Vegetable Seeds Global Market Report 2024

The vegetable seeds market size has grown rapidly in recent years. It will grow from $10.92 billion in 2023 to $12.15 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth observed in the historic period can be attributed to several factors, including global population growth, urbanization, shifts in lifestyles, the globalization of food supply chains, the expansion of the vegetable processing industry, and increased consumer demand for exotic vegetables.

The vegetable seeds market size is expected to see rapid growth in the next few years. It will grow to $18.48 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The anticipated growth in the forecast period is expected to be driven by the expansion of organic farming, opportunities in global trade and exports, the development of water-efficient crop varieties, government subsidies and incentives, and consumer preferences favoring locally produced goods. Major trends expected during this period include the emergence of disease-resistant and high-yielding hybrid crop varieties, advancements in biotechnology for trait enhancement, customization for urban and container gardening, and the integration of precision agriculture technologies.

The increasing inclination toward organic food products is set to bolster the vegetable seeds market. Organic foods, devoid of synthetic chemicals and GMOs, experienced heightened demand during the COVID-19 pandemic, perceived as healthier and immune-boosting by consumers. The Organic Trade Association reported a $1.4 billion surge in organic sales in 2021, exceeding $63 billion, with food sales contributing over 90% and reaching $57.5 billion (a 2% increase). Non-food sales also rose to $6 billion, marking a 7% increase. This escalating demand for organic food products drives the growth of the vegetable seeds market.

The increasing preference for healthier food choices is set to propel the vegetable seeds market. As consumer awareness about healthy diets rises, vegetable seeds offer a means for individuals to grow nutrient-rich produce at home. The British Nutrition Foundation reported that 62% of Britons adjusted their diets for improved health in 2021. This growing preference for healthier food options drives the expansion of the vegetable seeds market.

The vegetable seeds market is witnessing the emergence of organic vegetable seeds as a prominent trend to meet the escalating demand for organic produce. Bayer AG, a prominent German pharmaceutical and life sciences company, under its new vegetable Bayer label, announced the expansion of its vegetable seed offerings to include organically produced seeds in October 2021. The launch focuses on certified organic production of essential greenhouse commodities such as tomato, sweet pepper, and cucumber. Scheduled for availability in early 2022, this expansion targets high-growth organic markets such as Canada, the United States, Mexico, Spain, and Italy, with future expansion contingent upon market demand.

Pioneering developments in the vegetable seeds market focus on innovative products such as disease-resistant seeds to bolster profitability. Chia Tai Company Limited, a prominent Thailand-based agricultural enterprise, introduced Chinese Bitter Gourd Vista Plus in August 2021. This novel seed variety exhibits disease resistance, ensuring abundant harvests and substantial fruits while addressing challenges encountered by Chinese bitter gourd cultivators. The seeds yield improved mass, expanded dimensions, and an upright structure, promising economic gains for farmers. Extensive quality assessments spanning 24 months validate the seed's efficacy, aiming to optimize productivity in bitter gourd cultivation.

In July 2023, Syngenta Vegetable Seeds, a Swiss agricultural technology company, completed the acquisition of Feltrin Sementes for an undisclosed sum. This acquisition marks a significant expansion of Syngenta's vegetable seed portfolio, extending its reach to growers across more than 40 countries. Feltrin Sementes, a Brazil-based vegetable seed company, specializes in serving smallholder growers and home gardeners. With a diverse offering of over 500 varieties across 50 crop segments, Feltrin Sementes enhances Syngenta's capacity to cater to a broader global market.

Major companies operating in the vegetable seeds market report are BASF SE, Syngenta AG, JK Agri Genetics Limited, United Phosphorous Ltd., Bayer FMC Corporation, FMC Corporation, Groupe Limagrain Holding SA, Vilmorin & Cie SA, Rijk Zwaan Zaadteelt en Zaadhandel BV, Bayer CropScience Ltd., Sakata Seed Corporation, Yuan Longping High-Tech Agriculture Co. Ltd., Kaveri Seeds Company Pvt., De Enkhuizer Zaadwinkel, East-West Seed Company Ltd., W. Atlee Burpee & Co., Seedway LLC, Johnny's Selected Seeds, Stokes Seeds Inc., Bejo Zaden BV, Abbott & Cobb Inc., Harris Moran Seed Company, Advanta Seeds - UPL, Nuziveedu Seeds Limited, Vikima USA Inc., Emerald Seed Company, Territorial Seed Company, Bajo Foods Private Limited, Takii & Co. Ltd., Mahyco Private Limited, F.W. Sawatzky Ltd., Namdhari Seeds Pvt. Ltd.

Asia-Pacific was the largest region in the vegetable seeds market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vegetable seeds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the vegetable seeds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of vegetable seeds include open-pollinated and hybrid varieties. Hybrid seeds result from intentional cross-pollination between different plant species, aiming to generate offspring with favorable traits from both parent plants. These seeds cover various crop types such as Solanaceae, root and bulb vegetables, cucurbits, brassicas, leafy greens, and others, available in genetically modified and conventional seed forms. Vegetable seeds are further classified into organic and inorganic variations.

The vegetable seeds market research report is one of a series of new reports that provides vegetable seeds market statistics, including vegetable seeds industry global market size, regional shares, competitors with a vegetable seeds market share, detailed vegetable seeds market segments, market trends and opportunities, and any further data you may need to thrive in the vegetable seeds industry. This vegetable seeds market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The vegetable seeds market consists of sales of lettuce, cabbage, turnip greens, and celery. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.