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The Indian vegetable seed market is highly competitive, with major players accounting for 48.8% market share in 2020

·4-min read

The Indian vegetable seed market was valued at USD 666. 6 million in 2020, and it is projected to reach USD 1,171. 7 million by 2026, registering a CAGR of 9. 6% during the forecast period. Owing to Covid-19, social distancing and limited logistics have constrained the execution of contracts with small and marginal farmers who grow specific vegetable hybrid seeds.

New York, May 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "India Vegetable Seed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06074757/?utm_source=GNW
Small and marginal farmers, as well as those not represented by Farmer Producer Organization (FPOs) in remote districts of the country are faced delays in vegetable seed supply due to constrained logistics and reluctance of the transport sector to ply over long distances.

The increase in adoption of hybrid vegetable seeds to improve the productivity of vegetables, rise in R&D expenditure by the seed companies to bring better quality vegetable seeds, and various government incentives supporting the vegetable seed sector are some of the factors driving the market growth. The increase in availability of spurious vegetable seeds is restraining the market growth.

By type, protected cultivation is the fastest growing segment for vegetable seeds usage in the country. The need for year-round availability of vegetables for consumers and the limited area under vegetable cultivation due to rapid urbanization is driving the market growth for vegetable seeds in protected cultivation during the forecast period.

The high usage of hybrid okra seeds among Indian farmers for better yield compared to other vegetable seeds and product innovation in terms new better-quality seed varieties launches are driving its market growth.

Key Market Trends
Rise in Adoption of Hybrid Seeds is Driving the Market

In India, at present, there is a constraint on increasing the area under cultivation for vegetables. Hence, to augment the productivity, there is a need for greater adoption of hybrid seeds in this sector. The usage of vegetable hybrid seeds increased over the last few years to increase the productivity of vegetables in the country.

Over the last decade, there has been a significant hybridization driven growth in vegetables. The production of hybrid vegetables doubled from 88.62 million metric ton in 2001-02 to 178.17 metric metric ton in 2016-17. For instance, tomato, okra and gourds accounted for a major share of total hybrid vegetable seed value in the country, with shares of 9%, 15%, and 11% respectively, in 2018. Moreover, vegetable hybrid seeds were valued at USD 397.21 million in the same year.

Furthermore, the Government of India is improving the adoption of hybrid seeds in production of vegetable by ensuring the availability of quality seeds, bridging the awareness gap in farmers regarding better techniques, and developing supportive infrastructure facilities in the country. Thus, the support from the government through various policies and various product launches by the players in the market are augmenting the market growth during the forecast period.

Maharashtra is the Major Dominating Market in the Country

Maharashtra is one of the leading states in the country’s horticulture development due to the different types of soil, diverse agro-climatic conditions, an increasing trend in drip irrigation, greenhouse, use of cool chain facilities, and vibrant farmer organization.The major vegetable crops grown in the state are hot pepper, tomato, pea, cauliflower, and okra, which contribute 60% of the total value of vegetable seeds and 50% of total vegetable acreage in the country. The state accounts for 6.7% of the total production of vegetable crops in the country, according to the Horticulture Statistics Division of India

The state is a pioneer in onion production, accounting for INR 4905.0 thousand tons (63%) of the total production in India. Nashik, Ahmednagar, and Pune are some of the major onion-producing districts. In 2020, the state witnessed a shortage of onion seeds due to the high demand for onion cultivation. The price of seed skyrocketed due to the shortage of supply in the market. 40% turnover of the seed industry in the country, including vegetable seeds, is contributed by the state, according to the Maharashtra state agriculture portal. Thus, increase in the cultivation of vegetables in the state is augmenting the growth of the market.

Competitive Landscape
The Indian vegetable seed market is highly competitive, with major players accounting for 48.8% market share in 2020. Some of the prominent players operating in this market include Bayer CropScience AG, Syngenta India, BASF SE, UPL Limited, and Mahyco Private Limited, among others.

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Read the full report: https://www.reportlinker.com/p06074757/?utm_source=GNW

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