Tomato Ketchup Market - Forecast(2024 - 2030)

Report Code: FBR 0246 Report Format: PDF + Excel

Tomato Ketchup Market Overview

Tomato Ketchup Market size is estimated to reach $24.6 billion by 2027, growing at a CAGR of 4.2% during the forecast period 2022-2027. Tomato ketchup can be delineated as a category of table condiments that is fabricated by using tomatoes, organic sweeteners, acetic acid, and pungent spices. Such food dressings are taken into account to enhance the taste and flavor of food. Tomato ketchup is generally of two types regular and flavored ketchup. Ketchup with ethnic flavors has become a tradition to eat fast foods such as French fries, tater tots, sandwiches, and roasted meat. With the growing popularity of fast foods among the younger generation various food-specific ketchup and sauces have come to the foreground in recent years such as barbecue sauce, and egg ketchup. The tomato ketchup market outlook is exceptionally bewitching with the availability of top-notch flavors and organic choices. Proliferating western influence, the existence of smaller ketchup brands are factors set to drive the growth of the Tomato Ketchup Industry for the period 2022-2027.

Report Coverage

The report: “Tomato Ketchup Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Tomato Ketchup Market.

By Product Type: Standard, Organic, and Flavored.
By Application: Household and Commercial/Industrial.
By Packaging: Bottle Packaging and Pouch packaging.
By Distribution Channel: Offline and Online Platforms.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways

  • Geographically, the North America Tomato Ketchup Market accounted for the highest revenue share in 2021. It is owing to the presence of robust demand for fast food. However, the Asia-Pacific is poised to dominate the market over the period 2022-2027 owing to the growing processing industry and alignment of industries to locally produce to self-sustain. 
  • Augmenting demand for ready-to-eat foods is said to be the preeminent driver driving the growth of the Tomato Ketchup Market. Hampered production activities attributed to the reimposition of lockdowns, and health hitches associated with the overuse of ketchup are said to reduce the market growth.
  • Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Tomato Ketchup Market report.

Tomato Ketchup Market- Distribution Channel (%) for 2021.

Tomato Ketchup Market

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Tomato Ketchup Market Segment Analysis-By Application

The Tomato Ketchup Market based on the application type can be further segmented into cleaning saucepans, cosmetics, household foods, and industrial/commercial. The household segment held the largest share in 2021. The growth is owing to altering eating habits of people attributed to envy toward the western style of living. The majority of people in developing countries blindly follow the things trending in western nations. Moreover, as the demand for ready-to-eat (RTE) foods is escalating the popularity and use of tomato ketchup are plunging upward. In fact, it has become an indispensable part of dining tables across the globe. Similarly, the household segment is estimated to be the fastest-growing segment with a CAGR of 5.5% over the forecast period 2022-2027. This growth is owing to augmenting the per capita income of people and the availability of organic ketchup which is health-friendly. On another hand, soaring ethnic ketchup flavors are contributing to the growth of the tomato ketchup market. Furthermore, the supply/production of tomatoes is growing by an average of 200,000 tons each year since 2000, which further allows ease in the raw material pickings. Additionally, around 39 million tons of tomatoes are used for processing each year.

Tomato Ketchup Market Segment Analysis-By Distribution Channel

The Tomato Ketchup Market based on distribution channels can be further segmented into offline (supermarkets/hypermarkets, convenience stores, small retail stores, others), and Online Platforms. The offline segment held the largest share in 2021. The growth is owing to the all-encompassing existence of offline platforms like retail shops. Unlike modern retail outlets and online platforms, small retail outlets have a massive presence in pastoral areas. People make every necessary and required purchase from there only which is the prime reason behind the growth in the respective segment. According to a statistic on population, more than 3.3 billion people worldwide live in the countryside as of 2021. Moreover, the offline segment is estimated to be the fastest-growing with a CAGR of 5.6% over the forecast period 2022-2027. This growth is owing to the growing number of supermarkets with swift modernization around the globe. Busy shoppers feel no problem in paying a premium as these modern retail outlets offer the convenience of shopping for everything in one place. The online segment is not yet there to compete with the offline retail segment as a big chunk of the population doesn’t like to purchase grocery and fast-moving consumer goods (FMCGs) online.

Tomato Ketchup Market Segment Analysis-By Geography

The Tomato Ketchup Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 35% of the overall market in 2021. The growth in this segment is owing to the factors such as an avant-garde network of modern retail outlets. According to a report around 42000 to 45000 supermarkets outlets are present in the US in 2021. The number has witnessed a slight increase of 0.6% as compared to the year 2020. Nevertheless, the widescale popularity of ketchup in the US is another factor driving the growth in the tomato ketchup market. Ketchup bottles are part of more than 90% of American households. Besides, the far-reaching presence of food outlets such as McDonald's, Burger King, Subway, and others has their fair share in promoting the demand for tomato ketchup. However, the Asia-Pacific segment is expected to offer lucrative growth opportunities over the forecast period 2022-2027. This growth is owing to heightening Western influence in developing countries such as India, China, and Indonesia. Rapid growth in these nations changing people's tastes and preferences is anticipated to be a blessing for the respective segment. Nevertheless, any growing trend in Asia is always sure to be a hit considering the colossal population of the continent.

Tomato Ketchup Market Drivers

Surging western influence and swift modernization in developing nations are Anticipated to Boost Product Demand. 

Instantaneous modernization around the globe due to breakthroughs in science and technology, industrialization is a major factor driving the market. As a result of this percentage of the world population living in urban areas is broadening. According to a report, around 4-4.46 billion people are residing in cities which is more than 50% of the total world population. Consequently, they are enjoying the conveniences of city life such as 24/7 open retail outlets, doorstep food deliveries, better jobs, and many more. Better jobs are providing them the liberty to make such purchases which in turn is promoting growth. On another hand, soaring western culture in developing countries is another prime driver of the tomato ketchup market.

The presence of organic alternatives and wide-ranging applications of tomato ketchup is Expected to Boost Product Demand.

The options of organic tomato ketchup are a blessing in disguise for the future of healthy future of the ketchup market. Organic ketchup extends a variety of advantages over conventional which is the main reason behind its heightening popularity. Around 8-9% of people are afflicted with diabetes worldwide and the number is anticipated to grow up to 11-12% by 2045. Consequently, the demand for organic ketchup is swelling as organic sugars are helpful in stabilizing the sugar count of the body. Moreover, organic condiments exhibit many antioxidants like polyphenols which reduce the risk of cardiovascular diseases like cancer and heart attack.

Tomato Ketchup Market Challenges

Vulnerable demand and supply chain, health snags associated with tomato ketchup overuse are Anticipated to Hamper Market Growth.

Deteriorated supply chains due to lockdowns have an adverse effect on the respective market as without required raw materials there won’t be any production and without production, there will be no product to sell in the market. Rapid mutation in the structure of SARS-CoV-2 is forcing governments worldwide to reimpose lockdown. Moreover, in India, in 2020, the FMCG segment faced a loss in demand of about 71%. Thereby, the industry isn’t offering much room. Moreover, online retailers such as Amazon and Grofers are only providing 3-4% discounts on MRPs which have been successfully provided by the offline segment. Hence, marketers are missing out on a major trick to gain market participation. Therefore, people are restraining themselves from making non-essential purchases in the fear of another shutdown. Besides, the association of various health complications like obesity, skin allergies, acidity, and others may turn people unwilling to consume the same.

Tomato Ketchup Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Tomato Ketchup Market. Key companies in this market are-

  1. Nestle S.A.
  2. Kraft Heinz Company
  3. Hindustan Unilever
  4.  Del Monte Food
  5.  Organicvalle
  6. Conagra Brands
  7. Annies Homegrown
  8. Mutti - Industria Conserve Alimentari 
  9. Red Duck Foods
  10. Campbell Soup Company

Recent Developments

  • On December 10, 2021, Florida Tech and Heinz collaborated to grow space tomatoes for ketchup. The product has been named Marz Edition. Heinz, a company synonymous with ketchup, successfully funded and collaborated with biologists at Florida Tech’s Aldrin Space Institute to grow tomatoes in Mars-like conditions here on the Space Coast to show once and for all that even on faraway worlds humans can have the perfect condiment. It produced a single bottle of ketchup that was unveiled on Nov. 15 at Heinz HQ in Pittsburgh.
  • On December 8, 2021, Kraft Heinz has announced the intention to combine US and Canada businesses to form the North American Zone. The sew structure is bound to take effect from the fiscal quarter of 2022. The move is meant to advance the global food and beverage leader’s long-term, sustainable growth plans—which were first outlined at its Investor Day event in September 2020—by bringing increased agility to its innovation agenda, operations, and go-to-market approach. The Company’s U.S. and Canada businesses accounted for approximately 80% of its 2020 consolidated net sales.
  • On October 26, 2019, U.S.-based company “Conagra Brands” publicized the successful acquisition of “Pinnacle Foods.” Conagra completed its largest merger by making a payment of $10.9 billion to Pinnacle Foods. It was a cash and stock deal therefore existing shareholders of Pinnacle got 0.64 shares of Conagra and $43.1 for every share they were holding.

Relevant Links:

Report Code: CPR 0090

Report Code: FBR 0069

Report Code: FBR 0096

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1. Tomato Ketchup Market Overview
    1.1 Definitions and Scope
2. Tomato Ketchup Market- Executive Summary
3. Tomato Ketchup Market – Market Landscape
    3.1 Company Benchmarking- Key Companies
    3.2 Key Company Financial Analysis
    3.3 Market Share Analysis
    3.4 Patent Analysis
    3.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Tomato Ketchup Market – Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. Tomato Ketchup Market – Industry Market Entry Scenario Premium (Premium)
    5.1 Regulatory Scenario
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Tomato Ketchup Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Tomato Ketchup Market – By Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle Analysis
8. Tomato Ketchup Market- By Product Type (Market Size –$Million/$Billion) 
    8.1 Standard
    8.2 Organic
    8.3 Flavored
    8.4 Others
9. Tomato Ketchup Market- By Application (Market Size –$Million/$Billion) 
    9.1 Household
    9.2 Commercial/ Industrial
10. Tomato Ketchup Market- By Packaging (Market Size –$Million/$Billion) 
    10.1 Bottle Packaging
    10.2 Pouch Packaging
11. Tomato Ketchup Market- By Distribution Channel (Market Size –$Million/$Billion) 
    11.1 Offline
        11.1.1 Hypermarkets
        11.1.2 Supermarkets
        11.1.3 Grocery Stores
        11.1.4 Other Retail Stores
    11.2 Online Retail
12.  Tomato Ketchup Market - By Geography (Market Size -$Million/Billion)
    12.1 North America
        12.1.1 U.S
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 Germany
        12.2.2 France
        12.2.3 UK
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Russia
        12.2.7 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 South Korea
        12.3.4 India
        12.3.5 Australia & New Zealand
        12.3.6 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Chile
        12.4.4 Colombia
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
        12.5.2 Africa
13. Tomato Ketchup Market - Market Entropy
    13.1 New product launches
    13.2 M&A's, collaborations, JVs and partnerships
14. Tomato Ketchup Market – Industry Competition Landscape (Premium)
    14.1 Market Share Analysis
        14.1.1 Global Market Share – Key Companies
        14.1.2 Market Share by Region – Key Companies
        14.1.3 Market Share by Countries – Key Companies
    14.2 Competition Matrix
    14.3 Best Practices for Companies
15. Tomato Ketchup Market – Key Company List by Country Premium (Premium)
16. Tomato Ketchup Market - Company Analysis
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
"*Financials would be provided on a best-efforts basis for private companies