The global tomato seed market was valued at USD 820.1 million in 2017. The market is projected to register a CAGR of 7.7% during the forecast period of 2018-2023, and is estimated to reach a value of USD 1306.3 million by 2023. The report Global Tomato Seed Market provides key information on growth, segmentation, and trends of the tomato seed market, globally.
The report delivers a detailed analysis on various aspects of the tomato seed market. The geographic segmentation is done by region which includes, North America, Europe, Asia-Pacific, South America, and Africa and further country-wise analysis is also carried out. To analyze the level of competition, threats, substitutes and bargaining powers of buyers and suppliers in the industry, Porter’s five forces analysis is also conducted.
To know more about the coverage of the Tomato Seed Market Report, click the below link:
Tomato is one of the most important vegetable crops, grown extensively in tropical and sub-tropical climates. Asia-Pacific is expected to grow at a fast rate. Expanding cultivation in the region, especially in China and India, along with the adoption of hybrid varieties with better disease and drought resistance traits is driving the demand for tomato seeds in the region. In terms of adoption of hybrid seeds, the most matured tomato seed markets include the US, Canada, along with other major countries such as the Netherlands, France, Italy, and Spain.
Tomato Seed Market Dynamics
Intensification of hybrid seed usage across emerging economics, rising interest for new varieties like grape tomatoes in matured/developed, growth in demand of tomatoes as a result increasing derived demand in food processing industries, and expanding cultivation are some of the factors driving the market. However, perishable nature of seeds, their high R&D cost, skepticism from farmers toward new varieties are the factors constraining the market. Development of new varieties with better tastes and quality would be a challenge toward achieving further intensification and larger growth and in the US tomato seeds market.
The global tomato seed market is highly fragmented, consisting of various small, medium-sized companies and few big players, who face stiff competition in the market, due to the development of regional markets and local players in different parts of the world. Globally, over 72% of the tomato seed market is attributed to five major players who are headquartered in the United States and Europe. The report profiles the major players with highest market share are Monsanto, Groupe Limagrain, Syngenta, Bayer crop Science, and Rijk Zwaan. In past few years, Syngenta International AG and Rijk Zwaan have been the most active players, in terms of strategic development, in the global tomato seed market.