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The global tomato processing market is being driven by the increasing per-capita consumption of processed tomatoes globally. The market is being aided by the overall growth in the consumption of processed foods and beverages many of which contain processed tomatoes as an ingredient. Ketchup, especially, is a growing condiment sector which is witnessing a rising demand. Sauces are the largest application sector for processed tomatoes, accounting for 30% of their overall applications. The global consumption of tomato-based sauces was close to 41.52million tons in 2020.
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The growth in tomato production and improving varieties of tomatoes is also driving the market growth. The global production of tomatoes reached 41.52 million tons in 2020. Their production is projected to grow further in the forecast period of 2021-2026 at a CAGR of 3.8% to attain 51.93 million tons in 2026. The world trade of tomatoes mostly involves the trade of processed products like purees, sauces, tinned tomatoes, and pastes, among others. Thus, the increase in the production of processed goods is also aiding the growth of the tomato trade.
The Asia Pacific is the largest producer of tomatoes, globally, accounting for nearly half the global tomato output. China and India are their leading producers, not just in the region, but also the world. The increase in the tomato processing capacity of China is a major driving factor for the tomato processing market. The adoption of good cultural practices along with the high demand for tomatoes in countries like India and China is driving the market for both fresh and processed tomatoes. The United States, however, is the largest tomato processing market in the world representing more than 35% of the market. In 2017, about 22 million pounds of tomatoes were processed in the country, and accounted for 70% of the total processed vegetables in the country. Italy is another significant market in the industry with the domestic demand for processed tomatoes intrinsically linked to the traditional food being consumed.
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The Morning Star Company, COFCO Tunhe Tomato Co., Ltd., Xinjiang Chalkis Tomato Products Co.,ltd, Ingomar Packing Company, J.G. Bosewell Tomato Co.ltd, Conagra Brands, Inc, Conserve Italia Soc. Coop. Agricola, Olam International Limited, Los Gatos Tomato, Inc., China Haohan Group Limited, and The Campbell Soup Company are the key players in the global tomato processing market as identified by the EMR report. The report by EMR covers their market share, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds.
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