Tomato Processing Market To Grow At A CAGR Of 3.8% Between 2020-2025
According to a new report by EMR titled, ‘Global Tomato Processing Market Report and Forecast 2020-2025’, the global consumption of processed tomatoes stood at 41.52 million tons in 2019. The consumption of processed tomatoes is expected to grow at a CAGR of 3.8% in the period 2020-2025, to reach 51.93 million tons in 2025.
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Competitive Landscape & Supplier Analysis:
Morningstar, Inc. (NASDAQ: MORN)
Ingomar Packing Company
J.G. Bosewell Tomato Co.ltd
Conagra Brands Inc (NYSE: CAG)
Conserve Italia Soc. Coop. Agricola
Olam International Limited
Los Gatos Tomato, Inc.
China Haohan Group Limited
The Campbell Soup Company
The global tomato processing market is being driven by the increasing per-capita consumption of processed tomatoes globally. The market is being aided by the overall growth in the consumption of processed foods and beverages many of which contain processed tomatoes as an ingredient. Ketchup, especially, is a growing condiment sector which is witnessing a rising demand. Sauces are the largest application sector for processed tomatoes, accounting for 30% of their overall applications. The global consumption of tomato-based sauces was close to 41.52million tons in 2019.
Read full report summary with Table of Content – https://www.expertmarketresearch.com/reports/tomato-processing-market
The growth in tomato production and improving varieties of tomatoes is also driving the market growth. The global production of tomatoes reached 41.52 million tons in 2019. Their production is projected to grow further in the forecast period of 2020-2025 at a CAGR of 3.8% to attain 51.93 million tons in 2025. The world trade of tomatoes mostly involves the trade of processed products like purees, sauces, tinned tomatoes, and pastes, among others. Thus, the increase in the production of processed goods is also aiding the growth of the tomato trade.
The Asia Pacific is the largest producer of tomatoes, globally, accounting for nearly half the global tomato output. China and India are their leading producers, not just in the region, but also the world. The increase in the tomato processing capacity of China is a major driving factor for the tomato processing market. The adoption of good cultural practices along with the high demand for tomatoes in countries like India and China is driving the market for both fresh and processed tomatoes. The United States, however, is the largest tomato processing market in the world representing more than 35% of the market. In 2017, about 22 million pounds of tomatoes were processed in the country, and accounted for 70% of the total processed vegetables in the country. Italy is another significant market in the industry with the domestic demand for processed tomatoes intrinsically linked to the traditional food being consumed.
Market Analysis by Types:
Fresh Tomato
Processed Tomato Products
Tomatoes can either be available fresh or can be processed into various products.
Market Analysis by Applications:
Sauces
Paste
Canned Tomatoes
Ketchup
Juice
Processed tomatoes find their end-uses in sauces, paste, canned tomatoes, ketchup, and juice.
Market breakup by Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Region-wise, the market can be divided into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa regions.
Key Findings of the Report:
The global tomato processing market is being driven by its expanding applications in the household and food processing sectors.
The foodservice industry is also emerging as a growing application sector for processed tomatoes in segments like fast food retail chains, hotels, and restaurants.
The thriving fast food sector along with the rising market for organised retail sector is aiding the industry.
The market is also being aided by its favourable properties like longer shelf life and additional health benefits.
Tomato puree finds extensive use across multiple value-added products like ketchup, paste, strained tomato pulp, pickles pasta, salsa, gravies, pizza sauces, ready-to-eat curries, and tomato-based powder products.
Key Offerings of the Report:
The EMR report analyses the markets for the different types of tomatoes and the various end-use sectors of processed tomatoes for the periods (2015-2019) and (2020-2025).
The report analyses the regional historical (2015-2019) & Forecast (2020-2025) consumption for tomatoes and tomato processing markets.
It also gives a global trade data analysis of the major exporting and importing countries by their value and volume for the year 2019.
It offers the regional historical (2015-2019) & Forecast (2020-2025) price trends in the tomato processing market.
The Morning Star Company, COFCO Tunhe Tomato Co., Ltd., Xinjiang Chalkis Tomato Products Co.,ltd, Ingomar Packing Company, J.G. Bosewell Tomato Co.ltd, Conagra Brands, Inc, Conserve Italia Soc. Coop. Agricola, Olam International Limited, Los Gatos Tomato, Inc., China Haohan Group Limited, and The Campbell Soup Company are the key players in the global tomato processing market as identified by the EMR report. The report by EMR covers their market share, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds.
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