IMARC Group’s latest report, titled “Tomato Processing Market – Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue”, finds that the global tomato processing market reached a volume of around 37 Million Tons in 2016, declining at a CAGR of nearly 2% during 2009-2016. This happened as production level in 2009 exceeded the worldwide consumption level and generated large stocks which have continued to feed the market.
Despite being berry-fruits, tomatoes are consumed all over the world as culinary vegetables. They are considered a functional food item as they are a rich source of vitamins A, C, potassium, minerals, antioxidants and fibres. Tomatoes help in preventing and controlling a number of ailments such as cancer, cardio-vascular diseases, diabetes, constipation and depression. In addition, they are also beneficial in maintaining a healthy blood pressure and improving vision.
Highlights of the Global Tomato Processing Market:
- Growing fast-food industry and emerging regions remain the primary growth driving factors.
- On the basis of end-use, sauces represent the largest market.
- United States holds the majority of the global share in terms of consumption.
Increasing demand for ready-to-eat food products has facilitated the demand for tomato products as they are one of the most important ingredients used in taste makers and flavour enhancers. Various processed tomato products such as sauces and ketchups are used with popular fast food items including French fries, burgers and hotdogs, resulting in a strong demand from the fast-food sector. Moreover, innovations in the packaging technology has led to their increased shelf-life and safe distribution in remote areas, thus boosting the growth of the global tomato processing market. Some of the other factors that have incited the market growth are rising disposable incomes, urbanisation, changing lifestyles and a strong demand from emerging markets. According to the report, the market is further expected to reach a volume of more than 47 Million Tons by 2022.
The market has been segmented on the basis of end-use. Currently, sauces hold the largest share in the global market. While the United States represents the biggest consumer of processed tomatoes, other major markets include Italy, China, Turkey and Iran. Some of the key players operating in the market are Morning Star, COFCO Tunhe, Xinjiang Chalkis Tomato, Ingoma Packaging CO and JG Boswell.
The report has examined the global tomato processing market on the basis of:
- Canned Tomatoes
- Morning Star
- COFCO Tunhe
- Xinjiang Chalkis Tomato
- Ingomar Packaging CO
- JG Boswell
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