Tomato Market Size to grow by USD 57.9 billion between 2024-2028
According to a research report “ Tomato Market” by Product Type (Fresh, Frozen, Dried) Type (Conventional, Organic) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 57.9 billion, at a CAGR of 5.96% during the forecast period. The global tomato market experiences significant growth, primarily driven by the household and food processing industries. Tomatoes are also extensively utilized in the catering, restaurant, and fast-food sectors, with the latter's expanding global presence propelling market expansion. Processed tomatoes, recognized for their extended shelf life and enhanced health benefits due to the presence of lycopene, an antioxidant, are in high demand. This nutrient-rich ingredient is used in various processed tomato products, including tomato sauce, paste, sun-dried tomato paste, pickles, pizza sauces, and edible curries. The rising trend of organized retail further supports market growth.
Browse market data tables, figures, and in-depth TOC on “Tomato Market” by Product Type (Fresh, Frozen, Dried) Type (Conventional, Organic) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Product Type, the Fresh segment is projected to dominate the market size in 2024
In the global tomato market, the conventional farming segment held the largest market share in 2022. This segment is characterized by the use of chemical interventions for pest and weed control, as well as plant growth promotion. The affordability of conventional tomatoes, compared to their organic counterparts, has fueled increasing demand. Moreover, the widespread use of tomatoes in various cuisines, particularly in the food service and retail industries, is driving market growth. Notably, the expanding fast-food industry is a significant contributor to the demand for conventional tomatoes, as these products are commonly used in fast-food preparations.
By Type, Conventional segment is expected to hold the largest market size for the year 2024
In the agricultural business sector, tomatoes are classified as edible fruits, although they are often referred to as vegetables from a nutritional standpoint. Botanically, tomatoes are the ovary of a mature flower and contain seeds, making them fruits. Other fruits such as plums, pumpkins, and melons share this same classification. In the fresh produce market, tomatoes are primarily hand-picked and sold unripe to allow for optimal maturation during transportation. This meticulous process ensures the preservation of the fruit's nutritional profile, thereby fueling the expansion of the global tomato market.
APAC is forecasted to hold the largest market size by region in 2024
In the tomato market, supply and demand dynamics significantly influence pricing and sales volume. Farmers face challenges in meeting consumer demand due to unpredictable weather conditions, leading to potential shortages and price fluctuations. Retailers and processors must adapt to these market fluctuations by implementing effective inventory management strategies and securing reliable supply chains. Collaborative efforts between all stakeholders are crucial to ensuring a stable and profitable tomato market.
The Tomato Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The tomato market plays a significant role in the fast food industry, with tomatoes being a staple ingredient in burgers and other fast food items. The popularity of tomato ketchup and sauce has led to an increase in tomato production, making it the world's largest vegetable crop. However, the Westernization of food consumption patterns has raised concerns about the health implications of relying heavily on processed tomato products. Tomatoes are rich in antioxidants, including lycopene, folate, potassium, vitamin K, and vitamin C. These nutrients offer numerous health advantages, including heart health benefits and cancer prevention. However, the production of tomatoes can have negative environmental impacts, particularly in terms of water usage. Tomato production requires significant water resources, with legacy water systems and wastewater runoff posing challenges to water quality and distribution. Water loss and inefficiency are also concerns, especially in urban areas experiencing water scarcity. As such, sustainable water management practices are essential to ensure the long-term viability of the tomato industry while minimizing its environmental footprint.
Market Research Overview
Title: Tomato Market: Business Strategists, Consultants, and Investors Eye Opportunities Amidst Changing Food Habits and Industry Performance The tomato market is a significant player in the global food industry, with sub-segments including tomato ketchup, sauce, juice, paste, and even tomato fries, pizza, sandwiches, burgers, and fast food. Business strategists, consultants, and investors are closely watching this market's performance as it intertwines with the fast food industry, dining, hospitality, snack foods, and food processing sectors. The tomato industry's growth is influenced by various factors, including changing food consumption patterns, Westernization, and health advantages. Tomatoes are rich in antioxidants like lycopene, folate, potassium, vitamin K, vitamin C, and more, making them a popular choice for health-conscious consumers. Tomato production is a significant business, with major producers like Ontario in Canada and Xinjiang Uygur in China. Climatic conditions play a crucial role in tomato production, with capital costs, workforce spending, water utilities, and cost management being essential considerations for tomato producers. As the world grapples with issues like blood glucose levels, blood pressure, heart disease, and cancer, the health advantages of tomatoes have gained renewed attention. However, the tomato market faces challenges, such as high initial investments, water scarcity, and urbanization. Modern smart solutions, including water loss prevention, smart water meters, and data exchange, are essential for managing water resources efficiently and reducing water theft and non-revenue water. The smart city revolution, with its focus on data standards, integration, and communication protocols, offers opportunities for growth in the tomato market. In conclusion, the tomato market presents a complex business landscape with numerous opportunities and challenges for business strategists, consultants, and investors. By understanding the micro details of this industry, including its sub-segments, production, and consumption patterns, one can make informed decisions and capitalize on emerging trends.
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