The surge in demand for processed food has emerged as a significant driver for the growth of the tomato puree market. As consumer lifestyles continue to evolve, there is a rise in preference for convenient and time-saving food options. Processed food, which often incorporate tomato puree as a key ingredient, offer quick and easy meal solutions for individuals with busy schedules. Tomato puree serves as a versatile base for a variety of processed food products, including sauces, soups, ready-made meals, and snacks.As a result, the tomato puree market is expected to experience growth alongwith the expanding market for processed food, driven by the changing preferences and lifestyles of consumers globally.
PORTLAND, Ore., March 14, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Tomato puree Market By Nature (Organic, and Conventional), Packaging (Glass Jar, Tin, and Others), Application (Food and Beverage Industry, Food Service Industry, and Retail), and Distribution Channel (B2B, Supermarkets/Hypermarkets, Convenience Store, Departmental Stores, and Online Sales Channel): Global Opportunity Analysis And Industry Forecast, 2023-2032: Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global tomato puree market was valued at $5,189.9 million in 2022, and is projected to reach $7,699.5 million by 2032, registering a CAGR of 4.1%.
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Prime determinants of growth
Tomato puree plays a major role in the daily culinary routines of individuals, making significant contributions to the global food and beverage industry. The growing awareness of diverse and authentic flavors, along with a rising interest in international cuisines, has fueled the demand for a wide range of tomato puree products. Moreover, the growing demand for processed food has emerged as a significant driver for the growth of the tomato puree market. As consumer lifestyles continue to evolve, there is a rising preference for convenient and time-saving food options. Processed foods often incorporate tomato puree as a key ingredient, as it offers quick and easy meal solutions for individuals with busy schedules. Thus, the tomato puree demand is expected to gain momentum in the coming years.
Report coverage & details: | |
Report Coverage | Details |
Forecast Period | 2022-2032 |
Base Year | 2022 |
Market Size in 2022 | $5,189.9 Million |
Market Size in 2032 | $7,699.5 Million |
CAGR | 4.10 % |
No. of Pages in Report | 275 |
Segments covered | Nature, Packaging, Application, Distribution Channel, and Region. |
Drivers | Increasing consumer demand for convenient and ready-to-use cooking ingredients |
Growing awareness of the health benefits associated with tomato-based products | |
Expanding foodservice industry, driving higher usage of tomato puree in restaurant and catering businesses | |
Opportunities | Growing trend of home cooking and meal preparation |
Rise in popularity of ethnic and international cuisines | |
Restraints | Price volatility of the raw materials |
Stringent regulatory requirements |
The conventional segment to maintain its leadership status throughout the forecast period
Based on nature, the conventional segment held the highest market share in 2022, accounting for nearly three-fourths of the global tomato puree market revenue. Conventional farming methods are well-suited for large-scale production, allowing for the consistent and abundant supply of tomatoes. The scalability of conventional practices aligns with the high demand for tomato puree on a global scale, making it the preferred choice for manufacturers aiming to meet market needs efficiently. Conventional tomato farming typically involves the use of synthetic fertilizers and pesticides, leading to higher yields and lower production costs. This cost efficiency makes conventional tomatoes more economically viable for large-scale cultivation and subsequently influences the affordability of conventional tomato puree.
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The tin segment to maintain its leadership status throughout the forecast period
Based on packaging, the tin segment held the highest market share in 2022, accounting for nearly half of the global tomato puree market and is estimated to maintain its leadership status throughout the forecast period. Tin containers provide protection against light, moisture, and air, ensuring the longevity of the tomato puree by preserving its flavor, color, and nutritional integrity. The durability of tin cans safeguards the contents during transportation and handling, assuring that the product reaches consumers in optimal condition. Additionally, the cost-effectiveness of tin packaging makes it an economically viable choice for both manufacturers and consumers, which contributes to the overall competitiveness of tomato puree products. The easy-to-store nature of tin cans optimizes shelf space, enhancing logistical efficiency throughout the supply chain. Furthermore, the recyclability of tin aligns with the increasing consumer preference for sustainable packaging options, making it an environment-friendly choice and meeting standards for responsible packaging practices in the industry.
The food and beverage industry segment to maintain its leadership status throughout the forecast period
Based on application, the food and beverage industry segment held the highest market share in 2022, accounting for more than two-fifths of the global tomato puree market and is estimated to maintain its leadership status throughout the forecast period. Tomato puree is a versatile base that adds rich flavor and vibrant color to a wide range of dishes, including sauces, soups, stews, curries, and pasta. The adaptability of tomato puree makes it an essential ingredient in diverse cuisines, driving demand across different food categories. Moreover, tomato puree serves as a convenient and time-saving ingredient in various recipes. It eliminates the need for washing, peeling, and chopping fresh tomatoes, making it a preferred choice for several businesses operating in the food industry.
The B2B segment to maintain its leadership status throughout the forecast period
Based on distribution channel, the B2B segment held the highest market share in 2022, accounting for more than one-third of the global tomato puree market and is estimated to maintain its leadership status throughout the forecast period. The B2B tomato puree ecosystem is comprised of multiple players, including manufacturers/suppliers, wholesalers/distributors, retailers, food service providers, food manufacturers, importers, and exporters. It consists of marketplaces where the vendor and the buyer of tomato puree make deals and transactions. The suppliers provide tomato puree direct from other businesses and go through a process where one business makes a transaction with another. Moreover, the B2B distribution channel does not involve any intermediaries and has smooth monetary transactions without any fraud. The B2B e-commerce evolution has introduced the path to digital procurement in the tomato puree industry.? The adoption of digitalization in sales channels has made the work of manufacturers and vendors easy and smooth. In addition, the manufacturers display their products directly through digital marketing platforms Facebook, Instagram, Twitter, and Google. Therefore, manufacturers are able to expand their consumer base along with the improved perception of their brand.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022 and is likely to dominate the market during the forecast period. North American cuisine incorporates a wide range of dishes that use tomato puree as a key ingredient. From pasta sauces and soups to salsas and stews, tomato puree is a versatile component in many popular dishes, contributing to its high demand in the region. Furthermore, the North American region has a well-established processed food industry, and tomato puree is a common ingredient in various processed foods. Ready-made pasta sauces, canned soups, pizza sauces, and other convenience products often rely on tomato puree, driving demand for tomato puree products in the region.
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Leading Market Players: -
- Neil Jones Food Company
- Stanislaus Food Products
- Kiril Mischeff Group
- Conserve Italia Group
- Sainsbury's
- Riviana Foods Inc.
- Conagra Brands Inc.
- Del Monte Foods, Inc.
- Heinz Wattie's Ltd.
- Ariza b.v.
The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter's five forces analysis to determine the factors affecting market growth.
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