APAC Seed Market Size, Share, Analysis & Growth | 2031

Report Description

Asia-Pacific Seed Market Outlook 2031

The Asia-Pacific seed market size was USD 21.76 Billion in 2022 and is expected to reach USD 31.54 Billion by 2031 estimated to register a substantial CAGR 4.21% during the forecast period, 2023–2031. The growth of the market is attributed to increased demand for seeds from neighboring countries, the adaptation of technology to meet the demand, and favorable climatic conditions.

The growing demand for seeds from the beverage, food, animal feed, and bio-fuels industry is boosting the expansion of the market. In developed markets, seed treatment business is getting a lot of traction as farmers are trying to maintain the crop yield and increase their returns. This sustained approach from developed and developing countries in agricultural practices has been fueling the global seeds market growth.

Get Free Sample Report

The Covid-19 pandemic had an unpleasant impact on the seed market. The delay in the supply of seeds to farmers is a major pain point as seed production depends on allied sectors such as transporting, labor, and packaging, which have been impacted due to the lockdown. Moreover, issues related to the transportation of seeds either internationally or domestically due to the reduced number of flights;

however, the government’s steps and strategies have helped to neutralize the situation. This pandemic has encouraged the key players to implement advanced technologies to overcome these challenges and expand market growth.

Asia-Pacific Seed Market Trends, Drivers, Restraints, and Opportunities

• High adoption of biotech crops to develop stress-tolerant and more nutritious crop varieties to protect natural resources is estimated to drive the Asia-Pacific seed market during the forecast period
• Molecular breeding in seeds aids in reducing the time consumed in the selection of the desired genes in progenies and parents are projected to fuel the market growth.
• Government approvals and regulations, advancements in the technologies involved in the R&D, and increased usage of GM seeds are some of the notable constraints for the seed market in the region.
• Commercialization of fake hybrid seeds and counterfeit products is expected to impede market growth in the coming years
• R&D investment and technological advancement in the Asia-Pacific seed market are expected to offer lucrative opportunities for the market players.

Scope of The Asia-Pacific Seed Market Report

The report on the Asia-Pacific seed market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Asia-Pacific Seed Market Segment insights

The hybrid seeds segment is projected to constitute a large market share

Based on product type, the Asia-Pacific seed market is segregated into hybrid seeds, conventional seeds, and varietal seeds. The hybrid seeds segment is expected to account for a key share of the market during the forecast period owing to enabling farmers to reduce their crop production costs significantly, for instance, agrochemical treatments, while guaranteeing a much more abundant harvest; thereby, sold at a significantly higher price than conventional seeds.

Get Free Sample Report

Grains and cereals segment is expected to register a substantial CAGR

Based on crops, the Asia-Pacific seed market is divided into grains and cereals, pulses and oilseeds, vegetables, and others. Grains and cereals segment is further subdivided into maize, rice, wheat, sorghum, and others and oilseeds are further segregated into soybean, sunflower, canola, and others. The seed treatment technique is widely used for oilseeds to increase crop yield of that specific seed such as soybean seed treatment.

The grains and cereals segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to factors such as the widespread use of grains as a staple food. In the past few years, countries such as China have emerged as major exporters of grains to meet the requirement of neighboring economies. Crops such as corn are widely utilized in both the feed and food industries.

With the growing market for biofuels, crops like sorghum are also being produced on a large scale. An increase in awareness for vitamin- and protein-rich diets is boosting the demand for fruits and vegetable seeds.

India is expected to dominate the market

In terms of country, the market is broadly classified as China, India, Japan, Australia and Rest of Asia-Pacific. The market in India is anticipated to expand at a robust CAGR during the forecast period. Growth of arable land for cultivation, varied agro-climatic condition, and cheap labor availability are anticipated to boost the market growth over the coming years.

As per the APEDA data, India exports its vegetable and fruit seeds to countries, like the United States, the Netherlands, Bangladesh, Pakistan, Japan, Thailand, Singapore, and Israel. Among these countries the United States, the Netherlands and Bangladesh are the major importers of Indian fruit and vegetable seeds.