Vegetable Seed Market - Forecasts from 2024 to 2029

Vegetable Seed Market - Forecasts from 2024 to 2029

The vegetable seed market is estimated at US$8.782 billion in 2024 and is anticipated to grow at a CAGR of 6.06% to reach US$11.785 billion by 2029.

The global vegetable seeds market is estimated to grow at an expanding rate, as with the growth in the total global demand for agricultural products. Vegetable seeds are a type of agricultural seed that is commonly used for the production of vegetables. These seeds are used as reproductive material for plants. The vegetable seed contains genetic information of the parent plant, and it also has the potential to develop into a new plant. They are also a good source of vitamins and nutrition for consumption. For instance, flaxseeds offer a higher dose of calories, protein, and fiber, whereas pumpkin seeds offer monosaturated fats and omega-6 fats, among others.

Under the type segment of the global vegetable seeds market, the leafy category is estimated to attain the maximum market share. In contrast, the indoor category under the farm type segment will grow significantly. The genetically modified category of the trait segment is forecasted to grow at a faster rate as compared to the conventional category. The global vegetable seed market is estimated to witness a major increase with the increase in global populations. The growing popularity of sustainable and healthier foods among the population is also estimated to boost the demand for vegetable seeds in the market.

One of the major driving factors for the global vegetable seeds market is the increasing global population. The global population has increased significantly in recent years, which is also estimated to simultaneously increase the demand for a healthier and sustainable fruit market. Similarly, the increase in the global production of vegetables worldwide is also estimated to push the market share of vegetable seeds. The use of vegetable seeds also offers a key application in the indoor farming sector.

The major challenge to the global vegetable seeds market is forecasted to be the growing use of chemicals, fertilizers, and pesticides, among other things. The expanding use of chemicals and fertilizers worldwide is expected to reduce the impact of these seeds' efficiency and market share.

Vegetable Seed Market Drivers:

Increasing production of vegetables across the globe.

The growing demand for vegetables globally pushes the market demand for vegetables and increases the production quantity of vegetables. Expanding vegetable production across the market will grow the global vegetable seed market. India is among the biggest producers of fruit and vegetables across the globe. The National Horticulture Board, in its report, stated that in 2023-24, India produced approximately 112.62 million metric tonnes of fruits and about 204.96 million metric tons of vegetables. The report further stated that India is the largest producer of onion, ginger, and okra, among other vegetables. India is the second biggest producer of multiple types of vegetables, like potatoes, cauliflowers, brinjal, and cabbages, among others.

Similarly, the US Department of Agriculture, in its Foreign Agriculture Service report, stated that the production of tomatoes has grown significantly in Mexico in the past few years. It was also reported that in 2021, the total production of tomatoes was 3.324 million metric tons, which grew to about 3.461 million metric tons in 2022.
Rising demand for vegetables with the rise in population.

One of the major driving factors that is expected to push the global demand for vegetable seeds is the growing population. With the increasing global population, the demand for vegetables and healthier food products increases significantly. The World Bank stated that in 2021, the global population was about 7.89 billion, which increased to about 7.95 billion in 2022. The total population of the globe increased to about 8.02 billion in 2023.

With the increase in the global population, the total production of vegetables also increases significantly. The total production of vegetables grew significantly over the years, especially in the USA. The United States Department of Agriculture, National Agricultural Statistics Service report stated that in 2023, total production of the 26 estimated vegetables and melon crops was recorded at about 758 million cwt. The total value of the production of vegetable crops in 2023 was estimated at US$19.5 billion.

Vegetable Seed Market Restraint:

Growing use of fertilizers and pesticides in the agricultural sector.

The major challenge that is expected to act as a hindrance to the vegetable seeds in the global market. The global use of fertilizers, pesticides, and other chemicals reduces the production efficiency of the seeds. The International Fertilizer Association, in its regional product overview of 2022, estimated that about 24,480 thousand tons of nutrients were produced in East Asia. In contrast, about 14,469 thousand tons of nutrients and 7,129 thousand tons of nutrients were produced in Africa and West Asia, respectively.

Vegetable Seed Market Geographical Outlook
Asia Pacific is anticipated to hold a significant share of the Vegetable Seed Market.

The Asia Pacific region is estimated to attain a greater market share in the global vegetable seed market. This region is among the fastest-growing regions in the agricultural sector globally. Countries like India, China, and Malaysia are among the biggest producers of vegetables in the globe. Asia Pacific is home to some of the most populated nations, which is expected to increase the food and vegetable demand in the region. Countries like India also have a large vegetarian population, which is expected to push the regional demand for vegetable seeds. The region's high level of farming efficiency also influences multiple variables, including the climate and fertile terrain.

The Indian Government's Ministry of Agriculture & Farmers Welfare, in its report, stated that in 2023-24, India’s horticulture production was estimated at about 347.18 million tons in 2021-22, which increased to about 355.48 million tons in 2022-23. Furthermore, the Asian Pacific region is also among the biggest exporters of fruits and vegetables worldwide.

The Vegetable Seed Market Products Offered by Key Companies:

Mahindra Agri is an Indian agri-technology product that offers multiple types of seeds, like potato seeds, crop care, micro irrigation, and grapes export, among others. The vegetable crops should offer Ramaya, Virat, Bottle Gourd, Cucumber, and Imported Coriander, Karishma, among others.
Takii Europe B.V. is a part of Takii & Co., among the biggest vegetable and flower breeders. The company offers broccoli, brussels sprouts, bunching onions, cabbage, and carrots in the vegetable seed market.

The Vegetable Seed Market Key Developments:

In May 2024, Bayer AG introduced an advanced genome-editing initiative, which is estimated to enhance the nutrition of vegetables. Under the agreement, the company also aims to develop a broader variety of tomato products.
In August 2024, the Prime Minister of India launched 109 high-yielding varieties of seeds. The government's seeds aim to be climate resilient and biofortified. These crops include 34 field crops and 27 horticulture crops. In horticulture, the seeds include fruits, vegetables, plantation crops, and tuber crops, among others.

The Vegetable Seed Market is segmented and analyzed as:

By Type

Solanaceae
Brassica
Root Bulb
Leafy
Others

By Farm Type

Indoor
Outdoor

By Trait

Conventional
Genetically Modified

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others