ASIA-PACIFIC VEGETABLE SEED MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The CAGR for the Asia-Pacific Vegetable Seed Market is anticipated to be 4.68%. Hybrid seeds led the market in Asia-Pacific in terms of volume and price in 2021, accounting for 70.4% of all vegetable seed sales. Between 2016 and 2021, the market for hybrid vegetable seeds grew to 34%, largely as a result of the widespread use of hybrid seed varieties in developed nations like Bangladesh, China, and India.

Solanaceous and cucurbitaceous vegetables made up a significant portion of the hybrid vegetable seeds, accounting for close to 55% of the overall hybrid vegetable value in the area. The main causes of this significant contribution were an increase in the pace of seed replacement and growing knowledge of the region's high-yielding varieties.​​

In terms of value, China and India accounted for 54.7% of the market for open-pollinated varieties in the Asia-Pacific region. For low-income farmers, open-pollinated varieties are more economical and require fewer inputs, such as fertiliser and insecticides. Additionally, they lessen the region's reliance on imported hybrid seed, which expands the market.Therefore, it is likely that hybrid breeding technology will rule the market during the forecast period due to rising food demand and the adoption of commercial hybrid varieties.​​

China held a 32.3% market share in the Asia-Pacific region's vegetable seed market value in 2021, followed by India with 23.5%, Japan with 8.5%, and Indonesia with 7.4%. In 2020, China produced 596.0 million metric tonnes of vegetables, or 51.9% of the world's total production, according to FAO statistics.Due to the rising demand for vegetables and increased public awareness of their health advantages, vegetable seeds are predicted to gain in share in India during the projected period.

Major Players: https://www.mordorintelligence.com/industry-reports/asia-pacific-vegetable-seed-market

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