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Overview of the Tomato Product Industry

Date:14-11-2013

Different types of tomato-based products are available in the market for enhancing the taste of food. The tomato product industry comprises of tomato ketchup, tomato paste, canned tomatoes, crushed tomatoes, tomato puree, sun-dried tomatoes, tomato juice, tomato compote and tomato seed oil. Some of these tomato-based products are used as staples whereas others are used in fine dining and gourmet meals. The market for processed tomato products have grown in the recent years as consumers demand for such products are on the rise.

Market for Processed Tomato Products

China is the world’s largest producer of tomatoes, followed by United States and India. Due to severe drought in the major tomato growing regions of the world, the global output production of tomatoes have taken a major hit. The production of tomatoes has nosedived to 34.721 million tons in 2012, which is the worst since the crash of 2007. As the production of tomatoes has fallen, the export volume of tomato products has declined by 4.2% in China. United States is the largest producer of processed tomato products in the world accounting for 35.6% of total global production. In US, the export of processed tomato products amounted to 474.7 million USD in 2010.

The consumption of processed tomato products have been on the rise from the last couple of years. Some factors that have influenced the growth in the industry are changing eating habits of consumers, change in lifestyle, the trend of cooking at home and consumers’ interest in trying out new cuisines. Tomatoes have also been promoted for their nutritional value which has in turn fueled the demand for processed tomato products. Key companies in this sector are McCormick & Company, COFCO Tunhe Co. Ltd., Kraft Foods Group Inc., Heinz Co., Kagome Co. Ltd. and the Morning Star Co.

With technological advancement in processing units and innovative product packaging, the global market for tomato products is forecasted to grow in the coming years.

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