Sri Lanka Seed Market Size (2024 - 2029)

Sri Lanka Seed Market Analysis

The Sri Lanka Seed Market size is estimated at USD 13.08 million in 2024, and is expected to reach USD 15.34 million by 2029, growing at a CAGR of 3.24% during the forecast period (2024-2029).

• In Sri Lanka, seed production activities are dominated by the public sector, notably the Department of Agriculture's Seed and Planting Material Development Centre. Most of the quality seed in the country is imported and distributed to farmers by the private sector. As Sri Lanka is dependent to a large extent on imported seed, in the past year, the Department of Agriculture and Lal Teer Seed of Bangladesh implemented a project to increase vegetable seed production in the country. Furthermore, the country has chosen a sui generis system for plant variety protection.More and more, it's important to protect the rights of plant breeders with good laws, which would encourage more private companies to get involved.
• Moreover, the increasing production of cereal crops and vegetables in the country and the growth in the area under harvest of these crops have resulted in the growth of the market and hence driven the market forward in the country.
• According to the Food and Agriculture Organization Corporate Statistical Database, the cereal production in the country has increased by 12.3% in 2020, reaching 5.4 million metric tons, and the area under harvest has increased by 12.1%, accounting for 1.1 million hectares in 2020. Similarly, the country's vegetable production volume was 1.3 million metric tons during the same year, which was an increase of nearly 50% from the previous year. Variation in cereal and vegetable production necessitated the use of quality seed to ensure consistent production and productivity.

Sri Lanka Seed Industry Segmentation

A seed is the unit of reproduction of a flowering plant, capable of developing into another such plant. For the purpose of this report, the seeds used for sowing have been considered for market estimations and forecasts. The market does not include seeds used for human or animal consumption. The Sri Lanka Seed Market is Segmented by Product Type (Hybrid (Transgenic and Non-Transgenic) and Open Pollinated), Crop Type (Grains and Cereals (Rice, Maize, Soybean, and Other Crop Types), and Vegetables (Tomatoes, Pumpkin, Squash and Gourd, Chillies and Peppers and Other Vegetables). The report offers market estimation and forecast in value (USD million) and volume (Metric Ton) for the above-mentioned segments.