b'Vegetable demand drives globalseeds growthLeading crop seed markets in 2022 ($ billion) The global vegetable seeds market,valued at around $8 billion in 2022,Corn (maize) is the largest crop sector after cornand soybean. Soybean Up to 80% of global vegetable seedsales are generated by 10 countries:Vegetables China, India, Japan, South Korea, France, Italy, Spain, US, Mexico and Brazil.RapeseedPopulation and economic growth, 0 5 10 15 20 urbanization, dietary changes and Data compiled December 2023. technology are driving the growth ofSource: S&P Global Commodity Insights. 2024 S&P Global. the vegetable seeds market.A key characteristic of this sector is its highly fragmented market, with over 40 different vegetable crops in different categories, species and families. This provides both opportunities, such as the ability to establish strong positions in particular niches, and challenges, particularly with respect to the organization and supply of complex product ranges.The vegetable seeds market is highly competitive, with 12 companies generating annual sales of over $100 million.Most companies offer more than 30 crop species, with eight specializing in vegetable seeds. Research and development expenditure in the sector is high, reflecting the rapid technological advancements in genomic traits and innovation relatedto crop yields and characteristics. Recent examples include health/nutritional brands, snacking brands, processing/industry-focused brands, brands for supermarket shelves, concept brands and brands for enhanced tastes. Hybrid seeds dominate the market, accounting for 80%90% of vegetable species. The growth of the vegetable seed market depends on factors such as domestic consumption, exports and the expansion of protected agriculture, which can significantly increase yields. China, India, Spain, Mexico and Japan are key players in protected agriculture. S&P Global Commodity Insights provides an in-depth analysis of the sector, including key playersand trends, in its Global Vegetable Seed Markets report.Please visit our booth on the second floor at the WSC for engaging discussions and further insights. To get in touch with our team, please click here.INTERNATIONAL EDITION 2024SEEDWORLD.COM /29FINAL-Seed-World-2024-SPG-Crop-Science-Ad-1.indd 1 26/04/2024 13:06:24'