The Global Tomato Ketchup Market
The global tomato ketchup market is segmented based on type (Regular, Flavoured & others), packaging (bottle, pouch & others), distribution channel (Supermarkets and Hypermarkets, Convenience Stores, Online Stores & Others), application (Household, Commercial & others) and geography (North America, Europe, Asia Pacific)
Introduction
The tomato ketchup market is a contributing segment of the global sauces, dressings and condiments market. From a top-down perspective, Strategy Here has analyzed the global sauces, dressings and condiments market as a parent market to set the context in which the global tomato ketchup market will be analyzed.
Tomato ketchup is one of the commonly used condiments globally. It contains tomatoes, sugar, spices and vinegar. It is often used to compliment other foods such as French fries.
Tomato ketchup companies have expanded their product lines by offering ketchup in pouches, squeezee packs, sachets, bottles etc.
Most tomato ketchups come in a variety of flavours. Apart from consumption by retail consumers, it is also extensively used in the food industry as it is a staple with most fast food.
Table of Contents
Market Overview
The global tomato ketchup market is expected to grow to USD 32844 million by 2025
Growth momentum is expected to accelerate during the forecast period with a 2.4% CAGR.
The tomato ketchup market is registering growth due to its application in the food industry.
North America is expected to be the largest market for tomato ketchup.
Key Trends
Organic ketchup will see growth in the coming years as more consumers are inclined to purchase food items with healthy and natural ingredients.
Flavoured ketchup is likely to see growth as fast food chains look to experiment with their traditional dishes using ketchup. For example, Filipino chain Jollibee uses Banana ketchup in its spaghetti, hot dogs, grated cheese etc.
Smoky ketchup is also a trend that is catching on as it is offered by some restaurants as a dipping sauce
Key Market Players
Some of the leading players in the ketchup market are Campbell Soup Company, Conagra Brands Inc, Del Monte Food Inc., General Mills Inc., Lee Kum Kee Company Limited, Nestle S.A., Premier Foods plc, Sky Valley & Organicville (Litehouse Inc.), Tate & Lyle plc and The Kraft Heinz Company and Unilever Plc.
The market players are investing in promotional activities, expansion of sales outlets, and are entering into strategic partnerships with prominent retailers to cater to growing demand from consumers.
Growth Drivers and Challenges
A major driver of growth of the tomato ketchup market is the growth of the food and beverage industry. Rising number of outlets of major fast-food companies has led to this increase.
The demand from hotels and restaurants has also increased as most guests enjoy consuming ketchup with their food
The adoption of western food habits by developing countries is also driving growth in this market. As Asians embrace western cuisines, ketchup becomes one of the main condiments consumed
Exports of tomato ketchup declined in the first months of 2019 due to disagreements between Canada, the largest importer of ketchup and the US.
Millennials are moving towards the consumption of fresh products, organic and superfood, which is reducing the demand for food from fast food restaurants and thereby ketchup.
Another challenge is that people shopping for price end up buying own label over the branded ketchup since it is cheaper.