PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1517318
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1517318
Global Tomato Puree Market is valued at approximately USD 5.32 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 4.21% over the forecast period 2024-2032. Tomato puree, a thick liquid or paste created by cooking and straining tomatoes to remove seeds and skins, offers the rich flavor and vibrant color of tomatoes in a concentrated form. This puree is used as a versatile base for sauces, soups, stews, and other culinary dishes, providing convenience and consistency in various food applications. The demand for tomato puree is driven by the growing preference for processed food, the rising health consciousness among consumers, and the versatile application of tomato puree in various culinary preparations.
The surge in demand for processed food significantly drives the market growth for tomato puree. For instance, Northeastern University's Network Science Institute reports that ultra-processed foods constitute 73% of the U.S. food supply, with adults obtaining over 60% of their daily calories from such foods. As lifestyles evolve, consumers increasingly prefer convenient and time-saving food options, making processed foods, which often contain tomato puree, an appealing choice. Tomato puree serves as a crucial ingredient in sauces, soups, ready-made meals, and snacks, enhancing flavor and nutritional content. This trend aligns with the health-conscious approach that encourages manufacturers to incorporate tomato puree into their products, catering to the demand for both taste and nutritional benefits. However, the market faces challenges due to fluctuations in tomato prices, influenced by seasonal changes, unfavorable weather conditions, and global trade dynamics. For instance, the global average price of tomatoes ranged from $79.0 to $88.2 per metric ton between 2015 and 2021, reflecting these fluctuations. Such variations impact the production cost of tomato puree, affecting profit margins for manufacturers. Furthermore, opportunities abound with the increasing demand for organic tomato puree products. The U.S. Department of Agriculture's 2021 Organic Survey reported $11.2 billion in organic product sales, reflecting a 13% increase from 2019. This demand drives producers to introduce organic and flavored varieties, tapping into consumer preferences for healthier and diverse food options.
The key regions considered for the Global Tomato Puree Market study include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for a significant market share in 2023. This demand is driven by the widespread use of tomato-based products in cooking and food processing. Factors contributing to market growth include increasing consumer preference for convenience foods, the popularity of Italian and Mediterranean cuisines, and the rising demand for processed foods. Moreover, several major companies dominate the North American tomato puree market, including multinational food corporations and regional manufacturers. In addition, increasingly, consumers are purchasing tomato puree through online platforms, contributing to the market's growth in e-commerce channels. The Asia-Pacific region is projected to experience the highest growth rate during the forecast period 2024-2032.