Market Research Future (MRFR) has published a cooked research report on the “Global Canned Tomatoes Market ”that contains information from 2018 to 2032. The canned tomatoes market is estimated to register a CAGR of 5.60% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global canned tomatoes market— Red Gold, General Mills, Inc., Kraft Heinz Company, Sun-Brite Foods Inc., Dematteis, Del Monte Foods Holding Limited And Subsidiaries, Unilever Plc, Nestle S.A., Conagra Brands., Princes Limited and others.
Canned Tomatoes Market Highlights
The global canned tomatoes market is accounted to register a CAGR of 5.60% during the forecast period and is estimated to reach USD 19.5 billion by 2032.
The global canned tomato market has experienced rapid expansion in recent years, owing to evolving consumer preferences for simple and convenient food products, as well as increased awareness about the detrimental impacts of plastic-based food packaging. Furthermore, consumers are willing to spend more money on ready-to-cook meals and canned food products such as fruits, fish, organic veggies, and so on. During the forecast period, these factors are expected to drive market growth.
Segment Analysis
The global canned tomatoes market has been segmented based type, end-user and sales channel
On the basis of type, the market is segmented into includes whole peeled tomatoes, diced tomatoes, stewed tomatoes and others. The diced tomatoes segment had the highest market share in 2022, accounting for over two-fifths of the global canned peeled tomatoes market, and is likely to maintain its dominance throughout the forecast period.
Based on end-user, the global canned tomatoes market has been segmented residential and commercial. During the forecast period, the residential sector is likely to maintain its lead, accounting for more than two-thirds of the global canned peeled tomatoes market in 2022. With a growing preference for home-cooked meals, particularly in developed countries, demand for canned tomatoes is expected to rise in the residential segment.
The global canned tomatoes market has been split by sales channel, which comprises offline channels and internet channels. In 2022, the offline channels is predicted to rule the roost, accounting for more than four-fifths of the global canned peeled tomatoes market revenue. This is due to rising urbanization, an increase in working-class population, and competitive pricing, which makes hypermarkets and supermarkets more appealing in both developed and developing countries.
Regional Analysis
The global canned tomatoes market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Canned Tomatoes Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Canned Tomatoes Marketin Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Canned Tomatoes Market comprises of Middle East, Africa, and Latin America.
North America is the dominant region in the canned tomatoes market due to factors such as high consumption of canned food items, a robust distribution network, and a well-established food manufacturing industry. Furthermore, the region's demand for convenience and ready-to-eat food goods contributes to North America's market supremacy.
In addition, Europe held the second biggest revenue market share in 2022, accounting for more than two-fifths of the worldwide canned peeled tomatoes market, and is expected to maintain this position throughout the forecast period. This is because Europe is one of the most popular tourist destinations in the world, with the number of visitors increasing year after year. Full-service restaurants, quick-service restaurants, cloud kitchens, and individual small kitchens are rapidly expanding, driving up demand for canned peeled tomatoes in the region. Tomatoes are the primary source of acidity in cuisine, particularly in traditional Italian pasta meals.
The Asia-Pacific canned tomatoes market is estimated to develop at the quickest CAGR between 2023 and 2032. Because of the rising popularity of ready-to-eat items, this region is a successful market for canned peeled tomatoes. Because Asia-Pacific is a developing region, many countries welcome foreign investment in their markets, which will help market participants build their businesses in this region.
Furthermore, the rest of the worlds canned tomatoes marketis divided into the Middle East, Africa, and Latin America. The culinary traditions and preferences of these regions are one reason for the Middle East, Africa, and Latin America's contribution to the canned tomato market. Tomatoes are commonly used in traditional Middle Eastern, African, and Latin American cuisines. Canned tomatoes' rich flavours and adaptability make them an essential element in many cherished recipes, such as stews, sauces, and salsas.
Key Findings of the Study
- The global canned tomatoes market is expected to reach USD 19.5 billion by 2032, at a CAGR of 5.60% during the forecast period.
- Europe held the second largest revenue market share in 2022, accounting for more than two-fifths of the global canned peeled tomatoes market, and this position is likely to be maintained during the forecast period.
- The global canned tomatoes market has been divided into residential and commercial segments based on end-user. The residential sector is expected to maintain its lead over the forecast period, accounting for more than two-thirds of the global canned peeled tomatoes market in 2022.
- Red Gold, General Mills, Inc., Kraft Heinz Company, Sun-Brite Foods Inc., Dematteis, Del Monte Foods Holding Limited And Subsidiaries, Unilever Plc, Nestle S.A., Conagra Brands., Princes Limited and others.
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Companies Covered | 15 |
Pages | 128 |
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