The agricultural sector is highly dependent on the availability and quality of seeds for a productive harvest. Therefore, in order to increase the quantity and quality of produce, efforts are made to introduce enhanced varieties of seeds with the help of advance technology and modern agricultural methods. In India, agriculture is the dominant occupation, which secures abundant opportunities for the seed market in the region. According to IMARC Group’s latest report titled, “Seed Industry in India: Market Trends, Structure, Growth, Key Players and Forecast 2019-2024”, the Indian seeds market reached a value of US$ 4.1 Billion in 2018, exhibiting a CAGR of 15.7% during 2011-2018.
The Indian seed market has witnessed a major restructuring as a result of the implementation of some progressive policies by the government. Seed Development, 1988 and National Seed Policy, 2002 have helped in strengthening the Indian seed industry in the areas of R&D, product development, supply chain management and quality assurance. Owing to this, India has emerged as the fifth largest seed market across the globe. Moreover, the active participation of both, public and private sectors has also played a vital role in laying a strong foundation of the industry. This includes launching initiatives to promote the use of hybrid seeds among the farmers who had earlier used outmoded open pollinated varieties. Some other growth-inducing forces, such as growth in income levels, commercialization of agriculture, patent protection systems and intellectual rights over plant varieties, have given a great push to the market. Owing to these factors, the Indian seeds market is further expected to grow at a CAGR of 13.6% during 2019-2024, reaching a value of US$ 9.1 Billion by 2024.
The report has segmented the market on the basis of type. Currently, grain seeds represent the largest seed type, accounting for more than a half of the total seed production. Other major seed types include oil, vegetable and fruit seeds. An analysis of the market is provided on the basis of regions. The major regions covered in the report are Uttar Pradesh, Madhya Pradesh, West Bengal, Rajasthan, Punjab, Maharashtra, Andhra Pradesh, Bihar and Karnataka. Amongst these, Uttar Pradesh represents the largest producer, accounting for around 12% of the total market share. The report has also analyzed the competitive landscape of the market and provides the profiles of the key players operative in it.
This report provides a deep insight into the Indian seeds market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, key market drivers and challenges, recent trends, market forecast, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, researchers, consultants, investors, business strategists, and all those who have any kind of stake or are planning to foray into the Indian seeds industry in any manner.
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