The India seed market size was valued at USD 6.3 Billion in 2022 and is likely to reach USD 18.08 Billion by 2031, expanding at a CAGR of 12.43% during the forecast period, 2023–2031. The growth of the market is attributed to the rising demand from the agriculture sector.
Indian agriculture has made considerable progress since the green revolution of the last part of the 1960s. India presents an intriguing situation: both GDP and food grain creation in the nation have risen quicker than the development in populace throughout the most recent 50 years.
Indian seed industry is perhaps the most adult and lively on the planet right now possessing the sixth situation with almost 90000 million turnovers. In esteem terms the significant development has come from the expanded appropriation of BT cotton mixtures, single cross corn crossovers and half vegetables. The volume development has for the most part come through expanded seed replacement rate in crops like paddy and wheat. Indian seed industry is going through wide change including expanded part of private seed organizations, section of MNCs, and joint endeavors of Indian organizations with worldwide seed organizations.
India Seed Market Trends, Drivers, Restraints, and Opportunities
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Increasing disposable income leads to the increasing consumption of fruits and vegetables is expected to boost the market during forecast period.
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Rapid growth of the organic farming sector is major factor driving the market.
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Increasing awareness and government policies is expected to fuel the market during forecast period.
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High price of agricultural equipment and pesticides is expected to hamper the market growth.
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Lack of skilled farmers and government initiatives present as major factors that can restrict the market growth during the forecast period.
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R&D investment and technological advancement in producing hybrid crops and developing agricultural process are projected to offer significant opportunities for the market players.
Scope of India Seed Market Report
The report on the India seed market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Seed Market - India Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Crop Types (Row Crops [Rice, Beans, Maize, Sesame seed, Cotton, and Others], and Vegetables [Onion, Tomato, and Others]), Product Types (Hybrid Seeds, Genetically Modified Seeds, and Varietal Seeds),
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Regional Scope
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India
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Kaveri Seeds Ltd., National Seeds Corporation Ltd., Monsanto India Ltd., Nuziveedu Seeds Ltd., and PHI Seeds Private Ltd. (DuPont Pioneer)
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India Seed Market Segment Insights
The hybrid seed segment is projected to represent a major market share
Based on product types, the India seed market is segregated into hybrid seeds, genetically modified seeds, and varietal seeds. The hybrid seed segment is expected to represent a key share of the market during the forecast period. The hybrid seed zone witnessed an increase of 15-20% over the last decade. The principal improve has come from the improved adoption of BT cotton hybrids, single-go corn hybrids, and hybrid vegetables. This improved call for hybrid seeds has boosted the market for business seeds.
The competitive advertising measures are undertaken for using hybrid seeds resulted in the improved manufacturing of hybrid seeds. The adoption of hybrid seeds has resulted in lots of advantages, which includes yield improvement, making sure better prices, and the provision of seeds at low price. Therefore, the advantages of adoption of hybrid seeds have led farmers to apply them in low productiveness regions.
The cotton segment is expected to grow at a rapid pace
Based on crop types, the India seed market is fragmented into row crops and vegetables. The row crops segment is further divided into rice, beans, maize, sesame seed, cotton, and other. The vegetables segment is further segregated into onion, tomato, and others. The cotton segment is expected to represent a key share of the market during the forecast period. Among the arable crops studied, cotton has the maximum income share, which is mainly due to the widespread introduction of BT cottonseed in India. As an important part of the Indian economy, this culture constitutes the backbone of the Indian textile industry.
Gujarat is one of the most important cotton producing states in the country. These seeds are also used to make vanaspati or vegetable oil and used as feed for dairy cows to increase milk production and maintain high demand for the plant during the forecast period.
Segments
The India seed market has been segmented on the basis of
Crop Types
- Row Crops
- Rice
- Beans
- Maize
- Sesame seed
- Cotton
- Others
- Vegetables
Product Types
- Hybrid Seeds
- Genetically Modified Seeds
- Varietal Seeds
Key Players
Competitive Landscape
Key players competing in the India seed market include Kaveri Seeds Ltd., National Seeds Corporation Ltd., Monsanto India Ltd., Nuziveedu Seeds Ltd., and PHI Seeds Private Ltd. (DuPont Pioneer)
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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