Ketchup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Ketchup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global ketchup market is projected to grow at a CAGR of 5.2% during the forecast period (2021-2026).

The market is preliminarily driven by consumer's inclination towards western lifestyles and changing dietary habits, especially in developing countries.

The burgeoning middle class would remain a vital consumer demographic for the fast-food industry in the upcoming years, leading to significant growth prospects for the global ketchup market.

Private label ketchup brands have been performing better than well-established brands in many countries such as the UK, France, Germany, and others. This is mainly because many consumers have cut down their spending on non-essential products such as ketchup, sauces, spreads, dressings, and other similar products.

The COVID-19 pandemic has placed unprecedented stresses on food supply chains, with bottlenecks in farm labor, processing, transport, and logistics, as well as momentous shifts in demand. Food supply chains demonstrated a remarkable resilience in the face of these stresses. The effect on the agricultural sectors, including fruits and vegetables (raw material for ketchups), is marginal throughout world.

Key Market TrendsIncreasing Inclination towards Organic Ketchup

The growing demand for organic tomato ketchup will be one of the significant trends that will gain market traction in the coming years. The rise in health-conscious consumers owing to their growing preference towards organic products due to their natural and healthy ingredients would further fuel the market growth.

Moreover, the high functional property of regular ketchup is boosting its market growth. There is an increase in the adoption of regular ketchup across the globe, owing to its high sustainability. Some of the companies providing organic ketchup include The Kraft Heinz Company, Annie's Homegrown, Inc., and Orchard Lane. Moreover, the global sales of organic food have increased between 2000 and 2017. In 2018, sales of organic food amounted to USD 95 billion, up from nearly USD 18 billion in 2000. This factor too is expected to spur the demand for organic ketchup in the global ketchup market.

Changing Dietary Habits and Inclination towards Western Lifestyle

Inclination towards Western lifestyle and changing dietary habits of people, especially in developing countries, drive the growth of the ketchup market. Also, the consumers, especially in North America prefer to use ketchup, among all the other sauces and condiments. About 97% of households in the United States consume ketchup. The consumption of ketchup is gaining popularity day by day owing to the growing change in the food habits and increased consumption of Western-style fast food products, Chinese, continental and other convenient snack foods. The shift has been towards spending less time on food preparation or opting for more convenient options will likely to affect the growth of ketchup market globally. Consumers have expanded their usage of ketchup as it becomes a convenient replacement for other sauces and condiments.

Competitive Landscape

The global ketchup market faces high competition, as the majority of the share is held by the leading players, including Del Monte Foods, Inc, The Kraft Heinz Company, and Conagra Brands, Inc. The key players have intensely embarked on industry consolidation by leveraging their distribution network, entering into partnerships with local distributors especially in the emerging economies and developing new products with customization for different end-user industries. Moreover, these players are focussing on online distribution channels for their online marketing and branding of their products in order to expand their geographic reach and increase their customer base.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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