|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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Global ketchup market is projected to grow at a CAGR of 5.2% during the forecast period (2021-2026).
The market is preliminarily driven by consumer's inclination towards western lifestyles and changing dietary habits, especially in developing countries.
The burgeoning middle class would remain a vital consumer demographic for the fast-food industry in the upcoming years, leading to significant growth prospects for the global ketchup market.
Private label ketchup brands have been performing better than well-established brands in many countries such as the UK, France, Germany, and others. This is mainly because many consumers have cut down their spending on non-essential products such as ketchup, sauces, spreads, dressings, and other similar products.
The COVID-19 pandemic has placed unprecedented stresses on food supply chains, with bottlenecks in farm labor, processing, transport, and logistics, as well as momentous shifts in demand. Food supply chains demonstrated a remarkable resilience in the face of these stresses. The effect on the agricultural sectors, including fruits and vegetables (raw material for ketchups), is marginal throughout world.
Scope of the Report
Ketchup is usually a sauce made from tomatoes or other fruits and vegetables. it is a sweet and tangy sauce and is a very popular condiment, usually made with tomatoes, sweeteners, vinegar, salt, various seasonings, spices, and other additives. Global ketchup market is segmented by product type as regular ketchup and flavored ketchup. Regular ketchup is commonly served with fast food items such as sandwiches, burgers, fries, and grilled or fried meat. It is also commonly used as a base for other sauces since its flavor is popular and agreeable. By packaging, it is segmented as bottled and pouch. Moreover, by distribution channel as hypermarket/supermarket, convenience stores, online retail stores, and other distribution channels.
|By Product Type|
|By Distribution Channel|
Key Market Trends
Increasing Inclination towards Organic Ketchup
The growing demand for organic tomato ketchup will be one of the significant trends that will gain market traction in the coming years. The rise in health-conscious consumers owing to their growing preference towards organic products due to their natural and healthy ingredients would further fuel the market growth.
Moreover, the high functional property of regular ketchup is boosting its market growth. There is an increase in the adoption of regular ketchup across the globe, owing to its high sustainability. Some of the companies providing organic ketchup include The Kraft Heinz Company, Annie's Homegrown, Inc., and Orchard Lane. Moreover, the global sales of organic food have increased between 2000 and 2017. In 2018, sales of organic food amounted to USD 95 billion, up from nearly USD 18 billion in 2000. This factor too is expected to spur the demand for organic ketchup in the global ketchup market.
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Changing Dietary Habits and Inclination towards Western Lifestyle
Inclination towards Western lifestyle and changing dietary habits of people, especially in developing countries, drive the growth of the ketchup market. Also, the consumers, especially in North America prefer to use ketchup, among all the other sauces and condiments. About 97% of households in the United States consume ketchup. The consumption of ketchup is gaining popularity day by day owing to the growing change in the food habits and increased consumption of Western-style fast food products, Chinese, continental and other convenient snack foods. The shift has been towards spending less time on food preparation or opting for more convenient options will likely to affect the growth of ketchup market globally. Consumers have expanded their usage of ketchup as it becomes a convenient replacement for other sauces and condiments.
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The global ketchup market faces high competition, as the majority of the share is held by the leading players, including Del Monte Foods, Inc, The Kraft Heinz Company, and Conagra Brands, Inc. The key players have intensely embarked on industry consolidation by leveraging their distribution network, entering into partnerships with local distributors especially in the emerging economies and developing new products with customization for different end-user industries. Moreover, these players are focussing on online distribution channels for their online marketing and branding of their products in order to expand their geographic reach and increase their customer base.
In 2019, The Kraft Heinz Company launched EINZ Tomato Ketchup, which is prepared with a blend of veggies, including carrots and butternut squash.
In 2019, Conagra Brand, Hunt's launched clean-label tomato ketchup- Hunt's Best Ever Ketchup, a 100% all-natural ketchup made with vine-ripened California tomatoes and cane sugar with no high fructose corn syrup.
In 2019, Kraft Heinz Company acquired “Primal Kitchen LLC (US-based local manufacturer of kitchen products, such as ketchup, dressings, snacks, and more), to expand their offerings under sauces and condiments. According to U.S. Zone President for Kraft Heinz, the brand's authentic, premium products will complement Kraft Heinz’s Condiments & Sauces categories.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Regular Ketchup
5.1.2 Flavored Ketchup
5.2 By Packaging
5.3 By Distribution Channel
5.3.2 Retail Sector
126.96.36.199 Convenience Stores
188.8.131.52 Online Stores
184.108.40.206 Other Distribution Channels
5.4.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.4.3 Asia Pacific
188.8.131.52 Rest of Asia-Pacific
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle East and Africa
220.127.116.11 South Africa
18.104.22.168 United Arab Emirates
22.214.171.124 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Conagra Brands, Inc.
6.4.2 Del Monte Foods, Inc.
6.4.3 Annie's Homegrown, Inc.
6.4.5 The Kraft Heinz Company
6.4.6 Nestle S.A.
6.4.7 Campbell Soup Company
6.4.8 Premier Foods Plc
6.4.9 General Mills Inc
6.4.10 Lee Kum Kee
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Ketchup Market market is studied from 2016 - 2026.
What is the growth rate of Ketchup Market?
The Ketchup Market is growing at a CAGR of 5.2% over the next 5 years.
Which region has highest growth rate in Ketchup Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Ketchup Market?
North America holds highest share in 2020.
Who are the key players in Ketchup Market?
Conagra Brands, Inc., Del Monte Food, Inc, Unilever, The Kraft Heinz Company, Nestlé S.A are the major companies operating in Ketchup Market.