Asia-pacific Vegetable Seed - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2030)

The Asia-pacific Vegetable Seed Market size is estimated at USD 2.75 billion in 2024, and is expected to reach USD 3.67 billion by 2030, growing at a CAGR of 4.93% during the forecast period (2024-2030).

Key Highlights

• Solanaceae is the Largest Crop Family: It is the largest segment due to the higher area under cultivation of tomato and chilli in the region and China is the major producer of tomatoes around the globe.
• China is the Largest Country: It is the largest producer of vegetables such as tomato, onion, cabbage, chilli, etc. in the region and accounts for around 30% of the global area under chilli cultivation.
• Roots & Bulbs is the Fastest-growing Crop Family: The fastest growth of the roots and bulbs is associated with the development of true seeds in case of potato and garlic, which is the emerging market in the future.
• Myanmar is the Fastest-growing Country: It is the fastest growing segment due to an increase in the area under cultivation which is associated with the surge in the vegetable demand and higher adoption of hybrids.

Asia-pacific Vegetable Seed Market Trends

Hybrids is the largest Breeding Technology

• In Asia-Pacific, the hybrid seed segment dominated the market in terms of volume and value, holding 70.5% of the total vegetable seed market in 2021. The hybrid vegetable seed market has increased by 28.6% during 2016-2021, mainly due to the high adoption of hybrid seed varieties in large counties like China, India, Bangladesh, etc.
• Of the total hybrid vegetable seeds, Solanaceous and Cucurbitaceous vegetables contributed a large share, i.e., almost 55.1% of the total hybrid vegetable value in the region. This large contribution was mainly due to an increase in seed replacement rate and rising awareness about the high-yielding varieties in the region.
• The open-pollinated varieties and hybrid derivatives held a market share of 29.5% in terms of value in 2021. The low share was mainly due to an increased preference for high-yielding and disease-resistant hybrids.
• China and India were the major countries in the region, with 56.3% of the total hybrid vegetable market, mainly due to the presence of high cultivatable areas, high consumer demand, and high usage of commercial hybrids.
• In Asia-Pacific, China and India accounted for 54.7% of the open-pollinated variety market in terms of value. Open-pollinated varieties require fewer inputs, such as fertilizer and pesticides, and are less expensive and more affordable for low-income farmers. They also reduce the reliance on hybrid seed imports, thus boosting the market in the region.
• Therefore, with increasing food demand and the implementation of commercial hybrid varieties, hybrid breeding technology is likely to dominate the market during the forecast period.

China is the largest Country

• In 2021, Asia-Pacific's market share in the global vegetable seed market was about 38.5%. China is a leading vegetable producer worldwide due to the presence of favorable weather conditions and high demand for vegetables domestically and globally.
• In Asia-Pacific, China dominated the vegetable seed market value by 32.3% of the market share in 2021, followed by India with 23.5%, Japan with 8.5%, and Indonesia with 7.4%. According to the FAO statistics, China led the world's vegetable production with 596.0 million metric ton in 2020, accounting for 51.9% of the global output.
• In India, the share of vegetable seeds is expected to increase during the forecast period due to the increasing demand for vegetables and growing awareness about the health benefits of vegetables.
• Australia has a diverse agricultural sector, where vegetable farming is an important food source. It accounted for 4.6% of the Asia-Pacific vegetable seed market value in 2021. The major vegetable crops grown in the country are onion, peas, pumpkin, squash, tomato, etc.
• In Japan, urban agriculture is developing as a new trend in agriculture. As agricultural land faces constraints, urban agriculture, such as indoor and vertical farming practices, has been scaling up its operations. For instance, around 74% of tomatoes and 61% of cucumbers and gherkins are cultivated under protected cultivation.
• Therefore, factors such as an increase in the cultivation area, new technological advancements, and high global demand will help to increase the growth of the vegetable seed market in the region during the forecast period.

Asia-pacific Vegetable Seed Industry Overview

The Asia-pacific Vegetable Seed Market is fragmented, with the top five companies occupying 27.38%. The major players in this market are Bayer AG, East-West Seed, Groupe Limagrain, Rijk Zwaan Zaadteelt en Zaadhandel BV and Syngenta Group (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support