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| Canned Tomato Market |
The global Canned Tomato Market is estimated to be valued at US$11.7 billion in 2020 and is expected to exhibit a CAGR of 5.3% over the forecast period 2021 to 2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Canned tomatoes are prepared by preserving freshly harvested tomatoes using a
canning process. These products provide several advantages, including long
shelf life, ease of use, and convenience. Canned tomatoes are widely used in
various cuisines, including Italian, Mexican, and Mediterranean. They serve as
a key ingredient in numerous dishes such as soups, sauces, stews, and
casseroles. The growing demand for convenient and long-lasting food products is
driving the market for canned tomatoes.
B) Market Key Trends:
One key trend driving the canned tomato market is the increasing adoption of
ready-to-eat and processed food products. With the rapid pace of modern
lifestyles, consumers are leaning towards convenient food options that save
time and effort in meal preparation. Canned tomatoes provide a quick and easy
solution for adding flavor and nutrition to dishes. For example, canned tomato
sauces can be directly used as pasta sauces or pizza toppings, eliminating the
need to prepare the sauce from scratch. This trend is particularly prominent
among urban consumers and working professionals.
C) PEST Analysis:
Political: Governments play a
significant role in regulating food safety standards and trade policies related
to canned tomatoes. Political stability and favorable regulations promote
market growth.
Economic: Fluctuations in raw
material prices, exchange rates, and consumer purchasing power can impact the
cost and affordability of canned tomatoes.
Social: Increasing consumer
awareness about the benefits of canned tomatoes, such as convenience and
nutritional value, is driving market growth.
Technological: Innovations in
canning technologies and packaging materials, such as BPA-free cans, are
enhancing the quality and safety of canned tomatoes.
D) Key Takeaways:
1. Market Size: The global Canned
Tomato Market is expected to witness high growth, exhibiting a CAGR of
5.3% over the forecast period. The increasing demand for convenient and
long-lasting food products is a major driver of this growth. Additionally, the expanding
urban population and changing dietary preferences are contributing to market
expansion.
2. Regional Analysis: North America is dominating the global canned tomato
market, followed by Europe and Asia Pacific. The market in North America is
driven by the high consumption of processed food products and the presence of
major players in the region. However, Asia Pacific is expected to witness the
fastest growth due to the increasing demand for ready-to-eat food products and
the rising urban population.
3. Key Players: The key players operating in the global canned tomato market
include Kronos Incorporated, Campbell, Libby’s Brand Holding, Del Monte,
B&G FOODS NORTH AMERICA, INC., Conagra Brands, KYKNOS, and Kraft Heinz Co.
These players focus on product innovation, expansion of distribution networks,
and strategic collaborations to strengthen their market position.
In conclusion, the global canned tomato market is witnessing significant growth
due to the rising demand for convenient and long-lasting food products.
Ready-to-eat and processed food trends, along with innovations in canning
technologies, are driving market expansion. North America currently dominates
the market, but Asia Pacific is projected to witness the fastest growth. Key
players in the market are investing in product development and strategic
partnerships to stay competitive.
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