Tomato Concentrate Market Size Worth $1.88 Billion By 2032 | CAGR: 5.4%

Tomato Concentrate Market Size Worth $1.88 Billion By 2032 | CAGR: 5.4%


The global tomato concentrate market size is expected to reach USD 1.88 billion by 2032, according to a new study by Polaris Market Research. The report “Tomato Concentrate Market Share, Size, Trends, Industry Analysis Report, By Product Type (Single Concentrate, Double Concentrate, and Triple Concentrate); By Packaging Type; By Application; By Sales Channel; By Region; Segment Forecast, 2019 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rapidly growing use of tomato paste and tomato purees in the food processing industry, as it offers wide range of benefits over several other forms of tomatoes including longer shelf life and higher nutritional values along with the growing product utilization in HORECA industry due to flexible ingredients which might be used in variety of cuisines, are prominent factors fostering the global market growth.

Additionally, the surging trend of convenience food especially among the millennials and implementation of market players on developing new products with enhanced properties, is also likely to create lucrative growth opportunities.

For instance, in January 2023, Michael Angelo’s, announced about the launch of its new pasta sauce in 4 different varieties including marinara, tomato basil, roasted garlic, and spicy marinara. The new tomato sauce made up from naturally sweetened tomatoes by simmering them to achieve perfect texture for the sauces.

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The rising prevalence for vertical integration and encompassing tomato cultivation, processing, and distribution which can provide control over the supply chain and ensure product quality, consistency, and cost-efficiency is gaining traction in the recent years. Moreover, growing focus of companies on developing strong relationships with farmers, implementing efficient logistics, and optimizing production processes can create opportunities for cost savings and provide a competitive advantage to the players operating in the market.

Tomato Concentrate Market Report Highlights

  • Double concentrate segment accounted for considerable market share in 2022, mainly due to its several beneficial characteristics including ease of transportation and longer shelf life
  • Cans segment is expected to grow at significant growth rate over the study period, on account of emergence as an effective way to preserve the nutritional values of product
  • Industrial segment is projected to hold substantial revenue share over the forecast period, owing to significant advances in tomato processing techniques making them suitable for various industrial applications
  • Hypermarkets & supermarkets segment led the industry market in 2022, which is mainly driven by availability of large range of products from different brands under one single roof
  • Europe region dominated the market with largest share in 2022, owing to robust growth in tomato manufacturing across the region and adoption of these products due to their high nutritional values
  • The global key market players include Olam Spices & Vegetables, Galla Foods, Conagra Foods, Cento Fine Foods, Del Monte Foods, and Riviana Foods

Polaris Market Research has segmented the tomato concentrate market report based on product type, packaging type, application, sales channel, and region:

Tomato Concentrate, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Single Concentrate
  • Double Concentrate
  • Triple Concentrate

Tomato Concentrate, Packaging Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Bottles
  • Pouches
  • Cans
  • Cartons

Tomato Concentrate, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Household
  • Industrial
  • Commercial

Tomato Concentrate, Sales Channel Outlook (Revenue - USD Billion, 2019 - 2032)

  • Convenience Stores
  • E-Commerce
  • Hypermarkets & Supermarkets
  • Others

Tomato Concentrate, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Tomato Concentrate Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 1.17 billion

Revenue forecast in 2032

USD 1.88 billion

CAGR

5.4% from 2023 – 2032

Base year

2022

Historical data

2019 – 2021

Forecast period

2023 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2023 to 2032

Segments covered

By Product Type, By Packaging Type, By Application, By Sales Channel, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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