Portland, OR, Nov. 17, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global canned tomatoes market generated $11.7 billion in 2020, and is estimated to reach $19.5 billion by 2030, witnessing a CAGR of 5.3% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
High demand from Generation Z, surge in usage from the hospitality industry, and increase in demand for nutrient-rich foods drive the growth of the global canned tomatoes market. However, availability of alternatives and fatal effects on the environment due to wastage of cans hinder the market growth. On the other hand, demand for organic foods, added flavors, and omni-channel sales approach presents new opportunities in the coming years.
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Covid-19 Scenario:
- The canned tomatoes market was not impacted severely as tomatoes came under the essential goods category. The demand increased during the Covid-19 pandemic as people began storing their food for longer time due to uncertain conditions.
- The demand from the commercial segment reduced considerably. However, the demand has been recovered by the significant increase in demand from the residential sector.
- Surge in sales through omni-channel approach and the trend of in-house cooking is expected to impact the market positively post-lockdown.
The report offers detailed segmentation of the global canned tomatoes market based on type, end user, sales channel, and region.
Based on type, the diced tomatoes segment accounted for the highest share in 2020, contributed to around two-fifths of the total share, and is expected to continue its lead position during the forecast period. Moreover, this segment is projected to manifest the largest CAGR of 5.6% from 2021 to 2030. The research also analyses the segments including whole peeled tomatoes, stewed tomatoes, and others.
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Based on end user, the residential segment contributed to the largest share in 2020, accounting for nearly three-fourths of the total share of the global canned tomatoes market, and is projected to continue its dominant share during the forecast period. However, the commercial segment is expected to register the fastest CAGR of 6.0% from 2021 to 2030.
Based on region, Europe contributed to the highest share in 2020, accounting for more than half of the total market share, and is estimated to continue its leadership status by 2030. However, Asia-Pacific is expected to portray the largest CAGR of 7.6% during the forecast period.
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List of companies profiled of the global canned tomatoes market analyzed in the research include Conagra Brands, DeMatteis, Del Monte Foods Holding Limited and Subsidiaries, Kraft Heinz Company, General Mills, Inc., Princes Limited, Nestle S.A., Sun-Brite Foods Inc., Red Gold, and Unilever Plc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
