The global Ketchup Concentrates Market is expected to be valued at USD 532 million in 2023. The market is expected to expand at a CAGR of 4% over the forecast period to attain USD 799.6 million by 2033.
The growth of the ketchup concentrates industry can be attributed to consumers increasing inclination toward using fruit and vegetable ketchup in different dishes.
| Data Points | Key Statistics |
|---|---|
| Ketchup Concentrates Market Value (2023) | USD 532 million |
| Ketchup Concentrates Market Projected Value (2033) | USD 799.6 million |
| Ketchup Concentrates Market CAGR (2023 to 2033) | 4% |
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From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 2.1%. Diverse and exotic flavors in the sauces and condiments are expected to grow the market for ketchup concentrates in the forecast period among the manufacturers and surging demand among consumers.
Ketchup is widely enjoyed as a condiment in combination with several dishes, which is expected to increase its consumption globally.
Ketchup is usually produced from tomato concentrates or other fruit concentrates such as mango, peach, plum, blueberry, and other fruits.
Growing demand for ketchup in fast food services, as well as growing demand from the millennials with any dish across the globe, is expected to fuel the market growth of ketchup concentrates in the near future. The overall demand for ketchup concentrates is projected to register a CAGR of 4% between 2023 and 2033, totaling around USD 799.6 million by 2033.
Demand for Organic Food Products Likely to Augment Ketchup Concentrates Sales
Growing demand for organic food products is pushing the market revenue generation in the overall organic ketchup concentrates market soon.
Ketchup concentrate is one of the leading food and beverage categories. Increasing demand for convenient food products, the appetite it serves along with the fast food, and shifting consumers' trend toward clean label and organic food products are expected to contribute toward the market for ketchup concentrates over the forecast period.
Ketchup is a staple of traditional as well as modern food and is widely consumed by an increase in consumers across the globe, especially by the millennial population. Several variants of sauces are enjoyed and consumed by a large proportion of the population that, includes snack sauces, the hot and sweet sauces, which are pushing the ketchup concentrate manufacturers to bring new flavors into the marketplace.
The increasing popularity of international cuisines such as Thai, Italian, Mexican, and other foods is expected to also contribute to the demand for various ketchup variants. Thus, the market for ketchup concentrates over the forecast period.
The tomato concentrate product type segment is expected to hold a majority of the market shares in the global ketchup concentrates market, attributable to its better taste and widespread use in the food and beverages industry.
Health Concerns to Impede Growth
Ketchup concentrates are high in sugar. Thus, they are not favorable for a large group of people. In addition, its acidic nature and high salt content are creating an obstacle to market growth. Moreover, ketchup concentrates are packaged in plastics, making more waste. As consumers become more conscious, they invest in ketchup concentrate products that are packaged sustainably.
Fruit Ketchup Concentrates Driving Market Growth in North America
| Country | The United States |
|---|---|
| Market Share % (2022) | 19.8% |
The market for ketchup concentrates in North America is also expected to witness significant growth, mainly attributable to the increasing consumption of fruit ketchup in the region. Market growth of the overall food and beverages industry globally is pushing the revenue generation in the overall market for ketchup concentrates over the forecast period.
The increasing production of tomatoes in the region has made it easier for manufacturers to produce tomato ketchup. Thus, North America is expected to possess a 29.8% market share for ketchup concentrates in 2023.
Tomato Ketchups Contributing to Ketchup Concentrate Market Growth in Europe
| Attributes | Details |
|---|---|
| German Ketchup Concentrates Industry Share % (2022) | 9.9% |
| The United Kingdom’s Ketchup Concentrates Forecast CAGR % | 4.1% |
European countries have the highest rate of tomato consumption in the leading fresh vegetable crops category, with Germany, Spain, and France being the foremost countries in the per capita consumption of tomatoes. This is expected to fuel the use of tomato concentrate in the ketchup industry.
Most European people prefer using ketchup as condiments with fries, fried meat, and sausages. Thus, due to the aforementioned reasons, Europe is expected to hold a 34.5% market share for ketchup concentrates in 2023.
Westernization Influencing the Use of Ketchup Concentrates in Asia Pacific
| Country | China |
|---|---|
| Forecast CAGR % (2023 to 2033) | 3.4% |
| Country | India |
|---|---|
| Forecast CAGR % (2023 to 2033) | 5.4% |
Asia Pacific, leading with a large population base and majorly from the millennial population, westernization, allowing them to try new cooking dishes, new tastes, and flavor preferences, are all expected to grow the market for ketchup concentrate in the forecast period.
In addition, the rising new food innovations in the food industry and the urge among the millennial population toward cooking are allowing them to use new ingredients from the marketplace in the region. Thus, Asia Pacific is expected to procure a 27% market share for ketchup concentrates in 2023.
Some key players in the ketchup concentrate market are Wonderchup, Notpla, and Kazidomi.
Notpla has collaborated with Heinz Tomato Ketchup to produce a ketchup sachet for the takeaway industry. The company focuses on using sustainable packaging that disappears completely instead of single-use plastic.
Some prominent players in ketchup concentrates are Conagra Brands, Inc., General Mills, Inc., Heinz Wattie's Limited, Del Monte Food, Inc., Kerry Group Plc., Dohler Group, ABC Fruits, and various other regional manufacturers.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 532 million |
| Market Value in 2033 | USD 799.6 million |
| Growth Rate | CAGR of 4% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Nature, Product Type, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Argentina, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | Conagra Brands, Inc.; General Mills, Inc.; Heinz Wattie's Limited; Del Monte Food, Inc.; Kerry Group Plc.; Dohler group; ABC Fruits; J Sainsbury plc |
| Customization | Available Upon Request |
The market is projected to secure a valuation of USD 532 million in 2023.
The market is expected to reach USD 799.6 million by 2033.
The growth potential of the market is 4% CAGR through 2033.
Del Monte Food, Inc., Kerry Group Plc, and Dohler Group are the key manufacturers.
The market registered a 2.1% CAGR from 2018 to 2022.
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Ketchup Concentrates Market
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