Tomato is the most important vegetable crop, grown extensively in tropical and sub-tropical climates. It is the most widely grown and consumed vegetable in the world. The tomato seed market value, during 2015, was USD 774.46 million and is projected to reach USD 1243.93 million by 2022, at a CAGR of 7.1% during the forecast period. China is the largest tomato producer, followed by India, the United States, Turkey, Egypt, Iran, Italy, Spain, Brazil, Mexico and the Netherlands.
The tomato seeds markets of China and India are mostly export-dependent, and both countries produce most of the tomato seeds for domestic consumption and exports. Tomato seeds are the largest vegetable seeds segment that accounts for XX% of the global vegetable seeds market.
The desired traits of tomato are early maturity, fruit firmness, flavor and high-yield. Major companies like Advanta, Limagrain, Monsanto, Syngenta and Bayer have various tomato products showing resistance biotic and abiotic stress.
The high growth in this sector is credited to growth in the agricultural industry, increasing demand for vegetables all over the globe, increasing adaption-rate of hybrid seeds, and decrease in arable land, which is shifting the focus of the growers to extract top quality yield from limited area. The domain has certain constraints, such as high investments owing to high seed costs, perishable nature of the seed and high R&D costs. However, good return on investment in this segment is opening up opportunities and attracting growers, globally, to adopt to hybrid tomato seeds for production of tomatoes.
The market is segmented by region into North America, Europe, Asia-Pacific, South America and Rest of the World. These regions are further segmented by major countries in respective geographies. In 2015, North America dominated the tomato seeds market, with a share of about XX%, with the United States and Canada dominating the market in the region.
North America is one of the largest markets for tomato seed consumption. The North American vegetable seed market is highly concentrated; around 85% of the market share is occupied by top ten players in this region. The United States, the third largest global tomato producer, imports most of tomato seeds from China, Thailand, the Netherlands, Israel, France, India, Chile, Peru and Spain. The European Union is also an important tomato seed market. Tomato is a vegetable of the highest economic value in the region. Asia-Pacific has been identified as a region that is yet to reach its maximum potential in the tomato seed domain. This region is expected to be the fastest-growing market, with a CAGR of about XX%.
Major Companies in the Sector Include:
Recent Industry Insights
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