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Vegetable Seeds Market Size to Reach USD 10.48 Billion by 2027; Increasing Adoption of Hybrid Seeds

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Prapti Hinge
Vegetable Seeds Market Size to Reach USD 10.48 Billion by 2027; Increasing Adoption of Hybrid Seeds

The global vegetable seeds market is expected to gain impetus from the increasing awareness regarding the benefits of consuming vegetables in developing and developed countries. The World Health Organization (WHO) declared that lower consumption of fruits and vegetables causes around 1.7 million deaths worldwide per year. This information is given by Fortune Business Insights™ in a published report, titled, “Vegetable Seeds Market Size, Share & COVID-19 Impact Analysis, By Type (Open Pollinated Varieties and Hybrids), Crop Type (Solanaceae, Root & Bulb, Cucurbit, Brassica, Leafy, and Others), Cultivation Method, and Regional Forecast, 2020 – 2027.” The report further states that the vegetable seeds market size was valued at USD 5.78 billion in 2019 and is projected to reach USD 10.48 billion by 2027, exhibiting a CAGR of 7.8% during the forecast period.

COVID-19: No Disruptions in Supply Chain as Fruits & Vegetables are Essential Commodities

According to the International Seed Federation (ISF), the outbreak of the COVID-19 pandemic has had a lesser impact on the seed industry. This occurred because fruits and vegetables are considered to be essential items. Countries with the largest number of COVID-19 cases are also receiving vegetable seeds efficiently so that the farmers can grow more crops to cater to the increasing demand. Our extensively researched reports will help you to find the right strategy to boost sustainability and prevent food shortages amid this pandemic.

Drivers & Restraints-

Rising Inclusion of Vegetables in Diet to Propel Growth

Nowadays, various companies are developing vegetable hybrids to suit the requirements of farmers and consumers. Such vegetables possess a broad range of qualities, such as shelf-life, flavor, shape, color, yield, taste, nutrition, and adaptability. Hence, hybrid vegetable seeds are experiencing more popularity, as compared to the non-hybrid seeds.

Moreover, the rising inclusion of vegetables in one’s diet is helping to combat malnutrition. In many developing countries, the nutritional richness of vegetables is often considered to be a cost-effective remedy for nutritional deficiencies. However, climate change is a major issue for agricultural production worldwide. It may hamper the vegetable seeds market growth in the coming years.

Segment-

Solanaceae Segment to Grow Rapidly Backed by Rising Investments by Key Companies

Based on crop type, the Solanaceae segment earned 41.88% in terms of vegetable seeds market share in 2019. This growth is attributable to the rising investments by reputed vegetable seeds manufacturers in developing premium-quality seeds, such as hybrid tomato. The segment mainly consists of pepper, eggplant, potatoes, and tomatoes.

Regional Analysis-

Asia Pacific to Remain at Forefront Backed by Expansion of Agriculture Industry

Geographically, in 2019, Asia Pacific procured USD 2.86 billion in terms of revenue. The region is set to retain its dominant position throughout the forthcoming years stoked by the increasing area under horticultural crops in the region. Apart from that, the expansion of the agriculture industry is set to contribute to this growth. India and China are the most significant countries that report high vegetable consumption and production.

Europe, on the other hand, is set to exhibit considerable growth backed by the increasing advancements in the field of breeding technologies. It will help in the development of high-quality vegetable seeds. In North America, the demand for the product is set to be high from Mexico and the U.S.

Read More:

https://www.fortunebusinessinsights.com/vegetable-seed-market-103066

 

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