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Fruit & Vegetable Seed Market - New Revenue Pockets
The global fruit & vegetable seed market has drastically grown in the last few years and the same trend is expected to continue. The competition among the major market players is high. The intensive research has been done by the major market players to develop the new varieties of fruit and vegetable seed. This can be achieved with help of biotechnology and genomics. Biotech fruit and vegetable production benefits farmers and processors by improving the economic efficiency of production. Biotechnology makes sure that the materials and methods involved in fruit vegetable production, is environment friendly. Trait seed for fruit and vegetable are negligibly present in the market. Trait seeds growth can be a new approach to penetrate in the global market to get better productivity of crops. This strategy can lead growers’ as well as seed industry’s profitability.
The key market players adopted strategies such as agreements, collaborations, partnerships, and joint ventures to increase their market presence and revenue generation. Leading players focused on strengthening their R&D proficiencies by capitalizing in advanced technologies and entering into R&D agreements with other companies, to develop diversified product portfolios of fruit & vegetable seeds.
The global players have established large distribution networks across the world and follow extensive cross-selling marketing strategies. Market leaders such Bayer CropScience (Germany), Syngenta AG (Switzerland), Monsanto (U.S), and Groupe Limagrain (France) have successfully tapped the potential markets through the development of innovative product launches, partnership agreements, and expansions. These key companies focused on new product developments in the fruit & vegetable seeds industry on a regional as well as a global level, to strengthen and expand their position in the fruit & vegetable seeds market. The trend of developing fruit & vegetable seeds products for the growing demand for crops, is increasing the competition among the key players, thus increasing the competitive rivalry among the players.
Since November 2015, Bayer Crop Science opened three new institutes within its research and innovation center at Paulinia, Brazil has resistance monitoring laboratory and a center for agriculture in tropical regions. This strategy would help the company in meeting the growing demand for fruit & vegetable seeds. Bayer also underwent a major development by announcing the acquisition of GM seeds business Monsanto (U.S.) at USD 66 billion.
Another key player, Syngenta AG entered into a licensing collaboration with KWS SAAT SE (Germany) and Groupe Limagrain (France) and their joint ventures AgReliant Genectics (U.S.). Under this agreement, Syngenta provided worldwide rights to its current and future GM corn traits portfolio.
In September 2016, Monsanto Company merged along with Bayer CropScience. This merger would help Monsanto to acquire a large proportion of the market. It will serve as a great help for the farmers and distributors to meet the growing demand for food.
Fruit & Vegetable Seeds Market by Type (Brassica, Cucurbit, Leafy, Root-bulb, and Solanaceae), Trait (GM and Conventional), Form (Organic and Inorganic), Farm type (Indoor and Outdoor), and Region - Global Forecast to 2022
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