Global tomato seeds market is estimated at USD 829.8 mn in 2018 and expected to sustain its growth trend during the forecast period, depicting a CAGR of 7.71%.

SEATTLE, WASHINGTON, UNITED STATES, October 11, 2020 /EINPresswire.com/ -- Market Overview

Rising awareness among farmers about benefits of adoption of hybrids, especially in emerging economics often through government supports, intensification of hybrid seed usage across emerging economics, rising interest for new varieties, like grape tomatoes, in matured / developed markets, growth in demand for tomatoes as a result of increasing derived demand, and expanding tomato cultivation are the major factors driving the growth of the tomato seeds market

Perishable nature of seeds, high seed costs, higher R&D cost and time frame for seed development, and skepticism from farmers towards newer varieties are the key factors restraining the growth of the market.

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Segmentation by Product

The tomato market is segmented by product into hybrid and non pollinated seeds. The hybrid seeds market has the dominant market share in 2020 and is estimated to continue its dominance till the end of 2026

Segmentation by Geography

Among the geographical regions, North America and Europe are highly matured in terms of adoption of hybrids. The adoption of HYVs and hybrids are prominent in countries such as South Africa, China, India, and Brazil as well. Asia-Pacific is expected to grow faster exhibiting a CAGR of 8.73%. 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 major growth drivers.

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United States account for a 8.5% share of the global tomato production in 2019. In terms of area harvested of tomatoes, US accounts to 3.3% of global scenario in 2019. Production is recorded across 20 states in US, however California and Florida accounts for more 65% of the US tomato production. There is more than 95% intensification of the tomato hybrids in cultivation across US, thus making the nation one of the most matured make for tomato seeds.

Chinese annual production of tomatoes claims a 30% share of the global tomato production. In terms of area harvested, the China claims 19.9% of the global segment. Higher economic returns amidst fluctuating markets in the recent times as well as the prevailing subsidy policies for greenhouses in China act as drivers for the tomato segment in China

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Competitive Landscape

The global tomato seed market is fragmented with a large number of regional players especially in the developing countries of Asia-Pacific and Africa. The markets in the North America as well as in Europe are more or less consolidated with few major players amidst high level of competition between them. Globally, over 72% of the tomato seed market is attributed to five major players which are headquartered in US or Europe. These recognized players include Monsanto, Groupe Limagrain, Syngenta, Bayer Crop Science and Rijk Zwaan. For some of these major players, the seed business is taken care off by specialized subsidiaries. For instance, Monsanto’s tomato seed business is carried out through Seminis, USA and De Ruiter, the Netherlands.

Bhanu Reddy
Global Monitor
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