The Global Canned Tomatoes Market size is expected to reach $14. 41 billion by 2027, rising at a market growth of 5. 6% CAGR during the forecast period. Canned tomatoes are referred to those tomatoes that are packaged in cans in order to increase their shelf life and ensure better handling.
New York, Dec. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Canned Tomatoes Market By Sales Channel, By Type, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06193296/?utm_source=GNW
Firstly, these tomatoes are picked from farms and sent to the canning manufacturing units, wherein, they sent for processing and packaging in cans for further distribution. There are various types of canned tomatoes available in the market including peeled and diced tomatoes as well as processed tomatoes in the form of sauces and purees. Most of these processed canned tomatoes are utilized for commercial purpose, but it is also heavily used in the residential cooking purpose for saving time. In addition, the shelf life of these canned tomatoes is high and they do not require refrigeration, which makes it more convenient for the consumers.
Factors like the high preference of consumers towards easy and convenient food products, increasing awareness among consumers regarding the negative effects of plastic-based food packaging, and the high adoption of a sustainable lifestyle are among the key factors fueling the growth of the canned tomatoes market during the forecast period. In addition, increasing spending of the consumers on ready-to-cook meals and canned food products like organic vegetables, seafood, fruits, and others, are some of the key aspects augmenting the growth of the market.
The majority of the end-user of these canned tomatoes are hotels, food trucks, cafes, pop-up restaurants, and others, which fall under the hospitality sector. These places have very tight schedules and have less time to make the ordered food within a certain time limit to deliver a seamless customer experience. Due to this, these places must maintain a considerable inventory of products utilized in cooking to eliminate any hindrances in operation.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has impacted various segments of the business domain. However, the canned tomato market was not very much impacted by the pandemic since they were categorized under essential items. The commercial sector has suffered a lot from the pandemic that has negatively impacted the demand for canned tomatoes from the commercial segment but this gap in demand has been filled by the residential sector since people have started to try out new dishes, which created a huge demand for canned tomatoes from the household sector.
There was an increase in the sales of canned tomatoes through an omnichannel approach during the pandemic and the growing trend of in-house cooking has also fueled the demand for canned tomatoes in the market during the initial phase of the pandemic. Therefore, the pandemic has had a positive impact on the canned tomatoes market.
Market Growth Factors:
Growing urbanization across the globe
The rapid urbanization across various nations is major factor responsible for the increased demand for packaged and canned products. The hectic schedules of consumers motivate them to use products that consume minimum time and offer more satisfaction. Due to this, the demand and growth of the canned tomatoes market would increase in the coming years. The shifting food patterns of the consumers have created more demand for canned tomatoes in the residential sector.
Rising number of commercial food outlets
With the changing lifestyle of the consumers, the trend of going out for lunch or dinner is becoming more common, which is creating more demand for commercial eating points, restaurants, and others. These commercial food points maintain their raw material stock for some days in order to fulfill their orders on time. Due to this, they would spend more on raw materials that have a high shelf life and are commonly used in almost every dish.
Market Restraining Factors:
Availability of various other packaging forms
There is a wide range of packaging formats used in the food and beverage industry. These formats include bottles, tetra packs, and paper bags, which are more sustainable. Due to the availability of other better formats of packaging than cans, consumers may shift towards those products. This shift is estimated to hamper the growth of the canned tomatoes market during the forecast period. Moreover, consumers are increasingly adopting products that cause less or no harm to the environment, which is motivating manufacturers to use other sustainable and eco-friendly packaging formats to fulfill this growing demand and thus, hindering the growth of the canned tomatoes market in the coming years.
Sales Channel Outlook
By sales channel, the canned tomatoes market is divided into online channels and offline channels. The online sales channel is estimated to showcase the highest growth rate over the forecast period.
On the basis of type, the canned tomatoes market is categorized into stewed tomatoes, diced tomatoes, whole peeled tomatoes, and others. The diced segment procured the highest share in the market in 2020. The other segment is estimated to display the highest growth rate over the forecast period.
End User Outlook
Based on end-user, the canned tomatoes market is bifurcated into the commercial and residential segments. In 2020, the residential segment dominated the market with the largest share.
Region-wise, the canned tomatoes market is analyzed across North America, Europe, Asia Pacific, and LAMEA. Europe emerged as the leading region in the canned tomatoes market with the highest market share in 2020. Asia Pacific region is projected to display the highest growth rate over the forecast period.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nestle S.A., Conagra Brands, Inc., General Mills, Inc., The Kraft Heinz Company, Unilever PLC, Del Monte Pacific Limited, Olam International Limited, Red Gold, Inc., The Morning Star Company, and Xinjiang Chalkis Co., Ltd.
Strategies Deployed in Canned Tomatoes Market
Oct-2021: Kraft Heinz took over Assan Foods, a rapidly growing sauces-focused business. This acquisition aimed to expand Kraft Heinz’s presence in key growth markets. Assan Foods’s product range would complement Kraft’s International Zone’s growth strategy focused on Taste Elevation, and expanding its presence across the world that holds a huge long-term opportunity for the company.
May-2021: Nestlé expanded its geographical footprint by investing USD 220 million in a new beverage factory in Indonesia. This expansion aimed to boost employment, to use local raw materials to the maximum, to provide the development for the Indonesian economy, and to make high-quality, nutritious food & beverage products, which would be safe and tasty for the consumers.
Apr-2021: Olam International took over Olde Thompson from private-equity firm Kainos Capital. This acquisition aimed to strengthen OFI’s growth strategy of being a global leader in offering natural, sustainable, value-added food and beverage ingredients & solutions.
Oct-2020: Nestlé took over Freshly, the US e-commerce meal-delivery firm. This acquisition aimed to add up to Nestlé’s portfolio and boost its capability to capitalize on the new realities in the US food market.
Nov-2019: Hunt’s, a brand of Conagra Brands launched a new San Marzano Style tomatoes. These tomatoes are the perfect starter for homemade pasta sauces as well as Italian dishes. In addition, Hunt’s San Marzano Style would bring delicious, all-natural flavour from the tomato fields of California.
Oct-2018: Conagra Brands acquired Pinnacle Foods, a packaged foods company. This acquisition aimed at Pinnacle’s frozen foods and snacks categories would make a huge opportunity for the company to further leverage its proven innovation approach, brand-building capabilities, and deep customer relationships.
Scope of the Study
Market Segments covered in the Report:
By Sales Channel
• Diced Tomatoes
• Whole Peeled Tomatoes
• Stewed Tomatoes and
• Other Types
By End User
• Commercial and
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Nestle S.A.
• Conagra Brands, Inc.
• General Mills, Inc.
• The Kraft Heinz Company
• Unilever PLC
• Del Monte Pacific Limited
• Olam International Limited
• Red Gold, Inc.
• The Morning Star Company
• Xinjiang Chalkis Co., Ltd.
• Exhaustive coverage
• Highest number of market tables and figures
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• Assured post sales research support with 10% customization free
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