Seed Industry In India Overview 2018, Demand by Regions, Share and Forecast to 2023

Seed Industry in India Stimulated by Continuous R&D Activities

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Seed Industry in India Stimulated by Continuous R&D Activities The seed industry in India has experienced a robust growth over the past few years. The heightened government support coupled with rapid advancements in the seed technology has provided impetus to the industry.

IMARC Group’s recently published study, entitled “Seed Industry in India: Market Trends, Structure, Growth, Key Players and Forecast 2018-2023”, estimates that the seed industry in India reached a value of US$ 3.6 Billion in 2017, registering a CAGR of 17% during 2010-2017. The majority of the population in India largely depends on agricultural activities for their livelihood. In line with this, numerous agricultural institutes and associations emerged from collaborative efforts to work for a common goal of increasing R&D in the seed industry. Over the past few years, the Indian seed industry has evolved as farmers have adopted enhanced seed varieties which offer improved yield. The distribution and production of quality and affordable seeds appropriate for the myriad agro-climatic zones have contributed to the growth of the agriculture sector in India.

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Growing awareness among the farmers regarding the advantages offered by hybrid and genetically modified seeds has led to an increase in their demand. Further, the policies and plans initiated by the Indian Government, such as National Food Security Mission (NFSM), National Mission on Agricultural Extension and Technology (NMAET), National Policy for Farmers (NPF), etc., are providing a positive thrust to the growth of the industry. The manufacturers are also consistently developing innovative seed technologies with improved nutrition profiles and production yield. Moreover, the presence of a wellestablished consumer-base including large-scale farmers, government organizations, cooperatives, village societies, etc. maintains a consistent demand for seeds. Some of the other growth-inducing factors include commercialization of agriculture, public-private collaborations, inflating income levels, intellectual rights and patent protection systems. Looking forward, the market is projected to reach a value of US$ 8.1 Billion by 2023, expanding at a CAGR of 14% during 2018-2023.

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Market Summary: •

Based on crop, the market has been segmented into wheat, paddy, vegetables, cotton, maize, groundnut, soybean and others. Currently, wheat represents the most popular type of crop as it is a staple food for most Indians and is also used in various processed products, such as raised breads, biscuits and other bakery items.

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On a geographical front, Uttar Pradesh represents the largest market for seeds in India, accounting for around 12% of the total market share. Other major regions are Madhya Pradesh, West Bengal, Rajasthan, Punjab, Maharashtra, Andhra Pradesh, Bihar, Karnataka and Others.

The competitive landscape of the market is highly fragmented in nature with the presence of a large number of unorganized players. Some of the key players operative in the market are Advanta, DuPont, Kaveri Seeds, Syngenta, Monsanto and J K Seeds.

Browse More Related Reports: Biofertilizer Market: https://www.imarcgroup.com/biofertilizer-azotobacter-and-rhizobium-manufacturing-plant Seeds Market: https://www.imarcgroup.com/prefeasibility-report-seed-processing-plant

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