by Canned tomatoes are commercially prepared tomatoes that remain fresh for extended shelf life without refrigeration. Canned tomatoes contain key nutrients like lycopene, vitamins and minerals essential for well-being.
The global Canned Tomato Market is estimated to be valued at US$ 11.8 billion in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing health consciousness among consumers regarding the nutritional benefits of tomatoes has been a key driver for the canned tomato market. Tomatoes are an excellent source of lycopene antioxidant which supports heart and eye health. Research proving the nutritive value of canned tomatoes have increased their popularity as a convenience cooking ingredient. Canned tomato consumption allows incorporating tomatoes into daily diet easily.
SWOT Analysis
Strength: Canned tomatoes have a longer shelf life compared to fresh tomatoes. They are available throughout the year.
Weakness: Canned tomatoes have a inferior taste and texture compared to fresh tomatoes. They contain high amounts of sodium.
Opportunity: Rising health consciousness is increasing the demand for organic and low-sodium canned tomato products. Increasing demand for convenience food also presents an opportunity.
Threats: Fluctuations in raw material price can increase the price of canned tomatoes affecting demand. Changing consumer preference towards fresh produce is also a threat.
Key Takeaways
The Global Canned Tomato Market Size is expected to witness high growth.
Regional analysis: The North America region currently dominates the canned tomato market due to high consumption. The Asia Pacific region is expected to grow at a faster pace during the forecast period due to rising incomes and western influence on diets in nations like India and China.
Key players operating in the canned tomato market are Honeywell International Inc., United Technologies Corporation, Crestron Electronics, Inc., Cisco Systems, Inc., Ingersoll-Rand PLC, Schneider Electric SE., Johnson Controls Inc., Acuity Brands, Inc., ADT Corporation, Control4 Corporation, and Others. Rising health awareness has led to increased demand for organic and low-sodium canned tomato products providing opportunities for both large conglomerates as well as smaller players focused on niche segments. Strategic partnerships with retailers and import/export agreements with farmers would help players strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
