Canned tomatoes are processed and sealed in an airtight container such as cans or jars to extend their shelf life. Canned tomatoes are found in various forms which include whole peeled tomatoes, crushed tomatoes, tomato sauces and tomato pastes. They are used as a basic ingredient in many dishes such as pizza, pasta, curries and more. The global canned tomato market has witnessed significant growth in recent times due to changing consumer preferences towards convenience food products. With fast-paced lifestyle and increasing number of working women globally, demand for ready-to-eat meals and convenience products have surged.

The global canned tomato market is estimated to be valued at US$ 13.6 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The key driver that is prompting the growth of the canned tomato market is the rising demand for convenience food products. With changing lifestyle and increasing fast food consumption, consumers prefer easy-to-cook and ready-to-eat meals that save time and offer convenience. Canned tomatoes, being a basic and versatile ingredient in various cuisines, cater well to this rising demand. They can be used straight out of the can to prepare quick meals. Another driver is increasing health consciousness among consumers. Canned tomatoes are considered healthier than fresh tomatoes in certain aspects as the canning process helps retain nutrients. They are a rich source of antioxidants like vitamin C and lycopene.

SWOT Analysis

Strength: Canned tomatoes have a longer shelf life than fresh tomatoes and can be consumed throughout the year. Being free of pesticides, canned tomatoes are safe to eat. Their taste and texture remain consistent without seasonal variations.

Weakness: Compared to fresh tomatoes, canned varieties have higher sodium content which is not suitable for health-conscious consumers. The processing required for canning reduces some nutrients in tomatoes.

Opportunity: Rising health consciousness is fueling the demand for organic and non-GMO canned tomato products with no added preservatives or salt. Product innovations introducing new flavors and easy-to-use packages are expanding the market.

Threats: Strict regulations over the use of BPA linings in food cans hamper production. Natural calamities can disrupt tomato supply, affecting prices.

Key Takeaways

The Global Canned Tomato Market Share is expected to witness high  over the forecast period of 2024 to 2031. The market size for 2024 is estimated to be US$ 13.6 Billion and projected to rise at a CAGR of 8.0% through 2031.

Regional analysis of the canned tomato market reveals North America currently dominates with the largest share. This can be attributed to increased consumption of processed food items and growing trend of food preservation in the region. Europe follows in terms of market size and also has a high demand for organic and low-sodium canned varieties.

Key players operating in the canned tomato market are Honeywell International Inc., United Technologies Corporation, Crestron Electronics, Inc., Cisco Systems, Inc., Ingersoll-Rand PLC, Schneider Electric SE., Johnson Controls Inc., Acuity Brands, Inc., ADT Corporation, Control4 Corporation, and Others. Some of the notable companies enjoy a strong position through technologically advanced production facilities and a wide distribution network across major markets.

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