Vegetable seed is the product of the ripened ovule, after fertilization by pollen and some growth within the mother plant. It is an embryonic plant enclosed in a protective outer covering.
The first five-year cumulative revenue (2018–2022) is projected to be approximately US$ 49 Bn, which is expected to increase significantly over the latter part of the five-year forecast period. The global vegetable seeds market was valued at approximately US$ 9,082.3 Mn in 2019, and is expected to register a CAGR of over 7.5%.
Increasing demand for hybrid seeds in order to enhance the taste, texture, and quality of the vegetables is a major factor expected to drive overall growth of the global vegetable seeds market. In addition, increasing demand for vegetable seeds owing to rising demand for vegetables another factor expected to fuel growth of the target market to significant extent during the forecast period. Moreover, increasing health consciousness in consumers is expected to boost demand for healthy and nutritional items, which in turn expected to support revenue growth of the target market.
Global Vegetable Seeds Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global vegetable seeds market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global vegetable seeds market is expected to expand at a CAGR of over 7.5% during the forecast period.
Global Vegetable Seeds Market: Segmental Snapshot
The market report has been segmented on the basis of component type, technology, application, end use, and region. The component type segment includes solanaceae, cucurbit, root and bulb, brassica, leafy, and others. The region covered in the analysis includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By type: The solanaceae segment accounted for highest revenue share contribution as compared to other type segment, and is expected to register a CAGR of over 8.4% over the forecast period
By Region: The market in Asia Pacific accounted for highest revenue share in the global vegetable seeds market in 2017. The Asia Pacific vegetable seed market is projected to register a CAGR of over 8.4% dring the forecast period.
Global Vegetable Seeds Market: Competitive Analysis
The research report on the global vegetable seeds market include profiles of some of major companies such as BAYER CropScience AG (Monsanto Company), Syngenta AG, BASF SE, Takii & Co., Ltd., Sakata Seed Corporation, Maharashtra Hybrid Seeds Company Private Limited (Mahyco Seeds Ltd.), Western Bio Vegetable Seeds Ltd., Bejo Zaden B.V., Groupe Limagrain Holding SA, UPL Limited (Advanta Seeds), and East-West Seed International Ltd.