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Okra Seed Market Size, Share & Industry Analysis, By Trait (Hybrid, Open-pollinated Varieties), By Form (Conventional, Organic)and Regional Forecast, 2021-2028

Region : Global | Report ID: FBI103193 | Status : Ongoing

 

KEY MARKET INSIGHTS

Okra is extensively cultivated in tropical and sub-tropical areas of the world. The high yield associated with the cultivation of okra crop coupled with the small duration of the crop cultivation makes it economically attractive to many farmers and hence the cultivation of this crop is increasing. According to the Food and Agriculture Organization of the United Nations (FAO) the world okra production increased significantly from 9.35 million tons in 2016, 9.57 million tons in 2017, and 9.87 million tons in 2018. The increasing world okra production is predicted to drive the global market of okra seed.


The prominent players operating in the market are embarking on the new product launch, online sale of the product and research & development of the new hybrid okra seed varieties to ensure the supply of hybrid okra seed at cheaper rates to the growers. These aforesaid strategies are expected to help the companies to increase their prominence in the global market of okra seed.


The total yield and growth of okra depends upon various elements including seed quality, climatic conditions and cultural practices. Seed is the crucial factor that regulates the quantitative and qualitative characteristics of the crop that is going to be harvested later on. Hence, more attention directed toward increasing seed yield with good quality for the successful production of okra is expected to drive the global market of okra seed. The increasing area under the cultivation of okra is predicted to positively leverage the market growth in upcoming years. For instance, According to Food and Agriculture Organization of the United Nation (FAO) the area under the cultivation of okra has increased from 1.89 million ha in 2016 to 2.02 million ha in 2018. The high profit associated with the cultivation of vegetables such as okra which required relatively small duration for the cultivation is predicted to upsurge the demand for okra seed. Moreover, the growing interest of farmers in the cultivation of high-profit crops such as okra, tomato, and others is predicted to boost the sale of okra seeds. Furthermore, the increasing open-field as well as protected cultivation of okra to increase the quality of the crop and to boost the yield are expected to drive the demand for okra seed.


Key Market Driver -

Increasing Area under the Cultivation of Okra

Key Market Restraint -

High Price of the Hybrid Okra Seed


The relatively high price of the hybrid okra seed is anticipated to restrain the market growth in forthcoming years. Moreover, the sudden outbreak of pandemics such as COVID 19 can hamper the export and import of the various regional vegetables which is expected to hamper the cultivation of okra seed.


Key Players Covered:


The prominent players operating in the global okra seed market are Kitazawa Seed Company, Sakata Seed Corporation, Alabama Farmers’ Cooperative, Inc, UPL Limited (Advanta Seeds), Terra Agro Biotech Pvt. Ltd, Syngenta AG, BASF SE, Maharashtra Hybrid Seeds Company Private Limited, W. Atlee Burpee & Co, Western Bio Vegetable Seeds Ltd., and Others.


Hybrid okra seeds are predicted to hold a considerable share in the global market of okra seeds. Hybrid okra seeds have several benefits than open-pollinated okra seeds. Hybrid okra seeds usually produce good quality and more yield than open-pollinated okra seed. Many hybrid okra crops offer disease resistance yield. These aforementioned factors are predicted to increase the grower’s interest in the cultivation of hybrid okra seeds regardless of the higher seed costs. The rising cultivation of hybrid okra seeds is expected to drive the global market of hybrid okra seed.


The conventional form of okra seed is predicted hold a significant share in the global okra seed market. The increasing demand for okra is gravitating farmers to cultivate more yield. The cultivation of organic okra crop comes with the high maintenance cost therefore farmers prefers to cultivate conventional okra crop which is predicted to drive the global market of conventional okra seed. However, the rising awareness among consumers regarding the health benefits of organic products along with the increasing demand for organic crops are expected to leverage the cultivation of organic okra seed in the forthcoming years.


Regional Analysis:


Asia Pacific is anticipated to hold a prominent share in the global market of okra seeds. India is one of the leading producers of okra worldwide. The increasing okra cultivation in India is predicted to drive the okra seed market within the region. For instance, According to Food and Agriculture Organization of the United Nation (FAO) India produced 6.12 million tons of okra in 2018 which was around 62% of the total world okra production. Besides, the rising adoption of hybrid okra seed for the okra cultivation due to high profit and better yield quality associated with its cultivation is also predicted to be a favorable factor for market growth.


North America is anticipated to witness substantial growth in the global okra seed market. The increasing awareness about the importance of vegetables in the balanced diet is predicted to boost the demand for vegetable seed such as okra, tomato, and others within North America. According to the Centers of Disease Control (CDC’s) report more than 90% Americans are not meeting the standard for vegetables which can boost the cultivation of vegetable crops within the region which is expected to boost the demand for okra seed within North America. Moreover, the presence of prominent market players within the region is predicted to positively impact the market growth.


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Segmentation






















 ATTRIBUTE


 DETAILS

By Trait




  • Hybrid

  • Open-pollinated Varieties



By Form




  • Conventional

  • Organic



By Geography




  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)



Key Industry Developments:



  • In May 2020, The Indian Institute of Horticultural Research (IIHR) has announced the launch of a seed portal for Indian seed market. This online portal is offering more than 60 high-yielding varieties of seeds for vegetables, fruit and flower crops.

  • In Aplril 2015, Bayer CropScience announced the expansion of its research and development (R&D) facility for vegetable seeds in India. The company is actively focusing on the inbred development and crossing in vegetable crops such as okra, cabbage, tomato, onion, hot peppers, cucumber, water melon and gourds.


Okra Seed Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019

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