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Tomato seeds market industry Highlights
Tomatoes are included in diet or dishes to enhance the flavor and taste of the food. Tomatoes are also processed to store for future use. Demand for tomato-based processed food products is increasing among consumers globally. Tomato-based processed food includes soups, sauces, curries, juices, powder, and many more. The processed tomato products are available in the form of frozen and canned products. The factors above are influencing the farming of tomatoes and are likely to drive the market growth of tomato seeds. However, the major challenges being faced by the tomato growers are climatic change, resistance developed by pests, poor infrastructure, and post-harvest loss, which are hindering the growth of the global tomato seeds market industry. The global tomato seeds market industry is projected to grow at a significant rate of 6.5% from 2019 to 2024 to reach a market value of USD 12.20 Billion by the end of 2024.
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Based on category, the global tomato seeds market industry has been segmented into organic, and conventional. The conventional segment is expected to dominate the global tomato seeds market industry owing to the availability of several varieties of tomatoes grown by the conventional method of farming, and the high consumption rate of those tomatoes across the globe. The conventional farming of tomatoes is cost-effective and provides a higher yield. However, the organic segment is expected to grow with the higher CAGR during the forecast period owing to the surging demand for organic tomatoes among health-conscious consumers and the increasing application of those tomatoes in the food processing industries.
The global tomato seeds market industry has been segregated by variety, into heirloom, and hybrid. The heirloom segment is anticipated to gain a larger revenue share in the global tomato seeds market industry since heirloom tomatoes are likely to be more nutritious than newer varieties, it is less expensive and open-pollinated. Open-pollinated refers to the variety which is self-pollinated or is pollinated by another representative of the same variety, and the resulting seeds will produce plants roughly identical to their parent plant. However, the hybrid segment is projected to grow with a higher growth rate due to the high yield of tomatoes with enhanced color and significant uniformity, and disease resistance quality in tomato plants. Rising awareness among farmers about the benefits associated with the adoption of hybrid seeds, through government schemes & support is accelerating the market growth.
Based on plant type, the global tomato seeds market industry has been segmented into determinate, and indeterminate. The determinate segment is expected to dominate the global tomato seeds market industry. The drivers responsible for the segment’s growth are determinate tomatoes are ripened in a short period, these tomatoes grow to a fixed mature size and, provide good yield even tomato plants grow in the smaller surface. However, the indeterminate segment is expected to grow with a higher growth rate since the indeterminate tomato varieties have a longer growth period and produce fruits until weather conditions are no longer favorable.
Key Players
Some of the key players in the global tomato seeds market industry are
Asia Seed Co., Ltd. (South Korea), Vilmorin & Cie SA (France), Syngenta Crop Protection AG (Switzerland), Rijk Zwaan Zaadteelt en Zaadhandel B.V. (Netherlands), Advanta Seeds Pty Ltd (Australia), Bejo Zaden BV (Netherlands), VoloAgri Group, Inc. (US), Takii & Company, Limited. (Japan), Liaoning Dongya Agricultural Development Co., Ltd., (China), Mahindra Agri Solutions Ltd. (India), Gansu Dunhuang Seed Co., Ltd. (China), BASF SE (Germany), Namdhari Seeds Pvt. Ltd (India), Sakata Seed Corporation (Japan), East-West Seeds (Thailand).
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Regional Analysis
The global tomato seeds market industry has been segmented since region, into Asia-Pacific, North America, Europe, and the Rest of the World.
North America is projected to dominate the global tomato seeds market industry due to the increasing awareness regarding the high nutritional value of tomatoes, which has increased the consumption rate of tomatoes in the region. In addition, the presence of prominent vendors in the region is also driving the regional market growth. The analysis shows that the US has the highest market share in the North American tomato seeds market industry as compared to other countries.
Asia-Pacific tomato seeds market industry is expected to grow with the highest CAGR due to rising demand for food, a favorable climate for tomato farming and, increasing population in this region.
Segmentation
The global tomato seeds market industry has been segmented since category, variety, plant type, and region.
By category, the global tomato seeds market industry has been classified as organic and conventional.
By variety, the global tomato seeds market industry has been classified as heirloom and hybrid.
The global tomato seeds market industry has also been segregated, based on plant type, into determinate, and indeterminate.
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