Chemicals adversely affect human health as
well as the environment. Governments and environmental agencies across the
globe are taking initiatives to encourage adoption of organic farming.
Moreover, organic crops retain more nutritional properties as compared to
non-organic ones. A favorable regulatory framework is also fueling market
growth.
However, organic seeds are costly. Also, high
quality, certified seeds are limited in supply. These factors may have a
negative effect on the industry’s prospects.
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The worldwide organic seed market is
segmented on the basis of products and regions. Products are divided into
vegetable seeds, field crop seeds, fruits & nuts, and other vegetation.
Other vegetation comprises pastures and forage.
Vegetables, with about 31% share in market
revenues, was the leading product segment in 2015. This segment, along with
fruits & nuts, is projected to grow at a high rate till 2024. Although not
leaders in organic acreage, these two product categories have accounted for
significant shares of the total revenues in the years gone by.
Regions are split into North America, Asia
Pacific, Europe, Central & South America, and MEA (the Middle East &
Africa). North America reigned in 2015, occupying 36% of the market volumes. It
was followed by Europe.
Asia Pacific is likely to grow at a CAGR of
16% over the forecast period. This could be credited to rising health awareness
and disposable incomes, and a favorable regulatory environment. Prominent
regional consumers of the organic produce cultivated in the developing
economies include North America, Australia, Europe, Argentina, China, Brazil,
and India.
Key players in the worldwide organic seed
market are High Mowing Organic Seeds, Vitalis Organic Seeds, Southern Exposure
Seed Exchange, and Seed Savers Exchange. The market is characterized by
numerous domestic players, leading to stiff competition. However, exponential
growth in demand lends the suppliers a high bargaining power.
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