Okra is one of the vegetables extensively cultivated in sub-tropical areas of the world. The high yield associated with the okra crop with the small duration of the crop cultivation makes it economically attractive to several farmers. This leads to the growing demand for crops. Food and vegetables are important things for human beings. The Okra Seeds Industry will gain a 11% CAGR from 2022 to 2023 and USD 380 million by 2030. Due to the great nutritional value that the okra seeds contain, the market gets a lot of advantages and demand. Hence, it attracts a large consumer base. People getting concerned about their health and adopting healthy foods is a major driving factor for the market. The increasing demand for hybrid okra seeds production is observed to install effective machinery to enhance the capacity. The surge in the need for healthy food consumption will increase the market in the coming years. The growing demand for organic seeds and genetically modified food solutions will support the Okra Seeds Industry. The increasing export activities and people eating okra in several parts of the world will boost the market worldwide. However, all the conditions in the world do not support the favorable condition to grow okra which can hinder the market in the forecast period.
The Okra Seeds Industry is segmented into categories, and the sub-segments of the category are organic and conventional. The rising demand for organic okra seeds among the people who want to adopt veganism will grow the Okra Seeds Industry. The growing sales of conventional okra seeds among people are expected to promote market expansion. The surge of the open-pollinated okra varieties will create conventional market support in the forecast period. The organic segment may register a 10.7% CAGR owing to the alternation in consumer preference for organic products.
The Okra Seeds Industry is analyzed in Asia Pacific, North America, Europe, and other parts. The increase in the okra seeds production due to increasing demand for food will boost the market. It will also form technical advances for the market. The Asia Pacific region is expected to hold a 9.6% CAGR in the forecast period. As the demand for disease resistance and hybrid seeds increases among the North American farmers, the market will gain momentum. The adaptation by farmers of modern farming practices will form new growth opportunities for the market. Europe consists of economically developed products, and the population is also attributing the vegan food habits to saving animals and keeping themselves fit. The market will propel by value shortly due to the recent growth factors. Some of the prominent market players of the market are Syngenta AG, Kitazawa Seed Company, Maharashtra Hybrid Seeds Company Private Limited, and Sakata Seed Corporation. These prominent market players will Improve the Okra Seeds Industry share during the forecast period.
Bayer Crop Science (BCS) plans to introduce hybrid varieties of high-yielding and disease-resistant vegetable seeds into the Indian market.
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