Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Tomato Ketchup Market size is expected to reach $24.1 billion by 2028, rising at a market growth of 2.6% CAGR during the forecast period.
The Flavored segment is showcasing a CAGR of 3.2% during (2022 - 2028). The market will rise due to rising demand for flavored tomato ketchup, such as hot and spicy, organic, and roasted garlic. Furthermore, because of the increased propensity of consumers toward western food choices and changing dietary preferences, several manufacturers around the world are offering new products with varied flavors, propelling the segment.
The Bottled segment acquired maximum revenue share in the Global Tomato Ketchup Market by Packaging in 2021, thereby, achieving a market value of $13.1 billion by 2028. The market is expected to increase due to the rising popularity of bottled packaging due to its high sustainability and capacity to reduce waste. Furthermore, ketchup offered in bottles is practical, easy to handle, and store, all of which contribute to increased demand and consumption, as well as revenue generation.
Online market has shown growth rate of 5% during (2022 - 2028). Several of these manufacturers have products available on their websites and e-commerce platforms. Furthermore, in recent years, the internet penetration rate has increased significantly, resulting in tremendous growth in the e-commerce sector around the world.
The North America market dominated the Global Tomato Ketchup Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8 billion by 2028. The Europe market is estimated to witness a CAGR of 1.9% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 4.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/tomato-ketchup-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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