Organic seed market to witness a substantial CAGR of 12.5% over 2024 | Key Company Seed Savers Exchange, Fedco Seeds, Rijk Zwaan, Hild Samen GmbH, Renee's Garden

In response to the unprecedented consumer demand for natural non-synthetic food, organic seed market is expanding rapidly. As per a report by Global Market Insights Inc., “Global organic seed industry holding a billion-dollar share is expected to triple its revenue record in less a decade span, by surpassing USD 5.4 billion by 2024 at a CAGR of 12.5% over the period of 2024.”

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Below is the market overview based on crop variation, distribution channel, and regional outlook over 2016-2024

• Cover crop seed production will witness a strong demand in coming time frame. Increasing consumer knowhow about the nutritional benefits of these types of organic seeds coupled with ample product availability especially across Asia Pacific belt will further boost the market outlook. Crop organic seed market is anticipated to grow lucratively at a CAGR of 11% over the forecast span. Vegetable sector is forecast to dominate the overall industry share by accounting for almost 33% of the global revenue over the coming seven years. Organic seed industry for fruits and nuts will also exhibit a potential growth prospect with a striking double digit annual growth rate of 13% over 2016-2024.

• Based on the distribution channel, the industry is segmented among retailers, wholesalers, and cooperatives. Organic seed market through wholesalers accounted for maximum share (60% of the total volume) in 2015 and is expected to cross over a revenue of USD 3 billion by 2024.Wholesalers basically buy seeds from farmers in lump sum amount, pile them up in warehouses and finally resell the seeds to retailers. Retailers in the coming time frame are slated to observe a steep upswing in the growth curve, with the highest annual growth rate of more than 13.5% over the period of 2016-2024.

• Geographically, North America organic seed market will be a prime region sharing the global landscape, driven by U.S. as a major revenue pocket. With the recent biotchnological breakthroughs, farmers are inclined to more ecofriendly solutions, which in turn is fueling the regional market. Asia Pacific is another prominent region participating actively in the market. Large scale adoption of modern day hi-tech integrated farming methods that are leading to higher productivity, consumers’ growing interest on high nutrition content foods, and relentless research activities on biotechnology are the major factors driving APAC organic seed market. China being a prominent regional revenue contributor, is foreseen to grow substantially at a CAGR of 13% over the period of 2016-2024.

Non-synthetic food products have better taste, higher antioxidant characteristics and more nutritional value. Upsurge of food & beverage industry due to changing consumer buying behavior especially in U.S., China, Germany, India, Malaysia and Indonesia will fuel the organic seed market demand.

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Organic farming does not utilize harmful chemical fertilizers, pesticides, herbicides and insecticides while farming. Seed crops are sown for a longer time than food crops. In order to, collect seeds, plants must complete its entire life cycle, with additional time required for drying and curing the seeds. Supportive government regulatory norms encouraging chemical free farming during production of these will propel growth.

Shifting trends for consuming natural foods particularly in APAC is supporting product growth. Advanced farming technology with better supply chain management in Germany, France, UK and Italy will favor the overall Europe product market growth.

Eminent players of Organic Seed Market :
• Johnny's Selected Seeds
• Seed Savers Exchange
• Fedco Seeds
• Rijk Zwaan
• De Bolster Organic Seeds
• Hild Samen GmbH
• Fleuren GmbH
• High Mowing Organic Seeds
• Territorial Seed Co
• Baker Creek Heirloom Seeds
• Renee's Garden

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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This release was published on openPR.