Increasing demand for fresh produce and a fall in arable land acreage are fuelling the growth of the global fruit and vegetable seeds industry according to a new report. Fruit & Vegetable Seed Market: Global Trends & Forecast to 2018 says the industry, worth US$6.3bn in 2012, is forecast to reach US$12.9bn by 2018.
The profitability margin in this segment, improved farming practices and technology, and high returns on investments with certified seeds are amongst the reasons quoted in the report for driving growth in the market. While Europe had the largest market share (worth US$2.2bn in 2012), the fastest growing region is Latin America with a CAGR of 13.4 per cent. A handful of players dominate the market, including Monsanto, Syngenta, Bayer CropScience and Rijk Zwaan.
Solanaceae seed covers the largest market share, with tomato the most dominant crop in this segment, followed by pepper and aubergine. The report said rising consumption of tomato and peppers is one of the main reasons behind the growth in the seed segment.
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