(I-BusinessNews.Com, March 04, 2020 ) The report “Fruit & Vegetable Seeds Market by Type (Brassica, Cucurbit, Leafy, Root-bulb, and Solanaceae), Trait (GM and Conventional), Form (Organic and Inorganic), Farm type (Indoor and Outdoor), and Region – Global Forecast to 2022″, The global fruit & vegetable seeds market is projected to grow at a CAGR of 8.10% from 2016 and reach USD 14.00 Billion by 2022.
A rise in need for food for the growing population, and factors such as demand for nutritional food, environment friendliness, innovative production practices, new product offerings, and advent of modernization of agriculture has lead to the growth of the market for seed industry, globally. Fruit & vegetable seeds are used for high-quality crop yield for the increasing population and its growing food demand. Hence, fruit & vegetable seeds will be viewed as a business opportunity in the next six years. As a result, many multinational players have entered into the production of various types of fruit & vegetable seeds, which can be used for crops.
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Market Dynamics
Drivers
Growing market for genetically modified (GM) crops
Increase in seed replacement rate
Innovations in seed qualities
Restraints
Regulations in cultivation of GM crops
Varying climatic conditions
Opportunities
Diversified demand and specialized cultivation of food crops
Challenges
Long duration of R&D process of new plant biotechnology trait
Innovations in seed qualities
Growth in agricultural productivity is generally a result of innovations in seed quality. In the US, corn yields rose from 124,46,865 bushels in 2010 to 13,601,198 bushels on average, while wheat, soybean and cotton yields increased by 2– 4 times. Europe and Spain observed an increase of around 3.25% in corn yield in 2014, as compared to 2013. China being one of the largest producers of corn, accounts for an average yield of 92 bushels per acre. This unprecedented growth in global agricultural productivity was led by a series of biological innovations in major crop seeds, especially corn, cotton, soybean, and wheat.
The organic seeds segment is being driven by the growing interest of chemical-free food products in the global market which is supported by government programs
Organic fruit and vegetable seeds are eco-friendly seeds that do not require the use of pesticides, fertilizers, growth regulators, and genetically modified organisms (GMOs). The general principle of organic production is to protect the environment, minimize soil degradation & erosion, decrease pollution, optimize biological productivity, and maintain soil fertility. Consumers purchase organic foods that are highly nutritious and are either free of chemical fertilizers or are grown without conventional fertilizers. Products produced according to organic standards are certified as “certified organic.”
Increase in need for food demand, high investment in R&D, and change in farming practices key to success in the Asia-Pacific region
Asia-Pacific is one of the largest contributors to the global fruit & vegetable seeds due to an increase in the usage of fruit & vegetable seeds through advanced agricultural techniques and rise in need for food demand in the countries. India, China, and Indonesia constituted the largest country-level markets in the Asia-Pacific region in 2015. High market penetration by the leading fruit & vegetable seeds companies, for enhancing the agricultural growth and productivity are the main factors influencing the growth of the fruit & vegetable seeds market in Asia-Pacific.
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This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include Bayer CropScience (Germany), Syngenta AG (Switzerland), Monsanto (U.S), Groupe Limagrain (France), and Sakata Seed Corp (Japan); these are well-established and financially stable players that have been operating in the industry for several years. Other players include Advanta Limited (India), Takii & Co. Ltd. (Japan), Mahindra Agri (India), and Western Bio Vegetable Seed Pvt. Ltd. (India).
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