Hybrid Seed Market South Korea, Land Under Cultivation

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South Korea Seed Market by Technology type (Open
Pollinated and Hybrid Seeds) by Crop type (Rice,
Barley, Sorghum, Maize, Potato, Raddish, Cabbage,
Onion, Pepper, other Vegetables, Fruits Flower
Seeds) - Outlook to 2022 Ken Research
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South Korea Seed Market by Technology Type (Open
Pollinated and Hybrid Seeds) by Crop Type (Rice,
Barley, Sorghum, Maize, Potato, Raddish, Cabbage,
Onion, Pepper, Other Vegetables, Fruits Flower
Seeds) - Outlook to 2022 provides a
comprehensive analysis of seed market in South
Korea. The report covers South Korea Seed market
size, market segmentations by open pollinated and
hybrid seeds, by crop type (rice, barley,
sorghum, maize, potato, raddish, cabbage, onion,
pepper, other vegetables, fruits flower seeds),
by market source (domestic production and
imports) and by market structure (organized and
unorganized market). The report also covers
market in different aspects such as trends and
developments, issues and challenges, SWOT
analysis, trade scenario, regulatory scenario,
market share of major seed producers and company
profiles of major seed producers (Syngenta,
Monsanto, Rijk Zwaan, Sakata, Takii Seeds,
FarmHannong Seeds, FST Vegetable Seed Company and
Asia Seeds). The report provides detailed
overview on future outlook projections with
analyst recommendations for the industry.
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Industry Overview South Korea is predominantly an
importer of grain crops. This is mainly due to
shortage of cropland in the country. The
agriculture sector contributed around 2.2of the
GDP of the country. However, the seed industry in
the country is rising exponentially owing to the
government initiative Golden Seed Project
launched in 2012. The revenues of the seed market
in South Korea have reached USD million in 2017
from USD million in 2012. Under the Golden Seed
Project the government has decided to invest over
USD 722 million for the development of the
industry in the country. The focus of the project
is to make South Korea one of the leaders in
research and development of newer varieties of
seeds. Rice is one of the staple food crops of
South Koreans and most of it is domestically
produced and consumed, owing to this there is
high demand for rice seeds in the country. Apart
from rice, majority of the demand for seed comes
for vegetables. The most prominent are raddish,
cabbage and onion. The extensive efforts and
investment made by the government into the
industry is gradually liberalizing the South
Korean seed market.
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Market Segmentation of South Korea Seed
Market Type of Seed In terms of revenue, the
South Korea seed market is dominated by open
pollinated seeds which accounted for , while
the hybrid seeds accounted for of the total
revenue of the seeds market in South Korea in
2017. The use of genetically modified seeds is
banned in the country. Type of Crop On the
basis of crop the seed market in South Korea was
dominated by rice, barley, sorghum, maize,
potato, raddish, cabbage, onion, pepper, other
vegetables, fruits flower seeds. By Source
The seed market in South Korea is largely
dependent on imports. The imports accounted for
(USD million) of the total seed market in
South Korea during 2017 and the total domestic
production accounted for (USD million). By
Market Structure The seed market in South Korea
is dominated by organized players which accounted
for (USD million) share of the overall
revenue during 2017. A number of unorganized
players are also present in the market. The
unorganized market accounted for (USD
million) of the overall revenue during 2017.
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Competitive Scenario in South Korea Seed
Market The seed industry in the country has been
dominated by organized both domestic global
players in the market which have accounted for
major market share during 2017. There exists
health competition in the market due to a number
of local players in the market. The indigenous
players also focus heavily on research and
development of newer varieties of vegetable
seeds. The global players largely import seed
from countries in Europe. The market in South
Korea is dominated by players including Syngenta,
Monsanto, Rijk Zwaan, Sakata, Takii Seeds,
FarmHannong Seeds, FST Vegetable Seed Company and
Asia Seeds. Monsanto South Korea is a subsidiary
of a global seed company Monsanto based in St.
Louis, US. The company produces range of
vegetables seeds for the South Korean market. The
company has accounted for share of in the
overall market during 2017. Syngenta Seed South
Korea is a global company formed during 2000 by
the merger of Novartis Agribusiness and Zeneca
Agrochemicals.
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The company produces seeds for pepper, cabbage,
watermelon, onion, cucumber, tomato, pumpkin,
paprika and other vegetables. The company has
accounted for a share of in the overall market
during 2017. Rijk Zwaan is a Dutch company
established in Rotterdam. The company is amongst
the top 5 vegetable breeding companies in the
world. The company has accounted for a share of
in the overall market during 2017. FarmHannong
Seeds is one of the market leaders in plant
breeding, production, processing, marketing and
the sales of hybrid vegetable in the country. The
company deals in almost 550 varieties of 23
different crops with diverse brand strategies.
The company has accounted a share of of the
total revenue during 2017. Other major players in
the South Korea seed market are Sakata, Takii
Seeds, FST Vegetable Seed Company and Asia Seeds.
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Future Potential of South Korea Seed Market The
revenue from the South Korea seed industry is
projected to register a steady and modest growth
over the period 2017-2022. It is projected to
grow by CAGR of over the period 2017-2022 and
is expected to reach USD million in 2022 as
compared to USD million in 2017. The overall
growth in the market will be supported by the
demand for rice and vegetable seeds. The Golden
Seed Project initiated by the government will
bring South Korea amongst the leaders of global
seed industry. The government is focusing on
developing an infrastructure that extensively
focuses on research and development of newer seed
varieties and also leads to the development of
the local industry. The country wishes to
liberalize its seed industry. Owing to these
initiatives the indigenous companies are likely
to grow substantially in the future and expand
their business to other countries.
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