Tomato Market Size (2024 - 2029)

Tomato Market Analysis

The Tomato Market size is estimated at USD 207.17 billion in 2024, and is expected to reach USD 261.41 billion by 2029, growing at a CAGR of 4.76% during the forecast period (2024-2029).

• Tomatoes are juicy and sweet, full of antioxidants, and may help fight several diseases. They are especially high in lycopene, a plant compound linked to improved heart health, cancer prevention, and protection against sunburns.
• Major exporting countries for tomatoes are Mexico, the Netherlands, and Spain, followed by Morocco and Canada. The United States is the leading importer of tomatoes from Mexico. According to a United States Department of Agriculture report, tomato production in Mexico is highly concentrated, with six states producing 53% of the total production in 2020. Sinaloa is the largest tomato-producing state in Mexico.
• Tomatoes in industries, such as home, food processing, and snack foods, are driving the tomato market. They're also popular in the food service industry and used in hotels, restaurants, and fast-food outlets. The fast-food business is growing across the world, propelling the market forward. The expanding organized retail sector is also contributing to market expansion.
• Additionally, processed tomatoes are in high demand due to their enhanced health benefits and longer shelf life. Tomato puree is a particularly important processed product since it is used in so many other products, including tomato juice, ketchup, paste, strained tomato pulp, pickles, pasta, pizza sauces, salsa, gravies, ready-to-eat curries, and tomato-based powder goods.
• Further, government initiatives with extensive financial and political support for enhanced agricultural production in the countries through technological innovation are anticipated to raise the production level of tomatoes during the forecast period. In 2021, the government of Ghana commissioned the Weddi Africa Tomato Processing Factory in the town of Domfete under the 1-District-1-Factory initiative. The government facilitated a loan of USD 16 million to support the establishment and operations of the factory. As Domfete is a major center for the cultivation of fresh tomatoes, the factory is anticipated to process 40,000 metric tons of fresh tomatoes annually. Thereby, driving the market during the foreacast period.

Tomato Industry Segmentation

Tomato is a rounded, edible pulpy berry that belongs to the genus Solanum. Tomato is one of the most important vegetable crops grown extensively in tropical and subtropical climates. The Tomato Market is Segmented by Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The Report Includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The report offers market estimation and forecasts in value (USD) and volume(metric tons).