NEW YORK, April 24, 2024 /PRNewswire/ — The global tomato market size is estimated to grow by USD 45.33 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 4.98% during the forecast period.
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Technavio has announced its latest market research report titled Global Tomato Market 2023-2027
Key Trends Fueling Growth:
High demand for tomatoes from the food sector:
Industrial sectors, such as households and food processing, are driving the global tomato market. The fast food sector is rapidly expanding worldwide and playing an increasingly important role in the market.
The rise in organized retail also contributes to market expansion. Moreover, processed tomatoes are in demand due to their increased health benefits and longer shelf life.
It has since been used in many other products, such as tomato sauce, tomato paste, sun-dried tomato paste, pickles, pizza sauces, and edible curries. Foods rich in lycopene such as tomatoes can reduce the risk of lung, stomach, or prostate cancer.
Moreover, the increase in healthcare awareness has led to increased concern among people about good food that contains more fruits and vegetables. Thus, these factors will propel the demand for tomatoes, which will drive the growth of the global tomato market during the forecast period.
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Major Challenge
Adverse weather conditions:
Extreme weather conditions and climate change can seriously disrupt tomato production and income. Environmental changes negatively affect the sustainability of food systems by affecting farmer livelihoods, consumption choices, and food security through changes in the natural and human components of agroecosystems.
Annual rains and heavy downpours are becoming more frequent, especially in spring. Too much rain in spring slows crop growth, disrupts planting, increases the spread of some fungal and bacterial plant diseases, and can cause labor problems by delaying field operations.
Fluctuations in temperature and precipitation directly affect the quantity and quality of the tomato crop and indirectly affect the timing of important agricultural operations and the economic impact of pests and weeds.
Due to adverse quality effects, the global tomato market is under pressure and requires more capacity for fresh consumption and processing of low-quality tomatoes.
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Analyst Review
In the context of urbanization and water scarcity, the tomato market plays a significant role in addressing water efficiency and reducing water loss. Tomato producers employ modern irrigation techniques and optimize water usage in tomato production, resulting in valuable crops such as tomato paste, juice, sauce, and ketchup.
These food items are integral to Westernization and changing food consumption patterns, particularly in the fast food industry where burgers are a staple. Tomatoes are rich in essential vitamins and antioxidants, including Vitamin C, Vitamin K, Lycopene, Potassium, Folate, and other antioxidants. These health advantages contribute to cancer and heart disease prevention.
However, legacy water systems and wastewater runoff pose challenges to sustainable tomato production. Ensuring water quality and efficient distribution are crucial for maintaining a thriving tomato market while minimizing environmental impact.
Market Overview
In the vibrant Tomato Market, Urbanization and Demand intertwine, creating a bustling scene. Smarts and Traditions coexist, with Producers supplying various Tomato Types. Utilities and Producers collaborate, providing essential services. Various Tomato Qualties are showcased, from Heirloom to Modern varieties.
Fruit sizes and colors range, from small to large and red to pink. Consumers inspect and choose, ensuring their preferences are met. Can’t find what you’re looking for? Patience and Persistence reward. Tomato Market: Where Tradition Meets Technology, and Taste Meets Innovation.
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
Product Type
Fresh
Frozen
Dried
Type
Conventional
Organic
Geography
APAC
North America
Europe
South America
Middle East And Africa
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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SOURCE Technavio