COVID-19 Impact on Okra Seeds Market Size, Share and In-depth Analysis Research Report Foresight to 2023
COVID-19 Impact on Okra Seeds Market Global Information by Category (Conventional and Organic) and Region (Asia-Pacific, North America, Europe, and the Rest of the World)
pune, India – June 4, 2020 /MarketersMedia/ —
Market Analysis
Global COVID-19 Impact on Okra Seeds Market is likely to touch USD 352.7 million at a 9.8% CAGR between 2020 – 2023, according to the recent report by Market Research Future (MRFR). Okra is a flowering plant that belongs to the same plant family as that of hibiscus and cotton. It is generally grown in sub-tropical and tropical regions. Okra seeds are available in two types- organic & conventional.
Various factors are adding to the global okra seeds market growth. Such factors, according to the new MRFR report, include the growing demand for okra of the high-yielding variety, surging need for organic products, increasing awareness about the health benefits of consuming okra, and demand for hybrid and commercial seeds for the rising requirement for food safety for the increasing global population. Additional factors adding market growth include burgeoning demand for vegetables, rising population, rising cases of crop losses, and shortage in the accessibility of total arable land.
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Key Players
Eminent players profiled in the Global COVID-19 Impact on Okra Seeds Market Report include Sakata Seed Corporation (Japan), Western Bio Vegetable Seeds Ltd (India), Syngenta AG (Switzerland), Mahindra Agri Solutions Pvt. Ltd (India), Kitazawa Seed Company (US), W. Atlee Burpee & Co (US), Terra Agro Biotech Pvt. Ltd (India), Maharashtra Hybrid Seeds Company Private Limited (India), Alabama Farmers’ Cooperative, Inc (US), and UPL Limited (India).
Covid-19 Analysis on Okra Seeds Market/Covid-19 ABC Market Analysis
The advent of the COVID-19 pandemic has led to a global crisis. It has largely affected the agricultural supply chain following the lockdown in many countries and sealing of borders for curbing the virus spread. The production, as well as consumption of crops such as okra, has been affected by the pandemic. With all shops in villages except local provision stores being closed, farmers are facing challenges to buy seeds to sow okra. Also, the stringent containment measures undertaken by the government of different states and preventive measures for controlling the outbreak’s impact have resulted in restriction in transportation, affecting the inter-state movement of the okra seeds in India. Trade restrictions and nationwide lockdowns are likely to impact the US and European countries that are widely reliant on the import of okra from India for catering to the domestic need.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the Global COVID-19 Impact on Okra Seeds Market Report based on category.
By category, the global okra seeds market is segmented into organic & conventional. Of these, the conventional segment will lead the market over the forecast period. They are produced in regular conditions sans any extra support. Meanwhile, the organic seeds segment is predicted to grow at a 10.7% CAGR over the forecast period.
Regional Analysis
Based on the region, the COVID-19 Impact on Okra Seeds Market Report covers the growth opportunities and recent trends across North America, the Asia Pacific (APAC), Europe, and the Rest of the World (RoW). Of these, the APAC region will have the lions share in the market over the forecast period for the presence of multiple small-scale seed manufacturers. Philippines, Malaysia, Pakistan, and India are the top okra seed producing countries with surplus production exported the world over. It is likely to grow at a 9.6% CAGR by 2023.
The APAC region is followed by the RoW, which is predicted to hold the second-largest share over the forecast period for the increase in production as well as demand for GM seeds coupled with the rising adoption of disease-resistant and hybrid seeds. Africa has a major market share for the availability of huge areas of cropland.
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Europe and North America will have small shares in the market over the forecast period. In North America, Mexico is the biggest country-level market, which is likely to remain dominant for its increasing cultivation of okra.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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