Rockville, Aug. 14, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a market research and competitive intelligence provider, Garden Seeds Market revenue was estimated at US$ 840 million in 2022 and is anticipated to grow at a CAGR of 4.6% from 2023 to 2033, according to a recently published Fact.MR report. By the end of 2033, the market is expected to reach a valuation of US$ 1.4 billion. The market through vegetable seeds is expected to grow with a projected CAGR of 4.4% from 2023 to 2033.
According to a data from the Food and Agriculture Organization of the United Nations (FAO), the global vegetable production in 2020 was around 1.16 billion tonnes. The global consumption of vegetables has increased with more people adopting vegetarian and vegan diets. Increasing demand for vegetables in developing countries, and growing production of vegetables is expected to drive the growth of vegetable seeds market in the upcoming years.
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The increasing investment by the government and venture capital firms for the advancement in seed technology and research augments the growth of garden seeds market. For instance, in 2020, the venture capital investment in the agriculture and food technology sector reached a record high of around US$ 22.3 billion, up from US$ 20.7 billion in 2019. Seed-stage funding accounted for the largest share of total investment, with around US$ 7.6 billion.
China and India are the largest producers of vegetable seeds, and they also have a significant presence in the global market for garden seeds. According to the data from the Food and Agriculture Organization (FAO), in 2019, China exported around US$ 882 million worth of vegetable seeds, while India exported around US$ 462 million worth of vegetable seeds in the same year. The increasing demand for vegetables and fruits, and the adoption of modern farming practices are expected to drive the growth of garden seed market in the upcoming years.
Competitive Analysis:
Key players in the market are Bayer (Pty) Ltd, Syngenta, Jackson & Perkins, Inc., Harris Seeds, JK Agri Genetics Ltd., Baker Creek Heirloom Seeds, Fedco Seeds, Inc., Fruition Seeds LLC, Kalashseeds Pvt. Ltd., Kitazawa Seed Co., Ontario Seed Company Ltd., Prairie Garden Seeds, Rohrer Seeds, San Diego Seed Co., Seed Needs LLC, Swallowtail Garden Seeds, and Territorial Seed Co.
A few of the recent developments in the Garden Seeds Market are:
- In April 2020, A division of Sakata Seed Corporation called Sakata Seed America purchased the Vanguard Seed, a lettuce seed company in the United States. The company Vanguard Seed would be able to through this acquisition. The company would be able to enter the market with new lettuce kinds thanks to the acquisition.
- In March 2021, Syngenta announced that it had acquired Valagro, a leading biostimulant and specialty nutrients company. The acquisition is part of Syngenta's strategy to expand its crop protection and seed businesses by offering a broader range of products and solutions to farmers.
The Fastest Growing Segment: Rising Demand for Vegetable Seeds
The demand for vegetable seeds is poised to experience rapid expansion, having demonstrated a robust Compound Annual Growth Rate (CAGR) of 6% from 2018 to 2022. This growth trajectory is projected to continue, with an expected CAGR of 4.4% from 2023 to 2033.
Notably, vegetable seeds have gained substantial traction among consumers, particularly those inclined towards cultivating their own produce. With the surge in home gardening practices and an increasing preference for organic and locally sourced goods, the vegetable seeds market is set to flourish in the years to come.
Anticipated to be the frontrunner in growth during this period, the vegetable seeds segment is propelled by several key factors. The burgeoning trend of home gardening, coupled with heightened demand for organic and non-genetically modified (GMO) vegetables, contributes significantly to this expansion. Additionally, the growing awareness surrounding the health advantages linked to the consumption of freshly harvested produce further fuels the growth of this vibrant market segment.
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Analysis of the United States Garden Seeds Market
Projected to reach a value of US$ 488.9 million by 2033, with a substantial increase of US$ 171 million from 2023 to 2033, the US garden seeds market has shown steady growth. Having expanded at a CAGR of 5.9% from 2018 to 2022, the market is anticipated to continue growing at a CAGR of 4.4% from 2023 to 2033.
In 2019, organic seed sales in the US reached approximately US$ 29 million, marking a notable 14% increase from the previous year. This upsurge is attributed to the surging popularity of organic gardening and farming, driven by consumer preferences for reduced exposure to pesticides and chemicals. This escalating demand for organic seeds contributes significantly to the overall growth of the garden seeds market.
Segmentation of the Garden Seeds Market
- By Type:
- Vegetable Seed
- Flower and Ornamental Seed
- Fruit Seeds
- Herb Seeds
- By Distribution Channel:
- Online Sales
- Specialized Stores
- Convenience Stores
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Garden Seeds Market, presenting historical market data (2018-2022) and forecast statistics for the period from 2023 to 2033.
The study reveals extensive growth in Garden Seeds Market by Type (Vegetable Seed, Flower and Ornamental Seed, Fruit Seeds, Herb Seeds), by Distribution Channels (Online Sales, Specialized Stores, Convenience Stores) by Region (North America, Latin America, Europe, Asia- Pacific, Middle East and Africa) - 2023 to 2033.
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Sweet Corn Seeds Market: The global sweet corn seeds market stands at a valuation of US$ 820.3 million in 2023 and is forecasted to expand at 3.8% CAGR to reach US$ 1.19 billion by the end of 2033.
Commercial Seeds Market: The global commercial seeds market depends on the agricultural industry development. The global commercial seeds market is estimated to witness a rise in the year 2023. North America is the largest market for commercial seeds followed by the Asia Pacific & Europe region.
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