The global vegetable seeds market size is expected to reach USD 10.48 billion by 2027, exhibiting a CAGR of 7.8% between 2020 to 2027. The growing cognizance about the benefits of vegetables in weight loss and management can be a vital factor augmenting the growth of the market, states Fortune Business Insights, in a report, titled “Vegetable Seeds Market Size, Share & Industry Analysis, By Type (Open Pollinated Varieties and Hybrids), Crop Type (Solanaceae, Root & Bulb, Cucurbit, Brassica, Leafy, and Others), Cultivation Method, and Regional Forecast, 2020 – 2027” the market size stood at USD 5.78 billion in 2019.
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The report on the vegetable seeds market incorporates:
- Complete analysis of all the segments
- Revealing data and figures
- Latest industry trends
- Grander insights into all emerging advances
Market Driver:
Growing Popularity of Hybrid Seeds to Boost Market Development
The growing inclination towards hybrid vegetables over non-hybrid vegetables among consumers owing to its nutrition, taste, color, size, quality, flavor, and shelf-life will subsequently enable the growth of the market during the forecast period. The application of hybrid vegetable seeds to prevent the crops from different types of environmental stress such as insects, plant diseases, and others will further foster healthy growth of the market. The adoption of hybrid seeds by farmers for higher crop yields and consistent performance throughout will contribute positively to the growth of the market. Nonetheless, the emergence of major seed companies will boost the supply of quality seeds, which, in turn, will bode well for the market in the foreseeable future.
Supply of Essential Goods to Ease Market Amid Coronavirus
The outbreak of COVID-19 has led to the destruction in the supply chain of many industries across the world. Nevertheless, the heavy demand for essential goods during the pandemic will consequently foster the healthy growth of the market. according to the International Seed Federation (ISF), the spread of coronavirus had a lesser impact on the seed sector as it was considered under essential commodities to sustain the delivery of seed to farmers. The supply of seeds to preclude the scarcity of food in numerous nations amid coronavirus will effortlessly create business opportunities for the market.
Regional Analysis:
High Consumption of Vegetables to Boost Market in Asia Pacific
The market in Asia Pacific is expected to witness an excellent growth rate during the forecast period. The growth in the region is attributed to the booming agriculture industry in India and China. The increasing awareness regarding the health benefits of vegetables will have a tremendous impact on the market in the forthcoming years. The high vegetable production and consumption in India has created a lucrative business for the seed industry. The market in Europe is expected to experience enormous demand during the forecast period due to the rapid advancements in breeding technologies. The development of high-quality vegetable seeds is predicted to contribute effectively to the market growth in Europe. The growing international trade for fruits & vegetables will foster the healthy growth of the market in Europe.
Key Development:
August 2018: BASF announced the acquisition of Bayer’s vegetable seed business, which was operating under the brand Nunhems.
Browse Summary :
https://www.fortunebusinessinsights.com/industry-reports/seed-treatment-market-100156
