The organic seed market was over $ 1.5 billion in 2014. The rising demand for organic food in the recent time is estimated to boost the market in the future. Impact of negative health related harmful chemicals used in agriculture has raised the demand.
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Private agencies and government initiatives regarding agriculture is anticipated to play major role in driving the future market. Quick rise in requirement has resulted owing to the increasing consciousness about health related in terms of consumption of organic food.
These products have numerous better qualities like high antioxidants & other dietary standards. These food products do not have any exposure to harmful chemicals like insecticides, fertilizers, and pesticides are considered better than the conventional corresponding items.
The market is bifurcated into products and regions. The major products are fruits & nuts, seeds of vegetables, field crops, and other plants. Fruits & nuts and Vegetables are said to show the highest rate of growth in the future. Pastures and forages are the vegetable kind which reports for the maximum farmable in comparison to rest of the products.
Rising accessibility of product and increasing alertness of benefits of food, especially in upcoming regions is anticipated to raise the market over the forecast period. Seeds modified genetically and concerns about chemicals shifted the preferences of the consumers. This will support the business in the future.
Europe and North America had covered more than half of the global market in the past and is anticipated to continue being at the top due to rising requirement of organic food. North America claimed the maximum shares of the global market. Asia Pacific followed North America followed by Europe.
Asia Pacific is anticipated the maximum rate of growth over the forecast period due to numerous important features like growing awareness of health, increase in disposable income, and regulatory framework being favourable. Agricultural agencies and governments took up many schemes like tax incentives and favourable policies with intention of encouraging organic farming. Rising awareness of food benefits and this type of initiatives are anticipated to aid the market over the forecast period.
The major industries are Seeds of Change, Fedco Seeds, Seed Savers Exchange, Fleuren, Maas Plant, and few more.
Information Source: Grand View Research