New York, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "South East Asia Vegetable Seed Market - Growth, Trends and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05974138/?utm_source=GNW
The high costs which include the cost of processing and packaged seeds and the marketing costs associated with selling and distribution are some of the restraining factors.
Key Market Trends
Increased Area Under Cultivation
According to the Food and Agriculture Organization in 2018, the area harvested for vegetables in the region accounted for 10.6 million hectares, which increased from 10.4 million hectares in 2016. Vegetables are important sources of micronutrients and fibers. A major threat alarming these countries are its nutritional insecurity and deficient diet plans. Hence, catalyzing innovation at the farm level is needed to transform and position vegetable farming as an attractive business opportunity to meet the increasing demand in the region. Hence, in order to meet the increasing demand amid the fluctuating arable lands under each crop, farmers had to invest on quality seeds for better yield and productivity. The willingness and interest to grow hybrid crops are, to a large extent, governed by government legislation and policy in many of the countries studied.
Indonesia accounts for the Largest Market
Indonesia is the largest market for vegetable seeds among the Southeast Asian countries. In 2019, the country generated a revenue of USD 130.9 million. A large portion of vegetable seed is imported by the country. The country imported a volume of 689 metric tons of vegetable seeds in the year 2019. Therefore, with the objective of lowering the dependency on imports, ensuring the availability of quality seed, increasing genetic diversity, and developing the domestic seed industry, Indonesia passed the Agriculture Policy Act 2017 (revised in May 2018). An increased focus on introducing a new innovative variety of seeds by the domestic and global players in the space significantly supported the market revenues over the recent past.
Competitive Landscape
The Southeast Asian vegetable seeds market is slightly consolidated, with most active players in the market accounting for 56.6%, whereas other local players accounted for 43.4% of the market in 2019. Syngenta accounted for a higher share of 11.9% of the market, followed by BASF SE with 10.5%. Seeds are sold in package sizes tailored to the needs of smallholders. In the Philippines, the largest hybrid vegetable seed producer is East-West Seed, which accounts for a major share in the local market.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05974138/?utm_source=GNW
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"vegetable" - Google News
September 24, 2020 at 10:23AM
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The Southeast Asian vegetable seeds market is slightly consolidated, with most active players in the market accounting for 56.6%, whereas other local players accounted for 43.4% of the market in 2019 - GlobeNewswire
"vegetable" - Google News
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