India Seeds Market [2029] Growth, Trends, Forecast

Summary

Report Description

India seeds market was valued at USD 3,914.36 million in 2023 and is further anticipated to grow at a CAGR of 7.41% during the forecast period, owing to the rising awareness regarding the benefits of using hybrid seeds. The growth of the market is primarily driven by the increasing demand for better quality seeds. Seed is defined as a fertilized ovule, which contains the plant embryo. It is a mature ovule that consists of an embryo or a miniature undeveloped plant and food reserves, all enclosed within a protective seed coat. The seed is a basic part of any plant. Seeds perform diverse functions in a plant including nourishment of embryo, dispersal to a new site, and hibernation during unfavorable climatic conditions.

India is endowed with the second-largest arable land area in the world, fifteen major climatic zones, and forty-six soil types out of a global total of sixty. This diversity provides us with the opportunity to carry out breeding and evaluation research in most of the world. Furthermore, Indian farmers are highly innovative and responsive to new technologies, as evidenced by their adoption of the Bt cotton technology. India's strength lies not only in its physical characteristics, but also in its values, culture, and traditions. This has been evidenced to the world through the Green Revolution, which enabled the country to achieve self-sufficiency in food grain production. The Indian seeds market is a growing market, and the leading companies are well-positioned to capitalize on this growth. They have strong product portfolios, distribution networks, and marketing strategies. They are also investing in research and development to develop new and improved seed varieties.

The seed replacement rate among hybrids in crops such as cotton, sunflower, jowar, and bajra is 100%, however, the seed replacement rate in OPVs in Indian agriculture is sub-par. To ensure the future growth of the sector, the industry, in conjunction with the public extension system, must increase the SRR from the current level by 2 to 17%, depending on the crop. The immediate objective should be to enhance the Sugar Residue Ratio (SRR) in food crops such as paddy, wheat and pulses. Since the implementation of the Plant Protection and Refrigeration (PPV & FR) Act, the private industry has invested heavily in research and development in this area, and it is evident that there is an increasing demand for proprietary varieties for these crops. In contrast, the SRR of maize is particularly low in certain areas of the state of Rajasthan, which is home to the largest maize area in the country. Therefore, the development of suitable hybrids for this area is likely to result in a significant increase in SRR.

The Indian population's changing lifestyle and dietary habits have led to an increase in the consumption of fruits and vegetables. As a result, the area and production of these crops is expanding due to the demand created by the rising incomes. This will lead to an increased demand for hybrid vegetable seeds. Additionally, genetically modified traits, such as Bt brinjal, will add further value to the vegetable seeds market.

Increasing Foreign Investments and Technological Advancements is Driving Market Growth
The seed industry has recently gained the attention of investors, and Indian investors are eager to see several Initial Public Offering (IPOs) from the seed industry. The government of India has granted foreign direct investment (FDI) in certain agri-related sectors, including seed production. Private equity firms, such as the Blackstone Group and Summit partners, have invested in the seed industries, with the latter having acquired stakes in two of the largest seed companies in India, Nuziveedu Seeds Limited and one seed company Krishi Dhan Seeds. The capital injection will enable the development of the necessary infrastructure for the rapid expansion of the Indian seed industry.

The seed industry is the primary vehicle of technologies designed to enhance productivity. The world was astounded by the rapid adoption of the Bt cotton technology. In this context, the new technology refers to any innovations in seed that farmers find value-for-money. This could be a biotechnological trait, a new hybrid/variety, or a value-add to seed. In addition to public investments in research and development, the private sector has seen a surge in biotechnology/breeding research. The private sector is sponsoring research in both domestic and international research institutions, either on their own or through consortium platforms. For example, rice hybrids with greater adaptability and fine grain quality are expected. This will significantly contribute to the growth of the seed industry. Additionally, biotechnological traits on a number of important crops are in the process of regulatory approval.

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Geographical Expansion among Top Players is Driving Market Growth
Organizations are seeking to explore potential export markets in Asia, including Bangladesh, Pakistan, and Sri Lanka, as well as in Indonesia, Malaysia, and African countries such as Tanzania, Ghana, and Ethiopia, as well as Nigeria, Sudan, and Kenya. The lack of hybrid seed availability in these countries, combined with the adaptability of India's crop germplasm, presents a significant opportunity for Indian seed players. At minimal additional research and development costs, businesses can expand in these countries. In East Africa, over 80 Indian enterprises have invested a total of USD 1350 million in food grain production and plantation crops. Companies are seeking improved seed from India. However, before travelling to foreign countries, it is advisable to take the seed to regions within the country, such as the Northeastern States, where the seed industry is largely non-existent.

Major Challenges Faced by India Seeds Market
Certified seeds are typically valid for a single season and must be renewed for the following season. Retailers are not capable of storing certified seeds for an entire year. Due to the unpredictable nature of nature, fluctuations in commodity prices and other factors, it is extremely challenging for private or cooperative seed dealers to accurately forecast the demand for certified seeds.

The monitoring of seed quality at the selling points is not feasible or cost-effective. In fact, the dealers even sell seeds whose samples have not passed laboratory tests by seed certification bodies (SSCs). Furthermore, the seed producing and marketing agencies have no control over their production once the seed is sold.

The agriculture department's range of extension services leaves a lot to be desired when it comes to the efficacy of the programmes they provide for the promotion of contemporary agricultural practices, including improved seed practices. Generally, agricultural supervisors are only active for the purpose of demonstrating their objectives that have been achieved, such as the distribution of mini kits and field demonstrations, rather than focusing on the result-oriented approach. Popularization of a particular variety over an extended period of time is not due to a lack of activity on the part of the extension networks, but rather due to factors such as crop performance and availability of a particular seed variety.

Recent Developments

Advanta Seeds launched a new variety of cotton seed, ADV-1368, which is resistant to the pink bollworm pest. This new variety is expected to help farmers increase their cotton yields and reduce their crop losses.
Corteva Agriscience launched a new variety of wheat seed, HD 2009, which is resistant to the yellow rust disease. This new variety is expected to help farmers increase their wheat yields and reduce their crop losses.
In June 2022, Advanta Seeds acquired the vegetable seed business of Rasi Seeds. This acquisition will help Advanta Seeds to expand its vegetable seed portfolio and strengthen its position in the Indian vegetable seeds market.
In March 2022, Kaveri Seeds acquired the hybrid seed business of Krishi Dhan Seeds. This acquisition will help Kaveri Seeds to expand its hybrid seed portfolio and strengthen its position in the Indian hybrid seeds market.

Market Segmentation
India seeds market is segmented based on product type, crop type, availability, sales channel, and region. Based on product type, India seeds market is divided into varietal seeds, hybrid seeds, and genetically modified seeds. Based on crop type, India seeds market is segmented into cereals, fruits & vegetables, oilseeds, cotton, others. Based on availability, India seeds market is divided into farm saved, and commercial. Based on sales channel, India seeds market is segregated into indirect and direct. Based on region, India seeds market is divided into West region, South region, East region, and North region.

Market Players
Corteva Agriscience Private Limited, Bayer CropScience Limited, Syngenta India Private Limited, Kaveri Seed Company Limited, Nuziveedu Seeds Ltd, National Seeds Corporation Limited, DCM Shriram Consolidated Ltd, Maharashtra Hybrid Seeds Company Private Limited, Rallis India Limited, Advanta Seeds Limited, and Rasi Seeds Private Limited are some of the key players operating in the India seeds market.

Attribute	Details
Market Size Value in 2023	USD 3,914.36 Million
Revenue Forecast in 2029	USD 6,082.58 Million
Growth Rate	7.41%
Base Year	2023
Historical Years	2019 – 2023
Estimated Year	2024
Forecast Period	2025 – 2029
Quantitative Units	Revenue in USD Million, Volume in Thousand Tonnes, and CAGR for 2019-2023 and 2024-2029
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	Product Type Crop Type Availability Sales Channel Region
Regional Scope	West Region; South Region; East Region; North Region
Key Companies Profiled	Corteva Agriscience Private Limited, Bayer CropScience Limited, Syngenta India Private Limited, Kaveri Seed Company Limited, Nuziveedu Seeds Ltd, National Seeds Corporation Limited, DCM Shriram Consolidated Ltd, Maharashtra Hybrid Seeds Company Private Limited, Rallis India Limited, Advanta Seeds Limited, Rasi Seeds Private Limited
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:
In this report, India seeds market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

· India Seeds Market, By Product Type:

o Varietal Seeds

o Hybrid Seeds

o Genetically Modified Seeds

· India Seeds Market, By Crop Type:

o Cereals

o Fruits & Vegetables

o Oilseeds

o Cotton

o Others

· India Seeds Market, By Availability:

o Farm Saved

o Commercial

· India Seeds Market, By Sales Channel:

o Indirect

o Direct

· India Seeds Market, By Region:

o West Region

o South Region

o East Region

o North Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India seeds market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Table of content

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 On India Seeds Market

4. Executive Summary

5. Voice of Customers

5.1. Brand Awareness

5.2. Factors Affecting Purchase Decision

5.3. Challenges & Unmet Needs

6. India Seeds Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value & Volume

6.2. Market Share & Forecast

6.2.1. By Product Type (Varietal Seeds, Hybrid Seeds, Genetically Modified Seeds)

6.2.2. By Crop Type (Cereals, Fruits & Vegetables, Oilseeds, Cotton, Others)

6.2.3. By Availability (Farm Saved, Commercial)

6.2.4. By Sales Channel (Indirect, Direct)

6.2.5. By Region (West Region, South Region, East Region, North Region)

6.3. Product Market Map

7. India Varietal Seeds Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value & Volume

7.2. Market Share & Forecast

7.2.1. By Crop Type

7.2.2. By Sales Channel

7.2.3. By Region

7.2.3.1. By Top 3 States in Each Region

7.2.4. By Company

7.3. Product Benchmarking

8. India Hybrid Seeds Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value & Volume

8.2. Market Share & Forecast

8.2.1. By Crop Type

8.2.2. By Sales Channel

8.2.3. By Region

8.2.3.1. By Top 3 States in Each Region

8.2.4. By Company

8.3. Product Benchmarking

9. India Genetically Modified Seeds Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value & Volume

9.2. Market Share & Forecast

9.2.1. By Crop Type

9.2.2. By Sales Channel

9.2.3. By Region

9.2.3.1. By Top 3 States in Each Region

9.2.4. By Company

9.3. Product Benchmarking

10. Market Dynamics

10.1. Drivers

10.2. Challenges

11. Impact Analysis

12. Market Trends & Developments

13. Policy & Regulatory Framework

14. Trade Dynamics

14.1. Import & Export Analysis

14.2. Trade Balance

15. India Economic Profile

16. Competitive Landscape

16.1. Company Profiles

16.1.1. Corteva Agriscience Private Limited

16.1.2. Bayer CropScience Limited

16.1.3. Syngenta India Private Limited

16.1.4. Kaveri Seed Company Limited

16.1.5. Nuziveedu Seeds Ltd

16.1.6. National Seeds Corporation Limited

16.1.7. DCM Shriram Consolidated Ltd

16.1.8. Maharashtra Hybrid Seeds Company Private Limited

16.1.9. Rallis India Limited

16.1.10. Advanta Seeds Limited

16.1.11. Rasi Seeds Private Limited

17. Strategic Recommendations

18. About Us & Disclaimer

Figures and Tables

Figure 1: India Seeds Market Size, By Value (USD Million), 2019-2029F

Figure 2: India Seeds Market Size, By Volume (Thousand Tonnes), 2019-2029F

Figure 3: India Seeds Market Share, By Product Type, By Value, 2019-2029F

Figure 4: India Seeds Market Share, By Crop Type, By Value, 2019-2029F

Figure 5: India Seeds Market Share, By Availability, By Value, 2019-2029F

Figure 6: India Seeds Market Share, By Sales Channel, By Value, 2019-2029F

Figure 7: India Seeds Market Share, By Region, By Value, 2019-2029F

Figure 8: India Seeds Market Map, By Product Type, Market Size (USD Million) & Growth Rate (%), 2023

Figure 9: India Seeds Market Map, By Crop Type, Market Size (USD Million) & Growth Rate (%), 2023

Figure 10: India Seeds Market Map, By Availability, Market Size (USD Million) & Growth Rate (%), 2023

Figure 11: India Seeds Market Map, By Sales Channel, Market Size (USD Million) & Growth Rate (%), 2023

Figure 12: India Seeds Market Map, By Region, Market Size (USD Million) & Growth Rate (%), 2023

Figure 13: India Varietal Seeds Market Size, By Value (USD Million), 2019-2029F

Figure 14: India Varietal Seeds Market Size, By Volume (Thousand Tonnes), 2019-2029F

Figure 15: India Varietal Seeds Market Share, By Crop Type, By Value, 2019-2029F

Figure 16: India Varietal Seeds Market Share, By Sales Channel, By Value, 2019-2029F

Figure 17: India Varietal Seeds Market Share, By Region, By Value, 2019-2029F

Figure 18: India Varietal Seeds Market Share, By West Region, By States, By Value, 2019-2029F

Figure 19: India Varietal Seeds Market Share, By South Region, By States, By Value, 2019-2029F

Figure 20: India Varietal Seeds Market Share, By North Region, By States, By Value, 2019-2029F

Figure 21: India Varietal Seeds Market Share, By East Region, By States, By Value, 2019-2029F

Figure 22: India Varietal Seeds Market Share, By Company, By Value, 2019-2029F

Figure 23: India Hybrid Seeds Market Size, By Value (USD Million), 2019-2029F

Figure 24: India Hybrid Seeds Market Size, By Volume (Thousand Tonnes), 2019-2029F

Figure 25: India Hybrid Seeds Market Share, By Crop Type, By Value, 2019-2029F

Figure 26: India Hybrid Seeds Market Share, By Sales Channel, By Value, 2019-2029F

Figure 27: India Hybrid Seeds Market Share, By Region, By Value, 2019-2029F

Figure 28: India Hybrid Seeds Market Share, By East Region, By States, By Value, 2019-2029F

Figure 29: India Hybrid Seeds Market Share, By South Region, By States, By Value, 2019-2029F

Figure 30: India Hybrid Seeds Market Share, By West Region, By States, By Value, 2019-2029F

Figure 31: India Hybrid Seeds Market Share, By North Region, By States, By Value, 2019-2029F

Figure 32: India Hybrid Seeds Market Share, By Company, By Value, 2019-2029F

Figure 33: India Genetically Modified Seeds Market Size, By Value (USD Million), 2019-2029F

Figure 34: India Genetically Modified Seeds Market Size, By Volume (Thousand Tonnes), 2019-2029F

Figure 35: India Genetically Modified Seeds Market Share, By Crop Type, By Value, 2019-2029F

Figure 36: India Genetically Modified Seeds Market Share, By Sales Channel, By Value, 2019-2029F

Figure 37: India Genetically Modified Seeds Market Share, By Region, By Value, 2019-2029F

Figure 38: India Genetically Modified Seeds Market Share, By West Region, By States, By Value, 2019-2029F

Figure 39: India Genetically Modified Seeds Market Share, By South Region, By States, By Value, 2019-2029F

Figure 40: India Genetically Modified Seeds Market Share, By North Region, By States, By Value, 2019-2029F

Figure 41: India Genetically Modified Seeds Market Share, By East Region, By States, By Value, 2019-2029F

Figure 42: India Genetically Modified Seeds Market Share, By Company, By Value, 2019-2029F

Figure 43: India Total Seeds Imports & Exports, By Value (USD Thousand), 2017-2021

Figure 44: India Total Seeds Imports & Exports, By Volume (Thousand Tonnes), 2017-2021

Figure 45: India Total Seeds Trade Balance, By Value (USD Thousand), 2017-2021

Figure 46: India Total Seeds Trade Balance, By Volume (Thousand Tonnes), 2017-2021

List of Tables:

Table 1: India Seeds Market, Varietal Seed offered By Companies

Table 2: India Seeds Market, Hybrid Seed offered By Companies

Table 3: India Seeds Market, Genetically Modified Seed offered By Companies

Frequently asked questions

What will be the scenario of India seeds market in 2029?

India seeds market is projected to grow at a CAGR of 7.41% and reach USD 6,082.58 million by 2029 due to rising awareness among the farmers related to the benefits of using hybrid seeds.

Who are the key players operating in the India seeds market?

Corteva Agriscience Private Limited, Bayer CropScience Limited, Syngenta India Private Limited, Kaveri Seed Company Limited, Nuziveedu Seeds Ltd, National Seeds Corporation Limited, DCM Shriram Consolidated Ltd, Maharashtra Hybrid Seeds Company Private Limited, Rallis India Limited, Advanta Seeds Limited, and Rasi Seeds Private Limited among others are some of the key players operating in the India seeds market.

What are the challenges faced by the India seeds market?

Price dynamics and poor seed monitoring & management are the challenges the market will face in coming years.

Which crop type will dominate the India seeds market during the forecast period?

Cereals will dominate in coming years due to growing demand of grains and cereals in the country.

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Press Release

India Seeds Market to Grow With a CAGR of 7.41% through 2029

Jul, 2023

Rising awareness among the farmers regarding the benefits of using hybrid seeds is driving the growth of India seeds market in the forecast period, 2025-2029.

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