Tomato canned foods market poised to capitalize on growing demand for convenience foods

 

canned tomato market

The canned tomato market is anticipated to witness growth owing to rising demand for convenience foods. Tomatoes are a rich source of antioxidants like lycopene and vitamins which make them a popular ingredient used in sauces, soups, and other food items. Canned tomatoes offer various advantages like longer shelf life without refrigeration, accessibility during off-seasons, and versatility of usages. Their ease of preparation and storage benefit busy consumers leading to higher product adoption.

The global canned tomato market is estimated to be valued at US$ 13.6 Bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period of 2024 to 2031.

Canned Tomato Market Demand are used in various ways like making pasta sauces, pizzas or directly as a side dish and the on-the-go convenience factor has led to increased demand.

Key Takeaways

Key players operating in the canned tomato market are Honeywell International Inc., United Technologies Corporation, Crestron Electronics, Inc., Cisco Systems, Inc., Ingersoll-Rand PLC, Schneider Electric SE., Johnson Controls Inc., Acuity Brands, Inc., ADT Corporation, and Control4 Corporation.

Key opportunities in the canned tomato market include product innovation to cater to changing taste preferences such as new flavours and variety of dishes featuring canned tomatoes. Companies are also focusing on sustainability and have introduced BPA-free cans and plant-based packaging to attract health-conscious consumers.

Globally, canned tomato companies are expanding to emerging economies in Asia Pacific and Latin America. Favorable policies, growing disposable incomes and rising health awareness are driving the market in these regions. Partnerships with local food brands and retailers aids geographical expansion.

Market Drivers
- Increased demand for convenience foods due to busy lifestyles and ease of preparing dishes using canned tomatoes saves time.

Market Restraints

- Perception of cans containing BPA which is harmful for health limits growth potential of canned tomato market to some extent.

Segment Analysis

The canned tomato market can be segmented by type - diced tomatoes, tomato sauce, tomato paste, whole peeled tomatoes, and others. The diced tomato segment currently dominates the market owing to widespread application in foods like pizzas, pastas, soups, and more. Diced tomatoes provide greater versatility to recipes and are also easier and faster to use. This makes them a preferred choice for both retail consumers as well as commercial users.

Global Analysis

North America currently holds the largest share of the canned tomato market and is expected to maintain dominance over the forecast period. This is attributable to growing health awareness and increasing demand for convenience foods in countries like US and Canada. Europe holds the second largest market share due to high consumption of processed tomato products in Italian and Spanish cuisines. Asia Pacific is expected to witness the fastest growth led by China and India. Changing lifestyles, rising disposable incomes, and growth of the food processing industry are propelling market expansion in the region. Latin America and Middle East & Africa also present untapped opportunities for canned tomato market players over the coming years.

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About Author:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

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