(Entertainment-NewsWire.com, August 13, 2018 ) Tomato Ketchup is a highly popular table sauce which is made from tomatoes, vinegar, salt and sweeteners. It is used as a condiment to dishes which are served hot, such as hamburgers, hot sandwiches and hot dogs among others. It is also used as an ingredient in the preparation of other sauces and dressings.
Tomato Ketchup Market was worth USD 3.98 billion in 2018 and estimated to be growing at a CAGR of 4.32%, to reach USD 4.92 billion by 2023.
In the beginning, tomato ketchup was sold locally by farmers. Slowly the trend of selling tomato ketchup in bottles began. Today, Heinz is the largest selling brand of tomato ketchup. As of 2012, 650 million bottles were sold every year in the world. Before the introduction of Heinz ketchups, tomato ketchups which were available commercially were watery and thin due to the use of unripe tomatoes and also had less vinegar than today’s ketchups.
The driving factors of global Tomato Ketchup Market are rising demand for fast foods, rising adoption of western eating habits in other parts of the world, convenience offered by fast food, availability of regional variants which is suitable for regional foods and rising disposable incomes among others. Among the factors which are restraining the growth of this market are usage of barbecue and mustard sauces. The success of tomato ketchup in some regions led to the preparation of other sauces and condiments which are alternatives to the usage of tomato ketchup.
The global tomato ketchup market is segmented based on application into direct family consumption, food services and other food applications. Direct family consumption accounts for the largest share in the segment. By distribution channel, the market is segmented into online stores, speciality stores, super markets, departmental stores, convenience stores and other distribution channels.
The Global tomato ketchup market is divided based on geography into North America, Latin America, Asia-Pacific, Middle East and Africa and Europe. North America has the leading market for Tomato Ketchup in the world, which is followed by Europe and Asia Pacific regions. Asia Pacific region is expected to have the fastest growth rate during the forecast period.
Some of the major players in the market are H. J. Heinz Company, Campbell Soup Company, Nestle India Ltd., Tate & Lyle plc, Lee Kum Kee, General Mills Inc., ConAgra Foods Inc. and Premier Foods Plc.
