Overview and Scope
Tomatoes refer to a large, round, edible, pulpy vegetable that is either eaten raw and uncooked or cooked as a vegetable and has a red or yellowish skin with a juicy pulp. They are used to provide antioxidant protection against cancer.
Sizing and Forecast
The tomatoes market size has grown strongly in recent years. It will grow from $174.7 billion in 2023 to $186.46 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to consumer demand and dietary trends, supply chain dynamics, government policies and regulations, climate and environmental factors, research and development.
The tomatoes market size is expected to see strong growth in the next few years. It will grow to $233.13 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to growing health and wellness trends, sustainable agriculture practices, trade and globalization, climate change adaptation, changing consumer preferences. Major trends in the forecast period include globalization of tomato supply chains, technological integration in supply chain management, growing importance of food safety standards, expansion of tomato-based product offerings, climate change resilience.
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Segmentation & Regional Insights
The tomatoes market covered in this report is segmented –
1) By Type: Cherry Tomatoes, Grape Tomatoes, Roma Tomatoes, Beefsteak Tomatoes, Heirloom Tomatoes, Tomatoes On The Vine, Green Tomatoes, Other Types
2) By Category: Conventional, Organic
3) By Distribution Channel: Direct, Indirect
4) By End User: Food Service Industry, Household Or Retail Industry
Asia-Pacific was the largest region in the tomatoes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the tomatoes market report during the forecast period. The regions covered in the tomatoes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Growing tomato production is expected to propel the growth of the tomatoes market going forward. Tomatoes refer to a large, round, edible, pulpy vegetable that is either eaten raw and uncooked or cooked as a vegetable and has a red or yellowish skin with a juicy pulp. They are used to provide antioxidant protection against cancer. The increasing production of tomatoes increases the demand for tomatoes in various foods, so increasing tomato production will propel the market growth. For instance, in January 2022, according to the Food and Agriculture Organization, a Canada-based international organization, the global production of tomatoes increased by 1.08% from 184.786 million metric tons in 2020 to 186.821 million metric tons in 5,051,983 hectares in 2021. Therefore, the growing tomato production is driving the growth of the tomatoes market.
Key Industry Players
Major companies operating in the tomatoes market are focusing on strategic investments to expand its operations. A strategic investment refers to an investment made by a company with the intention of enhancing its long-term success. For example, in March 2023, Delifood Agroindustries Sarl, an Africa-based food company, announced that it will invest CFA4 billion (Euro 61,000, $ 62,000) to build a tomato processing plant in Douala, Africa. The company will release 4 billion FCFA ($0.006) for the development of its industrial complex for the production, processing and marketing of canned tomatoes. In its first phase, the start of which is imminent, the project aims to produce 5,400 tons of canned tomatoes with the key to creating 150 jobs.
The tomatoes market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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