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

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

The Thailand Vegetable Seed Market is projected to register a CAGR of 5.02%

Key Highlights

• Largest Segment by Crop Family - Unclassified Vegetables : It is the largest segment due to an increase in the consumption of leafy vegetables such as lettuce, spinach, etc., and growth of protected cultivation of leafy vegetables.
• Largest Segment by Breeding Technology - Hybrids : The high share of hybrids is associated with the increasing area under hybrids, the comparatively higher seed replacement, high yielding, and disease resistance.
• Fastest-growing Segment by Crop Family - Brassicas : In Thailand, cabbage is one of the major vegetable crops. The fastest growth is due to the short cropping season of brassicas and adaptability to wider growing environments.
• Fastest-growing Segment by Breeding Technology - Hybrids : Due to the inherent characteristics such as high vigor, resistance to biotic and abiotic stresses, high yielding, and early bearing, the hybrid segment is growing fastest.

Key Market TrendsHybrids is the largest segment by Breeding Technology.

• In 2021, hybrids’ share was more than the open-pollinated varieties in Thailand’s vegetable seed market. The demand for hybrid seeds is high due to benefits such as drought tolerance, adaptability to different soils, and higher yield than open-pollinated seed varieties.​
• In protected cultivation, the share of hybrid seeds is 100% because OPVs cannot be used in protected cultivation due to limitations such as low yields, late maturity, and inferior type. Therefore, an increase in the area under protected cultivation drives the demand for hybrids in the country.​
• In 2021, hybrids accounted for 89.0% of the vegetable seed market value in Thailand. The increase in awareness about the advantages of hybrids, such as early bearing, disease resistance, high yielding, etc., is responsible for increased hybrid usage in the country.​​
• In 2021, the hybrids under protected cultivation accounted for 0.3% of the market value. The low share is due to the requirement of high initial investments for protected cultivation. During the forecast period (2022-2028), the hybrid seeds market value under protected cultivation is projected to grow 6.8% annually due to the year-round demand for vegetables and government support for protected cultivation.​
• Open-pollinated varieties require fewer inputs, such as fertilizer and pesticides, and are less expensive and more affordable for low-income farmers. Therefore, during the forecast period, the open-pollinated varieties and hybrid derivatives segment is projected to grow with an annual growth rate of 4.4%.​​
• Due to the development of hybrids and improved open-pollinated varieties, agricultural production increased in the country. Thus, the demand for commercial seeds is expected to increase during the forecast period.​

Competitive Landscape

The Thailand Vegetable Seed Market is moderately consolidated, with the top five companies occupying 47.32%. The major players in this market are Charoen Pokphand Group (C.P. Group), Enza zaden, Groupe Limagrain, Known You Seed Co., LTD and Syngenta Group (sorted alphabetically).

Additional Benefits:

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

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