Seed Industry in India: Market Trends, Structure, Growth, Key Players and Forecast 2023-2028

Seed Industry in India: Market Trends, Structure, Growth, Key Players and Forecast 2023-2028

The seed industry in India size reached US$ 6.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2028, exhibiting a growth rate (CAGR) of 12.43% during 2023-2028.

Seeds are small embryonic plants enclosed in a protective cover with a food reserve. They are found inside fruits and develop into new plants when grown under optimum environmental conditions. They consist of undeveloped miniature plants, endosperm, and seed coats and are formed from the fertilization of an ovule after pollination. They are good sources of fiber, healthy monounsaturated fats, polyunsaturated fats, vitamins, minerals, and antioxidants. Their regular consumption help reduce blood sugar, cholesterol, and blood pressure. They are consequently utilized for growing fruits, vegetables, cereals, and lentils and obtaining oils for cooking, margarine production, lubrication, cooking, and painting. At present, seeds are available in varied colors, shapes, sizes, weights, and specific gravity across India.

Seed Industry in India Market Trends:
The growing population and the availability of rich arable lands and various agro-climatic zones in India represent one of the key factors positively influencing the market. In addition, the commercialization of agriculture and the active collaboration of private and public sectors are propelling the growth of the seed industry in the country. Apart from this, leading seed breeders are increasingly introducing advanced digital technologies to help farmers overcome the negative impacts of pests, climate, and other environmental factors. This, in turn, is contributing to the market growth. Additionally, the integration of data science, artificial intelligence (AI) tools, advanced phenomics, and genomics in the agricultural sector is offering a favorable market outlook. Along with this, various opportunities provided by the Government of India (GoI) to encourage farmers and breeders are creating a positive outlook for the market. It is also launching various programs, such as Integrated Scheme for Oilseeds, Pulses, Oil Palm, and Maize (ISOPOM), and Rashtriya Krishi Vikas Yojana, which, in turn, is providing continuous support and offering lucrative growth opportunities to farmers and seed breeders. Moreover, increasing investments by research institutes in research and development (R&D) activities to enhance crop production, supply chain management, and quality assurance is expected to drive the seed industry in India.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the seed industry in India, along with forecasts at the country and state level from 2023-2028. Our report has categorized the market based on crop type.

Breakup by Crop Type:

Wheat
Paddy
Vegetables
Cotton
Maize
Groundnut
Soybean
Others

Paddy seeds currently dominate the market as paddy crops represent one of the popular staple foods in India.

Breakup by Region:

Uttar Pradesh
Madhya Pradesh
West Bengal
Rajasthan
Punjab
Maharashtra
Andhra Pradesh
Bihar
Karnataka
Others

Uttar Pradesh enjoys the leading position in the market as it is the most populous state in the country. Additionally, the availability of the largest arable land is impelling the market growth

Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Advanta, DuPont, Kaveri Seeds, Syngenta, Bayer, J K Seeds and Rallis India Limited.

Key Questions Answered in This Report

1. What was the size of the seed industry in India in 2022?
2. What are the key factors driving the seed industry in India?
3. What has been the impact of COVID-19 on the seed industry in India?
4. What is the breakup of the seed industry in India based on the crop type?
5. What are the key regions in the seed industry in India?
6. Who are the key players/companies in the seed industry in India?