Global Tomato Ketchup Market - 2023-2030

Global Tomato Ketchup Market - 2023-2030

Global Tomato Ketchup Market reached US$ 18.5 billion in 2022 and is expected to reach US$ 26.9 billion by 2030 growing with a CAGR of 4.8% during the forecast period 2023-2030. The rising demand for tomato ketchup as a condiment to many dishes and ready-to-eat foods, and rising vegan diet drive the growth of global tomato ketchup.

The rising online retail channels, and increasing promotional activities by key market players drive the market growth. The various promotional activities, and product launches by celebrities, and influencers are positively affecting the market. For instance, in 2022, Queen Elizabeth entered the condiments market, launching a new tomato ketchup brand. This ketchup is made with ingredients grown on the family's Sandringham Estate, making it a premium product.

Increasing popularity of organic ketchup due to constituent elements in condiments and antioxidants, gluten-free, and low-sodium ketchup is expected to fuel the market. The use of readily available and convenient food products has increased due to the growing working population and demanding schedules, positively boosting the demand for condiments such as tomato ketchup.

Market Dynamics
Advancements in the Packaging Industry are Estimated to Drive the Tomato Ketchup Market Growth.
Food packaging plays a vital role in overall product development. The food packaging industry is undergoing a massive transformation in terms of material and packaging handling that has helped increase the shelf life of ketchup and table sauces. It has undergone a massive change from pouches to refillable and recyclable bottle materials.

The various packaging variables, like squeeze packs, bottles, pouches, and other small sachets, are available in different formats. The increasing investments in the food processing industry drive up demand for high-quality goods with the use of natural ingredients. The focus on sustainability, as well as natural packaging materials and utilization of resources, effectively plays a crucial role in the tomato ketchup market's manufacturing, sales, and packaging.

Rising Demand for Ready-to-Eat Foods and New Product Launches Drive the Tomato Ketchup Market Growth.
Convenience is the primary factor driving the popularity of ready-to-eat foods. With busy lifestyles, the working population prefers ready-to-eat foods that consume less time and are easy to prepare. The changing consumer lifestyles, rise in urbanization, increased income, and change in eating habits have led to an immense increase in the popularity of these foods.

The ready-to-eat and fast foods consumed with tomato sauce and ketchup increase the need for these products. Furthermore, the demand for organic ketchup is increasing because organic sugars aid in sugar regulation in the body. Organic condiments contain numerous antioxidants, such as polyphenols, which reduce the risk of cardiovascular diseases such as cancer and heart attack.

The Growing Health Awareness Restrains the Tomato Ketchup Market Growth.
The health consciousness among people is rising with the growing prevalence of lifestyle diseases. In several food products, tomato ketchup is used as a flavor enhancer and thickening agent. The foods paired with tomato ketchup lead to various health issues. This is because of their high calories and fats because of the use of sweeteners. In addition, the tomato ketchup itself has high amounts of sugar, salt, spices, acidifiers, and other preservatives.

The extreme consumption of sodium benzoate, a chemical preservative in ketchup, can have side effects, including nausea, vomiting, and abdominal pain. In addition, the presence of various ketchup alternatives in the market and the increasing popularity of other condiments also contribute to the market’s decline. The strict rules and regulations by the government about food safety also hinder the global tomato ketchup market growth.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis
The global tomato ketchup market is segmented based on product, packaging, distribution channel, and region.
In the Global Tomato Ketchup Market, the Regular Segment Holds the Largest Market Share.
The global tomato ketchup market has been segmented by product into regular and flavored. In the tomato ketchup market analysis report, the regular segment held the largest tomato ketchup market share of 58.8% in 2022. The high sustainability of these regular ketchups is driving the segment’s growth.
The growing health concerns among consumers have increased the demand for low-calorie, low-fat tomato processed products, which, in turn, are stimulating the growth of the market. The high functional property and sustainability of regular ketchup will boost its market growth, it is also used as a base for other sauces.

Geographical Analysis
The North America Region Held the Largest Tomato Ketchup Market Share.
The global tomato ketchup market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American tomato ketchup market held the largest market share of 38.6% in 2022 in the tomato ketchup market analysis. The increasing awareness regarding the health benefits of consuming tomato ketchup in this region is driving the market.
The change in consumer preferences in this region from sauces and condiments to ketchup is driving the region’s market growth. It is estimated that approximately 97% of households in U.S. consume ketchup. Moreover, the rising consumption of fast-food products in the U.S. and Canada led to significant growth in the market.

Competitive Landscape
The major global players in the market include Nestle S.A., The Kraft Heinz Company, Unilever, Del Monte Foods Inc, Conagra Brands Inc, General Mills Inc, Campbell Soup Company, Kagome, Premier Foods plc, and Lee Kum Kee.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
Covid-19 Impact:
The unprecedented COVID-19 pandemic in 2020 profoundly affected the food industry. Covid-19 has considerably impacted the global food supply chain phases involving tomato ketchup production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

Why Purchase the Report?
• To visualize the global tomato ketchup market segmentation based on product, packaging, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of tomato ketchup market-level with all segments.
• The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.
The Global Tomato Ketchup Market report would provide approximately 61 tables, 54 figures and 165 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies