“Global Canned Peeled Tomatoes Market to reach a market value of USD 5.5 Billion by 2030 growing at a CAGR of 5.3%”
The Global Canned Peeled Tomatoes Market size is expected to reach $5.5 billion by 2030, rising at a market growth of 5.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 963.1 kilo tonnes, experiencing a growth of 4.9% (2019-2022).
Diced tomatoes offer convenience to consumers and food service operators as they are pre-cut into uniform pieces, eliminating the need for additional preparation. Thus, the Diced tomatoes segment generated Diced tomatoes generated 36.9% revenue share in the market 2022. This saves time and effort in the kitchen, making diced tomatoes a popular choice for busy individuals and professional chefs. In addition, diced tomatoes provide consistency in texture and flavor, as they are uniformly cut and processed.
Modern lifestyles have become increasingly hectic, with individuals juggling work, family responsibilities, and various other commitments. Consequently, there is an increasing need for quick-to-prepare meals that are handy and require little effort. Canned peeled tomatoes offer a convenient ingredient for numerous recipes.
Additionally, according to the source mentioned above, the food service industry in India is projected to reach $125.06 billion by 2029, growing at a rate of 10.21 percent from its predicted $69.7 billion valuation in 2023. Also, food service operators leverage canned peeled tomatoes to add flavor, color, and texture to their menus, allowing them to offer diverse and appealing dishes.
However, Fresh tomatoes are highly susceptible to seasonal fluctuations in supply and demand. Factors such as weather conditions, including temperature, rainfall, and sunlight, can significantly impact tomato yields and harvest timings. During periods of abundant supply, such as the peak harvest season, tomato prices may decrease due to oversupply. In conclusion, the price volatility of raw materials is impeding the market’s growth.
Based on sales channel, the market is categorized into online and offline. In 2022, the offline segment registered 78.4% revenue share in the market. Hypermarkets and supermarkets, specialty stores, convenience stores, and other small retail stores all fall within the offline segment.
On the basis of end user, the market is segmented into residential and commercial. In 2022, the commercial segment attained 35.5% revenue share in the market. In terms of volume the commercial segment attained 359.7 kilo tonnes, in the market 2022. The expanding food service industry, including restaurants, cafeterias, catering companies.
Based on type, the market is divided into whole peeled tomatoes, diced tomatoes, crushed tomatoes, pureed tomatoes, and others. In 2022, the pureed tomatoes segment held 10.4% revenue share in the market. Pureed tomatoes are often used as a base for various sauces, including marinara sauce, pizza sauce, and pasta sauce.
Free Valuable Insights: Global Canned Peeled Tomatoes Market size to reach USD 5.5 Billion by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region generated 29.2% revenue share in the market. Western cuisine is growing in the region, with an increasing number of consumers incorporating.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 3.7 Billion |
| Market size forecast in 2030 | USD 5.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.3% from 2023 to 2030 |
| Number of Pages | 317 |
| Number of Table | 690 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Sales Channel, Type, End User, Region |
| Country scope |
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| Companies Included | Conagra Brands, Inc., Del Monte Foods Private Limited (Del Monte Pacific Limited) (Bharti Enterprises), LDH (La Doria) Ltd., The Kraft Heinz Company, B&G Foods, Inc. (Bruckman, Rosser, Sherrill & Co.), General Mills, Inc., Unilever PLC, Nestle S.A., Cento Fine Foods, Inc., The Pastene Companies, Ltd. |
By Sales Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End User (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
The Market size is projected to reach USD $5.5 billion by 2030.
Impact of growing retail channels are driving the Market in coming years, however, Price volatility of raw materials restraints the growth of the Market.
Conagra Brands, Inc., Del Monte Foods Private Limited (Del Monte Pacific Limited) (Bharti Enterprises), LDH (La Doria) Ltd., The Kraft Heinz Company, B&G Foods, Inc. (Bruckman, Rosser, Sherrill & Co.), General Mills, Inc., Unilever PLC, Nestle S.A., Cento Fine Foods, Inc., The Pastene Companies, Ltd.
The expected CAGR of this Market is 5.3% from 2023 to 2030.
The Residential segment is leading the Market by End User in 2022; thereby, achieving a market value of $3.4 billion by 2030.
The Europe region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.2 billion by 2030.
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