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Vegetable Seeds Market Trends, Growth, and Forecast Report

Global Monitor

The vegetable seed market is segmented by Vegetable Type (Tomato, Cabbage, Sweet Pepper, Lettuce, Eggplant, Okra, and Other Vegetable Types), and by Region

SEATTLE, WASHINGTON, UNITED STATES, October 11, 2020 /EINPresswire.com/ -- Market Overview

The production of vegetable seeds has increased rapidly and has almost doubled over the past few years. The trade in vegetable seeds now exceeds the trade of cereals, indicating the unrestrained vertical growth. With global food security being a major challenge, the sale of vegetable seed has increased to a large extent. Countries around the world have witnessed the potential of GMO technology and are adopting it in their strategy to develop new varieties and hybrids. Moreover, this technology helps reduce cultivation costs for vegetable crops. The standards of global farming have increased, thereby, promoting the growth of the vegetable seed market. While all these factors are driving the vegetable seed market, few restraints, such as high production costs, owing to intensive labor and machine requirement, high perishable nature of food (as not all countries having proper storage infrastructure), high investments to run a successful R&D center (for making use of the latest technologies for production of hybrid and GM seeds) and the presence of spurious seeds in the market are a major setback to the vegetable seed market. Opportunities, such as high investment returns of a successful hybrid or variety and the increasing awareness and adoption of GM technology by different countries indicate a huge scope for the vegetable seed market.

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The global demand for vegetable seeds is expected to increase in the coming decade; however, the growth of the market could be constrained by factors such as high vegetable seeds cost, perishable nature of seeds and the presence of spurious seeds in the market.

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The global vegetable seed market is segmented based on region into North America, Europe, Asia Pacific, South America and rest of the world. France and Italy are the major producers of carrot seeds while US Northwest produces most of the spinach and other greens, beans and peas. Most cucumber seeds are produced in California. Since the production of tomatoes and hybrid peppers require labor-intensive hand-pollination, they are produced in countries where wages are low: Vietnam and China. Majority of the broccoli is produced in Mexico.

North America is one of the largest markets for vegetable seed production and consumption. This region alone accounted for 33% of global seed market in 2015, out of which 18% of the seed market belongs to the vegetable seeds segment. The North American vegetable seed market is a highly concentrated market, around 85% of market share is occupied by top ten players in this region. Monsanto, Limagrain, Syngenta and Bayer Crop Science are the most influential seed companies in this market. Most companies are concentrating on hybrid vegetable seeds, which are largely backed by patents in this region. United States, Canada and Mexico are the major vegetable producing countries. Most vegetable seeds are consumed and produced domestically.

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Bhanu Reddy
Global Monitor
+1 2068090882
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