Global Organic Seed Market - Segmented by Type and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global organic seed market is projected to reach USD 5.0 billion by 2023, registering a CAGR of 12.5% during the forecast period, 2018 - 2023. In the recent past, North America and Europe accounted for half of the organic seed demand; North America dominates the market share, followed by Europe. The dominance of developed regions is expected to continue over the forecast period, owing to growing organic food demand in these regions.
Growing Organic Food Demand Drives the Market
Due to heavy usage of fertilizers and chemicals and their evident side-effects on human health, there has been a rapid increase in demand for organically grown food. Since 2015, organic pulses and food grains dominated the market. The main factors driving the organic food market are rising consumer incomes and them becoming more conscientious about the quality of the food they consume. Due to the chemically-charged lifestyle, people are showing more interest toward quality lifestyle, in which organic segment is expected to play a major role in the near future. The Asia-Pacific market is relatively new in the segment of organic food, as there are limited companies in the region. Thus, there exists a very good opportunity for startups to grab the opportunity.
Favorable Regulatory Framework Drives the Market
Across the globe, in order to increase the adoption of organically grown food, governments and environmental agencies are taking initiatives. Such favorable regulatory frameworks are mainly concentrated in developed parts of Europe and North America. Moreover, there are multiple initiatives that include favorable policies in the form of tax exemptions and other incentives to encourage organic farming.
Reasons to Purchase the Report
- To have an understanding of the fastest-growing regions in the organic seed market and their growth trends during the forecast period
- The report outlines drivers, restraints, and trends that are currently affecting the market
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The report covers in-detail insights about the competitors overview, company share analysis
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
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