Asia Pacific Seeds Market Report and Forecast 2024-2032

Asia Pacific Seeds Market Size

The Asia Pacific seeds market reached approximately USD 13.7 billion in 2023. The market is projected to grow at a CAGR of 5.40% between 2024 and 2032 to reach a value of around USD 21.99 billion by 2032.

Asia Pacific Seeds Market Outlook

• The Asian Seed Congress 2024, organized by Asia & Pacific Seed Alliance (APSA) and China National Seed Trade Association (CNSTA) will be held in Sanya, Haina, China from the 2nd to the 6th of December.

• As per Asia Pacific seeds industry analysis, in 2023, India started working on biofortification to increase the nutrient levels of several crops such as wheat, pulses, mustard, and millet.

• In May 2023, researchers from China’s Sichuan Agricultural University, used Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) to improve the nutritional value of Chinese kale.

Asia Pacific Seeds Market Growth

A key driver of the seed market is the rising food demand across the region. Asia's population is expected to reach 5.25 billion by 2055, constituting approximately 54% of the world population. As the population rises, so does the requirement for food creating a greater scope for the agricultural industry in the region. To meet this demand, governments are persistently coming up with new initiatives and policies. As of September 2023, the Vietnamese government has made rice production a national priority.

Another factor that will positively influence the Asia Pacific seeds market revenue is the population shift from rural to urban areas. Based on data from the Global Forum on Food Security and Nutrition, by the year 2050, nearly 63% of the total population of Southeast Asia is projected to be living in urban areas. When individuals change their place of living, their food patterns also change. As people increasingly shift to urban settings, their concern for the quality and safety of food grows. This creates a market for better-quality seeds produced using newer technologies such as the CRISPR-Cas9 trials that were started in China in 2017.

Other Asia Pacific seeds market dynamics and trends include the increasing popularity of sustainable agricultural practices such as organic farming and crop substitution. In Thailand, farmers are adopting ‘intercropping’ by growing a mixed set of crops along with coffee. This has helped them diversify their income sources leading to a 20% increase in income. Further, in July 2021, the Philippines became the first country to approve Vitamin A-infused ‘Golden Rice’. These were created by the International Rice Research Institute (IRRI) and the Department of Agriculture's Philippine Rice Research Institute (DA-PhilRice). They have higher concentrations of beta-carotene, which the body uses to produce vitamin A.

Key Trends and Recent Developments

Growing investment in startups, increased adoption of hybrid seeds and sustainable seed sowing practices are supporting Asia Pacific seeds market value.

May 2024

SONVIA, a collaboration between Syngenta Seeds (Thailand), and ACSEN Agriscience Limited (India) has recently launched new and efficient varieties of high-yielding seeds, including those genetically modified for small farmers. The goal is to turn Thailand into a seed hub of the Southeast Asian region.

March 2024

In a move to expand its market in South Asia and the Asia-Pacific region, Syngenta, a global leader in the seed industry has launched a world-class seed health research lab in Hyderabad, India. The lab is purely state-of-the-art and one of the most advanced seed testing facilities in the world. It aims to support seed growers in India and across the Asia-Pacific region, which will positively impact the seeds demand forecast in Asia Pacific.

January 2024

China, one of the largest seed markets in South Asia, has taken effective initiatives to promote highly efficient genetically-modified seed varieties for domestic growth and imports, besides expanding their plantation area nationwide. The government has also granted license to over 26 companies for growing and selling genetically-modified crops in the country.

October 2023

The International Fund for Agriculture Development and Grow Asia, an initiative of the World Economic Forum launched the Smallholder Economic Empowerment through Digital Solutions Scheme (SEEDS) project with financial support from the Korea’s Ministry for Agriculture. It aims to enable small farmers in Southeast Asia gain awareness about several seed-based and agricultural technologies through Information and Communication (ICT) technology solutions.

Increasing Efforts of Non-Profit International Organisations

Not only national governments, but non-profit international orgaisations are also participating in the growth of Asia Pacific seeds industry with their innovative efforts. For instance, the International Maize and Wheat Improvement Center (CIMMYT) has ongoing projects in South Asia, namely Transforming Agrifood Systems in South Asia (TAFSSA) and Transforming Smallholder Food Systems in the Eastern Gangetic Plains (RUPANTAR), promoting awareness among farmers about new and efficient seed technologies and conducting extensive on-site trials to monitor seed efficiency.

Growing Investment in Startups

Leading investors in agriculture, such as AgFunder, has invested in three promising startups in the Asia Pacific region in the year 2023 alone. These include AgriFi from India, a startup helping farmers get easy credit for buying seeds and other input materials, Invest Inya Farmers from Australia, a startup that allows farmers to receive funds from the general public, and DHF platforms from Vietnam that helps farmers transform their produce to value-added products. Such initiatives are a boon to South Asia’s seed startup culture, which is already thriving and growing since decades.

Sustainable Seed Production Practices

Farmers in Asia Pacific are increasingly practicing sustainable seeds production practices such as permaculture and community seed production, aiding the seeds demand growth. These practices provide benefits like resource conservation, biodiversity, and high resistance against common pests and insects. Water saving is also one of the major causes for practicing these techniques, especially in the dry regions of Asia-Pacific.

Increased Preference towards Hybrid Seeds

Hybrid seeds are increasingly being adopted by farmers in Asia Pacific to enhance the efficiency, yield, and resilience of their seeds. Stakeholders such as, the International Maize and Wheat Improvement Center (CIMMYT) are realizing this growing demand and have therefore worked consistently to introduce hybrid seeds into the market. Most recently in 2023, the organisation introduced 5 new hybrid seed varieties of maize with characteristics such as drought and waterlogging tolerance, high yield, and resistance against common diseases.

Asia Pacific Seeds Industry Segmentation

‘Asia Pacific Seeds Market Report and Forecast 2024-2032’ offers a detailed analysis of the market based on the following segments.

Market Breakup by Type

• Conventional Seeds

• Genetically Modified Seeds

Market Breakup by Crop Type

• Row Crops
  • Fiber Crops
  • Forage Crops
  • Grains and Cereals
  • Oil Seeds
  • Pulses
• Vegetables 
  • Brassicas
  • Cucurbits
  • Roots and Bulbs
  • Solanaceae
  • Unclassified Vegetables

Market Breakup by Treatment

• Treated Seeds

• Untreated Seeds

Market Breakup by Trait

• Herbicide Tolerance

• Insect Resistance

• Others

Market Breakup by Country

• China

• Japan

• India

• ASEAN

• Australia

• Others

Asia Pacific Seeds Market Share

In terms of the type of seeds, there is an increased demand in the market for genetically modified and High Yield Varieties (HYV) of seeds. India and China are the two largest producers of genetically modified seeds in the Asian Region. As of June 2024, five genetically modified crops including cotton, banana, canola, Indian mustard, and safflower, have been approved for cultivation in Australia. There are also field trials going on for other crops.

Leading Companies in the Asia Pacific Seeds Market

The market players are increasingly adopting newer technology to improve the quality of seeds in order to increase sales.

• BASF SE

• Bayer AG

• Corteva Inc.

• Nuziveedu Seeds Limited

• Syngenta AG

• Groupe Limagrain Holding

• East-West Seed Group

• Sakata Seed Corporation

• UPL Ltd. (Advanta)

• Rijk Zwaan Zaadteelt en Zaadhandel B.V

• Others

Key Highlights of the Report

Asia Pacific Seeds Market Report Snapshots

Asia Pacific Seeds Market Size

Asia Pacific Seeds Market Growth

Asia Pacific Seeds Market Share

Asia Pacific Seeds Companies