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LONDON, Feb. 12, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Fruit And Vegetable Seeds Global Market Report 2024, the fruit and vegetable seeds market is poised for significant expansion over the forecast period, with a compound annual growth rate (CAGR) of 7.9% from 2023 to 2028. According to recent research, the market size is estimated to surge from $8.62 billion in 2023 to $9.39 billion in 2024, reflecting a CAGR of 9.0%. The fruit and vegetable seeds market size is expected to see strong growth in the next few years. It will grow to $12.76 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. This trend is driven by various factors, notably the escalating demand for organic food products worldwide.
Segment Insights and Growth Drivers
The fruit and vegetable seeds market encompass a diverse range of segments, including type, trait, family type, and form. Notable segments include Tomato, Pepper, Onion, Cucumber, Lettuce, Melon, Carrot, and Other Types. The adoption of advanced technologies such as seed pelleting is increasingly becoming prevalent among market players, enhancing seed quality and performance. Companies like Syngenta are pioneering innovations like Pelta technology, aimed at optimizing seed size and uniformity, thus improving crop emergence and stand establishment.
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Asia Pacific emerged as the largest region in the fruit and vegetable seeds market, contributing 49.83% or $5,056.54 million of the total market share in 2023. North America, Western Europe, and other regions followed suit, indicating a global distribution of market activity. The concentration of market players is evident, with the top ten competitors holding 44.71% of the fruit and vegetable seeds market share in 2022.
Trends and Market Potential
The increasing preference for organic food products is a key trend propelling the growth of the fruit and vegetable seeds market. Organic food sales in the USA alone reached $61.7 billion in 2023, highlighting a significant market opportunity for seed producers. Organic farming principles align with consumer preferences for sustainable agriculture, chemical-free production, and enhanced nutritional content, further driving the demand for fruit and vegetable seeds.
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The comprehensive insights provided in this fruit and vegetable seeds market report serve as a strategic tool for businesses aiming to capitalize on the burgeoning fruit and vegetable seeds market. By understanding market segments, regional dynamics, and emerging trends, companies can tailor their strategies to align with evolving consumer preferences and technological advancements. Moreover, insights into competitive landscapes enable players to identify opportunities for collaboration, innovation, and market expansion.
Fruit And Vegetable Seeds Global Market Report 2024 by The Business Research Company provides insights on the fruit and vegetable seeds market size, fruit and vegetable seeds market segments, fruit and vegetable seeds market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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