The global tomato seed market has been estimated to be valued around USD 829.8 million in 2016

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Jan 22, 2020, 10:15 ET

NEW YORK, Jan. 22, 2020 /PRNewswire/ --

The global tomato seed market has been estimated to be valued around USD 829.8 million in 2016. The market is expected to register a CAGR of 7.7% during the forecast period (2018 - 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.

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Intensification of Hybrid Seed Usage Across Emerging Economics

Rising awareness, among farmers about the benefits associated with the adoption of hybrids, especially in emerging economics, through government supports, is accelerating the market. More than 40% of the area, cultivated with crops, such as tomatoes and cabbage, adopts high-tech seeds and the share is constantly increasing. Locally developed tomato hybrid like Arka Rakshak is resistant to ToLCV+BW+EB with the yield potential of 75-80 t/ha and has the scope for wider adoption in India. A large adoption rate for hybrid seed is being witnessed among smallholder farmers in the African region, due to government programs. For instance, in Zambia, 800,000 smallholders adopted hybrid vegetable seeds during 2016-17, while in 2015-16 it was 300,000.

Rising Interest for New Varieties, like Grape Tomatoes, in Matured / Developed Markets

Markets in US, Canada and EU are mature, in terms of adoption of hybrid and high yielding seeds. These markets experience a growing demand for new and improved varieties such as mini plum/snack tomatoes. The interest toward improved plum varieties of tomatoes with better flesh qualities is growing. These varieties are used in food processing industries for canning.

Asia Pacific is the Fastest Growing Market

Asia-Pacific 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 it 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, Bayer CropScience, East-West Seeds

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. This information is 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-month analyst support, along with the Market Estimate sheet in excel.

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