Bangladesh Seed Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Bangladesh Seed Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Bangladeshi seed market is projected to register a CAGR of 6.2% during the forecast period 2022-2027.

The COVID-19 pandemic seriously impacted the production, certification, distribution, and cost of seeds, which play a key role in the agricultural sector in Bangladesh. International trade suffered due to slow or a lack of transportation, labor shortages, and a contraction in the market for plants and seeds. The classification of seeds as "essential" by the government helped mitigate the damage caused by the pandemic by ensuring the continuous movement of seeds.

Being dense in population, Bangladesh highly depends on agriculture for food security and employment. According to the FAO, Bangladesh leads vegetable production globally. The seed industry of Bangladesh comprises both the public and private sectors. Bangladesh Agricultural Development Corporation (BADC), Bangladesh Agricultural Research Institute (BARI), Bangladesh Rice Research Institute (BRRI), Bangladesh Jute Research Institute (BJRI), and the Department of Agricultural Extension (DAE) are some government agencies responsible for the production and supply of commercial seeds in the market.

Rice, wheat, and maize are the country’s major cereal crops, and the annual seed demand for each of these three crops is about 314, 72, and 3.3 thousand metric ton, respectively. Though the public sector dominates the self-pollinating seed crops like rice and wheat, private players play a major role in supplying seeds like maize and other hybrid seeds.

Key Market TrendsYield Lagging of Self-pollinated Varieties

Rice and wheat are some major crops cultivated in Bangladesh, and with the increase in population every year, they must grow adequately to meet demand and supply. It has been evident that the yield progress of wheat and rice was comparatively lower than expected compared to that of the maize crop in 2020. Hence, private players were pushed to invest in high-yielding rice and wheat seeds to address the food security concerns of the Bangladeshi government.

Increasing Demand for Hybrid Seeds

Maize, unlike rice and wheat, is a non-noticeable crop. Hence, it is easier for private players to enter the maize market. Bangladesh imports around 90% of hybrid maize seeds from India every year. However, the Bangladeshi government is boosting in-house hybrid maize seed production through its agricultural policy. Private players can utilize third-party R&D facilities to figure out the production of in-house hybrid maize seeds. Also, private players entering the market with their own R&D facility will have an additional advantage in entering the hybrid seed market as it would help them keep costs under control.

Competitive Landscape

The overall Bangladeshi seed market is fragmented because of the presence of local players marketing certified commercial seeds. However, there are two major segments, namely, public and private, among seed manufacturers and suppliers. The major players in the seed market of Bangladesh are BRAC Seed and Agro Enterprise, Lal Teer Seed, Advanta Seeds Pty Ltd, Bayer Crop Science, and Bioseed.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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