VEGETABLE SEED MARKET ANALYSIS

Vegetable Seed MarketSize and Trends

The global vegetable seed market size was valued at US$ 7,255 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030. Growing investment by private sector for vegetable seed market coupled with the increasing demand for fresh vegetables are key factor propelling market growth. Moreover, advancement in the vegetable seed technology and availability of more variety in crop are other key factors propelling market growth. Furthermore, favorable government policies is further anticipated to augment market growth.

Regionally, North America is expected to dominate the global vegetable seed market over the forecast period owing to the growing demand for high-yielding, hybrid, and disease-resistant varieties of vegetables in the region. The vegetable seed market in the United States was valued at US$ 1,277.6 million in 2022, and it is expected to reach US$ 1,830.33 million in 2030, registering a CAGR of 4.6% during the forecast period.

Asia pacific is also expected to witness fastest growth in the global market over the forecast period owing to the high consumption of fresh vegetables in countries like China and India. According to the Coherent Market Insights analysis, the seed market in China is the second-largest in the world, after the United States, and accounts for 21% of the global market share. A total of 6,665 new vegetable varieties were registered by the vegetable seed companies in China in 2017. The country requires almost 400,000 metric tons of vegetable seeds annually to fulfill its vegetable requirements.

The vegetable seed market in India was valued at US$ 655.2 million in 2022, and it is expected to reach US$ 931.76 million in 2030, registering a CAGR of 4.5% during the forecast period.

Global Vegetable Seed Market Trends:

High-nutrition fruits and vegetables gaining traction in market

The advancement in vegetable seeds is a result of the rising demand for high-nutrition fruits and vegetables. Analysts believe that the demand for these vegetables will continue to grow as more people seek out healthy and nutritious foods. Vegetables are rich in vitamins, minerals and fiber, which are essential for healthy living. Vegetables have a significant role in maintaining good health and preventing chronic diseases like cancer. They also help prevent the onset of age-related diseases, such as heart disease, and are a key source of protein and essential amino acids in the diet.

Incorporation of artificial intelligence (AI) in seed breeding is a recent trend

Some seed companies are using artificial intelligence (AI) to make breeding decisions for their vegetable crops. This technology allows the company to collect data about plants, their growing conditions, and what they are doing at each stage of the plant's life cycle. These data can then be used to improve the plant's performance and help it produce healthier, more productive vegetables.