Vegetable Seed Market Value and Growth Forecast 2024-2032

jhon6225

posted on 4 months ago — updated on 1 second ago

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The global vegetable seeds market size was USD 8.14 billion in 2023 and is projected to grow from USD 8.69 billion in 2024 to USD 15.03 billion by 2032, growing at a CAGR of 6.78% during the forecast period.

Vegetable Seed Market

Market Size:

The global vegetable seeds market is expected to gain impetus from the increasing awareness regarding the benefits of consuming vegetables in developing and developed countries. The World Health Organization (WHO) declared that lower consumption of fruits and vegetables causes around 1.7 million deaths worldwide per year. This information is given by Fortune Business Insights™ in a published report, titled, “Vegetable Seeds Market Size, Share & COVID-19 Impact Analysis, By Type (Open Pollinated Varieties and Hybrids), Crop Type (Solanaceae, Root & Bulb, Cucurbit, Brassica, Leafy, and Others), Cultivation Method, and Regional Forecast, 2024 – 2032.”

This Report Answers the Following Questions:

Which segment is likely to lead the market in the coming years?
Which company would generate the highest revenue in the future?
What are the predicted, historical, and current sizes of the market?
How will prominent firms surge sales of vegetable seeds amid COVID-19?

Drivers & Restraints-

Growing Inclusion of Vegetables in Diet to Drive Market Expansion

Currently, numerous companies are developing hybrid vegetables to meet the needs of both farmers and consumers. These hybrids offer a variety of benefits, including extended shelf life, enhanced flavor, improved shape and color, higher yields, better taste, increased nutritional value, and greater adaptability. As a result, hybrid vegetable seeds are becoming more popular than non-hybrid varieties.

Furthermore, the increasing consumption of vegetables in diets is aiding in the fight against malnutrition. In many developing nations, the nutritional benefits of vegetables are seen as a cost-effective solution to address nutritional deficiencies. However, climate change poses a significant challenge to agricultural production globally and could hinder the growth of the vegetable seeds market in the future.

Source: https://www.fortunebusinessinsights.com/vegetable-seed-market-103066

Segment-

Solanaceae Segment to Grow Rapidly Backed by Rising Investments by Key Companies

By crop type, the Solanaceae segment accounted for 41.88% of the vegetable seeds market share in 2019. This growth is due to increased investments by leading vegetable seed manufacturers in developing high-quality seeds, such as hybrid tomatoes. The segment primarily includes peppers, eggplants, potatoes, and tomatoes.

Regional Analysis-

Asia Pacific to Remain at Forefront Backed by Expansion of Agriculture Industry

Geographically, in 2019, Asia Pacific procured USD 2.86 billion in terms of revenue. The region is set to retain its dominant position throughout the forthcoming years stoked by the increasing area under horticultural crops in the region. Apart from that, the expansion of the agriculture industry is set to contribute to this growth. India and China are the most significant countries that report high vegetable consumption and production.

Europe, on the other hand, is set to exhibit considerable growth backed by the increasing advancements in the field of breeding technologies. It will help in the development of high-quality vegetable seeds. In North America, the demand for the product is set to be high from Mexico and the U.S.

Competitive Landscape-

Key Players Focus on Acquisition Strategy to Gain a Competitive Edge

The market for vegetable seeds is consolidated owing to the rising number of mergers and acquisitions. Numerous multinational firms are investing hefty amounts of money in innovating brewing techniques to meet the increasing demand. Below are the latest industry developments:

April 2020: Sakata Seed America successfully acquired Vanguard Seed, a lettuce seed company headquartered in the U.S. to introduce a wide variety of lettuce in the market.
February 2019: Syngenta Flowers recently unveiled Vegetalis, its new vegetable portfolio. It contains high-performing herb and vegetable seeds.

A list of all the vegetable seeds manufacturers operating in the global market: