Tomato Puree Market Size Projected to Reach $7.7 Billion by 2032 With CAGR of 4.1%

The tomato puree market was valued at $5.2 billion in 2022, and is estimated to reach $7.7 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.

WILMINGTON, DELAWARE, UNITED STATES, April 17, 2024 /EINPresswire.com/ -- Tomato puree is a thick liquid or paste made by cooking and straining tomatoes to remove seeds and skins. It is a concentrated form of tomatoes that retains the rich flavor and vibrant color of the tomatoes. In the process of making tomato puree, tomatoes are first blanched for easy skin removal and then crushed or blended to achieve a smooth consistency. The resulting puree is further used as a base for sauces, soups, stews, and various culinary dishes. It is a convenient ingredient for adding the essence of tomatoes to recipes without the use of whole tomatoes in various food applications. It is commonly available in cans or jars in retail stores, and it is a versatile kitchen staple in many cuisines globally.

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The increase in demand for processed food has emerged as a significant driver for the tomato puree industry growth. As consumer lifestyles continue to evolve, there is a rise in preference for convenient and time-saving food options. Processed foods, which often incorporate tomato puree as a key ingredient, offer quick and easy meal solutions for individuals with busy schedules. Tomato puree serves as a versatile base for a variety of processed food products, including sauces, soups, ready-made meals, and snacks. Its use in these products enhances flavor and contributes to the rich color and nutritional content associated with tomatoes. The versatile application of tomato puree aligns well with the diverse range of processed foods available on the market, which is expected to increase the demand for tomato puree during the tomato puree market analysis. Moreover, the health-conscious consumer trend has further fueled the demand for processed foods that maintain a balance between convenience and nutritional value. Tomato puree, being a good source of vitamins, antioxidants, and lycopene, adds a healthful component to processed food products. This health-conscious approach encourages manufacturers to incorporate tomato puree into their formulations, catering to the demand for both taste and nutritional benefits. The convenience factor, coupled with the nutritional profile of tomato puree, positions it as a sought-after ingredient in the processed food industry. As a result, the tomato puree market is expected to experience growth alongside the expanding market for processed foods, driven by the changing preferences and lifestyles of consumers globally.

Although the tomato puree market has shown significant growth, it still faces certain challenges due to the fluctuation in the prices of tomatoes. Tomatoes are seasonal crops, and their prices fluctuate based on seasonal changes in supply. A poor harvest due to unfavorable weather conditions, such as droughts or excessive rainfall, lead to reduced tomato yields and increased prices. Moreover, the tomato market is subject to global trade dynamics. Trade disputes, transportation issues, or disruptions in the supply chain have led to fluctuations in tomato prices, directly affecting the cost structure of tomato puree production.

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Tomato puree producers depend on a stable and predictable supply of tomatoes for their operations. Since tomato puree is derived from fresh tomatoes, changes in the cost of raw tomatoes have a direct influence on the production cost of tomato puree. Fluctuating tomato prices lead to variations in production costs, impacting the overall cost structure of tomato puree. A sudden increase in tomato prices results in increased production expenses, affecting profit margins of the manufacturers. Thus, it has high potential to affect the tomato puree market growth, along with affecting tomato puree market share in coming years.

Moreover, there are numerous opportunities in the tomato puree market with an increase in demand for organic tomato puree products. With the introduction of various organic or flavored varieties of tomato purees, producers are expected to tap into evolving consumer preferences for healthier and more diverse food options. Organic tomato puree caters to the increasing demand for natural and sustainably produced products, thus setting a tomato puree market trends in coming years. With a focus on pesticide-free cultivation and environmentally friendly practices, organic tomato puree appeals to health-conscious consumers looking for cleaner and more eco-friendly food choices. Moreover, continuous innovation in tomato puree products is one of the key strategy in tomato puree market opportunities to attract new consumer segments and differentiating producers in the market, which is anticipated to help in increasing the tomato puree market size during the tomato puree market forecast.

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The tomato puree market is segmented on the basis of nature, packaging, application, distribution channel, and region. By nature, the market is bifurcated into organic and conventional. By packaging, the market is categorized into glass jar, tin, and others. By application, the market is divided into food & beverage industry, food service industry, and retail. Depending on distribution channel, it is classified into B2B, supermarkets/hypermarkets, convenience stores, departmental stores, and online sales channel. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Italy, Spain, Germany, Spain, France, Greece, Portugal, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific), Latin America (Brazil, Colombia, Argentina, and the rest of Latin America), and Middle East and Africa (GCC, South Africa, North Africa, and the rest of MEA).

The major players operating in the global tomato puree market are Neil Jones Food Company, Stanislaus Food Products, Kiril Mischeff Group, Conserve Italia Group, Sainsbury's, Riviana Foods Inc., Conagra Brands Inc., Del Monte Foods, Inc., Heinz Wattie’s Ltd., and Ariza b.v.

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KEY FINDINGS OF STUDY

By nature, the conventional segment was the highest revenue contributor to the market in 2022.
By packaging, the glass jar segment is expected to be the fastest-growing segment in the global tomato puree market during the forecast period.
By application, the food and beverage segment was the largest segment in 2022.
Depending on distribution channel, the B2B segment was the largest segment in 2022.
Region-wise, North America was the highest revenue contributor in 2022.

David Correa
Allied Market Research
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