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.
Canned tomato is a term alluding to tomatoes that are saved with a plastic covering.
Canning tomato implies saving the unripe tomato by adding a covering or compartment, like a container, to the outside of the tomato and securing in the normal dampness.
There are two distinct kinds of canning: salt or water canning and sealed shut canning.
Water canning typically gives better character yet will in general be more costly.
Impermeable canning is more costly on the grounds that it forestalls the deficiency of flavor in the can yet yields better canned tomatoes.
Canned tomatoes is widely used in many recipes.
