Ghana Seed 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 Seed 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, growing at a CAGR of 5.78% during the forecast period (2024-2029).
- Ghana's seed sector has grown significantly over the last decade; with the development and availability of improved and locally adapted seed varieties, the adoption rate is still marginal, with just about 30% of farmers using improved varieties as of 2022.
- As a result of population expansion and a steady land degradation rate, the per capita land is anticipated to decrease in Ghana. The decreasing per capita availability of arable land is a significant concern for ghana agricultural production. However, it is considered to be a driver for the seed industry. The need to produce more from the decreasing per capita arable land to get higher returns can be possible using high-yielding and hybrid varieties. This trend encourages farmers to shift their focus from conventional seed sources to packaged seeds that promise better returns.
- Moreover, the demand for seeds across the country is still untapped and provides multinational corporations with various opportunities for expansion and a broad customer base. Also, the increased area under cultivation of vegetables on account of the changing dietary preferences of the population, as well as the increased cash flows received by farmers on history of vegetable cultivation, is further driving the growth of the seed market in Ghana.
- Furthermore, several players are taking initiatives to boost the growth of the seed market. For instance, an initiative like "1" Household, 1 Garden" "un by Agrihouse Foundation in Ghana is motivating and supporting the people of ghana to contribute to the growth of the seed market.
Ghana Seed Market Trends
Growing Demand for Certified Seeds
Quality seeds are a prerequisite to thriving agriculture and constitute a significant pathway for achieving national food security goals for Ghana, where agriculture is the prime mover of the national economy.
Crops such as corn, rice, cowpea, soybean, sorghum, and peanut are mainly regulated for seed production in Ghana, among which corn and rice seeds form the bulk of certified seed production. The Ghana Seed Inspection Division (GSID) of the Ministry of Food and Agriculture (MOFA) is the Government of Ghana's institution mandated to inspect and certify seeds produced at every stage of seed production from the production of Breeder's seed, foundation seed, and certified seed.
Government initiatives such as subsidy programs are a prominent factor behind the increased production of certified seeds in the country. For instance, according to the Ministry of Food and Agriculture, Ghana, the total production of certified seeds in Ghana in 2020 was 17,204.94 metric tons which increased by approximately 44.5% and reached 24,854 metric tons in 2021. Furthermore, due to government initiatives, the number of registered private seed companies supplying certified has also grown from 203 in 2020 to 452 in 2021.
Moreover, initiatives launched by several authorities are further boosting the demand for certified seeds in the region. For instance, in November 2022, The Board of Directors of the African Development Fund approved a USD 27.9 million grant to Ghana to develop the agricultural value chain in the Savannah region. The grant will support farmers with farm inputs to produce climate-resilient rice, maize, and soybean. It will also support the production of certified seeds.
Decrease in Arable Land
The decreasing per capita availability of arable land is a major concern for agricultural production in Ghana. The arable land in Ghana was reduced from 2017 to 2020. The total arable land in Ghana in 2017 was around 2,652,000 hectares which declined by approximately 5.2% and reached 2,513,400 hectares in 2020.
The need to increase production from the fluctuating arable land to get higher returns can be met using HYVs and hybrid varieties. This trend encourages farmers to shift their focus from conventional seed sources to packaged seeds, which promise better returns. Hence, to meet the increasing food demand, the production of crops, such as cereals and pulses, needs to increase despite the limited availability of arable land. This has propelled the farmers in the country to adopt high-yielding varieties to produce more within the limited available land. This, in turn, drives the growth of the market.
The fluctuating arable land is encouraging corporations and farmers to pool their resources for contract farming, especially for crops such as maize and rice in the country. The increasing contract farming practices help converge a large set of farmers to one point for seed selection. This maintains uniformity in the produce, thereby assisting the seller in obtaining sustainable demand and augmenting the bulk sale of seeds.
Maize is a staple food and plays a significant role in Ghana's food security. The GOG exerts considerable pressure to ensure adequate maize production to meet domestic consumption requirements. Therefore, maize hybrid seed use is becoming highly important for Ghana to reach its targeted production. Thus, government policies promoting the development of the seed sector to ensure sufficient domestic production are expected to drive the market.
The major players within the market are majorly focusing on research and development activities to produce new seed varieties, which are embedded with the characteristics of high yield and reduced crop damage.
Ghana Seed 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 Seed 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 Seed Market News
- 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 $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.
- June 2022: AGRA launched the SeedSAT project in conjunction with Ghana's department of food and agriculture to ensure that high-quality seeds are distributed and planted across the country.
Ghana Seed 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
- 4.3 Market Restraints
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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
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5.1 Type
- 5.1.1 Non-GM/Hybrid Seeds
- 5.1.2 GM Seeds
- 5.1.3 Open-pollinated Varieties
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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
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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 Corteva Agriscience
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityGhana Seed 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 million) 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 Seed 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 Seed 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.
