Ghana Seeds Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 16.61 Million |
| Market Size (2029) | USD 22 Million |
| CAGR (2024 - 2029) | 5.78 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Ghana Seeds Market Analysis
The Ghana Seeds Market size is estimated at USD 16.61 million in 2024, and is expected to reach USD 22 million by 2029, at a CAGR of 5.78% during the forecast period (2024-2029).
- Ghana's seed market has experienced significant growth over the past decade. Despite the development and availability of improved and locally adapted seed varieties, the adoption rate remains marginal. According to the National Seed Trade Association Ghana (NASTAG), only about 35-40% of farmers were using improved varieties as of 2023.
- Ghana faces challenges due to population growth and land degradation, leading to an anticipated decrease in per capita land availability. For example, cassava, a major crop in Ghana's farming systems, has seen a reduction in cultivation area from 10.6 million hectares in 2020 to less than 10.4 million hectares in 2023, as reported by the Food and Agriculture Organization of the United Nations. This decreasing per capita availability of arable land is a significant concern for Ghana's agricultural production. However, it also serves as a driver for the seed industry. The need to increase production from diminishing arable land to achieve higher returns can be addressed using high-yielding and hybrid varieties. This trend is encouraging farmers to shift from conventional seed sources to packaged seeds that offer better yields.
- The demand for seeds across Ghana remains largely untapped, presenting various opportunities for multinational corporations to expand and reach a broad customer base. In 2023, the East-West Seed Foundation initiated a project called "Transforming Vegetable Farming as a Business" in Ghana. This one-year project aims to empower 11,880 farmers in the Bono, Bono East, and Ahafo regions by teaching them to grow and market vegetables profitably using superior seeds and sustainable farming practices. The initiative seeks to develop a competitive agro-input market, particularly in seeds. Additionally, the growing interest in vegetable cultivation in the country, driven by changing dietary preferences and increased cash flows for farmers, is further propelling the growth of the seed market in Ghana.
- Several players are taking initiatives to boost the growth of the seed market. For instance, the "1 Household, 1 Garden" initiative run by Agrihouse Foundation in Ghana is motivating and supporting the people of Ghana to contribute to the growth of the seed market.
Ghana Seeds Market Trends
Grains and Cereals Lead the Market
The grains and cereals segment, particularly maize, rice, and sorghum, experienced significant growth in Ghana's seed market. The Ministry of Food and Agriculture (MoFA) reported that certified seed production for maize increased from 9,500 metric tons in 2021 to 10,446 metric tons in 2023. This growth was partly attributed to the ongoing success of the Planting for Food and Jobs (PFJ) program, which continued to provide subsidized improved seeds to farmers.
In 2023, rice seed sales demonstrated even more substantial growth, with certified rice seed production reaching 6,005 metric tons. This increase is associated with the adoption of new aromatic rice varieties developed by the Council for Scientific and Industrial Research (CSIR) and released in 2023. These varieties, including "CRI-Enuoye" and "CRI-Amankwatia," have gained popularity due to their high yield potential and desirable cooking qualities.
The development of value-added services and infrastructure for grains and cereals has been a key factor in the seed market's expansion. The Ministry acquired 80 warehouses under the "One District One Warehouse" government program, aiming to increase national grain storage capacity. The program is expected to reach 150 operational warehouses by 2024. This expansion has reduced post-harvest losses and enabled farmers to store their produce for extended periods. Additionally, maize and rice have become major staple foods in Ghana, with consumption increasing annually, leading to significant demand for seeds. Consequently, farmers have shown increased willingness to invest in high-quality seeds, as they now have greater assurance of return on investment.
Growing Demand for Certified Seeds
Quality seeds are essential for a thriving agricultural sector and play a crucial role in achieving Ghana's national food security objectives. Agriculture remains the primary driver of Ghana's economy.
In Ghana, seed production is regulated for several key crops, including corn, rice, cowpea, soybean, sorghum, and peanut. Corn and rice seeds comprise the majority of certified seed production. The Ghana Seed Inspection Division (GSID) of the Ministry of Food and Agriculture (MOFA) is responsible for inspecting and certifying seeds at all stages of production, from breeder's seed to foundation seed and certified seed.
Government subsidy programs have significantly contributed to the increased production of certified seeds in the country. According to the Ministry of Food and Agriculture, Ghana's total production of certified seeds increased from 24,854 metric tons in 2021 to 26,354 metric tons in 2023, representing a growth of approximately 6.0%. Additionally, government initiatives have led to an increase in the number of registered private seed companies supplying certified seeds, from 280 in 2021 to 450 in 2023.
Various authorities have launched initiatives to further stimulate the demand for certified seeds in the region. For example, in November 2022, the Board of Directors of the African Development Fund approved a USD 27.9 million grant to Ghana for developing the agricultural value chain in the Savannah region. This grant will provide farmers with farm inputs to produce climate-resilient rice, maize, and soybean, as well as support the production of certified seeds.
Ghana Seeds Industry Overview
The Ghana Seeds Market is fragmented. Rijk Zwaan Zaadteelt En Zaadhandel BV, M&B Seeds, RMG Ghana Ltd, Seed Co Limited, and Corteva AgriScience are some of the major players operating in the market. The players are investing in new products and improvisation of products, partnerships, expansions, and acquisitions for business expansions.
Ghana Seeds Market Leaders
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Rijk Zwaan Zaadteelt En Zaadhandel BV
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M&B Seeds
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RMG Ghana Ltd
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Seed Co Limited
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Corteva AgriScience
*Disclaimer: Major Players sorted in no particular order
Ghana Seeds Market News
- November 2023: East West Seed initiated a project called "Transforming Vegetable Farming as a Business" in the Bono, Bono East, and Ahafo regions, involving 11,880 farmers. The project aims to help farmers profitably grow and market vegetables using improved seeds and sustainable farming practices. Its objectives include promoting entrepreneurship and enhancing access to finance through capacity building.
- November 2022: Ghana's Seed Experts Draft New Seed Sector Strategy and Investment Plan. The Seed Sector Strategy and Investment Plan is expected to strengthen Ghana's seed industry by promoting the adoption and utilization of certified seed by the country's farmers.
- October 2022: Standard Chartered Women in Technology Incubator program (SC-WIT) Cohort 2 awarded GHC 90,500 (USD 7479.34) each seed funding to five women-owned businesses to scale up their business operations.
- September 2022: South Korea and Ghana signed an USD 8 million agreement towards improving capacity and rice seed development, provision of agricultural machinery and equipment, and construction of a rice milling plant and agricultural equipment storage facility
Ghana Seeds Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Government Initiatives and Agriculture Policies
4.2.2 Rising Demand for Improved Crop Varieties
4.2.3 Increasing Awareness of Seed Quality
4.3 Market Restraints
4.3.1 Limited Access to Finance and Technology
4.3.2 High Seed Production Cost
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of Substitute Products
4.4.4 Threat of New Entrants
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Non-GM/Hybrid Seeds
5.1.2 GM Seeds
5.1.3 Open-pollinated Varieties
5.2 Crop Type
5.2.1 Grains and Cereals
5.2.2 Pulses and Oilseeds
5.2.3 Fruits and Vegetables
5.2.4 Other Crop Types
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Seed Co. Limited
6.3.2 Rijk Zwaan Zaadteelt En Zaadhandel BV
6.3.3 M&B Seeds
6.3.4 RMG Ghana Ltd
6.3.5 Groupe Limagrain
6.3.6 Syngenta AG
6.3.7 Meridian Seeds and Nurseries Ghana Ltd.
6.3.8 East-West Seed
6.3.9 Corteva Agriscience
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Ghana Seeds Industry Segmentation
A seed is the ripened fertilized ovule of a flowering plant containing an embryo and is capable of germination to produce a new plant. The Ghana Seeds Market is Segmented by Type (Non-GM/Hybrid Seeds, GM Seeds, and Open-pollinated Varieties) and Crop Type (Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, and Other Crop Types). The report offers market size and forecast in terms of value (USD) and volume (Metric Tons) for the above segments.
| Type | |
| Non-GM/Hybrid Seeds | |
| GM Seeds | |
| Open-pollinated Varieties |
| Crop Type | |
| Grains and Cereals | |
| Pulses and Oilseeds | |
| Fruits and Vegetables | |
| Other Crop Types |
Ghana Seeds Market Research Faqs
How big is the Ghana Seeds Market?
The Ghana Seeds Market size is expected to reach USD 16.61 million in 2024 and grow at a CAGR of 5.78% to reach USD 22 million by 2029.
What is the current Ghana Seeds Market size?
In 2024, the Ghana Seeds Market size is expected to reach USD 16.61 million.
Who are the key players in Ghana Seeds Market?
Rijk Zwaan Zaadteelt En Zaadhandel BV, M&B Seeds, RMG Ghana Ltd, Seed Co Limited and Corteva AgriScience are the major companies operating in the Ghana Seeds Market.
What years does this Ghana Seeds Market cover, and what was the market size in 2023?
In 2023, the Ghana Seeds Market size was estimated at USD 15.65 million. The report covers the Ghana Seeds Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Ghana Seeds Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Ghana Seeds Industry Report
Statistics for the 2024 Ghana Seed market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Ghana Seed analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
