APAC Seed Market

APAC Seed Market Size (2024 to 2032) 

The seed market size in APAC was valued at USD 69.97 billion in 2023 and is anticipated to be reach USD 73.78 billion in 2024 from USD 112.33 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2024 to 2032.

The constant increase in the regional population coupled with the extensive demand for food products is the primary factor driving the Asia Pacific seed market. The recent developments in seed technology, like genetically modified seeds and precision breeding, are also fuelling the business in this area. The supportive initiatives and loans offered by the local governments to promote agriculture and implement advanced technologies are further promoting the seed market in this region.

The use of genetically modified seeds to combat harsh environmental conditions and crop diseases is another positive aspect of the Asia Pacific seed market. The modern research and development activities in the agriculture sector, along with precision farming techniques, are boosting sales in the local seed business. The ongoing trend of sustainable cultivation and organic farming are pushing the need for new seed varieties, which will create more opportunities for the Asia Pacific seed market in the future. 

The major challenge to the Asia Pacific seed market is the strict government regulations against using genetically modified seeds in certain countries of this region. Also, with the increasing global warming situation, there is a switch in the climatic conditions causing floods, droughts, and wildfires, which are negatively impacting the seed business. In addition, the need for resilient seeds is uneven in different parts of Asia Pacific because of the uncertainty and lack of acceptance from farmers. The focus on biodiversity and environmental protection is restricting some of the cultivation practices, acting as a barrier to the Asia Pacific seed market.  

This research report on the APAC seed market has been segmented and sub-segmented into the following categories.

APAC Seed Market Analysis By Crop Type 

• Grains and Cereals 
• Oilseeds 
• Fruits & Vegetables 
• Others 

The grains and cereals segment recorded the dominant share of the Asia Pacific market due to the high demand for wheat and rice as a staple food in several nations of the region. Similarly, fruit and vegetable seeds have increased demand after the COVID-19 pandemic and are expected to occupy a significant share of the regional market in the coming years. 

APAC Seed Market Analysis By Seed Type

• Hybrid 
• Conventional 

• Varietal 

Hybrid seeds recorded a prominent portion of the Asia Pacific seed market due to the benefits offered by these seeds, such as more productivity, improved resilience, disease resistance, and increased adaptability. In addition, there is a surging adoption of genetically modified seeds to handle diverse climatic conditions and offer more durability. 

APAC Seed Market Analysis By Cultivation Mechanism 

• Open Field 
• Protected Cultivation 

The open field segment dominated the Asia Pacific seed market and is likely to register a steady growth rate in the future. However, with the changing environmental conditions, the protected cultivation segment is estimated to find more opportunities in the future. 

APAC Seed Market  By Country 

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

China dominated the regional seed market owing to the rising government investments in the agricultural sector. The spike in the adoption of hybrid seeds and innovative technologies in farming is promoting the Chinese seed market. India is the second leading nation in the Asia Pacific seed market owing to the changing trends of agriculture and consumer interests towards organic farming. In addition, the rising exports of fruit and vegetable seeds to Western nations are also boosting the sales in the Indian seed market. Also, the use of wheat and rice in daily food intake is promoting more growth opportunities for the seeds business in this area. Similarly, the use of rice and vegetables in Japan and other Southeast Asian countries is likely to promote the regional market in the foreseen period. Nevertheless, Australia also offers lucrative growth potential with the high percentage of row crop cultivation in the nation. 

KEY MARKET PLAYERS 

Bayer AG, Syngenta Group, Advanta Seeds – UPL, Corteva Agriscience, East-West Seed, DuPont, Monsanto, Dow AgroSciences LLC, Land O’Lakes Inc, Limagrain, Takiiseed and BASF SE. are some of the major players involved in the Asia-Pacific seed market.

RECENT HAPPENINGS IN THE ASIA PACIFIC SEED MARKET 

• In March 2023, BASF introduced its integrated solutions pipeline, such as L-glufosinate ammonium (L-GA) Active herbicide formulation and Tirexor Active to increase its presence in the seed market and offer more assistance in weed management and precision agriculture. 
• In 20222, Corteva Agriscience, a leading agriculture firm, started investing more in Indian operations to expand its research and production activities in the subcontinent.