Fruit and Vegetables Seeds Market to Reach $14B in 2022

November 11, 2016

2 Min Read
Fruit and Vegetables Seeds Market to Reach $14B in 2022
The market for fruit and vegetable seeds is expected to hit $14 billion by 2022. Image courtesy USDA NRCS Florida

Research firm MarketsandMarkets published a new report Thursday that predicts the global market for fruit and vegetable seeds will reach $14 billion by 2022, growing at a compound annual growth rate of 8.10% from 2016.

“A rise in need for food for the growing population, and factors such as demand for nutritional food, environmental friendliness, innovative production practices, new product offerings, and advent of modernization of agriculture has led to the growth of the market for [the] seed industry,” a press release announcing the report said.

The report’s authors said that several large multinational companies are expanding their position in the seed market in response to the anticipated growth in seeds – used as food and to grow crops.

Increases in population, corporate research and development activities, and the promulgation of advanced agriculture techniques is expected to make the Asia Pacific region the leader in market growth for fruit and vegetable seeds, the report posits. India, China and Indonesia were the largest market in 2015.

Leafy vegetables are projected to be the fastest growing market for seeds, according to MarketsandMarkets. Conventional seeds are forecasted to grow at the greatest CAGR during the period.

Demand for tropical fruits and vegetables is expected to climb globally, with the most significant growth in developing countries, researchers said.

The key players in the fruit and vegetable seed market for the forecast period were identified by MarketsandMarkets as including Bayer CropScience, Syngenta AG, Monsanto, Groupe Limagrain, and Sakata Seed Corp.

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