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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Asia Pacific Seeds Market Report Snapshots
Asia Pacific Seeds Market Size
Asia Pacific Seeds Market Growth
Asia Pacific Seeds Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
It is estimated that the Asia Pacific seeds market reached approximately USD 13.7 billion in 2023.
The market will likely grow at a CAGR of 5.40% in the forecast period of 2024 and 2032.
The market is projected to reach a value of around USD 21.99 billion by the year 2032.
Key drivers of the market include a rising food demand, a rural-to-urban population shift and the adoption of sustainable agricultural practices.
Growing demand for HYV and genetically modified seeds and an increase in the use of digital tools and platforms are the key trends in the market.
According to the report, there are two types of seeds in the market- conventional seeds and genetically modified seeds.
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, and others are the key players in the market.
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Australia
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India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124