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Global Tomato Seed Market to Surpass $1.7 Billion by 2027
New York Ag Connection - 11/07/2019

The global tomato seeds market was valued at $1,022.6 billion in 2018, and is projected to exhibit a CAGR of 6.5 % over the forecast period (2019--2027).

Increasing investments for the development of greenhouses is driving growth of the global tomato seeds market. Greenhouse production allows for creating most suitable conditions for production of variety of crops. Therefore, major companies are investing in the development of greenhouses for the purpose of growing tomatoes and other vegetables. For instance, in 2016, Abu Dhabi-based Shorooq Investments announced to invest $1.1 million in tomato seeds funding to Pure Harvest Smart Farms, which is an agricultural technology company. In the same year Shorooq Investments also acquired 3.3 hectares of land in Nahel, UAE for the launch of commercial scale greenhouse operations for producing tomatoes.

Furthermore, increasing consumer awareness regarding health benefits of tomato seeds and focus of key players in the market to offer different varieties of tomato seeds are some of the other factors driving growth of the tomato seeds market. For instance, Cronus Seeds company, which has presence in Europe, Middle East, and North Africa, offers different varieties of tomato seeds such as Ruba F1, Razan F1, Amal F1, Mandy F1, Carmel F1, Dina F1, Maya F1, and Julie F1 in the market.

Key players in the market are focused on adopting strategies such as product launches to expand their product portfolio and consumer base. For instance, in February 2019, Seminis Vegetable Seeds, Inc. launched its first purple hybrid tomato seed 'Purple Boy' for home gardeners. The new product is a high producing semi-indeterminate variety and offers a sweet taste and appealing color.

Key market takeaways:

- North America accounted for a significant market share in the global tomato seeds market in 2018, owing to increasing processing tomatoes production. For instance, according to the U.S. Department of Agriculture's National Agricultural Statistics Service, processing tomatoes production in California was pegged at 10.4 million tons in 2017, which increased by 13.4% to reach 11.8 million tons by 2018.

- Major companies are focused on adopting merger and acquisition strategies in order to enhance their share in the tomato seeds market. For instance, in August 2018, BASF SE acquired Bayer's vegetable seeds business, operating under the brand name Nunhems. The acquired vegetable seeds business consists of 24 crops and around 2600 varieties. This acquisition is expected to help BASF to expand its product portfolio and increase its market share.

- Some of the 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.

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