The global okra seed market size is expected to showcase considerable growth during the forecast period. This growth is attributable to the increasing production of okra owing to their high-profit margin and the growing demand for organic okra that favors the demand for okra seed globally. Fortune Business Insights published this information in its upcoming report, titled, “Okra Seed Market Size, Share Industry Analysis, By Trait (Hybrid, Open-pollinated Varieties), By Form (Conventional, Organic) and Regional Forecast, 2022-2029”
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Okra is widely cultivated across tropical and sub-tropical areas around the world. The less duration required for its cultivation makes them an economical choice for cultivation amongst farmers. The growing demand for the vegetable is propelling the adoption of okra seeds globally.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect the market growth. The report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies. It further mentions the strategies adopted by them, such as to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
DRIVING FACTORS
Increasing Demand for Organic Vegetables to Augment Growth
The growing awareness regarding the consumption of organic food products is driving the demand for organic okra seeds. High disposable income and improving living standards propel the consumers to invest in high priced organic vegetables owing to their several health benefits. Additionally, the growing cultivation of okra to gain a high profit margin is expected to favor the global okra seed market growth in the forthcoming years.
REGIONAL INSIGHTS
Increasing Adoption of Hybrid Okra Seeds in Asia-Pacific to Favor Growth
Among all the regions, Asia-Pacific is expected to showcase substantial growth and hold the highest position in the global okra seed market during the forecast period. This is attributable to the increasing adoption of hybrid okra seed owing to high profit and better yield cultivation in the region.
The market in North America is anticipated to experience considerable growth owing to the presence of prominent players that are focusing on developing hybrid vegetable seeds in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Prominent Companies Focus on RD Activities to Develop Organic Okra Seeds
The global okra seed market is consolidated by the presence of major companies that are striving to maintain their stronghold by investing in RD activities. These companies are trying to develop advanced organic okra seeds to cater to the growing demand for organic food products globally. Additionally, other key players are adopting strategies such as merger and acquisition, collaboration, and partnership to maintain their presence in the fiercely competitive global marketplace.
Industry Development:
- May 2020 – The Indian Institute of Horticultural Research (IIHR) announced the launch of a new seed portal to facilitate sales of over 60 types of high-yielding varieties of seeds such as okra seed, fruit, and vegetable.
Source:
https://www.fortunebusinessinsights.com/okra-seed-market-103193
