Dietary diversification has gained significant importance in recent times on the back of its health advantage in terms of nutrient supply. Diversification in diets balances the daily intake by facilitating adequate supply of crucial micronutrients. This translates to improved thinking ability, enhanced health and efficiency of human body. This is carried out by inclusion of vegetables that provide low cost remedies for fighting nutritional deficiency and illnesses. This factor has triggered the consumption of vegetables in turn calling for enhanced production of vegetables, which is expected to spur the use of vegetable seeds worldwide.
In addition, according to World Health Organization (WHO), around 1.7 million fatalities worldwide occur due to lack of inclusion and consumption of vegetables. Adequate consumption of vegetables can prevent NCDs (Non-Communicable Diseases), which is a key aspect driving the production of vegetables. Rising awareness apropos to health advantages offered by consumption of vegetables has resulted in growing demand for vegetables across emerging and developed economies. This has augmented the production of vegetables, in turn complementing the growth of the vegetable seeds market.
Study indicates that the global vegetable seeds market stood at a valuation of more than US$ 6 billion in 2020 and is anticipated to grow at a rate of around 7% in the next 6 years to cross US$11 billion.
Innovations in Seed Technology to Bode Well for the Vegetable Seeds Market
Innovation in seed technology has led to development of hybridization and advent of genetically modifies seeds, thus influencing the seed industry growth. Genetically modified vegetable seeds support in multiplying yield of crops and aid in cultivation of enhanced crop variants. Apart from improving functional properties, use of genetically engineered technology also facilitates noteworthy reduction in greenhouse gas emissions. In addition, decreasing arable land coupled with the need for increased production has given an impetus to the use of genetic engineering in vegetable seeds in order to gain high returns. Such functional enhancements in vegetable seeds are an apt substitute for chemical invigoration treatments on seeds. This factor continues to remain instrumental in driving the growth of the vegetable seeds market.
Increasing Demand for Hybrid Seeds to Pave Potential Growth Pathways for Vegetable Seeds Market
The demand for hybrid vegetable seeds has witnessed significant growth owing to awareness regarding consumption of hybrid vegetables. They feature a wide range of characteristics such as good taste, better yield, adaptability, size and shape, better nutrition and flavour and higher shelf life. Planting hybrid vegetable seeds also support crop health and prevent adverse effects of environment changes, insects and crop related diseases. Moreover, they are cost efficient as they offer consistent performance during the year and have a potentially higher yield. This has resulted in farmers opting for hybrid seeds, which has provided momentous opportunities for growth of the vegetable seeds market on the global front.
Asia Pacific to Remain a Lucrative Regional Market for Vegetable Seeds
Sales of vegetable seeds across emerging economies in Asia Pacific are likely to soar at a rapid pace in the coming years. Growing agriculture sector, increasing awareness regarding consumption of vegetables and their advantages on human health and growing population is driving the need for increased production, in turn bolstering the growth of the vegetable seeds market. The consumption of vegetables across countries such as India and China has increased significantly, backed by the demand for organic food. This has resulted in an increased plantation of vegetable seeds in the region and manufacturers can expect potential growth opportunities from Asia Pacific in the years to follow.
On the other hand, Europe is also poised to showcase higher attractiveness. In view of increasing demand for organic vegetables, European Commission has mandated the adoption of organically grown vegetables, which has boosted the production of organic vegetable seeds. Moreover, in 2020, the announcement made by European Commission with regards to the mandatory use of organic seeds has augured well for seed manufacturers as the sales from their organic divisions witnessed an upswing. This is expected to translate into long terms opportunities for seed manufacturers in Europe, consequently supplementing to the growth of the vegetable seeds market.
Vegetable Seeds Market: Competitive Landscape
Few of the key players in the vegetable seeds market include BASF SE, Bayer Crop Science, Syngenta International AG, Enza Zaden, Bejo Zaden, Takii, Rijk Zwaan, East-West Seed, Groupe Limagrain, and Sakata Seed Corporation.
Global Vegetable Seeds Market is Segmented as Below:
By Cultivation Method
By Crop Type
Key Elements Included In The Study: Global Vegetable Seeds Market
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