The Asia Pacific Tomato Ketchup Market would witness market growth of 4.3% CAGR during the forecast period (2022-2028).
Many fast food franchisees today recognize the importance of diversifying revenue streams more than ever before. This happened because when COVID-19 forced eateries across the country to close their doors, the businesses that were best positioned to succeed were those that could provide their clients with a variety of options. At-home meal kits were one such option, a combination of dining out and ordering in that saw restaurant-quality ingredients transformed into dinners that could be enjoyed at home. This hybrid industry's expansion is predicted to continue far into 2022.
Unripe tomatoes were originally used, necessitating the inclusion of a preservative called sodium benzoate to avoid rotting and flavor loss. However, the FDA outlawed the use of this addition in the early 1900s, and Heinz began manufacturing ketchup with ripe tomatoes, which include more of the organic preservative pectin, and sugar and vinegar. Due to the higher pectin content, the ketchup was thicker than the prior watery form.
During the projected period, the regional fast food industry is expected to develop due to the high demand for fast food items and the rising demand for international cuisines. Furthermore, increased consumer disposable income and the huge popularity of fast-casual restaurants would boost demand and growth in the fast food sector. Due to its convenience and taste, fast food is increasing in popularity among customers, which will drive the regional fast food industry forward over the projection period. Furthermore, changing customer demands and eating habits would propel the regional fast food industry forward over the projection period. The region's need for tomato ketchup is expected to rise in the coming months as the fast food business grows.
The China market dominated the Asia Pacific Tomato Ketchup Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,154.4 million by 2028. The Japan market is anticipated to grow at a CAGR of 3.6% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 5% during (2022 - 2028).
Based on Product Type, the market is segmented into Regular and Flavored. Based on Packaging, the market is segmented into Bottled and Pouch. Based on Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Tomato Ketchup Market is Projected to reach USD 24.1 Billion by 2028, at a CAGR of 2.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include McCormick & Company, Inc., Conagra Brands, Inc., Nestle S.A., The Kraft Heinz Company, Unilever PLC, Del Monte Pacific Limited, Bolton Group S.r.l, Campbell Soup Company, General Mills, Inc., and Premier Foods PLC.
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