Carrot Seed Market Trends and Forecast
The future of the global carrot seed market looks promising with opportunities in the farmland and greenhouse markets. The global carrot seed market is expected to reach an estimated $1.7 billion by 2030 with a CAGR of 6.0% from 2024 to 2030. The major drivers for this market are growing consumer demand for organic & natural products and rising awareness of the health benefits of carrots.
• Lucintel forecasts that large carrot is expected to witness higher growth over the forecast period.
• Within this market, farmland is expected to witness higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Carrot Seed Market
• United States: Monsanto recently announced the development of a new high-yield carrot seed variety tailored for the U.S. climate. This initiative aligns with the USDAÄX%$%Xs goal to enhance vegetable production and sustainability. Additionally, Sakata Seed America has launched a breeding program focused on disease resistance to cater to organic farmers.
• India: The Indian government, under its National Horticulture Mission, has been promoting the cultivation of high-quality carrot seeds through subsidies and training programs. East-West Seed India has expanded its research facilities to develop heat-tolerant carrot seeds suitable for the diverse Indian climate.
• China: Known for its vast vegetable production, China’s Bejo Seeds has announced a strategic partnership with local farmers to improve carrot seed varieties. The Chinese government’s Five-Year Agricultural Plan includes targets to increase the production and export of premium carrot seeds.
• Netherlands: Rijk Zwaan, a Dutch company, has introduced a new carrot seed variety that promises higher yields and better resistance to pests. The Dutch government’s investment in agricultural innovation has supported research and development in this sector, aiming to position the Netherlands as a leader in seed technology.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Carrot Seed Market by Segment
The study includes a forecast for the global carrot seed market by type, application, and region.
Carrot Seed Market by Type [Value from 2018 to 2030]:
• Large Carrots
• Cherry Carrots
Carrot Seed Market by Application [Value from 2018 to 2030]:
• Farmland
• Greenhouse
• Others
Carrot Seed Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Carrot Seed Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies carrot seed companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the carrot seed companies profiled in this report include-
• Monsanto
• Syngenta
• Bayer
• Sakata
• Volo Agri
• Takii
• East-West Seed
Recent Development in the Carrot Seed Market
• Vilmorin & Cie: Vilmorin & Cie has recently launched a new variety of carrot seeds that offer improved resistance to common pests and diseases. This development aims to increase yield and reduce the need for chemical treatments, aligning with sustainable agricultural practices and meeting the growing demand for organic produce.
• Takii & Co., Ltd.: Takii & Co. has introduced a high-yielding carrot seed variety specifically bred for enhanced sweetness and vibrant color. This innovation targets both fresh produce markets and the processing industry, catering to consumer preferences for visually appealing and flavorful carrots.
• Nongwoo Bio: Nongwoo Bio has developed a genetically enhanced carrot seed that can thrive in diverse climatic conditions, providing farmers with greater flexibility and reliability. This advancement addresses the challenges posed by climate change and ensures consistent production regardless of environmental variations.
• Enza Zaden: Enza Zaden has released a new hybrid carrot seed designed for better storage and shelf-life, reducing post-harvest losses. This seed variety supports supply chain efficiency and profitability for growers and distributors, aligning with market trends towards reducing food waste and enhancing sustainability.
• BASF Vegetable Seeds: BASF Vegetable Seeds, through its Nunhems brand, has introduced an innovative carrot seed that focuses on rapid growth and early maturity. This development allows for quicker harvest cycles and increased annual yields, helping farmers maximize their production potential and meet market demand efficiently.
Features of the Global Carrot Seed Market
Market Size Estimates: Carrot seed market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Carrot seed market size by type, application, and region in terms of value ($B).
Regional Analysis: Carrot seed market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the carrot seed market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the carrot seed market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the carrot seed market size?
Answer: The global carrot seed market is expected to reach an estimated $1.7 billion by 2030.
Q2. What is the growth forecast for carrot seed market?
Answer: The global carrot seed market is expected to grow with a CAGR of 6.0% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the carrot seed market?
Answer: The major drivers for this market are growing consumer demand for organic & natural products and rising awareness of the health benefits of carrots.
Q4. What are the major segments for carrot seed market?
Answer: The future of the carrot seed market looks promising with opportunities in the farmland and greenhouse markets.
Q5. Who are the key carrot seed market companies?
Answer: Some of the key carrot seed companies are as follows:
• Monsanto
• Syngenta
• Bayer
• Sakata
• Volo Agri
• Takii
• East-West Seed
Q6. Which carrot seed market segment will be the largest in future?
Answer: Lucintel forecasts that large carrot is expected to witness higher growth over the forecast period.
Q7. In carrot seed market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the carrot seed market by type (large carrots and cherry carrots), application (farmland, greenhouse, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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