Tomato
is one of the major vegetable crop grown worldwide. Tomato paste is a
concentrated long shelf life product used as an important food
ingredient worldwide. As per Food and Agriculture Organization (FAO)
in 2011, the global tomato production was approximately 130 million
tons with China and Europe as leading tomato producing regions
currently. Other major tomato producers across the globe are India,
U.S. and Turkey. Tomato paste is prepared by removing skin, pulp of
tomatoes to create tomato juice which is then concentrated generally
by evaporation method in order to obtain a thick paste. Tomato paste
market is expected to witness significant market growth during the
forecast period owing to its widespread application in food industry.
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Increasing
demand for organic tomato paste is expected to uplift the global
market revenues of tomatoes globally in the coming years. The global
tomato paste market is segmented into, product type, packaging type,
area of application, sales channels and by region. By product type,
the global tomato paste market is segmented on the basis of dry
matter content into, single concentrate, double concentrate and
triple concentrate. Double concentrate is the most common type of
tomato paste currently available in the market. By packaging type the
global tomato paste market is segmented into, cans, carton packaging,
bottles and pouches. Cans are the preferred mode of packaging for
tomato paste due to its convenient packing and to increase the shelf
life of the tomato paste based products. By application the global
tomato paste market is segmented into, industrial, household and
commercial applications. In industrial application the tomato paste
is widely used in making sauces, and in finished products such as,
pizzas, soups jams and others. By sales channels the global tomato
paste market is segmented into, hypermarkets/supermarkets,
convenience stores, E-commerce and pother retail formats.
Growing
demand for convenience food products, shift towards organic and clean
label products and growing consumption of tomato paste is expected to
fuel the market revenue growth of tomato Paste market over the
forecast period. Furthermore, growing demand for fresh tomatoes has
contributed towards its escalating production across the globe. For
example, in the U.S., California is the leading producer of tomato
paste with fresh tomatoes production taking place across all the
states in the region. Domestic tomato producers have recognized
limited market opportunity in the global tomato business hence, a
number of new greenhouse/hydroponic operations have come online in
several States over the past few years which will further accelerate
the tomato
paste market growth in terms of value and value both.
Some
of the key players offering Tomato Paste include; Conagra Brands, Del
Monte Foods, Inc., Olam Spices & Vegetables Inc., Los Gatos
Tomatos, Cento Fine Foods, Muir Glen Organic, Vigo Importing Co.,
PANOS brands, Bionaturae, LLC and others.
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