China Seed Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

China Seed Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The China Seed Market is projected to register a CAGR of 3.79%

Key Highlights

• Largest Segment by Crop Family - Grains & Cereals : China is the largest producer of rice in the globe, which is the staple food crop in the country. Corn is also a major garin crop due to its high demand for food and feed.
• Largest Segment by Breeding Technology - Hybrids : The largest share of hybrids is due to the high area under hybrids in all the crops and advantages of hybrids such as disease-resistant, high yielding, and wider adaptability.
• Fastest-growing Segment by Crop Family - Cucurbits : The fastest growth is due to an increase in the consumption demand, short duration of cucurbit crops, suitable for protected cultivation, and high export demand.
• Fastest-growing Segment by Breeding Technology - Open Pollinated Varieties & Hybrid Derivatives : It is due to the low cost of seeds, high adoption to local conditions, development of many varieties, and ease of seed production are the major factors driving the demand.

Key Market TrendsHybrids is the largest segment by Breeding Technology.

• China uses more high-yielding varieties than any other country, which increases the productivity of crops compared to other countries. With the declining population depending on agriculture, urban and semi-urban greenhouses are increasing in the country.
• In China, hybrids accounted for 72% of the total seed market in 2021, whereas open-pollinated varieties accounted for 28%. Hybrids are largely developed in rice, wheat, and vegetables such as tomatoes, cucurbits, brassicas, and leafy vegetables.
• The area under hybrids was approximately 109.1 million hectares, and the area under open-pollinated varieties was 42.4 million hectares in the country in 2021 because of the need for high yield for self-sufficiency.
• Transgenic hybrids accounted for 25% of the total hybrid seed market in China in 2021, with approval for commercial cultivation of corn, rice, soybean, and cotton. The need for high yield and preference against transgenic hybrids are driving the non-transgenic seed market in the country.
• The number of national seed breeding and production bases in China increased to 216 amid the country's seed vitalization drive, according to the Agricultural Ministry. This has been ensuring the national seed security in the country.
• China liberalized foreign investment, resulting in an increase of seed companies from 730 in 2018 to 6,393 by the end of 2020. 65% of the new companies were registered at the county level. There will be an increase in hybrids in the market in the future.
• The increase in the population, the increase in per capita consumption of vegetables, and the decrease in the arable land are the major driving factors that will boost the seed market in the forecast period.

Competitive Landscape

The China Seed Market is fragmented, with the top five companies occupying 13.44%. The major players in this market are Anhui Tsuen Yin Hi-Tech Seed Industry Co., Ltd., Beidahuang Kenfeng Seeds, Groupe Limagrain, Syngenta Group and Yuan Longping High-Tech Agriculture Co., Ltd (sorted alphabetically).

Additional Benefits:

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

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