According to a new report published by Allied Market Research, titled, “Canned Tomatoes Market by Type, End User and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global canned tomatoes market size was valued at $11.7 billion in 2020, and is projected reach $19.5 billion by 2030, registering a CAGR of 5.3% from 2021 to 2030.
The hospitality sector consists of establishments such as hotels, restaurants, cafes, food trucks, pop up restaurants, and many others. These establishments work on tight schedules and need to prepare and deliver food quickly to provide seamless customer experience. As a result, these establishments needs to keep significant level of inventory used for cooking in stock to avoid abrupt ceasing of operations. As a result, most of these establishments make use of canned and packaged food that have long shelf lives along with food that need to be stocked daily, thus boosting the canned tomatoes market growth. Canned tomatoes are also stored in large quantities by these establishments as tomato is a very versatile ingredient in cooking and gastronomy and has use in a myriad of cuisines. Thus, high purchase quantity of canned tomatoes by the hospitality industry is boosting the canned tomatoes market significantly.
Canned food are very popular in many parts of the world. However, a new type of food packaging, called aseptic packaging is gaining more popularity in the market. Aseptic packaging is a process in which the food is sterilized outside the package using suitable processes and is then packed in a sterile and safe environment. It eliminates most of the bacteria in the food and helps increase the shelf life of the food, similar to the canning process. However, aseptic packaging is more environmentally friendly than canning. This is because aseptic packaging makes use of paper and cartons for packaging that are biodegradable and more environmentally sustainable than cans. Also, tomatoes are now available in aseptic packaging, which provides tough competition to canned tomatoes. With increasing preference towards aseptic packaging the demand canned tomatoes industry is expected to be negatively impacted.
The global canned tomatoes market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe is the largest consumer of canned tomatoes in the world with more than fifty percent market share, and is closely followed by North America. Asia-Pacific provides high growth opportunities due to rapidly increasing middle class population and growing product awareness.
The global report is studied on the basis of type, end user, sales channel, and region. Based on type, the global market is classified into whole peeled tomatoes, diced tomatoes, stewed tomatoes, and others. Based on end user, it is bifurcated into residential and commercial. Based on sales channel the global market is studied across offline channels and online channels. The global market is also studied across North America, Europe, Asia Pacific and LAMEA.
Key Findings Of The Study
- By type, the diced canned tomatoes leads in terms of market share however, the others canned tomatoes are expected to grow with the highest CAGR during the canned tomatoes market forecast period.
- By end user, the residential segment leads in terms of market share, however the commercial segment is poised to gain market share in the coming years.
- Significant portion of canned tomato sales are attributed to offline channels. The online sales of canned tomatoes is now gaining traction and is poised to grow with highest CAGR during the forecast period.
- The Europe region leads with more than half of the canned tomatoes market share; however, the Asia-Pacific region is expected to witness the highest growth during the forecast period.
Some of the major players profiled in the canned tomatoes market analysis include Conagra brands, Del Monte Foods Holding Limited and Subsidiaries, DeMatteis, General Mills, Inc., Kraft Heinz Company, Nestle S.A., Princes Limited, Red Gold, Sun-Brite Foods Inc., and Unilever Plc. Other prominent players analyzed in the report are The Morning Star Company, COFCO Tunhe Tomato Co., Ltd., Xinjiang Chalkis Company Ltd, Ingomar Packing Co, Olam International, Los Gatos Tomato Products, and China Haohan Group Limited