Market Size of Bangladesh Seed Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 338.98 Million |
| Market Size (2029) | USD 433.88 Million |
| CAGR (2024 - 2029) | 5.06 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bangladesh Seed Market Analysis
The Bangladesh Seed Market size is estimated at USD 338.98 million in 2024, and is expected to reach USD 433.88 million by 2029, growing at a CAGR of 5.06% during the forecast period (2024-2029).
- Despite population density, Bangladesh highly depends on agriculture for food security and employment. According to FAO statistics, more than 50% of the population is dependent employed in agriculture, with more than 70 % of its land dedicated to growing crops. The major crops grown in the country are rice, jute, wheat, tea, pulses, oilseeds, vegetables, and fruits. The high arable land under agriculture is increasing the demand for seeds.
- Though the public sector dominates the self-pollinating seed crops like rice, wheat, pulses, oilseed, and horticultural crops, private players play a significant role in supplying maize and other hybrid seeds.
- Furthermore, according to the FAO, Bangladesh leads vegetable production globally, increasing yearly. The seed industry of Bangladesh comprises both the public and private sectors. Bangladesh Agricultural Development Corporation (BADC), Bangladesh Agricultural Research Institute (BARI), Bangladesh Rice Research Institute (BRRI), Bangladesh Jute Research Institute (BJRI), and the Department of Agricultural Extension (DAE) are some government agencies responsible for the production and supply of commercial seeds in the market. Therefore, the high dependency on agriculture coupled with the domination of both public and private sectors is increasing the demand for grains in Bangladesh.
Bangladesh Seed Industry Segmentation
A seed is a fertilized ovule containing the plant embryo that develops into a plant. The report defines the Bangladeshi seed market in terms of end users. Only the seeds used for sowing have been considered for the study. The market does not include seeds used for human or animal consumption. Bangladesh Seed Market is Segmented by Product (Transgenic Hybrids, Non-transgenic Hybrids, and Open-pollinated Varieties) and Crop (Grains and Cereals, Pulses and Oilseeds, Cotton and Vegetables, and Other Crops). The report offers the market size and forecasts in terms of value (USD thousand) for all the above segments.
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| Transgenic Hybrids | |
| Non-transgenic Hybrids | |
| Open-pollinated Varieties |
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Bangladesh Seed Market Size Summary
The seed market in Bangladesh is poised for significant growth, driven by the country's heavy reliance on agriculture for both food security and employment. With a substantial portion of the population engaged in agricultural activities and a large expanse of arable land dedicated to crop production, the demand for seeds is on the rise. The agricultural landscape is diverse, with major crops including rice, jute, wheat, tea, pulses, oilseeds, vegetables, and fruits. While the public sector predominantly oversees self-pollinating seed crops such as rice and wheat, private entities play a crucial role in supplying hybrid seeds, particularly for maize. The seed industry is supported by both government and private sector initiatives, with key players like the Bangladesh Agricultural Development Corporation and various research institutes contributing to seed production and supply.
The market is characterized by a fragmented structure, with both public and private sectors actively participating in seed manufacturing and supply. Major companies such as Bayer, Bioseed, Advanta, and Lal Teer Seed are investing in research and development to meet the evolving needs of farmers. Government initiatives, including subsidized programs and free seed distribution, are further bolstering the market. Despite the high demand for seeds, local production is insufficient to meet the needs, leading to a reliance on imports. However, efforts are underway to enhance domestic seed production, particularly for hybrid maize, through supportive agricultural policies. These dynamics indicate a promising growth trajectory for the seed market in Bangladesh over the forecast period.
Bangladesh Seed Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product
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2.1.1 Transgenic Hybrids
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2.1.2 Non-transgenic Hybrids
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2.1.3 Open-pollinated Varieties
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2.2 Crop Type
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2.2.1 Grains and Cereals
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2.2.1.1 Maize
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2.2.1.2 Rice
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2.2.1.3 Wheat
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2.2.1.4 Other Grains and Cereals
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2.2.2 Pulses and Oilseeds
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2.2.2.1 Soybean
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2.2.2.2 Sunflower
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2.2.2.3 Canola
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2.2.2.4 Pulses
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2.2.2.5 Other Oilseeds
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2.2.3 Cotton and Vegetables
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2.2.3.1 Solanaceae
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2.2.3.2 Cucurbit
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2.2.3.3 Roots and Bulbs
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2.2.3.4 Brassica
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2.2.3.5 Other Vegetables
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2.2.4 Other Crops
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Bangladesh Seed Market Size FAQs
How big is the Bangladesh Seed Market?
The Bangladesh Seed Market size is expected to reach USD 338.98 million in 2024 and grow at a CAGR of 5.06% to reach USD 433.88 million by 2029.
What is the current Bangladesh Seed Market size?
In 2024, the Bangladesh Seed Market size is expected to reach USD 338.98 million.
