Vegetable Seeds Market Report by Type (Open Pollinated Varities, Hybrid), Crop Type (Solanaceae, Root & Bulb, Cucurbut, Brassica, Leafy, Others), Cultivation Method (Protected, Open Field), Regions and Company Analysis 2024-2030

Vegetable Seeds Market Size

The vegetable seed market was US$ 7.55 billion in 2023 and is expected to reach US$ 11.78 billion by 2030, with a CAGR of 6.56% during the forecast period (2024–2030).

Vegetable Seeds Market Analysis

Vegetables are essential for a balanced diet, providing crucial nutrients and reducing the risk of health issues. Including nutrient-rich, non-starchy veggies like lettuce and spinach helps with weight management. Farmers worldwide are searching for high-quality vegetable seeds to meet the growing demand for varied nutrition. According to the World Health Organization, 1.7 million fatalities worldwide result from the insufficient intake and incorporation of vegetables into the diet. This growing awareness of health benefits is expected to boost demand for vegetables and, subsequently, the vegetable seed market.

Growing merger and acquisition in the market

• In 2023, BASF acquired ASL, a melon breeding company, to expand its breeding and seed production in France.
• Bayer CropScience acquired De Ruiter Seeds in May 2023. The acquisition will help the company expand its vegetable seed business in Europe.
• May 2023, Syngenta Crop Protection, a global leader in agricultural innovation announced its acquisition of Macspred Australia, a specialist in weed management for the forestry, roads, rail, utilities and infrastructure sectors.
• In 2023, Crystal acquired the Sadanand portfolio of Cotton Seeds from Kohinoor Seeds.
• July 2023, Syngenta Vegetable Seeds announced that it has completed the acquisition of Feltrin Sementes, a leading Brazilian vegetable seed company serving smallholder growers and home gardeners in 40+ countries.
• July 2023, Limagrain Participations SAS completed the acquisition of a 28.78% stake in Vilmorin & Cie SA.
• Sept 2023, Bayer announced the expansion of its leading Fruits and Vegetables business to strawberries. With the acquisition of the strawberry assets of UK-based NIAB, Bayer will expand its focus on professional protected culture growers to meet the growing consumer and retail demand for year-round, high-quality strawberries and will also have varieties available for open field conditions.
• Oct 2023, Sakata Vegetables Europe, part of Japan’s Sakata Seed Corporation, has acquired Sana Seeds, a Dutch company specialised in breeding, production and sale of high-quality cucumber varieties.
• Oct 2023, Sakata Seed Corporation entered into an agreement through its South American wholly-owned subsidiary Sakata Seed Sudamerica LTDA.

Global Vegetable Seed Market Trends:

Incorporating artificial intelligence in seed breeding is a recent trend

Seed companies use AI to make breeding decisions for vegetable crops. The technology collects data about plants, their growing conditions, and their life cycle stages to improve plant performance and increase the production of healthier and more productive vegetables. In Jan 2024, Syngenta Vegetable Seeds' TomatoVision greenhouse in Maasland, Netherlands, will use AI to capture more accurate data and trial AI solutions from Source.

Expanding Vegetable Production in Developing Countries

The demand for vegetables is increasing in developing countries, leading to an expansion in the area dedicated to growing them. This expansion offers a bright future for the vegetable seed market in places like China and India, presenting an opportunity for multinational corporations. The markets in developing nations still need to be tapped, and the demand for disease-resistant varieties is rising. Compared to developed countries, these nations have lower labor and farmer costs, offering a chance to increase profit realization by decreasing production costs. The market's growth is expected to continue throughout the forecast period, providing opportunities for current players to boost growth. According to the FAO, tomatoes and potatoes are the most widely grown vegetables worldwide. India, South Korea, and China are the leading potato growers.

Regional Analysis

Asia Pacific is leading the global vegetable seed market

Asia-Pacific is a significant revenue contributor to the vegetable seed market and is expected to grow during the forecast period. This growth is fueled by a growing agriculture sector, increasing awareness about the health benefits of vegetables, and booming population figures, leading to increased vegetable production in India and China.

China's new Seeds Law excludes all vegetables from variety registration. The National Vegetable Industry Development Plan aims to increase greenhouses and protected cultivation areas to boost the country's vegetable seed industry. China is the top vegetable producer, with over 51% globally, followed by India. The production difference between them was over 450 million metric tons in 2021 due to China's investment in hybrid seed production, breeding, and R&D after the Seeds Project.

India is the second-largest vegetable producer in the world, and this growth is due to the government's proactive policies and initiatives, as well as advancements in crop production technologies and management practices.

Global Vegetable Seeds Market Company News

Prominent seeds companies are BASF A.G., Syngenta AG, Groupe Limagrain, Bayer AG, Sakata Seeds Corporation, UPL Limited, Gansu Dunhuang Seeds Co. Ltd, and JK Agri Genetics Ltd.

In March 2023, RijkZwaan introduced RijkZwaan Next Generation, a vegetable seed brand tailored to the needs of modern growers.

Takii Seeds launched Takii Future, a high-yielding and disease-resistant vegetable seed brand, in April 2023.

Syngenta launched Nuseed in July 2023, a new vegetable seed brand designed to meet the needs of growers worldwide.

In November 2022, Bayer acquired Targenomix, a biotech startup based in Germany.

In September 2022, Syngenta Crop Protection's seed care business partnered with Bioceres Crop Solutions to offer customers advanced biological seed treatment solutions worldwide.

Type – Market breakup in 2 viewpoints:

1.    Open Pollinated Varities
2.    Hybrid

Crop Type – Market breakup in 6 viewpoints:

1.    Solanaceae
2.    Root & Bulb
3.    Cucurbut
4.    Brassica
5.    Leafy
6.    Others

Cultivation Method – Market breakup in 2 viewpoints:

1.    Protected
2.    Open Field

Country – Market breakup of 25 Countries Covered in the Report:

1.    North America

1.1    United States
1.2    Canada

2.    Europe

2.1    France
2.2    Germany
2.3    Italy
2.4    Spain
2.5    United Kingdom
2.6    Belgium
2.7    Netherland
2.8    Turkey

3.    Asia Pacific

3.1    China
3.2    Japan
3.3    India
3.4    South Korea
3.5    Thailand
3.6    Malaysia
3.7    Indonesia
3.8    Australia
3.9    New Zealand

4.    Latin America

4.1    Brazil
4.2    Mexico
4.3    Argentina

5.    Middle East & Africa

5.1    Saudi Arabia
5.2    UAE
5.3    South Africa

All the Key players have been covered from 3 Viewpoints:

•    Overview
•    Recent Development
•    Revenue Analysis

Company Analysis:

1.    BASF A.G.
2.    Syngenta AG
3.    Groupe Limagrain
4.    Bayer AG
5.    Sakata Seeds Corporation
6.    UPL Lmt.
7.    Gansu Dunhuang Seeds Co., Ltd.
8.    JK Agri Genetics Ltd.

Report Details: