Apr. 6, 2018
The global organic seed market is expected to reach USD 4.59 billion by 2022, according to a new report by Grand View Research, Inc. Growing health consciousness and environmental awareness have resulted in shift in consumer preferences towards organic food. Such trends are projected to complement the organic seed market in the near future. Organic food products are devoid of any chemical exposure and are thus healthier than their conventional counterparts. Rising disposable income and increasing market penetration are key factors that are expected to aid the organic seed market particularly in the emerging markets of Asia Pacific and Central & South America.
High organic seed cost is anticipated to act as a major deterrent for market growth and development.Lack of awareness, high demand-supply imbalance and lower awareness regarding organic food products are some other challenges faced by market participants.
Unavailability of high quality and certified organic seeds is another prominent factor that is anticipated to negatively impact the regional as well as global market over the next seven years. Technological advancements, better value chain management and wide distribution network are a few areas which offer ample growth opportunities to the industry participants over the forecast period.