Garden Seeds Market Is Expected To Reach A Valuation Of US$ 1.4 Billion By 2033, Fact.MR

According to Fact.MR, a market research and competitive intelligence provider, the Garden Seeds Market generated approximately US$ 840 million in revenue in 2022. The market is projected to grow at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2033, reaching an estimated valuation of US$ 1.4 billion by the end of this period. Specifically, the market for vegetable seeds is expected to grow at a CAGR of 4.4% during the same timeframe.

Data from the Food and Agriculture Organization of the United Nations (FAO) shows that global vegetable production reached around 1.16 billion tonnes in 2020. The increasing global consumption of vegetables, driven by the rising adoption of vegetarian and vegan diets and growing demand in developing countries, is expected to fuel the growth of the vegetable seeds market in the coming years.

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The growth of the garden seeds market is bolstered by increased investment from both the government and venture capital firms in seed technology and research. In 2020, venture capital investment in the agriculture and food technology sector hit a record high of approximately US$ 22.3 billion, up from US$ 20.7 billion in 2019. Seed-stage funding represented the largest portion of this investment, totaling around US$ 7.6 billion.

China and India dominate the production of vegetable seeds and hold significant positions in the global garden seeds market. According to the Food and Agriculture Organization (FAO), China exported about US$ 882 million worth of vegetable seeds in 2019, while India exported approximately US$ 462 million worth in the same year. The growing demand for vegetables and fruits, along with the adoption of modern farming practices, is anticipated to drive the expansion of the garden seeds market in the coming years.

Competitive Analysis:

Key players in the market are Bayer (Pty) Ltd, Syngenta, Jackson & Perkins, Inc., Harris Seeds, JK Agri Genetics Ltd., Baker Creek Heirloom Seeds, Fedco Seeds, Inc., Fruition Seeds LLC, Kalashseeds Pvt. Ltd., Kitazawa Seed Co., Ontario Seed Company Ltd., Prairie Garden Seeds, Rohrer Seeds, San Diego Seed Co., Seed Needs LLC, Swallowtail Garden Seeds, and Territorial Seed Co.

A few of the recent developments in the Garden Seeds Market are:
• In April 2020, A division of Sakata Seed Corporation called Sakata Seed America purchased the Vanguard Seed, a lettuce seed company in the United States. The company Vanguard Seed would be able to through this acquisition. The company would be able to enter the market with new lettuce kinds thanks to the acquisition.
• In March 2021, Syngenta announced that it had acquired Valagro, a leading biostimulant and specialty nutrients company. The acquisition is part of Syngenta's strategy to expand its crop protection and seed businesses by offering a broader range of products and solutions to farmers.

The Fastest Growing Segment: Rising Demand for Vegetable Seeds
The demand for vegetable seeds is poised to experience rapid expansion, having demonstrated a robust Compound Annual Growth Rate (CAGR) of 6% from 2018 to 2022. This growth trajectory is projected to continue, with an expected CAGR of 4.4% from 2023 to 2033.

Notably, vegetable seeds have gained substantial traction among consumers, particularly those inclined towards cultivating their own produce. With the surge in home gardening practices and an increasing preference for organic and locally sourced goods, the vegetable seeds market is set to flourish in the years to come.

Anticipated to be the frontrunner in growth during this period, the vegetable seeds segment is propelled by several key factors. The burgeoning trend of home gardening, coupled with heightened demand for organic and non-genetically modified (GMO) vegetables, contributes significantly to this expansion. Additionally, the growing awareness surrounding the health advantages linked to the consumption of freshly harvested produce further fuels the growth of this vibrant market segment.

Analysis of the United States Garden Seeds Market

Projected to reach a value of US$ 488.9 million by 2033, with a substantial increase of US$ 171 million from 2023 to 2033, the US garden seeds market has shown steady growth. Having expanded at a CAGR of 5.9% from 2018 to 2022, the market is anticipated to continue growing at a CAGR of 4.4% from 2023 to 2033.

In 2019, organic seed sales in the US reached approximately US$ 29 million, marking a notable 14% increase from the previous year. This upsurge is attributed to the surging popularity of organic gardening and farming, driven by consumer preferences for reduced exposure to pesticides and chemicals. This escalating demand for organic seeds contributes significantly to the overall growth of the garden seeds market.

Segmentation of the Garden Seeds Market
• By Type :
o Vegetable Seed
o Flower and Ornamental Seed
o Fruit Seeds
o Herb Seeds

• By Distribution Channel :
o Online Sales
o Specialized Stores
o Convenience Stores

• By Region :
o North America
o Latin America
o Europe
o Asia Pacific
o Middle East & Africa

Read More: https://www.factmr.com/report/garden-seeds-market

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This release was published on openPR.