other regions as well.
Asia-pacific is identified to be the fastest-growing market. The demand for vegetable seeds, especially in developing countries, such as China and India, is still untapped and this provides multinational companies various opportunities for expansion and to widen the customer base. Countries are shifting toward the adoption of high-quality seeds, due to the export potential of vegetable seeds in the global market.
By vegetable type, the markets for the hot pepper, eggplant, Chinese cabbage, sweet pepper, and lettuce seeds are expected to witness the fastest growth rate during the forecast period. Vegetable seed companies are using biotechnology tools to develop varieties with improved agronomic performance, adapting to climatic conditions, disease and pest resistance, and adapting to different market segments, like fresh consumption or processing. Therefore, the market is anticipated to achieve a significant growth.
Scope of the Report
The report considers all commercial vegetable seeds used to cultivate vegetables throughout the world. However, the value of vegetable seeds planted with the sole purpose of seed production is eliminated from the study. The report also does not cover other applications of seeds. Only commercial seeds are taken into account for estimating the global market, and not the farm-saved seeds. The vegetable seed market is segmented by Cultivation Mechanism (Open Field and Protected Cultivation), by Vegetable Type (Tomato, Cabbage, Sweet Pepper, Lettuce, Watermelon, Onion, Melon, Chinese Cabbage, Hot Pepper, Carrot, Sweet Corn, Eggplant, Okra, and Other Vegetable Types), and Geography (North America, Europe, Asia-Pacific, Asia-Pacific, South America, and Africa)
|Other Vegetable Types|
Key Market Trends
Decrease in Per Capita Arable Land
As a result of population expansion and a steady land degradation rate, the per capita land has been declining and is further anticipated to decline in the future. The global per capita land availability was around 0.22 ha in 2005, which reduced to 0.194 ha in 2015 and further to 0.192 ha in 2016. The decreasing per capita availability of arable land is a major concern for global agricultural production. However, it is considered to be a driver for the seed industry.
The reducing per capita arable land, especially in developing countries, is encouraging corporations and farmers to pool their resources, for contract farming and use quality seeds. The increasing contract farming practices help converge a large set of farmers to one point, for seed selection. This maintains a uniformity in the product, thus helping the seller to obtain sustainable demand and augmenting the bulk sale of seeds.
The major players in the market are majorly focusing on research and development activities in order to produce new varieties of seeds that are embedded with the characteristics of high yield with less crop damage. For instance, in 2020, Bayer released the final large-scale pre-launch trials of Roma-type tomatoes to which is known to address the Tomato brown rugose fruit virus (ToBRFV). The trials started in Spetember 2020 in Mexico, included two varieties of Roma-type tomato that claim Intermediate Resistance (IR) to ToBRFV. This will aid in improving the yield in a given piece of land. Thus, the decreasing per capita arable land globally is going to drive the global vegetable seeds market by increasing the production of high-yielding varieties and hybrid variety seeds in various countries.
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Asia-Pacific is the Fastest Growing Market
The demand for fresh vegetables has spurred from health-conscious consumers across the region. As agricultural land faces constraint, urban agriculture such as indoor farming and vertical farming practices have been scaling up their operations to address the shortage of domestically grown vegetables. The seed market in China is the second-largest in the world, after the United States, and accounts for 21.0% of the global market share. A total of 6,665 new vegetable varieties were registered by the vegetable seed companies in China in 2017. The country requires almost 400,000.0 metric ton of vegetable seeds, annually, to fulfill its vegetable requirements.
According to the Indian Council of Agricultural Research, increasing awareness regarding the consumption of vegetables to meet various dietary requirements and nutritional needs has raised the demand for fresh vegetables, consequently leading to an increase in the area of vegetable production in the country to 10.3 million hectares in 2017 from 10.1 million hectares in 2016. In India, most of the vegetable seed companies are focused on the production of tomatoes, cabbage, eggplant, chili, and okra, and cucumber seeds.
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The global vegetable seed market is a consolidated market with major players such as Bayer CropScience AG, BASF SE (Nunhems BV), Groupe Limagrain, and Sakata Vegetables Europe S.A.S dominating the market. The companies are majorly involved in mergers and acquisitions (M&A) and new development of hybrid varieties of vegetable seeds in various regions. Most companies are concentrating on hybrid vegetable seeds, which are largely backed by patents.
Merger and Acquisition are the most adopted by the key players after product innovation. For instance, in 2018, BASF acquired Bayer's entire vegetable seeds business, operating under the global trademark, Nunhems
The players are using expansion and product innovation as their major adopted strategies to strengthen their position in the market. In 2016, Seminis released a new variety of field tomatoes, “SV0215TH” in Australia.
Table of Contents
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Cultivation Mechanism
5.1.1 Open Field
5.1.2 Protected Cultivation
5.2 Vegetable Type
5.2.3 Sweet Pepper
5.2.8 Chinese Cabbage
5.2.9 Hot Pepper
5.2.11 Sweet Corn
5.2.14 Other Vegetable Types
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.3.4 South America
188.8.131.52 Rest of South America
184.108.40.206 South Africa
220.127.116.11 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Bayer CropScience AG
6.3.2 Groupe Limagrain
6.3.3 Syngenta AG
6.3.4 BASF SE (Nunhems BV)
6.3.5 Rijk Zwaan Zaadteelt En Zaadhandel BV
6.3.6 Sakata Vegetables Europe S.A.S
6.3.7 UPL Limited (Advanta Seeds International)
6.3.8 Takii & Co Limited
6.3.9 East-West Seed International Ltd
6.3.10 Enza Zaden BV
6.3.11 Bejo Zaden BV
6.3.12 Namdhari Seeds
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Vegetable Seed Market market is studied from 2016 - 2026.
What is the growth rate of Vegetable Seed Market?
The Vegetable Seed Market is growing at a CAGR of 5.5% over the next 5 years.
Which region has highest growth rate in Vegetable Seed Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Vegetable Seed Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Vegetable Seed Market?
- Bayer Crop Science
- Groupe Limagrain
- Syngenta International AG
- BASF SE
- Sakata Vegetables Europe S.A.S
Are the major companies operating in Vegetable Seed Market.