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The global tomato seeds market has been estimated at around USD 829.8 million in 2016. The market is expected to register a CAGR of 7.7% during the forecast period, 2018 to 2023. United States emerges as the most mature market, in terms of adoption of fresh tomato seeds, where innovative strategies, including development of new varieties with better tastes, are required to sustain the growth.
Growth In Demand Of Tomatoes As A Result Of Increasing Derived Demand
With the increasing disposable income and living standards, processed foods are in great demand. There is a growing demand for processed tomato products in the form of frozen products and canned products, which include tomato sauces like pasta sauces, soups, curries, and juices. The US Economic Research Service USERS Data indicates that, 89% of tomatoes are grown for the purpose of canning.
USERS statistics, as per 2000, indicates a slow but substantial growth in demand for processed tomato products, which is expected to witness a share of +25% in recent times.
Rising Interest For New Varieties
Markets in US, Canada and EU are mature, in terms of adoption of hybrid and high yielding seeds. Major players in developed economies are investing in RD in order to bring tomato varieties with better tastes, exotic shapes, and colors. There are increasing trends towards the production of greenhouse tomatoes in countries such as the United States, Canada, and France. Moreover, in Mexico, 70% of the Protected Culture PC is claimed by the tomato cultivation, alone Guan, Zhengfei et al., 2016.
Asia Pacific Is The Fastest Growing Market
AsiaPacific is expected to grow faster, exhibiting a CAGR of 8.7%. Expanding cultivation in the region, especially in China and India, along with the adoption of hybrid varieties with better disease and drought resistance traits, emerges as a major growth driver. In 2016, China recorded a 2.7% increase from the previous year, and is expected to register a growth of 1.3% in 2017. Due to intensification of hybrids and HYVs, the yield is consistently increasing as well. In fact, the tomato yield per hectare in China was 54% larger than the global average in 2014.
Key Developments in the Market
March 2018: On March 6, 2018, a new seed breeding station of Hazera Seeds will open on the Machinestraat in Warmenhuizen.
September 2017: Vilmorin and Mikado Kyowa Seed have merged to become one business unit Vilmorin Mikado. This acquisition will further strengthen its position in the world market.
August 2017: De Ruiter has been getting new demos constructed for tomatoes in Bleiswijk, which has been a relatively new concept of growing vegetables in greenhouses, especially in the Netherlands.
Major Key Players GROUP LIMAGRAIN, MONSANTO, SYNGENTA, RIJK ZWAAN
Reasons to Purchase this Report
To understand the growth trends of the tomato seed market in key producing countries. Growth forecast is provided for 2018 2023. These information are crucial in identifying prospective markets with greater growth potential.
Analyzing various perspectives of the market with the help of Porter's five forces analysis.
To understand the regions that are expected to witness fastest growth during the forecast period.
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel. Customization of the Report
Countries of client's interest can be included in report based on feasibility of report.
Companies of client's interest can be included in report based on feasibility of report.NEXT ARTICLE
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