The global organic seed market is expected
to reach USD 4.59 billion by 2022, according to a new report by Grand View
Research, Inc. Growing health consciousness and environmental awareness have
resulted in shift in consumer preferences towards organic food. Such trends are
projected to complement the organic seed market in the near future. Organic
food products are devoid of any chemical exposure and are thus healthier than
their conventional counterparts. Rising disposable income and increasing market
penetration are key factors that are expected to aid the organic seed market
particularly in the emerging markets of Asia Pacific and Central & South
America.
High organic
seed cost is anticipated to act as a major deterrent for market growth and
development. Lack of awareness, high demand-supply imbalance and lower
awareness regarding organic food products are some other challenges faced by
market participants. Unavailability of high quality and certified organic seeds
is another prominent factor that is anticipated to negatively impact the
regional as well as global market over the next seven years. Technological
advancements, better value chain management and wide distribution network are a
few areas which offer ample growth opportunities to the industry participants
over the forecast period.
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Further key findings from the study suggest:
- Global organic seed market was valued at USD 1,698.5 million in 2014 and is expected to be valued at USD 4,593.6 million in 2022, growing at an estimated CAGR of 13.6% from 2014 to 2022.
- Vegetable seeds dominated the global market and accounted for over 30% of total revenue in 2014. They are also expected to witness the highest growth rate over the forecast period.
- North America dominated the global organic seed market with demand share estimated at 35.7% in 2014. Asia Pacific is projected to witness the highest growth of 14.3% from 2015 to 2022. Growing awareness regarding benefits offered by organic seed particularly in China and India is expected to drive the regional market over the forecast period.
- The industry is segmented and is characterized by high industry rivalry owing to the presence of numerous industry participants. Region specific organic seed producers play a critical role across the value chain. There is considerable supply-demand gap which has arisen due to the brisk growth in demand for organic food products in the recent past.
- Key industry participants operating in the global market include Seed Savers Exchange, Wild Garden Seeds, Fleuren, Johny;s Selected Seeds, Navdanya, Maas Plant, Seeds of Change, Fedco Seeds and Vitalis Organic Seeds.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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