Increasingly used in the food and beverage industry, the growth of the ketchup industry is due to customer preference for Western fast food and changing dietary preferences around the world.
In addition, the global market is expected to grow due to the growing middle class population, increasing disposable income and urbanisation around the world. Growing demand for organic ketchup is driving sales of ketchup due to global health concerns and growing consumer awareness of its benefits.
Drivers of market growth The growing popularity of ready-to-eat (RTE) products, the market is mainly driven by the growing global demand for ready-to-eat (RTE) ready-to-eat foods, especially among the millennial generation. Fritters, pizzas, sandwiches, hamburgers and Chips are all benefiting from the addition of ketchup.
Changing consumer lifestyles, increased purchasing power and food choices have helped the market to expand. Consumers prefer quickly prepared food and drinks that can be eaten on the go. The increased use of ready-to-eat and semi-prepared foods due to a growing working population and busy schedules has positively impacted the demand for condiments such as ketchup.
Tomato paste is available in cans, bottles and bags, which has increased convenience and therefore demand. Growing demand for creative and attractive packaging for processed tomato products is driving the development of tomato paste packaging. The offline channel is likely to remain dominant during the forecast period due to improved distribution channel network across the world.
Regional Outlook On the basis of region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. People in North America strongly prefer ketchup over other sauces and condiments, and almost every household in the U.S. uses ketchup, leading to significant market growth.
All in all, the ketchup market will continue to grow in the future and by extension the ketchup packaging market will continue to grow as well.
Post time: Sep-06-2022