Global Vegetable seeds market size is estimated to be valued over US$ 7.4 Bn
According to Bekryl Market Analyst: In another ten years, the industry will gradually shift to consolidation since the demand for hybrid seeds has increased over traditional seeds. Shift in market structure is primarily attributed to limited arable land and rising consumers. Hybrid seeds is necessary to support the human ecology. As such, leading companies will be able to expand its business reach and generate higher revenue during the forecast period.
While there exists huge revenue potential, global vegetable seeds market dominance is expected to be threatened by China based competitors, who are gradually shifting up on value chain. Mergers acquisition and partner with regional distribution channels is another major trend that will shape the industry in another ten years.
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Leading Export Markets: North America and Western Europe Accounted for 71% of Total Vegetable Seed Export
Western Europe and North America accounted for 71% of total exported vegetable seeds in 2018. Netherlands accounted for 41% of the total exports in 2018. This corresponds to marginal decline in percent share as compared to that in 2013. Italy and U.S. stands next to Netherlands in terms of exports. While China and India are leading consumer of these seeds, majority of the seeds produced is consumed with marginal fraction exported worldwide. Africa, though accounted for marginal share, is emerging as preferred export destination. Cheap human resource and vast land availability has created favorable ecosystem for vegetable seeds to flourish. The region will witness further increase in share during the forecast period.
Focus on Emerging Economies to Boost Vegetable Seeds Market Sales
Globally, Asia Pacific dominated in vegetable production in 2018. China and India collectively accounted for 728 million metric tons of vegetable production. China produced 15X higher vegetables than U.S. – third major destination for vegetable production. While China and India dominated the global vegetable production, much of the seeds are procured through traditional means. There exists a huge market opportunity for players engaged in vegetable seeds value chain. Changing agriculture landscape and increasing population will demand seeds of superior quality. Major companies have sensed the demand and are working to capitalize the unstructured market. Besides Asia Pacific, industry players are also focusing on Latin America and Africa region.
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In 2018, Syngenta registered 6% sales growth of seed business in South Asia. The company is strengthening its presence in Asia to cater to growing demand in the region. While the company is fairly doing good in the region, it witnessed a series of challenges in the region. Low vegetable prices and competition from regional vendors is a major challenge to company seed business growth. The company, however, witnessed strong sales growth in Latin America owing to rise in vegetable production in Brazil and Mexico. In 2018, Syngenta acquired the global seed business of Nidera from Nidera B.V. Acquisition is expected to strengthen company presence in Latin America vegetable seeds market.
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In May 2019, Bayer announced its plan to build Latin America largest seed factory in Chile. Factory will help Bayer to lower the operational cost and capture a major chunk of untapped Latin America market.
Global Vegetable Seeds Market Size Analysis and Industry Opportunity: By Region
Globally, Asia Pacific vegetable seeds market dominated the global share where China and India are the major players in the region. The region accounted for 59% of global share in 2018. Growth in the region is attributed to large population base, higher adoption of hybrid seeds and digitization to improve agricultural yield. China and India are registering double digit growth and will continue to maintain the momentum throughout the forecast period. Agrarian culture and varied regional climate are also another factor driving the sales of vegetable seeds in the region.
Western Europe vegetable seeds market stands next to Asia Pacific with 28% share. Over 6,500 seed companies are operational in the region with majority of them having small scale business operations. Latin America and Africa accounts a meagre share, however, are expected to register significant growth over the next ten years.
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Global Vegetable Seeds Market Size and Forecast: Competition Landscape
Some key Vegetable Seeds market players are:
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Cabbage
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Lettuce
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Melon
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Eggplant
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Chinese Cabbage
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Onion
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Tomato
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Watermelon
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Sweet Pepper
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Carrot
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Hot Pepper
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Sweet Corn
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On Trade
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Off-trade
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Supermarkets
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Convenience Stores
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Retailors
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Farmer Associations
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General Stores
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Others
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