Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Tomato Seeds Market – Insights
Tomatoes can be effective for lowering blood pressure, strengthening immune system, and improving skin health. Tomatoes contain potassium, which helps to maintain blood pressure by relaxing the walls of blood vessels. Tomato seeds are a source of Vitamin C, which helps to improve immune health and helps to maintain a healthy skin. Dietary fibers present in tomato seeds help in normalizing bad cholesterol levels. Furthermore, tomato seeds contain digestive amino acids, which can improve the digestion process.
The global tomato seeds market is projected to reach US$ 1,798.6 million by 2027, at a CAGR of 6.5% over the forecast period, owing to increasing consumer awareness regarding health benefits of tomato seeds. Major companies around the world are focused on investing in research and development of new varieties of tomato seeds and on conducting different breeding programs for the new varieties of tomato seeds. This in turn is expected to boost the market growth over the forecast period.
Among plant growth habits, the determinate & semi-determinate segment accounted for the largest market share in the tomato seeds market in 2018. Determinate & semi-determinate tomato plants are shorter in height with strong stems. These tomato types are also called self-topping or self-pruning types. The popular varieties of these tomato seeds include Lizzano F1, Crimson Cherry F1, Crimson Crush, and Crimson Beefsteak. Determinate tomato plants require less maintenance but can only produce a limited amount of fruits. Determinate varieties are optimal for production in the fall season, although their application during spring can ensure a heavy and early harvest. Determinates have flower clusters that occur at every alternate node or at every node. These plants can bear flowers and fruits within a short period of time.
The price of seeds used for greenhouse-produced tomatoes is comparatively higher than the cost of seeds used in natural environment. Therefore, tomato seed producers have to bear high costs for purchasing tomato seeds suitable for production in greenhouses, which is expected to hamper the market growth.
The global tomato seeds market was valued at US$ 1,022.6 million in 2018, and is expected to register a CAGR of 6.5 % in terms of revenue over the forecast period (2019– 2027).
North America accounted for the largest market share in 2018, owing to increasing consumption of fresh and processed tomatoes. According to Agricultural Marketing Resource Center, in 2017, the consumption of fresh tomatoes and processed tomatoes in the U.S. was recorded at 20.3 pounds and 73.3 pounds per capita, respectively.
Furthermore, major companies are focused on adopting various strategies such as product launch to enhance their market share. For instance, in January 2018, Hazera Seeds Ltd. launched its hybrid tomato seed “Shanty” in Ethiopia. Through the launch, the company focuses on expanding its presence in Africa.
Figure 1. Global Tomato Seeds Market Share (%), By Product Type, 2018
Source: Coherent Market Insights, 2018
Among product type, the open pollinated/heirloom tomato seeds segment accounted for significant market share in the global tomato seeds market in 2018. Open-pollinated tomato seeds can be easily produced. Moreover, a single plant can produce thousands of seeds. High economic yields can be achieved using open pollinated seeds under less favorable growing conditions & lower crop inputs.
Players operating in the global tomato seeds market are focused on adopting various growth strategies such as mergers & acquisitions to enhance their market share. For instance, in 2018, Bayer AG completed the acquisition of Monsanto Company, an agrochemical & agricultural company based in the U.S. This acquisition is expected to help Bayer AG to enhance its presence in the tomato seeds market.
Major players operating in the global tomato seeds market include, BASF SE, Groupe Limagrain, Syngenta AG, Abundant Seeds Pty Ltd., Sakata Seed Corporation, Bayer AG, Advanta Seeds, Bejo Zaden BV, Enza Zaden, and Takii & Co., Ltd.