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Global Tomato Processing Market to Reach 48 Million Tons by 2023

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Global Tomato Processing Market to Reach 48 Million Tons by 2023

The global tomato processing market has experienced a healthy growth over the past several years.This can be accredited to the changing lifestyle and increasing spending power of the consumerscoupled with the innovative product packaging.

Tomatoes are rich source of potassium, minerals, vitamin A, vitamin C and fibres owing to which theyare considered as a vital food crop. The majority of tomatoes are freshly consumed while the leftoveris used by the tomato processing industry. Tomatoes are extensively used in households, fast foodjoints, hotels, restaurants and food processing industries to prepare purees, soups, ketchups, pickles,juices, sauces, etc. A new research report by IMARC Group, titled “Tomato Processing Market: GlobalIndustry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that themarket crossed the volume of 38.9 Million Tons in 2017. The report further anticipates the market toreach a volume of 48 Million Tons by 2023, at a projected CAGR of 3.7% over the forecast period.

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Global Tomato Processing Market Drivers/Constraints:

• The growing preference for fast food, especially by the young generation, has resulted in theincreasing demand for processed tomato products such as ketchup and sauces. This is furtherexpected to spur the growth of the tomato processing market across the globe.

• The unique packaging techniques offered by the manufacturers have resulted in safe distributionand a longer shelf-life of tomato-based products. This has positively influenced the growth ofglobal tomato processing market.

• Some of the other factors contributing to the growth of global tomato processing market arechanging dietary habits, rapid urbanisation, population growth, rising disposable income and theaccelerated demand from the emerging market.

• However, tomato contains lycopene compounds which can also aggravate the symptoms ofstomach ulcers and other health issues if consumed in high amounts. This is anticipated tohamper the growth of the tomato processing industry.

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Product Type Insights:

On the basis of product type, the market is segmented into sauces, pastes, canned tomatoes, ketchups andjuices. Currently, sauces account for nearly a third of the total processed tomato consumption, representingthe most popular product type.

Regional Insights:

On the basis of geography, the United States currently represents the largest market for tomato processingindustry due to the high consumption of processed tomatoes in the form of sauces, juice and tomato paste.

Other major countries include Italy, China, Turkey, Iran, Spain and Brazil.

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Competitive Landscape:The market is highly fragmented with the presence of numerous small and large manufacturers whocompete in terms of price, quality, production and geographical reach. Some of the leading players operatingin the market are:• Morning Star• Tunhe• Chalkis• Ingomar Packing• JG Boswell.

Browse more related reports:

Cocoa Processing Market: https://www.imarcgroup.com/cocoa-processing-plant

Cassava Processing Market: https://www.imarcgroup.com/cassava-processing-plant

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