Product Code: ETC384684 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India seeds market import shipment demonstrated a strong compound annual growth rate of 8.2% from 2020 to 2024. However, there was a slight decline in growth rate between 2023 and 2024 at -1.3%. Overall, the market expanded steadily with a minor slowdown in the last year, indicating a stable growth trend.
The seeds industry in India has witnessed significant growth over recent years owing mainly to higher agricultural output and increased adoption rate among farmers who have access to advanced seed varieties coupled with technological advancements that allow them more flexibility when it comes selecting suitable crop types or combinations according their soil type and climate conditions making it easier for them manage inputs while targeting maximum returns on investment along growing health consciousness amongst consumers boosting organic farming need consequently pushing sales related activity within sector upsurge against backdrop established norms especially when pertaining sustainable development goals set forth United Nations alongside government backed subsidies incentives contributing further spur segmental gains conclusively registering impressive double digit CAGR compound annual growth rate post emergence liberalized economic policies 1990`s decade itself thereby allowing firms freedom capitalize vast opportunities endowing lucrative profits yet keeping risk involved minimal levels.
The India Seeds market has witnessed remarkable growth due to various drivers. Agriculture being a critical sector in India, the demand for high-quality seeds to achieve better crop yields and improved agricultural productivity has been a significant driver. Technological advancements in seed breeding and biotechnology have resulted in the development of genetically modified and hybrid seeds that offer improved characteristics, such as pest resistance and higher yields, attracting farmers` interest. Government support through subsidies, awareness programs, and research initiatives has encouraged the adoption of quality seeds among farmers, further boosting the market. The rising focus on sustainable agriculture and organic farming practices has also contributed to the demand for organic and non-genetically modified seeds.
The seeds market in India encounters several challenges related to research, development, and distribution of improved seeds. One primary challenge is the slow pace of research and development in seed technology. The introduction of new seed varieties that are more resistant to pests, diseases, and climate change can be limited by bureaucratic processes and regulatory hurdles.Inadequate infrastructure for seed testing, certification, and storage affects the quality and viability of seeds, leading to reduced yields for farmers. Furthermore, the dominance of informal seed systems and counterfeit seeds in some regions poses a significant challenge to the growth of the formal seeds market.
The COVID-19 pandemic significantly impacted the India seeds market. The disruptions in logistics and transportation led to delays in seed distribution, affecting planting schedules for farmers. Additionally, labor shortages during peak planting seasons further hindered agricultural activities. However, the pandemic also prompted farmers to focus on improving crop resilience and yield, leading to a rise in demand for hybrid and genetically modified seeds.
The India seeds market is dominated by both public and private sector companies involved in seed production and distribution. Key players in this sector include Monsanto India (now part of Bayer), Syngenta India, DuPont Pioneer (now part of Corteva Agriscience), and Nuziveedu Seeds Limited.