”, the market is expected to reach $ 8970.308 million in 2023 with a CAGR of 6.9%.
Europe dominates the Fruit and Vegetable Seeds Market during the forecast period
Europe is expected to reach $3037.0104 million by 2023. This is attributed to the high demand for good quality, high performing seeds. Growth of urbanization in the region, along with an increase in the population and growing demand for organic food products will amplify the revenue in Europe.
Asia Pacific is expected to be the fastest growing market with China and India with increasing plantation of fruits and vegetables. Organic agriculture dominates the market in Asia Pacific. This segment projects a heightened industry growth in the Asia Pacific region.
US has also become the pioneer in agriculture. Its productivity is attributed to the agricultural policies and increasing awareness among farmers regarding the latest technologies like environmental home protection. The growing adoption of genetically modified farming and combat pesticide have been the main drivers for the fruit and vegetable seeds in the region. US is the second largest producer of lettuce and spinach. It is the third largest producer of onion, tomato, and carrot, and watermelon.
Selected Regulatory Analysis done in the full Report:
Solanaceae seeds family are estimated to have the largest market share of 42%, and root and bulb seeds have a share of 19%, closely followed by cucurbit seeds, with a market share of 17%. The brassica segment is estimated to have a brisk growth which includes cabbage, cauliflower, and broccoli. The demand for Brassica is high in Asian and European countries.
Solonaceae is a family of flowering plants, also known as nightshade. It includes more than 3,000 species of vegetables. The major fruit bearing vegetables under this family includes tomatoes, eggplant and pepper. This class of plants is present near the equator or in tropical regions like South America, Central America, Africa and Southeast Asia. The members of this family are annuals, biennials and perennials, and are characterized by solitary or clustered and fused petal flowers.
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Excerpts Growth Factors Mentioned in the Full Report:
Growth of global population and the need for higher yields along with decreasing arable land, drive the Fruit and Vegetable Seeds Market.
Increasing consumption of fruits and vegetables and the demand for organic and nutritional foods amplifiy the revenue for the market. Benefits of consuming fruits and vegetables is also an asset for the industry.
Developing economies in Africa, Asia Pacific, and Europe have more fruit and vegetable seeds demand according to Food and Agriculture organization. Europe holds a major share in the market in terms of revenue.
Growth in urban farming activities like aquaponics and hydroponics in developed countries such as the U.S., Germany, the UK, and Canada boosts the demand for the seeds for the production of fruits and vegetables in households.
Production of vegetables is a remunerative business. A huge income can be produced from small land holdings. This is estimated to increase the penetration of the market for the next few years as vertical farming, farming as a hobby grows.
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Key Players of the Fruit and Vegetable Seeds Market:
Monsanto specializes in the production of seeds for crops such as vegetables and oil seeds. Biotechnology traits are developed here to help farmers to eradicate insects and weeds. The company also produces herbicides for large scale applications. Seminis, which is a subsidiary of Monsanto, develops fruit and vegetable seeds. Syngenta, on the other hand, produces seeds such as corn and soybean and vegetable seeds. It manufactures herbicides, fungicides, and insecticides for bigger applications. Groupe Limagrain Holdings SA produces seeds for tomato, melon, pepper, carrot, and others.
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