Tomato
ketchup is a high demanding condiment in the fast food industry. It
is used as an accompaniment with various food items like french
fries, burgers, chips, sandwiches, and also as a base for other
sauces. Earlier, this ketchup was thin and watery; it is now
available as a thicker sauce. The global
ketchup market is growing rapidly. Tomato is a major ingredient
for any ketchup or sauce because of its various health benefits.
The
global tomato ketchup market is gaining maximum share from the US and
Europe and also growing in Asia Pacific and Middle East. This market
is expected to reach USD 3.3 billion by 2015. The growth of the
market is highly driven by various factors such as rising adoption of
Western lifestyle, awareness of product innovation and its
categories, increasing consumption of various different flavors,
multitude of cuisines and gourmet varieties.
There
are various factors that have fueled the growth patterns of the
tomato ketchup market - changing lifestyle and eating habits,
consumer shift towards cooking at home rather than eating in
restaurants and demand for semi-prepared food and packaged food
products. Global tomato ketchup gets the highest share from local
players in the market as there are very less international players
present in the market. Tomato ketchup brands and products are
globalized across the world in high demand and high market growth.
There
are also some other factors that restrain the growth of the global
tomato ketchup market - increasing usage of substitute products,
increased unorganized local manufacturers, constantly changing
consumer taste and choices.
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Globally
the tomato ketchup market can retain maximum market share by
differentiating their products in the market, by coming up with
innovative products and by focusing on different packaged food
products. Changing life style and taste of consumers in different
countries will motivate the growth of the tomato ketchup market.
Some
of the key players driving the market are Nestle India Limited,
Kikkoman Corporation, Campbell Soup Company, ConAgra Foods, Inc.,
General Mills, Inc., GraceKennedy Limited, H. J. Heinz Company,
Kagome Co., Ltd., Lee Kum Kee, Nestle USA, Inc., Premier Foods Plc,
and Tate & Lyle PLC.
This
market research report analyzes important market segments, and major
geographies. This report is a complete study of current trends in the
market, industry growth drivers, and restraints. It provides market
projections for the coming years.
It
includes analysis of recent developments in technology, Porter’s
five force model analysis and detailed profiles of top industry
players. The report also includes a review of micro and macro factors
essential for the existing market players and new entrants along with
detailed value chain analysis.
The
major regions analyzed under this research study are North America,
Asia-Pacific, Europe, and the Rest of the World.
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