Colombia Seed Market Report and Forecast 2024-2032

Colombia Seed Market Outlook

The Colombia seed market size reached USD 301.41 million in 2023. The market is expected to grow at a CAGR of 4.9% between 2024 and 2032, reaching almost USD 464.73 million by 2032.

Key Takeaways

• In 2023-24, Colombia agricultural production witnessed an increase with prominent crops that includes Rice (1,940 thousand tons), Palm oil (1,900 thousand tons), Corn (1,600 thousand tons), Soybean (110 thousand tons), among others.

The Colombia seed market growth is being propelled by significant investments in agricultural research, particularly from major private firms focusing on innovation in the agriculture sector. The advent of biotechnology and scientific developments, coupled with a strengthening Intellectual Property Rights (IPR) landscape and expansion of the agricultural inputs market, is encouraging private companies to invest in agricultural R&D. Genetically modified seeds are experiencing increased commercial sales due to their production benefits for cultivators.

Hybrid seed adoption is also driving market share growth in Colombia, especially as modern agriculture and home gardening prioritize hybrid seed production. Controlled hybrids offer uniform characteristics produced by crossing two inbred strains, contributing to a dramatic rise in agricultural output, particularly since 2016 with increased demand for Bt cotton hybrids, single-cross corn hybrids, and hybrid vegetables.

The adoption of high-yielding cultivars/seeds, coupled with agricultural inputs like crop protection products and fertilisers, aims to optimize agricultural sector utilization. Additionally, the global push for pollution reduction is fuelling biofuel usage, which offers environmental advantages over fossil fuels.

The Colombia seed market is responding to rising population and consumption trends, particularly in animal fodder and commodities like vegetable oil. However, challenges such as strict regulatory structures, economic volatility, and awareness gaps remain for companies operating in this market.

Key drivers include the adoption of Genetically Modified (GM) crops, providing resistance to pests, insects, and chemicals while boosting yield. Farmers seek genetically modified seeds to enhance productivity, driving demand in the seed market. Diversification in crops is also rising to meet market demands, leading to the development of new seed varieties by seed companies and play an important role in the Colombia seed market development.

Market Segmentation

Colombia Seed Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Conventional

• GMO

• Hybrid

Market Breakup by Crop Type

• Fruits and Vegetables
  • Brassicas 
  • Cucurbits 
  • Roots and Bulbs 
  • Leafy Vegetables 
  • Solanaceae 
  • Others

• Oilseeds and Pulses
  • Soyabean 
  • Canola/Rapeseeds
  • Sunflower  
  • Others

• Cereals and Grains
  • Corn 
  • Wheat 
  • Rice 
  • Others

• Others

Market Breakup by Traits

• Herbicide-Tolerant

• Insecticide-Resistant

• Others

Competitive Landscape

Key players in the seed market in Colombia offer products through production and imports to support the end users in the market.

• AGROSAVIA

• Corteva Inc.

• Syngenta Crop Protection AG

• Groupe Limagrain Holding

• CULTIVOS Y SEMILLAS EL ACEITUNO

• Others

Key Highlights of the Report