The global
vegetable seeds market size is expected to reach USD 10.48 billion by 2027 , exhibiting a CAGR of 7.8 % between 2020 to 2027 . The growing cognizance about the benefits of vegetables in weight loss and management can be a vital factor augmenting the growth of the market , states Fortune Business Insights , in a 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 market size stood at USD 5.78 billion in 2019 .
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Market Driver :
Growing Popularity of Hybrid Seeds to Boost Market Development
The growing inclination towards hybrid vegetables over non-hybrid vegetables among consumers owing to its nutrition , taste , color , size , quality , flavor , and shelf-life will subsequently enable the growth of the market during the forecast period . The application of hybrid vegetable seeds to prevent the crops from different types of environmental stress such as insects , plant diseases , and others will further foster healthy growth of the market . The adoption of hybrid seeds by farmers for higher crop yields and consistent performance throughout will contribute positively to the growth of the market . Nonetheless , the emergence of major seed companies will boost the supply of quality seeds , which , in turn , will bode well for the market in the foreseeable future .
Supply of Essential Goods to Ease Market Amid Coronavirus
The outbreak of COVID-19 has led to the destruction in the supply chain of many industries across the world . Nevertheless , the heavy demand for essential goods during the pandemic will consequently foster the healthy growth of the market . according to the International Seed Federation ( ISF ), the spread of coronavirus had a lesser impact on the seed sector as it was considered under essential commodities to sustain the delivery of seed to farmers . The supply of seeds to preclude the scarcity of food in numerous nations amid coronavirus will effortlessly create business opportunities for the market .
Regional Analysis :
High Consumption of Vegetables to Boost Market in Asia Pacific
The market in Asia Pacific is expected to witness an excellent growth rate during the forecast period . The growth in the region is attributed to the booming agriculture industry in India and China . The increasing awareness regarding the health benefits of vegetables will have a tremendous impact on the market in the forthcoming years . The high vegetable production and consumption in India has created a lucrative business for the seed industry . The market in Europe is expected to experience enormous demand during the forecast period due to the rapid advancements in breeding technologies . The development of high-quality vegetable seeds is predicted to contribute effectively to the market growth in Europe . The growing international trade for fruits & vegetables will foster the healthy growth of the market in Europe .