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Hybrid Vegetable Seeds are the Fastest Growing Segment Fueling the Growth of Vegetable Seed Market

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Sneha
Hybrid Vegetable Seeds are the Fastest Growing Segment Fueling the Growth of Vegetable Seed Market

The global Vegetable Seed Market is estimated to be valued at US$ 7603.24 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Vegetable seeds are the embryos of edible vegetables grown for their nutritional and economically significant yields. Vegetable seeds enables farmers to produce vegetables in large volumes at lower costs compared to conventional methods. Hybrid vegetable seeds, in particular, results in uniform produce with higher nutritional value and greater resistance to diseases.

Market Overview:

Vegetable seeds are primarily of two types - open-pollinated varieties (OPVs) and hybrids. While OPVs are economical and maintain genetic diversity, hybrids exhibit hybrid vigor and uniform quality. Rising health-consciousness is driving the demand for vegetables globally, fueling growth of the vegetable seed market.

Market key trends:

One of the key trends in the vegetable seed market is the increasing adoption of hybrid vegetable seeds across major vegetable crops. Hybrid seeds improve yields by 15-20% and resist diseases better than conventional OPV seeds. Seed companies worldwide are extensively engaged in R&D to develop high-yielding hybrid varieties of major vegetable crops including tomatoes, cucurbits, brassicas, root vegetables etc. configured for diverse agro-climatic conditions. For example, hybrid seeds for climate-resilient vegetable varieties that can tolerate biotic and abiotic stresses.

Segment Analysis:

The vegetable seed market is segmented into tomato seeds, chili & pepper seeds, cucurbit seeds, leafy vegetable seeds, root & bulb vegetable seeds, brassica seeds, and others. Among these, the tomato seeds segment accounted for the largest market share in 2022 as tomato is one of the most widely cultivated vegetables globally owing to high demand. The chili & pepper seeds segment is expected to exhibit the highest CAGR during the forecast period due to increasing use of chili & peppers in various cuisines globally.

Key Takeaways:

The Global Vegetable Seed Market Growth is expected to witness high, exhibiting CAGR of 5.9% over the forecast period, due to increasing demand for organic and hybrid seeds.

Market size: The global vegetable seed market size was valued at US$ 7603.24 Bn in 2023. The market is expected to reach US$ 12000 Bn by 2030.

Regional analysis: North America dominates the global vegetable seed market currently owing to high consumption of vegetables and commercial vegetable production in the region. Asia Pacific is expected to witness the fastest growth over the forecast period owing to increasing population, rapid urbanization, and rising health awareness in countries such as India and China.

Key players: Key players operating in the vegetable seed market are Bayer CropScience AG, Groupe Limagrain, Syngenta AG, BASF SE (Nunhems BV), Rijk Zwaan Zaadteelt En Zaadhandel BV, Sakata Seed Corporation, UPL Limited (Advanta Seeds International), Takii & Co. Limited, East-West Seed International Ltd, Enza Zaden BV, Bejo Zaden BV, and Namdhari Seeds. These players are focusing on new product launches and mergers & acquisitions to strengthen their market position.

Explorer more information on this topic, Please visit - 

https://www.insightprobing.com/vegetable-seed-market-growth-and-forecasts-analysis/ 

Explore more trending article on this topic - 

https://diveintoinsights123.weebly.com/blog1/vegetable-seed-market-is-estimated-to-witness-high-growth-owing-to-increasing-demand-for-organic-farming 

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