PUBLISHER: The Business Research Company | PRODUCT CODE: 1470341
PUBLISHER: The Business Research Company | PRODUCT CODE: 1470341
A seed refers to the matured and fertilized ovule enclosed in a seed coat, capable of producing a new plant upon germination. These guarantee the genetic and physical integrity of the crops, provide the required plant population and provide the plants with the ability to survive harsh situations.
The fruit and vegetable seeds market consists of sales of seeds by entities (organizations, sole traders and partnerships) that are specifically intended for the cultivation of fruit and vegetable plants. These seeds are designed to germinate and develop into plants that bear edible fruits or vegetables. The primary purpose of fruit and vegetable seeds is to ensure the genetic and physical integrity of the crops, establish the required plant population and confer resilience to adverse environmental conditions.
The global fruit and vegetable seeds market was valued at $7,613.03 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 5.0%.
Rising Demand For Genetically Modified (GM) Crops
The rising demand for genetically modified crops, which have improved quality, drove the growth of the fruit and vegetable seeds market during the historic period. Developing countries are focusing on improving agricultural output to expand their export markets, improve domestic living conditions and address food insecurity. Genetic modification (GM) in crops is one of the techniques being increasingly adopted to achieve these goals. GM crops can offer several benefits, such as higher yields, improved resistance to pests and diseases and enhanced nutritional content. For instance, in October 2023, the government of China approved dozens of genetically modified maize and soybean seed varieties for planting, a ground-breaking move that could eventually enhance production and lessen reliance on foreign supply. Also, in May 2023, Bioceres Crop Solutions, an Argentina-based integrated biotech company of crop productivity solutions, announced plans to extend sales of its HB4 wheat seeds-which leverage the power of genetically modified organisms (GMOs)-to dozens of seed companies to increase future sales of the drought-tolerant product. The announcement of collaborating with additional seed multipliers-companies that supply farmers with seeds-signals a step forward in the acceptance of Bioceres' exclusive HB4 wheat. Therefore, the rising demand for genetically modified (GM) crops supported the growth of the fruit and vegetable seeds market.
Development Of New Plant Breeding Techniques To Increase Crop Yield
Companies in the market are focusing on developing new plant breeding techniques to increase crop yield. Plant breeding is the process of creating new plant varieties with desirable characteristics through controlled mating and selection. For example, in March 2023, Corteva Agriscience, a US-based agriculture and seed company, introduced a new plant breeding innovation to fight against corn disease. The innovation uses a novel gene editing technology that will add another layer of protection for hybrid corn and protects it from disease and is a new and innovative plant breeding procedure. This technology bolsters disease tolerance and minimizes production stress. It could also result in healthier plants and increase yield potential even further.
The global fruit and vegetable seeds market is concentrated, with large players operating in the market. The top ten competitors in the market made up to 44.71% of the total market in 2022.
Fruit And Vegetable Seeds Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global fruit and vegetable seeds market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for fruit and vegetable seeds? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The fruit and vegetable seeds market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the fruit and vegetable seeds market; and compares it with other markets.