Tomato Concentrate Market Forecasts to 2030 – Global Analysis By Product (Triple Concentrate, Single Concentrate and Double Concentrate), Packaging Type, Source, Sales Channel, Application and By Geography

Tomato Concentrate Market Forecasts to 2030 – Global Analysis By Product (Triple Concentrate, Single Concentrate and Double Concentrate), Packaging Type, Source, Sales Channel, Application and By Geography According to Stratistics MRC, the Global Tomato Concentrate Market is accounted for $1.2 billion in 2023 and is expected to reach $2.0 billion by 2030 growing at a CAGR of 7.6% during the forecast period. To make tomato concentrate, the juice from ripe tomatoes is extracted and then concentrated using a variety of techniques. Since tomato concentrate conveniently gives the flavor of tomatoes without requiring the addition of a large quantity of fresh tomatoes to obtain the same flavor, it is widely utilized in cooking and food-related applications.

Market Dynamics:

Driver:

Versatility in food applications

A versatile component, tomato concentrate can be used in a variety of food products, such as soups, sauces, condiments, and ready-to-eat meals. Its flavor and color make it an outstanding addition to many cuisines, and its excellent nutritional value makes it a popular choice for people who are concerned about their health.

Restraint:

Fluctuation of raw material prices

The primary raw material used to make tomato concentrate is the tomato, and because of the weather, supply and demand, and other factors, the price of tomatoes can vary greatly. For manufacturers, this may lead to uncertainty and have an effect on their profitability.

Opportunity:

Rising popularity of tomato-based products

Due to their high vitamin, mineral, and antioxidant content, tomatoes are well known for their health benefits. Customers are looking for products created with natural and healthy ingredients, such as tomato concentrate, as they become more health conscious.

Threat:

Availability of alternatives and health concerns

Other concentrates, fresh or canned tomatoes, and other types of concentration are just a few of the many alternatives to tomato concentrate. This may reduce consumer demand for tomato concentrate and present difficulties for producers. Some customers might be worried about how eating processed meals, especially those made with tomato concentrate, would affect their health. This may restrict the market for tomato concentrate and create difficulties for producers.

Covid-19 Impact:

The manufacture and distribution of tomato concentrate have been hampered and delayed as a result of the COVID-19 pandemic's disruption of global supply systems. Tomato concentrate has become more expensive and less readily available as a result of this. Consumer behavior has shifted as a result of the COVID-19 epidemic, with many people turning to online shopping and cooking at home. Due to its widespread use in home-cooked meals, this has raised demand for tomato concentrate.

The organic segment is expected to be the largest during the forecast period

Organic segment is expected to hold largest share over the forecast period. Global demand and consumption for organic foods have increased significantly in recent years, and they are expected to have a significant impact on how the tomato concentrate market develops over the next few years. Additionally, comparing organic goods to their conventional equivalents, organic products are usually more expensive. This has increased the profit margins for organic tomato concentrate producers.

The industrial segment is expected to have the highest CAGR during the forecast period

Industrial segment is estimated to witness lucrative growth throughout the projection period. The food processing sector has experienced a substantial expansion in recent years as a result of the expanding global population and shifting consumer preferences. In the upcoming years, rising industrial demand for processed and ready-to-eat food products is expected to boost shipments of tomato concentrate.

Region with largest share:

Europe is expected to hold largest share throughout the forecast period. Most of the European cuisines that are becoming increasingly recognized around the world depend heavily on tomatoes. Future market expansion is also anticipated to be aided by the existence of a thriving food processing sector and rising fresh produce demand in European nations.

Region with highest CAGR:

North America is expected to witness lucrative growth throughout the projection period. The rising incidence of obesity and other chronic conditions in the United States has caused the population to place a greater emphasis on health and fitness, which has in turn increased demand for clean-label food products in the nation. As the demand for clean-label and organic food items rises, it is predicted that organic tomato concentrate will become more popular throughout the nation.

Key players in the market

Some of the key players in Tomato Concentrate market include Aditi Foods Pvt. Ltd, Bionaturae LLC, Capricorn Food Products India Ltd., Cento Fine Foods, China Kunyu Industrial Co., Ltd, Conagra Brands, Del Monte Foods Inc, Doehler Gmbh, Exotic Fruits Pvt. Ltd, Galla Foods, Kiril Mischeff Group, Los Gatos Tomatoes, Muir Glen Organic, Olam Spices & Vegetables Inc, PANOS brand, Riviana Foods Inc and Vigo Importing Co.

Key Developments:

In January 2023, Michael Angelo’s, a leading food producer inspired by Italian culinary traditions, announced that it was launching a new pasta sauce in 4 varieties. The sauces were made from naturally sweetened tomatoes by simmering them to achieve the perfect texture as Italians prefer for their sauces.

In November 2022, Erisco Foods Limited, a food product manufacturer and distributor based in Nigeria, announced the launch of ten new products in the Nigerian market. Ketchup, tomato puree, milk powder, and coffee mix are some of the products that were launched.

Products Covered:
• Triple Concentrate
• Single Concentrate
• Double Concentrate

Packaging Types Covered:
• Pouches
• Cans
• Bottles
• Carton Packaging

Sources Covered:
• Organic
• Conventional

Sales Channels Covered:
• Hypermarkets/Supermarkets
• E Commerce
• Convenience Stores

Applications Covered:
• Commercial
• Industrial
• Household
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements