Philippines Rice Seed - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2030)

The Philippines Rice Seed Market size is estimated at USD 556.36 million in 2024, and is expected to reach USD 686.49 million by 2030, growing at a CAGR of 3.57% during the forecast period (2024-2030).

Key Highlights

• Open Pollinated Varieties & Hybrid Derivatives is the Largest Breeding Technology: In Philippines, rice is mainly cultivated by open pollinated varieties and hybrid derivatives due to low cost of seeds, low input requirement, and non-popularity of hybrids.
• Hybrids is the Fastest-growing Breeding Technology: The fastest growth of hybrids is expected mainly due to the high yield and commercialization of transgenic golden rice in the country, which have great health benefits.

Philippines Rice Seed Market Trends

Open Pollinated Varieties & Hybrid Derivatives is the largest Breeding Technology

• In the Philippines, open-pollinated varieties and hybrid derivatives dominated the rice seed market compared to hybrids rice seeds in 2021. They held a share of around 89.9%, whereas hybrid seeds held 10.1% in the country.
• Despite government strategies to convert the cultivated land area to hybrid, its penetration rate is very low, and the adoption rate in the country is below 15%.
• Open-pollinated varieties are heavily planted in areas where farmers cannot afford the high cost of hybrid seeds. The main benefit of OPVs is that farmers do not have to buy seeds for subsequent plantings and can save on input costs as these seeds require fewer fertilizers and are less expensive than hybrid seeds.
• Hybrids accounted for 10.1% of the country's rice seed market value in 2021, which is projected to increase its share to 11.2 in 2028. The increasing hybrid share is mainly due to the need to increase production to meet the rising demand for consumption in the country.
• The transgenic rice grown commercially in the Philippines is golden rice (GR), which accounted for 3.5% of the country's hybrid rice seed market in 2021. Golden rice (GR) is a transgenic rice variety that is an effective source of vitamin A.
• The transgenic rice segment is projected to record a CAGR of 8.3% in the Philippines during the forecast period (2022-2028). The high growth rate is mainly due to the rising demand for golden rice, as the Philippines is the first country in the world to grow this variety commercially.
• With increasing efforts from the government to increase the penetration rate, the hybrid rice seed market is anticipated to grow during the forecast period.

Philippines Rice Seed Industry Overview

The Philippines Rice Seed Market is fragmented, with the top five companies occupying 39.74%. The major players in this market are Bayer AG, Corteva Agriscience, SL Agritech Corporation (SLAC), Syngenta Group and Yuan Longping High-Tech Agriculture Co., Ltd (sorted alphabetically).

Additional Benefits:

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