Tomato Paste Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 06/29/2018 -- Tomato is one of the major vegetable crop grown worldwide. Tomato paste is a concentrated long shelf life product used as an important food ingredient worldwide. As per Food and Agriculture Organization (FAO) in 2011, the global tomato production was approximately 130 million tons with China and Europe as leading tomato producing regions currently. Other major tomato producers across the globe are India, U.S. and Turkey. Tomato paste is prepared by removing skin, pulp of tomatoes to create tomato juice which is then concentrated generally by evaporation method in order to obtain a thick paste. Tomato paste market is expected to witness significant market growth during the forecast period owing to its widespread application in food industry.
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Increasing demand for organic tomato paste is expected to uplift the global market revenues of tomatoes globally in the coming years. The global tomato paste market is segmented into, product type, packaging type, area of application, sales channels and by region. By product type, the global tomato paste market is segmented on the basis of dry matter content into, single concentrate, double concentrate and triple concentrate. Double concentrate is the most common type of tomato paste currently available in the market. By packaging type the global tomato paste market is segmented into, cans, carton packaging, bottles and pouches. Cans are the preferred mode of packaging for tomato paste due to its convenient packing and to increase the shelf life of the tomato paste based products. By application the global tomato paste market is segmented into, industrial, household and commercial applications. In industrial application the tomato paste is widely used in making 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 retail formats.
Growing demand for convenience food products, shift towards organic and clean label products and growing consumption of tomato paste is expected to fuel the market revenue growth of tomato Paste market over the forecast period. Furthermore, growing demand for fresh tomatoes has contributed towards its escalating production across the globe. For example, in the U.S., California is the leading producer of tomato paste with fresh tomatoes production taking place across all the states in the region. Domestic tomato producers have recognized limited market opportunity in the global tomato business hence, a number of new greenhouse/hydroponic operations have come online in several States over the past few years which will further accelerate the tomato paste market growth in terms of value and value both.
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Some of the key players offering Tomato Paste include; Conagra Brands, Del Monte Foods, Inc., Olam Spices & Vegetables Inc., Los Gatos Tomatos, Cento Fine Foods, Muir Glen Organic, Vigo Importing Co., PANOS brands, Bionaturae, LLC and others.