Market Overview:
Canned tomatoes are processed tomatoes that are peeled, crushed, diced or whole packed in airtight containers and heat sterilized to prevent spoilage. Canned tomatoes offer advantages such as longer shelf life, availability throughout the year and easy to use convenience products.The demand for canned tomatoes is rising with increasing consumption of processed and packaged food products globally.
The global Canned Tomato Market is estimated to be valued at US$ 11.8 Bn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the canned tomato market is increased adoption of artificial intelligence and robotics in food processing plants. AI and robotics helps food manufacturers improve production efficiency, reduce costs and ensure high quality standards are met consistently. AI enabled machines can sort, peel, dice and pack tomatoes faster and more precisely than humans. This is allowing companies to scale up production and meet the rising global demand for canned tomato products. AI is fueling automation and modernization of the canned foods industry.
Segment Analysis
The global canned tomato market is segmented on the basis of type and application. Based on type, the market is segmented into diced tomatoes, tomato paste, tomato puree, whole/chunk tomatoes, and tomato sauce. The diced tomatoes segment accounted for the largest market share in 2022 and is expected to remain the dominant as well as the fastest growing segment during the forecast period. Diced tomatoes are widely used in various cuisines like Italian, Mexican, and others owing to their versatility and ease of use.
Key Takeaways
The Global Canned Tomato Market Size is expected to witness high growth, exhibiting a CAGR of 5.1% over the forecast period, due to increasing demand for convenience food products.
Regional analysis:
North America dominated the global canned tomato market in 2022 and is expected to maintain its dominance during the forecast period. The high consumption of canned tomatoes in countries like the US and Canada owing to its usage in various cuisines is the key factor driving the market in the region. Asia Pacific is expected to witness the highest growth rate during the forecast period owing to rising disposable incomes and changing food preferences in countries like China and India.
Key players:
Key players operating in the canned tomato market include Red Gold, The Morning Star Company, Del Monte Foods, and Conagra Brands. Red Gold is one of the leading players in the market, with strong distribution networks across various regions. The Morning Star Company specializes in plant-based foods and offers a wide range of canned tomato products.
For More Insights, Read: https://www.newsstatix.com/canned-tomato-market-size-share-and-growth-forecast-2023-2030/
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