With the burgeoning rise in population, the demand for fresh fruits and vegetables is also increasing Parallelly. Besides, growing health consciousness among consumers also generate massive demand for nutritious food items. Within such a context, the global fruits & vegetable seeds market is rapidly expanding. As per a detailed research study conducted by Market Research Future (MRFR), The Global Fruits & Vegetable Seeds Market is likely to expand at a CAGR of 7.9% over the forecast period of 2019-2024. In 2018, the market stood at USD 10.25 Bn.
Surging demand for healthy food items along with adoption of modern agricultural practices are key factors driving the growth of the market. Other factors supporting the growth of the market include increase in seed replacement rate and surging adoption of GM crops. However, the market growth might be hindered by fluctuating climatic conditions and regulations governing the cultivation of GM crops. Nevertheless, the market is gaining opportunities from the heightened demand for exotic fruits & vegetables across the globe.
The Fruits and Vegetable Seeds has been segmented based on type, trait, and category.
By type, the fruit and vegetable seeds market has been segmented into brassica, cucurbits, Solanaceae, amaryllidaceous, citrus family, and others. The brassica segment has been further segmented into cauliflower, cabbage, broccoli, and other brassica. The cucurbits segment has been further segmented into cucumber, melons, squash, and others. The Solanaceae segment has been further segmented into tomato, eggplant, potato, and others. The Amaryllidaceous segment has been further segmented into onion, garlic, and others. The Citrus family segment has been further segmented into orange, lime, and others.
The Solanaceae segment is anticipated to capture the largest share of the market over the forecast period. Vegetables of the Solanaceae category are extensively for various applications due to which the segment is witnessing heightened demand. The leafy fruits and vegetables segment is also anticipated to register the highest CAGR over the forecast period. Leafy fruits and vegetables are aligned with numerous health benefits and surging awareness among consumers regarding the same is boosting the growth of the segment.
Region-wise, the fruits & vegetable seed market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The global fruits & vegetables market is being dominated by APAC. Accelerated agricultural activities in countries such as China, Japan, and India are contributing to the growth of the market. Moreover, cultivation of diversified range of crops can also be credited for the market growth.
North America is expected to be the fastest growing fruits & vegetable seeds market. Augmenting demand as well as cultivation of fruits and vegetables in the region is supporting the growth of the market. The established food & beverage industry is also supporting the growth of the market.
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Mahindra Group (India), Advanta Limited (India), Groupe Limagrain Holding (France), Bayer AG (Germany), Rijk Zwaan Zaadteelt en Zaadhandel B.V (Netherlands), Western Bio Vegetable Seeds Ltd (India), Syngenta AG (Switzerland), Sakata Seed Group (US), Maharastra Hybrid Seeds Company Private Limited (Mahyco) (India), and TAKII & CO., LTD. (India) are the key players in the global fruits & vegetable seeds market.
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