Tomato Ketchup Market Outlook 2031
The global tomato ketchup market size was valued at about USD 21.7 Billion in 2022 and is anticipated to reach USD 28.3 Billion by 2031, expanding at a CAGR of 3% during the forecast period, 2023 – 2031. Significant growth in the food and beverage industry with hotels, quick-serving restaurants (QSR) chains, and cafes offering multi-cuisine foods with tomato ketchup complimenting them are expected to fuel the market.
Tomato ketchup, commonly referred to as table sauce, is a cold condiment produced made from red tomatoes. It acts as a dip and can be consumed with hot and cold food items. The tangy and sweet taste of tomato ketchup enhances the taste of appetizers and snacks.
Organic tomato ketchup is prepared by blending ripe blanched tomatoes with salt, seasonings and herbs, vinegar, and sugar. The mixture is further manufactured using the hot break method, wherein the tomato pulp is heated to 105 °C.
Tomato ketchup is commonly served with burgers, fries, sandwiches, and meat that is grilled or fried. Curries and soups have their base sauce as tomato ketchup for improving the consistency and flavor. Tomato ketchup has lycopene, a non-provitamin A carotenoid, vital vitamins, potassium, calcium, antioxidants, alpha-lipoic acid, lutein, and choline with proven health benefits.
The market report finds that the COVID-19 pandemic restrained the tomato ketchup market due to the imposition of lockdowns by governments. This led to a shortfall in raw materials for producing ketchup. Transportation was disrupted during the lockdown, which impacted the supply of raw materials such as tomatoes, which affected the export and import of tomatoes across the globe.
Transportation hindrances largely affected delivery channels of processed tomato ketchup. The shutting down of restaurants largely affected the tomato ketchup market.
Tomato Ketchup Market Dynamics
Major Drivers
Growing number of fast-food chains and restaurants around the world is driving the tomato ketchup market. Increasing disposable incomes of consumers and the growing trend of dining out due to fast-paced lifestyles are expected to fuel the tomato ketchup market.
Existing Restraints
Growing popularity of mustard, barbecue, and other sauces is likely to restrain the market. Availability of healthy options such as salsa and Mexican dipping sauces with less sugars, salts, and unhealthy fats are likely to hamper the market expansion.
Emerging Opportunities
Increasing demand for organic and healthy foods containing rich polyphenols such as flavonols, hydroxycinnamic acids, flavanones, and anthocyanins is expected to provide lucrative opportunities for market expansion. Rising popularity of organic ketchup due to constituent elements in condiments and antioxidants is expected to fuel the market.
Scope of Tomato Ketchup Market Report
The report on the global tomato ketchup market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Tomato Ketchup Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 – 2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Flavored and Regular), Packaging (Pouch and Bottled), and Distribution Channel (Offline and Online)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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JBS S.A.; Nestlé; Unilever; Kellogg Co.; McCain Foods Ltd.; Ajinomoto Foods; Conagra Brands, Inc; Hormel Foods; 2 Sisters Food; Waitrose; The Kraft Heinz Company; Associated British Foods plc; Kraft Foods; BRF S.A.; Astral Foods; Wm. Morrison Supermarkets; Samworth Brothers; and General Mills Inc.
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Tomato Ketchup Market Segment Insights
Product Segment Analysis
Based on product, the tomato ketchup market is bifurcated into flavored and regular. The regular segment is expected to expand at a significant pace during the projection period, owing to the growing demand for healthy nutritious foods that are low in calories and fat.
Increasing consumer demand for vinegar-based ketchup with adequate spices, seasoning, color, and consistency is expected to boost the segment during the forecast period.
The flavored segment is anticipated to hold a key share of the market, owing to the growing demand for flavored hot, and spicy flavors of tomato ketchup. Ketchup with flavored spices that include onions, cloves, cumin, coriander, garlic, mustard, ginger, cinnamon, and celery is expected to boost the segment.
Packaging Segment Analysis
On the basis of packaging, the market is divided into pouch and bottled. The bottled segment is expected to expand at a significant pace during the projection period, owing to the reduction of waste created by bottled ketchup products and through the striking of the perfect balance between balance economic growth, social well-being, and environmental care.
The ease of handling ketchup stored in bottles to ensure product quality remains intact is likely to boost the segment in the coming years. The pouch segment is anticipated to hold a key share of the market due to the growing demand for attractive and innovative packaging of products.
The extensive use of pouches by manufacturers for the environmentally friendly and recyclable properties of ketchup pouches is expected to propel the segment.
Distribution Channel Segment Analysis
In terms of distribution channel, the tomato ketchup market is divided into offline and online. The offline segment is projected to hold large share of the market, owing to the tendency of consumers to physically verify product quality before purchasing. The ease of accessing ketchup through physical stores is expected to boost the high-volume production of tomato ketchup in the coming years. The extensive use of tomato ketchup in the organic food and beverages industry is likely to bolster the market in the coming years.
The online segment is anticipated to gain significant revenue shares of the tomato ketchup market, owing to the significant growth of e-commerce platforms and online product offerings by manufacturers through online grocery apps and websites.
Increased coverage of internet services has boosted the sales of food products through third-party shopping websites, which are likely to boost the market during the forecast period.
Regional Analysis
Based on region, the global tomato ketchup market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period owing to the high consumption of fast-food products in the region. Consumer preferences for ketchup over condiments and sauces and growing awareness of the health benefits of tomato ketchup are likely to bolster the market in the region.
The market in Asia Pacific is projected to grow at a rapid pace, owing to the existence of a large consumer base in China, Japan, and India. Increase in the consumption of fast food and growing disposable income are likely to fuel the tomato ketchup market during the forecast period.
Segments
The global tomato ketchup market has been segmented on the basis of
Product
Packaging
Distribution Channel
Key Players
- JBS S.A.
- Nestlé
- Unilever
- Kellogg Co.
- McCain Foods Ltd.
- Ajinomoto Foods
- Conagra Brands, Inc
- Hormel Foods
- 2 Sisters Food
- Waitrose
- The Kraft Heinz Company
- Associated British Foods plc
- Kraft Foods
- BRF S.A.
- Astral Foods
- Wm. Morrison Supermarkets
- Samworth Brothers
- General Mills Inc.
Competitive Landscape
Players in the tomato ketchup market include JBS S.A.; Nestlé; Unilever; Kellogg Co.; McCain Foods Ltd.; Ajinomoto Foods; Conagra Brands, Inc; Hormel Foods; 2 Sisters Food; Waitrose; The Kraft Heinz Company; Associated British Foods plc; Kraft Foods; BRF S.A.; Astral Foods; Wm. Morrison Supermarkets; Samworth Brothers; and General Mills Inc.
These companies adopt product lifecycle strategies, the creation of new product lines, mergers, production expansion, acquisitions, product flanking, and product launches to boost their market share.
- In June 2022, Heinz launched a new cold ketchup range in Canada that turned color to icy blue when chilled. Heinz introduced selected grocery stores and specially-marked display fridges for the product display and launch.
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In 2021, The Kraft Heinz Company expanded its business by launching, the Marz Edition ketchup prepared through tomatoes grown in Martian soil conditions. This unique tomato ketchup contains specially processed tomatoes in collaboration with the Florida Institute of Technology's Aldrin Space Institute.
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