Portland, Jan. 18, 2024 (GLOBE NEWSWIRE) --
Allied Market Research published a report, titled, “Vegetable Seeds Market by Type (Open Pollinated Varieties, and Hybrid), Crop Type (Solanaceae, Root and Bulb, Cucurbit, Brassica, Leafy, and Others), and Cultivation Method (Protected and Open Field): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global vegetable seeds market generated $7,896.6 million in 2022 and is anticipated to generate $15,032.4 million by 2032, witnessing a CAGR of 6.7% from 2023 to 2032.
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Prime determinants of growth
The growth of the vegetable seeds market is influenced by several factors that collectively shape the dynamics of this crucial sector within agriculture. One key factor driving market expansion is the increasing global demand for healthier food options and a shift toward vegetable-based diets. Consumers are becoming more health-conscious, emphasizing the nutritional benefits of vegetables, and this change in dietary preferences propels the demand for a diverse range of vegetable seeds.
The rising global population and the associated concerns about food security represent another major determinant of growth. As the demand for food continues to escalate, vegetable seeds play a pivotal role in enhancing agricultural productivity. Governments, agricultural organizations, and farmers are increasingly recognizing the importance of vegetable cultivation in addressing nutritional deficiencies and ensuring sustainable food sources. This heightened awareness contributes to a growing demand for high-quality vegetable seeds.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $7,896.6 million |
| Market Size in 2032 | $15,032.4 million |
| CAGR | 6.7% |
| No. of Pages in Report | 543 |
| Segments covered | Type, Crop Type, Cultivation Method, and Region |
| Drivers |
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| Opportunities |
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| Restraints |
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The open-pollinated varieties segment to maintain its leadership status throughout the forecast period
Based on type, the open-pollinated varieties segment held the highest market share in 2022, accounting for three-fourths of the global vegetable seeds market revenue, and is estimated to maintain its leadership status throughout the forecast period. The demand for open-pollinated varieties is rising due to a growing interest in sustainable and traditional farming practices. OPVs offer farmers the ability to save and replant seeds, fostering self-sufficiency and preserving agricultural biodiversity. However, the hybrid segment is projected to manifest the highest CAGR of 7.3% from 2023 to 2032.
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The Solanaceae segment to maintain its leadership status throughout the forecast period
Based on crop type, the Solanaceae segment held the highest market share in 2022, accounting for one-third of the global vegetable seeds market revenue, and is estimated to maintain its leadership status throughout the forecast period. The demand for Solanaceae, encompassing tomatoes, peppers, and eggplants, is rising due to the popularity of these vegetables in global diets. Their versatility, rich flavors, and nutritional value contribute to increased consumer preference. Additionally, the leafy segment is projected to manifest the highest CAGR of 8.8% from 2023 to 2032.
The open field segment to maintain its leadership status throughout the forecast period.
Based on the cultivation method, the bread and bakery products segment held the highest market share in 2022, accounting for two-thirds of the global vegetable seeds market revenue and is estimated to maintain its leadership status throughout the forecast period. The rising demand for open-field cultivation in the vegetable seeds market is driven by the necessity for large-scale, sustainable farming. Open-field methods are crucial for extensive agriculture, enabling cost-effective production on a broad scale. Additionally, the protected segment is projected to manifest the highest CAGR of 7.1% from 2023 to 2032.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for half of the global vegetable seeds market revenue. In the Asia-Pacific region, the increase in population, expanding urbanization, and a surge in health-conscious consumer habits drive the demand for vegetable seeds. In addition, the LAMEA region is also expected to witness the fastest CAGR of 7.8% from 2023 to 2032 and is projected to dominate the market during the forecast period.
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Leading Market Players: -
- Syngenta AG
- Bayer AG
- Sakata Seed Corporation
- Namdhari Seeds Pvt. Ltd.
- Enza Zaden BV
- East-West Seed Group
- Bejo Zaden B.V.
- Takii & Co., Ltd.
- Rijk Zwaan Zaadteelt en Zaadhandel B.V.
- BASF SE
The report provides a detailed analysis of these key players in the global vegetable seeds market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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