Vegetable Seed Market - Global Growth, Trends and Forecasts (2017 - 2022)
The global vegetable seed market is nearly 11% of the global seed market. The estimated value during 2016 was USD 7.81 billion and the market is projected to witness a double digit growth rate during the 2017-2022 period. With the advancements in technology, the industry is shifting towards the use of new molecular marker techniques to develop advanced hybrids and varieties. Adoption of GMO technology is also increasing rapidly. Even though many companies are operating globally, they are also catering to the domestic market requirements by introducing new vegetable varieties. Rapid growth is expected to occur in the vegetable seed market due to mergers & acquisitions and collaborative projects between companies.
Seed is one of the most basic and important inputs for vegetable cultivation. It is estimated that the quality of seed accounts for 25-30% of productivity. The growing demand and increased production of vegetables are driving the market growth. The global vegetable production has doubled over the past 25 years and its value has exceeded the grain trade value. Currently, China is the largest grain producer, followed by India. High seed replacement rates for vegetables like cabbage and tomato, as compared to oilseed and grains, are among the important factors stimulating the market growth. However, the perishable nature of seeds, high R&D costs and the presence of spurious seeds in the market are restraining the market growth.
The market has been segmented by the vegetable types into - tomato, cabbage, sweet pepper, lettuce, watermelon, onion, melon, Chinese cabbage, hot pepper, carrot and others. Tomato seed market has the largest share followed by cabbage, among others. Eggplant is expected to witness the fastest growth during the forecast period.
By geography, Asia-pacific is the largest vegetable seed market followed by Europe, Latin America and North America. USA, Netherlands, France, Chile, China and Italy are the top seed exporting countries. During 2015, USA exported 14678 metric tonnes of vegetable seed of worth USD 550 million. In terms of volume of seed export Netherlands is the second largest exporter followed by Italy France and China. The total export volume of vegetable seed by Chile is nearly 15% of the Italy’s export volume, however, the export value of Chile vegetable seed were USD 30 million more than Italy’s seed export value. By import value and volume, Netherland is the largest market, followed by USA, Mexico, Spain and Italy.
The Netherlands is the number one importer of vegetable seeds globally, and it accounts for nearly 10.29% of the global imports. During 2016-2021, the Netherlands import value expected to grow at an estimated CAGR of .50% and the import value of vegetable seeds by Netherlands is expected to reach USD 385.5 million by 2021. Netherlands vegetable seed market is a mature market and the scope of market expansion are less as compare to other emerging markets.
Major companies in the sector include:
Nunhems (Bayer Crop Science)
Monsanto has the largest share in the vegetable seeds market followed by Limagrain.
Recent Industry Insights
With the high success rates of GM varieties, the industry is adopting this technology expand their market share. Developing nations such as Bangladesh has already release Bt Brinjal in their market and plans to release Late Blight resistant GMO Potato at the end of 2016. Mahyco, who first developed Bt brinjal through public-private partnership in India, is transferring its technology, free of cost to many institutes in India such as Tamil Nadu Agricultural University, Indian Institute of Vegetable Research etc.
Key Deliverables in the Study
Market analysis for the global vegetable market, with region specific assessments and competition analysis.
Market overview and identification and analysis of the macro and micro factors that affect the global vegetable seed market and also instrumental in changing the market scenario, on both, global and regional scale.
Extensively researched competitive landscape section with profiles of major companies and their market share, along with an analysis of their current strategic interests and financial information and strategies adopted by them to sustain and grow in the studied market.
The report holds importance for the following stakeholders-
Producers and manufacturers
Agricultural input companies
Enterprises operating in the industry
Traders and stakeholders operating in the sector
Investors/research institutions interested in the market
Supply chain analysis