The Indian market for vegetable seed is projected to grow at a CAGR of 9.8% for the forecast period between 2020-2025. Most of the vegetable seeds companies in the country are focused on the production of tomato, cabbage, brinjal, chili, okra, and cucumber seeds. Among all the vegetable seeds, cabbage and tomato hold the highest seed replacement rate. At present, only less than 15% of seeds used by the farmer are good quality seeds, and the rest of the seed demand is being satisfied by the saved seeds of farmers from the previous season.
Key Market Trends
Increasing Area Under Vegetable Production Driving the Market
According to ICRA, increasing awareness regarding consumption of vegetables to meet various dietary requirements and nutritional needs has raised the demand for vegetables, consequently leading to an increase in the area of vegetable production. On the supply side, farmers are growing a wide range of vegetables, considering the fact that vegetables are short-duration crops that have multiple harvests, resulting in better cash flow for the farmers.
India Emerging as One of the Major Importers of Vegetable Seeds
India is the tenth largest importer of vegetable seeds by value and seventh largest importer by volume, in the world. It accounted for about 1% of the total vegetable seed imports by volume during 2018. Chile, Thailand, Italy, China, New Zealand, South Korea, Philippines, Indonesia, and the Netherlands are the major countries exporting vegetable seeds to India. Chile, Thailand, and Italy are the largest exporters, which, collectively, account for more than 50% of the total import of vegetable seeds by India.
The India Vegetable Seeds Market is consolidated with top players occupying the majority of the market. Syngenta, Nunhems, Namdhari, Bejo Sheetal, Mahyco, Seminis, Advanta (UPL), Vibha, US Agri, and Ankur seeds are the top ten vegetable seed companies in the nation, controlling more than 80% of the market. The private sector dominates the Indian vegetable seed industry, both by value and by volume.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support