The global vegetable seeds market size was USD 6.76 billion in 2020. This information is processed by Fortune Business Insights™ in its report titled, “Vegetable Seeds Market, 2021-2028.” As per the report, the market is projected to grow from USD 7.17 billion in 2021 to USD 11.36 billion by 2028, displaying a CAGR of 6.78% during the forecast period of 2021-2028.
As per our analysts, a diet rich in vegetables can aid to decline the incidence of any ailment or disorder, for example, obesity and eye concerns. Moreover, eating healthy non-starchy vegetables such as lettuce, spinach, and others aid in weight loss. This has augmented the demand for the product.
Disruption in Supply Chain of Vegetable Seeds to Decline Market Value amid COVID-19
The global outbreak of COVID-19, trailed by lockdowns across numerous countries, has affected several industries. Although the seed sector was measured under indispensable commodities, its production and logistics were affected owing to other aspects such as labor shortage and seed trade.
For example, as per the Executive Director of the Federation of Seed Industry in India, the declination in onsite staff, application of numerous shifts, social distancing, recurrent sanitization of plant, and periodic health monitoring of staff resulted in declined yield at Indian seed processing plants.
The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective. The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is expected to affect the demand for vegetable seeds in the near future.
Drivers and Restraints
Demand for Diet-based Nutritional Food to Support Market
The inclusion of vegetables in the diet helps to combat malnutrition and diversify the diet. Dietary diversification helps to balance the diet by enhancing the supply of essential micronutrients that lead to improved health, enhanced thinking ability, and increased efficiency. Moreover, the nutritional richness of vegetables ensures a low-cost remedy for nutritional deficiency in many developing countries. This is expected to bolster thee vegetable seed market growth.
Asia Pacific is slated to be the leading region in the global market
Asia Pacific presently holds the largest vegetable seeds market share and is projected to recollect its position throughout the forecast period. The increasing agriculture industry, growing consciousness regarding the health benefits of vegetables, and rising area under horticultural crops are the prime aspects fuelling the market in this region.
The Europe market will display substantial demand on account of the speedy progressions in the breeding technologies that lead to the expansion of high-quality vegetable planting seeds.
The North America market stated considerable growth during the foreseeable years. The vegetable planting seeds industry is highly strong-minded, with a high demand for vegetables in the U.S., Canada, as well as Mexico.
By type, the market is divided into open pollinated varieties and hybrid. By crop type, it is fragmented into Solanaceae, root & bulb, cucurbit, brassica, leafy, and others. By cultivation method, it is bifurcated into protected and open field. Region-wise, it is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Collaborations among Companies to Protect their Brand Values in Global Market
Prominent players in the market are constantly opting for operative tactics to promote their products and institute their positions in the market. One such strategy is to present novel products by partnering up with other companies to extend their reach to end-users.
January 2021: Bayer demonstrated four novel diversities of vegetable seeds known as, Anshuman, Bazlet, SVHA9093, and Himgauri during an event, Pragati Diwas. This program was conducted in Chikaballapur based near Bengaluru, India.
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