Tomato Concentrate Market Share, Size, Trends, Industry Analysis Report, By Product Type (Single Concentrate, Double Concentrate, and Triple Concentrate); By Packaging Type; By Application; By Sales Channel; By Region; Segment Forecast, 2023 - 2032
- Published Date:Jul-2023
- Pages: 115
- Format: PDF
- Report ID: PM3686
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global tomato concentrate market was valued at USD 1.11 billion in 2022 and is expected to grow at a CAGR of 5.4% during the forecast period.
The constant change in consumer preference for convenience and ready-to-eat food products and surging popularity of various tomato-based products such as paste, sauces, and purees coupled with the exponential growth in food service industry including hotels, restaurants, and catering services, are among the major factors influencing the growth of the market at rapid pace.
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The significant rise in investments in research & development These advancements have expanded the market reach and facilitated the development of new product variants, including organic, low-sodium, and value-added tomato concentrates. Technological innovations drive product innovation and contribute to tomato concentrate market growth.
- For instance, in November 2022, Erisco Foods, introduced its new range of products into the Nigerian market. The new range of products include ketchup, tomato puree, coffee mix, and many others, which will help the company to expand its customer base and boost their revenue aspects.
Moreover, consumers across the globe are increasingly concerned about the environmental impact and ethical practices associated with the food they consume, which led to rising interest in sustainable sourcing and production methods of tomato concentrate. Apart from this, manufacturers are seeking for sustainable farming practices, reducing water usage, and implementing environmentally friendly packaging to meet the demand for sustainable and ethically produced tomato concentrate.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the tomato concentrate market. The rapid spread of deadly coronavirus across the globe led to significant disruptions in the global supply chains, which create several challenges in product availability and to meet the consumer demands. However, the pandemic highlighted the importance of health and immunity, led to increased consumer interest in nutritious and immune-boosting food products, thereby has propelled the demand during the pandemic.
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Industry Dynamics
Growth Drivers
Growing consumption of tomatoes and rapidly expanding food processing industry are factors anticipated to push tomato concentrate sales in the long run.
Increasing consumer focus about health and fitness across the globe, that has resulted in significant popularity and consumption of organic food products coupled with the growing consumer willingness to spend higher on natural processed food products are driving the market growth. Additionally, the rising prevalence regarding the use of tomatoes in skincare applications due to its acne-fighting and skin-brightening characteristics, is also likely to have positive impact on global market growth.
Furthermore, the rapid globalization of cuisines and the increasing exposure to international flavors have influenced consumer preferences and increasing usage of tomato concentrate in various cuisines worldwide including Italian, Mexican, and Mediterranean dishes along with the growing awareness and adoption of international cuisines, are contributing to the demand for tomato concentrate as an essential ingredient over the years.
Report Segmentation
The market is primarily segmented based on product type, packaging type, application, sales channel, and region.
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By Product Type |
By Packaging Type |
By Application |
By Sales Channel |
By Region |
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By Product Type
Double concentrate segment accounted for the largest market share in 2022
The double concentrate segment accounted for highest share on account of its cost-efficiency and stability and longer shelf life, which makes the product suitable for transportation and long-term usage along with the growing number of industrial applications of these products in the production of soups, sauces, ketchups, and many other processed foods.
Additionally, the growing popularity of these products to provide a quick and easy way to incorporate the flavor of fresh tomatoes into various recipes without the need for extensive preparation and continuously surging demand for ready-to-use ingredients and products aligns along with the changes in consumer preference for convenient and time-saving food products, is likely to influence the market positively.
By Packaging Type Analysis
Cans segment is expected to witness highest growth
The cans segment is expected to grow at highest growth rate over the next coming years, which is largely attributable to its ability to provide a convenient and effective way to preserve the nutritional value of tomatoes all over the years and are widely available and accessible to consumers across the world. It further helps extending the shelf life of tomato concentrates which is particularly important for consumers who want to have long-lasting supply of tomato products without worrying about spoilage or quality degradation, thereby gaining significant traction.
The bottles segment led the industry market with substantial revenue share in 2022, mainly due to its numerous beneficial features and characteristics including potability, can be resealed, and easy to handle compared to other packaging types. It also allows manufacturers to adopt effective branding and marketing strategies to increased their consumer awareness regarding the beneficial properties of the products, which increases their revenue growth opportunities.
By Application Analysis
Industrial segment is expected to hold significant market share
The industrial segment is anticipated to account for significant market share in terms of revenue over the study period, which is mainly attributed to continuous expansion of the food processing industry which utilizes tomato concentrates as an ingredient in various types of food products including sauces, ready meals, and other processed items. Advancements in tomato processing technologies such as improved extraction methods, concentration techniques, and packaging innovations, have also led to enhance production efficiency, product quality, and storage capabilities, thereby further driving the market.
By Sales Channel Analysis
Hypermarkets & supermarkets segment held the maximum revenue share in 2022
The hypermarkets & supermarkets segment held the majority market share in 2022, on account of their ability to offer one-stop shopping experiences, while providing a wide range of products under a single roof to consumers and are also easily accessible to consumers, as they are often located in convenient locations within urban and suburban areas.
The e-commerce segment is expected to exhibit fastest growth rate of over XX% during the forecast period, mainly attributable to rapid emergence of various online shopping platforms and rising number of online shoppers across the globe, as a result of increasing mobile phone penetration and growing engagement to social media platforms, that encourages customers to opt for online shopping channels.
Europe region dominated the global market in 2022
The Europe region dominated the global market with considerable market share in 2022, and is expected to continue its market dominance throughout the study period, due to the presence of well-developed food processing industry and growing awareness regarding the several health benefits and nutritional value of tomato concentrate products in countries like Spain, Germany, France, and UK. Beside this, the region has emerged as a major or significant exporter of tomato concentrate to various regions, due to high quality and reliability of their products, which makes it a preferred choice in international markets and pushing the regional market growth forward.
The Asia Pacific region is anticipated to be the fastest growing region with a healthy CAGR over the coming years, owing to significant growth in the number of consumers and their changing dietary patterns coupled with the growing rate of urbanization and influence of western food habits in countries like India, Indonesia, and Malaysia. The availability of cheap raw materials and presence of favorable climatic conditions for tomato cultivation in several major countries in the region making them significant producers of tomatoes, and opening up new growth avenues for the market.
Key Market Players and Competitive Insight
Key players in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share.
Some of the major players operating in the global market include
- Aditi Foods
- Bionaturae
- Capricorn Foods Products
- Cento Fine Foods
- China Kunyu Industrial Co
- Conagra Foods
- Del Monte Foods
- Doehler, Exotic Fruits.
- Galla Foods
- Kirli Mischeff
- Los Gatos Tomatoes
- Muir Glen Organic
- Olam Spices & Vegetable
- Riviana Foods
- Vigo Importing Co.
Recent Developments
- In March 2022, Tomato Jos Farming, announced the launch of its much-anticipated tomato paste variant into the Nigerian market. The new facility in the market is first and only of its kind in the market that produces tomato sachet products directly from the fresh tomatoes and is currently available across the Kaduna State.
- In March 2022, Red Gold Tomatoes, introduced its latest promotional campaign in India to launch the canned tomatoes in the country. The canned tomatoes processed by the company advanced machinery and are delight for any kind of consumer across the world.
Tomato Concentrate Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 1.17 billion |
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Revenue forecast in 2032 |
USD 1.88 billion |
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CAGR |
5.4% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Product Type, By Packaging Type, By Application, By Sales Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation |
FAQ's
The tomato concentrate market report covering key segments are product type, packaging type, application, sales channel, and region.
Tomato Concentrate Market Size Worth $1.88 Billion By 2032.
The global tomato concentrate market is expected to grow at a CAGR of 5.4% during the forecast period.
Europe is leading the global market.
key driving factors in tomato concentrate market are growing consumption of tomatoes and rapidly expanding food processing industry are factors anticipated to push tomato concentrate sales in the long run
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