In 2032, the ketchup concentrates market is projected to be worth US$512 Million. Customers’ growing propensity to use fruit and vegetable ketchup in various cuisines can be attributable to the market growth for ketchup concentrates.
Ketchup are 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 millennial with any dish across the globe, is expected to fuel the market growth of ketchup concentrates in the near future.
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Market Segmentation
Ketchup Concentrates market can be segmented on the basis of nature, product type, distribution channel, and region.
On the basis of nature, Ketchup Concentrates Market can be segmented into natural, organic and conventional. Growing demand for organic food products is pushing the market revenues generation in the overall organic ketchup concentrates market in the near future.
On the basis of product type, Ketchup Concentrates market can be segmented into tomato concentrate, mango concentrate, peach concentrate, blueberry concentrate and other concentrate segments. 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.
On the basis of the distribution channel, Ketchup Concentrates market can be segmented into direct and retail sales. Direct sales refer to direct selling of Ketchup Concentrates as an ingredient to the food industry. Retail sales are further segmented into hypermarket/supermarket, convenience stores, and online retailers.
Drivers, Restraints, and Trends
Ketchup concentrate is one of the largest categories in the food and beverages industry. Increasing demand for convenient food products, the appetite it serves along with the fast food and shifting consumers trend towards clean label and organic food products are expected to contribute towards the market for ketchup concentrates over the forecast period.
Ketchup is a staple with traditional as well as modern food and is widely consumed among increasing number of consumers across the globe, especially from the millennial population. Several variants of sauces are enjoyed and consumed among a large proportion of the population which includes snacks sauce, the hot and sweet sauce which is pushing the ketchup concentrate manufacturers to bring new flavors in the marketplace.
Furthermore, increasing popularity of international cuisines such as Thai, Italian, Mexican and other foods will also contribute towards the demand for various ketchup variants thus the market for ketchup concentrates over the forecast period.
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The rising new food innovations in the food industry and the urge among millennial population towards cooking is allowing them to use new ingredients from the marketplace.
Regional Outlook
North America and Western Europe are two prominent regions in the global ketchup concentrate market. European countries have the highest rate of tomato consumption in the largest 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.
Furthermore, the market for ketchup concentrate in North America is also expected to witness significant growth mainly attributable to increasing consumption of fruit ketchup in the region. Market growth of overall food and beverages industry across the globe is pushing the market revenue generation in the overall market for Ketchup Concentrates over the forecast period.
Asia Pacific, leading with a large population base and majorly from millennial population, westernization, allowing them to try new cooking dishes, new taste and flavor preferences is all expected to grow the market for ketchup concentrate in the forecasted period.
Key Players
Some of the prominent players of Ketchup Concentrates are Conagra Brands, Inc., General Mills, Inc., Heinz Wattie’s Limited, Del Monte Food, Inc., Kerry Group Plc., Dohler group, ABC Fruits, J Sainsbury plc and various other regional manufacturers.
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The report covers exhaust analysis on
- Market Segments
- Market Dynamics
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
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