Southeast Asia Seed Sector Analysis - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Southeast Asia Seed Sector Analysis - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The seed market in Southeast Asia is projected to register a CAGR of 6.4% during the forecast period (2020-2025). Rice is the major crop grown in the region, with an acreage of 50.3 million hectares under the crop.

Key Highlights

• Farmers are increasingly adopting newer technologies for the cultivation of various crops in the region. This has resulted in an increase in the seed replacement and hybridization rates and therefore, has improved the prospects of the seed industry.
• In addition to rice, the vegetable seed segment is another fast-growing segment of the seed market. Major vegetable growing countries in the region include Indonesia, Vietnam, and the Philippines. Vegetables are grown over 39.6 million hectares in the region.

Key Market TrendsRice Seed Dominates the Market

Rice is the major staple food of the entire population in the Southeast Asian region. The climatic and soil conditions in the region are highly conducive to the cultivation of rice. Rice is grown over 50.3 million hectares in the region and this puts the Southeast Asian region the third-highest rice-growing region in the world after China and the Indian sub-continent. The rice seed market in the Southeast Asian region has been expanding on the back of increased adoption of technology such as the usage of hybrid seeds. However, over 55% of the rice-growing areas in the region are devoid of irrigation facilities and the cultivation is completely rainfed, thereby reducing the yields and leading the farmers to reduce investments in rice farming.

Thailand dominates the South East Asia Seed Market

The favorable factors making Thailand an attractive hub for seed production are good climate, which ensures seed production all year, skilled farmers, and excellent connectivity. As of 2015, there were 184 seed companies in Thailand, out of which only 34 seed companies had seed research and development units. By 2020, Thailand seed sector envisages to produce good quality of rice, leguminous crops, and forage crop seeds, to meet the global demand and to increase its export value through the export of Thai developed varieties. Thailand is the second biggest exporter and it exports its vegetable seeds to India, Vietnam, and China. Outside Asia, the main importers of Thai vegetable seeds are the United States, Netherlands, and France. The majority of Thai corn seed is exported to Vietnam, followed by Myanmar, Pakistan, Indonesia, and Sri Lanka.

Competitive Landscape

South East Asia Seed Market is fragmented, with various small and medium-sized companies and a few big players, resulting in stiff competition in the market. The development of regional markets and local players in different parts of the world is the major factor for the fragmented nature of the market.

Additional Benefits:

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

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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