Global Tomato Seed Market Analysis & Outlook 2019-2024 - The Intensification of Hybrid Seed Usage across Emerging Economics is Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 3, 2019--The “Global Tomato Seed Market - Segmented by Geography - Growth, Trends and Forecasts (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
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.
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.
Major Key Players: Group Limagrain, Monsanto, Syngenta, Rijk Zwaan, Bayer CropScience, East-West Seeds.
Key Topics Covered
1.1 Market Definition
1.2 Key Findings of the Study
2. Research Scope & Methodology
2.1 Study Deliverables
2.2 Market Segmentation
2.3 Study Assumptions
2.4 Research Methodology
2.5 Research Phases
3. Market Overview
3.2 Global Hotspots
4. Market Dynamics
4.1.1 Intensification of Hybrid Seed Usage across Emerging Economics
4.1.2 Rising Interest for New Varieties, like Grape Tomatoes, in Matured/Developed
4.1.3 Growth in Demand of Tomatoes as a result Increasing Derived Demand
4.1.4 Expanding Cultivation
4.2.1 Perishable Nature of Seeds
4.2.2 High Cost of Seeds
4.2.3 Higher R&D Cost and Time Frame
4.2.4 Skeptism from Farmers towards New Varieties
5. Industry Analysis
5.1 Porter Five Forces analysis
5.2 Explanation of Porter Five Forces’s Analysis
6. Market Segmentation
6.1 By Geography
6.1.1 North America
6.1.4 South America
7. Competitive Landscape
7.1 Strategies Adopted by Leading Players
7.2 Most Active Companies in the Past Five Years
7.3 Market Share Analysis
8. Company Profiles
8.1.1 De Ruiter
8.2 Groupe Limagrain
8.2.1 HM Clause
8.2.4 Mikado Kyowa Seed
8.3 Rijk Zwaan
8.5 Bayer CropScience
8.8 East-West Seeds
9. Future Outlook of the Market
For more information about this report visit https://www.researchandmarkets.com/research/c8x9hh/global_tomato?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190403005336/en/
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PUB: 04/03/2019 04:52 AM/DISC: 04/03/2019 04:52 AM