Tomato Paste MarketIntroduction:
Tomato is one of the major vegetable crop grown worldwide.Tomato paste is a concentrated long shelf life product used as an importantfood ingredient worldwide. As per Food and Agriculture Organization (FAO) in2011, the global tomato production was approximately 130 million tons withChina and Europe as leading tomato producing regions currently. Other majortomato producers across the globe are India, U.S. and Turkey. Tomato paste isprepared by removing skin, pulp of tomatoes to create tomato juice which isthen concentrated generally by evaporation method in order to obtain a thickpaste. Tomato paste market is expected towitness significant market growth during the forecast period owing to itswidespread application in food industry.
Tomato Paste MarketSegmentation:
Increasing demand for organic tomato paste is expected to upliftthe global market revenues of tomatoes globally in the coming years. The globaltomato paste market is segmented into, product type, packaging type, area ofapplication, sales channels and by region. By product type, the globaltomato paste market is segmented on the basis of dry matter content into,single concentrate, double concentrate and triple concentrate. Doubleconcentrate is the most common type of tomato paste currently available in themarket. By packaging type the global tomato paste market is segmented into,cans, carton packaging, bottles and pouches. Cans are the preferred mode ofpackaging for tomato paste due to its convenient packing and to increase theshelf life of the tomato paste based products. By application the global tomatopaste market is segmented into, industrial, household and commercialapplications. In industrial application the tomato paste is widely used inmaking sauces, and in finished products such as, pizzas, soups jams and others.By sales channels the global tomato paste market is segmented into,hypermarkets/supermarkets, convenience stores, E-commerce and pother retailformats.
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Tomato Paste Market RegionalOutlook:
On the basis of region the global tomato paste market issegmented into, North America, Latin America, Western Europe, Eastern Europe,Asia Pacific excluding Japan, Japan and Middle East and Africa. NorthAmerica and Western Europe are expected to account for significant revenueshares in the global tomato paste market over the forecast period. In Europeancountries tomato is one of the most important vegetable consumed accounting foran approximate share of 19% as the largest fresh vegetable crop. Per capitatomato consumption is high in countries such as, Germany, Spain and France.Household use of tomato is increasing in countries such as China, India, Africaand U.S. where consumers use it for making several recipes thus, contributingtowards escalating market revenues of tomato over the forecast period. Tomatopaste manufactured in China enjoys great popularity in the world market becauseof its high quality. Also, growing manufacturer’s efforts to increasetheir tomato production capabilities is expected to fuel the tomato pastemarket growth over the forecast period.
Tomato Paste Market Driversand Trends
Growing demand for convenience food products, shift towardsorganic and clean label products and growing consumption of tomato paste isexpected to fuel the market revenue growth of tomato Paste market over theforecast period. Furthermore, growing demand for fresh tomatoes has contributedtowards its escalating production across the globe. For example, in the U.S.,California is the leading producer of tomato paste with fresh tomatoesproduction taking place across all the states in the region. Domestic tomatoproducers have recognized limited market opportunity in the global tomatobusiness hence, a number of new greenhouse/hydroponic operations have come online in several States over the past few years which will furtheraccelerate the tomato paste market growth in terms of value and value both.
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Tomato Paste Market KeyPlayers:
Some of the key players offering Tomato Paste include; ConagraBrands, Del Monte Foods, Inc., Olam Spices & Vegetables Inc., Los GatosTomatos, Cento Fine Foods, Muir Glen Organic, Vigo Importing Co., PANOS brands,Bionaturae, LLC and others.
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The study strives to evaluate the current and future growthprospects, untapped avenues, factors shaping their revenue potential, anddemand and consumption patterns in the global market by breaking it intoregion-wise assessment.
The following regional segments are covered comprehensively:
· North America
· Asia Pacific
· Europe
· Latin America
· The Middle East andAfrica
