Ketchup Market - Forecast(2023 - 2028)

Ketchup Market Overview

Global Ketchup Market size is estimated to reach $24.7 billion by 2027, growing at a CAGR of 4.2% during the forecast period 2022-2027. Ketchup is a smooth sauce prepared principally from tomatoes and vinegar, utilized as a relish. Benzoic acid and sorbic acid are extensively utilized for food preservation. These chemical preserving agents are typically known as safe and may be included in ketchup. High-nucleotide yeast extract (prototype 1) was included in ketchup, tomato pasta sauce, minimized fat mayonnaise, and cheese spreads, and the flavor was evaluated utilizing a sensory panel. Owing to the absence of liquid egg and dairy constituents in ketchup, there is no straight link between microbial pathogens. Propionic acid is utilized as a chemical preserving agent and flavoring agent in different kinds of packaged foods. This is inclusive of cheese and baked goods like tortillas and bread.

The surging inclination of customers towards western lifestyles and the altering of food habits involving ketchup with benzoic acid as a preservative specifically in developing countries are set to drive the Global Ketchup Market. The proliferating middle class will persist in being an important consumer demographic for the fast-food industry in the forthcoming years and is set to propel the growth of the Global Ketchup Market during the forecast period 2022-2027. This represents the Global Ketchup Industry Outlook.

Report Coverage

The report: “Ketchup Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Global Ketchup Market.

By Product Type: Regular Ketchup, Flavored Ketchup.
By Packaging: Bottled, Pouch.
By Distribution Channel: Foodservice, Retail Sector (Supermarkets And Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, Others).
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).

Key Takeaways

• Geographically, Europe Global Ketchup Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the soaring intake of ketchup involving benzoic acid as a preservative in the European region.

• Global Ketchup Market growth is being driven by the soaring intake of Original Ketchup in Europe and North America which are the principal regions of ketchup intake involving benzoic acid as a preservative on the planet. However, excessive intake of store-purchased tomato ketchup may bring about diabetes and obesity owing to the chemical preserving agents in it and this is one of the major factors hampering the growth of the Global Ketchup Market. 

• Global Ketchup Market Detailed Analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Global Ketchup Market report. 

Global Ketchup Market: Market Share (%) by Region, 2021

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Ketchup Market Segment Analysis – By Product Type:

The Global Ketchup Market based on product type can be further segmented into Regular Ketchup and Flavored Ketchup. The Regular Ketchup Segment held the largest market share in 2021. This growth is owing to the soaring functional characteristic of regular ketchup. Health-conscious consumers are increasingly inclined towards organic tomato ketchup owing to its organic and healthy constituents and benzoic acid may be applied for food preservation. The boost in the acceptance of regular ketchup across the world owing to its great sustainability is further propelling the growth of the Regular Ketchup segment.

Furthermore, the Flavored Ketchup segment is estimated to grow with the fastest CAGR of 5.8% during the forecast period 2022-2027 owing to the expanding preference of consumers to experiment with novel flavors like curry powder’s blend of South Asian spices fused with ketchup which may include Benzoic acid for food preservation.

Ketchup Market Segment Analysis – By Distribution Channel:

The Global Ketchup Market based on distribution channels can be further segmented into the Foodservice and Retail Sector. The Retail Sector Segment held the largest market share in 2021. This growth is owing to the soaring count of purchases made in Supermarkets and Hypermarkets displaying different varieties of ketchup manufactured by distinct global brands in one place thereby offering the convenience of shopping to customers amidst attempts to return to normalcy in the wake of the COVID-19 pandemic. The surging demand for organic tomato sauce and the proliferating application of ketch-up utilizing benzoic acid for food preservation in quick-service restaurants is fueling the supermarkets and hypermarkets to stock these varieties which are further propelling the growth of this segment.

Furthermore, the Retail Sector segment is estimated to grow with the fastest CAGR of 6.0% during the forecast period 2022-2027 owing to the soaring application of Online Stores where different assortments of ketchup applying benzoic acid for food preservation are available right at the fingertips for contactless home delivery probably at discounted rates amidst the COVID-19 pandemic.

Ketchup Market Segment Analysis – By Geography:

The Global Ketchup Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. Europe (Global Ketchup Market) held the largest share with 35% of the overall market in 2021. The growth of this region is owing to the soaring demand for fast food including ketchup utilizing benzoic acid for food preservation in the European region. The budding demand for organic tomato sauce backed by health-conscious consumers anticipating high-quality and low-calorie products prepared without artificial substances, pesticides, or chemicals and the existence of key players like Nestle in the region is further propelling the growth of the Global Ketchup Market in the European region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like surging demand for fast food in conjunction with the proliferating acceptance of western diet patterns in the Asia-Pacific region. The extensive accessibility of local variants suitable for local foods including the application of Benzoic acid for food preservation pertaining to ketchup and the heightening inclination for distinct kinds of ketchup are further fueling the progress of the Global Ketchup Market in the Asia-Pacific region.

Ketchup Market Drivers

Surging Applications Of Ketchup Are Projected To Drive The Growth Of the Global Ketchup Market:

As per the Heinz Company, the ketchup moves 0.045 kilometers (0.028 mi) per hour or around1.3 centimeters (0.5 in) per second. Worldwide development in westernized diets, together with heightened consumer demand for fast food, and the expanding recognition of frozen and easy-cook-ready meals, have prompted enormous progress in the Global Ketchup Market. This tomato-based condiment is a staple food cupboard treasured item, utilized as an enrichment to burgers, cooked meats, fries, and additional potato products, and as a flavoring for sauces. To fulfill local demands in markets worldwide, makers are also establishing ketchup variants that include distinctive spices, or particulates inclusive of vegetable pieces. Benzoic acid and sorbic acid are extensively utilized for food preservation. The surging applications of ketchup are therefore fueling the growth of the Global Ketchup Market during the forecast period 2022-2027.

Soaring Innovations Of Ketchup Are Expected To Boost The Demand For Ketchup:

ketchup is noticed in 97% of American households. Apart from the application of Benzoic acid and sorbic acid for food preservation, proliferating innovations are fueling the growth of the Global Ketchup Market. When the fingers are too oily to push around with the single-serving condiment sachet, the Ketchup Presser would undoubtedly be convenient to use. Designers Hwandong Lee, Nari Lee, Myung Gyu Kim, and Taeno Yoon have adjusted the standard French fry carton so that it can assist in acquiring the most flavor and reduce the mess. Simply the inclusion of a tiny flap to one side of the packaging makes a delectable variation. Where the flap bends inwards on the Ketchup Presser, a slot has formerly been cut. Once the catsup pouch has been introduced, the setup allows to evenly and effectively squeeze all of the sauce out without sullying the fingers more than essential. Designer Bae Su-Kyoo and Noh Haeun have developed an eco-friendly design for McDonald's permitting them to reduce inessential waste. It is termed the Dipping Cover and patrons can presently halt going to fill up their ketchup cups and instead put it right on the lids of their drinks. These kinds of soaring innovations pertaining to ketchup are therefore driving the growth of the Global Ketchup Market during the forecast period 2022-2027.

Ketchup Market Challenges

Health Concerns Pertaining To Consumption Of Ketchup Are Hampering The Growth Of The Global Ketchup Market:

Ketchup includes 1.25-1.50 percent acetic acid. Vinegar adds to the flavor and microbial stability of the ketchup. Ketchup includes a soaring quantity of high fructose corn syrup. This is utilized to permit the ketchup to effortlessly get out of the bottle. Most of the ketchup itself is prepared from tomatoes that have been overcooked with included water and some kind of corn syrup. High fructose corn syrup is not at all healthy. There are even brands that include "natural" flavoring, but this natural flavoring is frequently inclusive of chemicals, and one of the chief chemicals utilized is MSG. Numerous people are still not informed of the fact that ketchup is exceedingly high in sugar. Simply one tablespoon includes four grams of sugar. The average person utilizes a much greater quantity than this in a single sitting. A person can be including numerous grams of sugar in their diet every day and not even be acquainted with it. This is some reason for concern. The sugar in ketchup is frequently even worse than table sugar (sucrose), owing to being in the form of fructose. This can bring about added weight gain and insulin resistance. These issues are thus hampering the growth of the Global Ketchup Market.

Ketchup Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Global Ketchup Market. Key companies in this market are:

1. Del Monte Foods, Inc
2. The Kraft Heinz Company
3. Conagra Brands, Inc.
4. Nestle India Ltd,
5. Bolton Group
6. Hindustan Unilever Ltd
7. Red Duck Foods
8. Natureland
9. I Say Organic
10. General Mills, Inc.

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