Ripe Opportunities: Tomatoes Market 2024 | Analysis, Trends, and Mergers and Acquisitions

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..

Market Overview -
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.

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Surge In Tomato Production Catalyzes Growth In The Global Tomatoes Market
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.

Competitive Landscape -
Major companies operating in the tomatoes market report are Houwelings International BV, Ontario Processing Vegetable Growers, Casalasco Società Agricola S.p.A., Tomato Growers Supply Company, Magic Sun Ltd., Sahyadri Farms Post Harvest Care Ltd., Pacific Rim Produce, Gebroeders Duijvestijn Tomaten, Mucci Int'l Mrktg Inc., R&L Holt Ltd., West Coast Tomato LLC, Royal Pride Holland BV, The Morning Star Company, COFCO Tunhe Tomato Co. Ltd., Xinjiang Chalkis Company Ltd., Ingomar Packing Co., Conagra Brands Inc., Los Gatos Tomatos, Haohan Group Ltd., Campbell Soup Company, Olam International Ltd., Neil Jones Food Company, Stanislaus Food Products Co. Inc., Consorzio Interregionale Ortofrutticoli S.c.a.r.l., Sugal & Damani group, Pacific Coast Producers, Kagome Co. Ltd., Conservas Vegetales de Extremadura, Tat Gida Sanayi A.S., Del Monte Foods Inc., Xinjiang Guannong Tomato Products Co. Ltd., Mutti S.p.A. .

Product Innovation In The Tomatoes Market
Product innovation is a key trend gaining popularity in the tomatoes market. Major companies operating in the tomatoes market are focused on developing innovative products to strengthen their market position. For instance, in October 2022, Hm.Clause, Inc., a US-based sustainable agriculture firm specializing in the breeding, production, and sales of vegetable seeds, launched Tomato Brown Rugose Fruit Virus (ToBRFV) resistant tomato variety. It is uniquely made with high agronomical values and an effective IR (intermediate resistance) resistance that delivers value to growers. It provides with enhanced prophylactic measures that prevents contamination and detect the virus and control further spread.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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