Canned Tomato Market to Reach US$11.7 Billion by 2022, Driven by Growing Consumer Demand
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| Canned Tomato Market |
Market Overview:
The global Canned Tomato Market is estimated to be valued at US$11.7 Billion In 2022 and is expected
to exhibit a CAGR of 5.3% over the
forecast period from 2021 to 2030, according to a new report by Coherent Market
Insights. Canned tomatoes offer various advantages such as convenience, longer
shelf life, and availability of seasonal produce throughout the year. The
demand for canned tomatoes is driven by the increasing consumer preference for
ready-to-use ingredients in food preparation and the rising demand for
processed foods globally. Canned tomatoes are extensively used in the
preparation of various dishes, including sauces, soups, stews, curries, and
pizzas. Furthermore, the growing popularity of Italian cuisine and the
increasing consumer awareness about the health benefits associated with
tomatoes are expected to drive market growth during the forecast period.
Market Key Trends:
One key trend in the canned tomato market is the emergence of organic and
natural canned tomato products. Consumers are becoming more conscious about
their health and are opting for organic and natural food products. As a result,
manufacturers are focusing on producing canned tomatoes that are free from
harmful preservatives and pesticides. Organic and natural canned tomato
products are made from tomatoes that are grown without the use of synthetic
fertilizers and pesticides, maintaining the nutritional value and taste. This
trend is driven by the increasing demand for clean label products and the
growing preference for minimally processed food. Manufacturers are also
introducing innovative packaging solutions, such as BPA-free cans, to cater to
the rising demand for healthy and sustainable canned tomato products.
Segment
Analysis
The segment analysis of the canned tomato market reveals the dominance of the
cooking segment, which is expected to have the highest market share in the
forecast period. This segment includes canned tomatoes that are primarily used
for cooking purposes in various cuisines worldwide. The cooking segment is
dominating due to the increasing consumption of processed tomato products in
households, restaurants, and hotels. Canned tomatoes provide convenience and
easily accessible cooking ingredients, which have contributed to their
popularity in the cooking segment.
Key Takeaways
The global Canned
Tomato Market is expected to witness significant growth, exhibiting a CAGR of 5.3% over the forecast period.
This growth can be attributed to several factors, such as the rising demand for
processed food products, changing consumer lifestyle, and increasing
inclination towards convenience foods. Canned tomatoes offer various
advantages, including easy availability, longer shelf life, and year-round
availability, which further drive their market growth.
In terms of regional analysis, North America is the fastest-growing and
dominating region in the canned tomato market. The region's dominance is
primarily attributed to the high consumption of processed food and ready-to-eat
meals. The United States, in particular, has a substantial market for canned
tomatoes, driven by the increasing demand for pizza, pasta sauces, and other
culinary applications. Additionally, the region's well-established food
processing industry and growing preference for convenience foods contribute to
its dominance in the market.
Key players operating in the canned tomato market include Kronos Incorporated,
Campbell, Libby's Brand Holding, Del Monte, B&G FOODS NORTH AMERICA, INC.,
Conagra Brands, KYKNOS, and Kraft Heinz Co. These key players have a strong
market presence and offer a wide range of canned tomato products. They focus on
product innovation, strategic partnerships, and mergers and acquisitions to
expand their market share and gain a competitive edge. With increasing demand
for canned tomatoes across the globe, these key players are expected to play a
significant role in driving the market growth in the forecast period.
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