Organic Seed Market size to grow at over 13% CAGR from 2016 to 2023: Global Market Insights Inc.

U.S. organic seed market size was the largest and accounted for over 30% of the total revenue share in 2014. Asia Pacific is likely to grow at higher rates with a CAGR of over 14% from 2016 to 2023 owing to health awareness growth, driving the China and India organic seed market size.
Organic Seed Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Downstream Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023

Global organic seed market size was worth more than USD 1.6 billion in 2014 and is likely to reach valuation exceeding USD 4.3 billion by 2023, with estimated gains at above 13%. 

Vegetable seed revenue share was the largest by accounting for more than 30% in 2014 and is also likely to witness highest gains from 2016 to 2023. Other products include fruits & nuts and filed crops. Fruits & nuts are likely to witness significant gains during the forecast period.

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Restriction of using hazardous chemicals for agricultural production coupled with growing health problems is likely to drive organic seed market growth. These products are not exposed to chemicals in the form of pesticides, insecticides & fertilizers and are also rich in antioxidant properties & nutritional values. 

Initiatives taken by government to promote organic farming are likely to favor demand. The companies involved in this farming type must comply with standards put forward by USDA NOP This farming type is practiced in over 160 countries and accounts for close to 1% of the total arable land. The U.S., Argentina and Australia are leading countries to practice this farming type. Global organic food & beverages market size is likely to be worth more than USD 210 billion by 2023. 

Organic seed market price trend is comparatively higher to that of the synthetic ones, which are likely to act as growth barrier. Other factors such as supply-demand gap and low consumer awareness are also likely to inhibit growth possibilities. Technology innovation and better supply chain networks to establish effective distribution chains are likely to provide growth opportunities. Also, regional government participation to help consumers understand and create awareness between legitimate & false products is likely to develop overall market growth. 

North America, driven by the U.S. consumer demand, occupied major share in 2014. The NOP develops regulations & rules of production, labeling, handling and enforcement of USDA based products. This rulemaking requires input from National Organic Standards Board and public. The NOP also keeps a reference handbook which includes instructions, guidance, policy memo and documents related to prescribed standards. 

The U.S. has strict regulations of using this product. The product sold should meet all requirements for organic food production. This means, the land in which these product are grown should not have prohibited substances required for the organic production for duration of three years before harvesting. The regulation also states that the entire operation must be certified from accredited agent and be managed through system plan by the same certifying agent. 

OMRI hosts database for certified products with a goal to provide a common platform to find stock supplies. The site use is free to public and can be searched by variety or company or crop type. Industry participants must register with OMRI for database inclusion.  

Asia Pacific is likely to witness high growth rates during the forecast period. Increasing consumer awareness about health benefits in countries such as China and India is likely to drive demand in the region. Other factors such as increasing consumer spending and population expansion are also likely to boost APAC demand.

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Global organic seed market share is fragmented and high industry completion prevails among the peers owing to presence of numerous regional and domestic suppliers. This industry experiences product supply shortage and fails to fulfill consumer demand. This factor leads to low bargaining power of buyers and puts supplier in commanding bargaining position. The market also posses threat from new entrants as there is high scope for development in unexplored regions of Latin America and Asia Pacific, where consumer awareness is low. 

Key participants comprise of companies such as Johnny’s Selected Seeds, Seeds of Change, Fedco Seeds, Seed Savers Exchange, High Mowing Organic Seeds and Wild Garden Seeds. Other participants include Fleuren, Vitalis Organic Seeds, HILD Samen, Navdanya, Maas Plant, De Bolster, Arnica Kwekerij and Southern Exposure Seed Exchange.

 

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