Organic Seeds Market size worth more than USD 1.6 billion in 2015 will witness gains at over 12.5% CAGR from 2016 to 2024 pushed by increasing natural food demand.
Sellbyville, DE -- (SBWIRE) -- 02/26/2019 -- The Organic Seed Market is estimated to surpass USD 5.4 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing natural food consumption due to change in consumer preferences has enhanced industry growth. Growing awareness among people regarding health benefits will drive the organic seed market. Natural and organic products have been primarily introduced to overcome bigger challenges including preservation of agricultural biodiversity, plant genetic diversity and crop production run by high-input of chemical systems which are toxic to nature and humans. It also addresses genetic vulnerability in crops and seeds grown, deficiencies of nutritional values in food supply and economic and social injustice faced by plant breeders, farmers and societies they feed.
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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.
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. Organic seed market for vegetables will generate over USD 1.8 billion in sales by 2024. Easy digestion, more nutritional value and anti-oxidant properties are encouraging the product consumption. These vegetables are ideally grown in rain-fed, no or low external input use regions or areas.
Fruits & nuts are set to witness over 13% growth up to 2024. Local producers will play an increasingly important role in easy availability of product ensuing higher penetration. Private and public investments in natural breeding of plants and other natural seed research have increased by USD 22 million in the timeframe of last five years. Retailers is estimated to foreseen highest growth rate over 13.5% by 2024. Wholesalers buy seeds from farmers in huge quantities, stock in warehouses and resell them to retailers. Organic seed distribution from wholesalers will generate revenue over USD 3 billion by 2024.
Upsurge in demand for non-synthetic foods & beverages particularly in the emerging countries coupled owing to increased disposable income has improvised distribution channel. Government involvement in supply chain system through various organizations, association, cooperatives and agencies will encourage organic seed market growth. U.S. organic seed market for crops was worth more than USD 460 million in 2015. Favorable government regulations for non-synthetic farming and consumer awareness pertaining to health effects will drive the regional demand.
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. China organic seed market size is estimated to witness over 13% growth up to 2024. Increase in disposable income accompanied by inclination towards consuming natural foods are the factors driving industry trends. The natural food industry is continuing to grow, with its sales over USD 39 billion in 2015. Supportive government regulatory norms and increasing health awareness mostly in China and India will propel the product growth.
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Global organic seed market share is highly competitive in nature due to presence of various local and regional manufacturers. Some of the key industry participants are Southern Exposure Seed Exchange, Wild Garden, Johnny's Selected, Fedco, Rijk Zwaan, Seed Saver Exchange, De Bolster, HILD Samen, Vitalis, High Mowing and Fleuren. Other manufactures include, Wild Garden Seed, Mass Plant, Fleuren, Territorial Company, Baker Creek Heirloom, Arnica Kwekerij, and Renee's Garden.