Tomato is an extensively grown in tropical and sub-tropical climates and the most widely grown and consumed vegetable in the world. In 2015, the tomato seed market valued USD XX million and is projected to reach USD 1290.6 million by 2022, registering a CAGR of XX% during 2017-2022 (the forecast period). China is the largest producer of tomato, followed by India, the United States, Turkey, Egypt, Iran, Italy, and Spain.
China and India produce tomato seeds for domestic consumption and exports. India emerges as the second-largest producer of hybrid tomatoes, globally, after the United States. There is a presence of GM tomatoes in the North America with 8 approved traits events in the United States, XX traits in Canada and YY traits in Mexico.
Tomato seeds form one of the largest vegetable seeds segment, which accounts for XX% of the global vegetable seeds market. Most desired traits of tomato include early maturity, fruit firmness, flavor, and high-yield. Major companies like Advanta, Limagrain, Monsanto, Syngenta, and Bayer have various tomato products that show resistance to biotic and abiotic stress.
The high growth in this sector is credited to the intensification of hybrid seed usage across emerging economics, rising interest for new varieties such as grape tomatoes in matured/developed markets, growth in demand for tomatoes due to the rising demand and expanding cultivation. The domain has certain constraints such as high investments, owing to the rising costs, perishable nature of the seed, high R&D costs and associated time frame, along with skepticism from farmers towards newer varieties. However, good return on investment in this segment is opening up opportunities and attracting growers, globally, to adopt hybrid tomato seeds for production of tomatoes.
The market is segmented, based on region, into North America, Europe, Asia-Pacific, South America, and Africa. These regions are further segmented by major countries in respective geographies. In 2015, Asia Pacific dominated the tomato seeds market, with a share of about XX%, with India and China emerges as leading markets in the region.
North America is one of the largest markets for tomato seed consumption and is highly concentrated; around 85% of the market share is occupied by top few players. The United States, the third-largest global tomato producer, imports most of the tomato seeds from China, Thailand, the Netherlands, Israel, France, India, Chile, Peru, and Spain. The European Union is also an important tomato seed market, where tomato accounts for the highest economic value. Asia-Pacific is yet to reach its maximum potential in the tomato seed domain and expected to be the fastest-growing market, registering a CAGR of about XX%.
Major Companies in the Sector Include:
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