Ketchup Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global ketchup market provides qualitative and quantitative analysis for the period from 2021-2030. The revenue generated by the market was USD 16.6 billion in 2022 and is expected to reach USD 24.1 billion in 2030, with a CAGR of 4.1% in the forecasted period 2023-2030. The study on ketchup market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

Ketchup is a mandatory product while eating several food items such as pizza, burgers, fries, etc for many people across the world. People consume ketchup with traditional as well as modern food, especially the millennial population. This population highly consumes ketchup and motivates younger and elder people to eat, which further propels the market's growth. Additionally, several variants of tomato ketchup are enjoyed and consumed by a large proportion of the population that includes snacks sauce, hot sauces, sweet sauces, and tangy sauces which is pushing the ketchup concentrate manufacturers to prepare and bring new flavors into the market. Thus, increasing penetration of new, flavourful, and quality products is boosting the growth of the market. Along with this rising demand from various end user such as hotels and restaurants from fast-food chains also supports the market growth. The innovation and development in the food industry and increasing consumption of continental food is providing growth opportunity to the market.

The extensive shelf space found in hypermarkets and supermarkets enables them to offer a diverse selection of ketchup brands and variants. This broad availability appeals to a larger customer base and enhances the likelihood of consumers discovering their preferred ketchup product. Additionally, these establishments provide consumers with a convenient one-stop shopping experience, serving as a convenient destination for purchasing groceries, including ketchup. Shoppers can effortlessly locate ketchup alongside other food items, simplifying the process of incorporating it into their overall grocery shopping routine. Moreover, Hypermarkets and supermarkets have a significant advantage when it comes to purchasing ketchup due to their substantial buying power. They are able to negotiate favorable deals and competitive prices with ketchup suppliers, thanks to the large volumes of products they order. This advantage sets them apart from smaller stores or specialty shops that may not have the same leverage in negotiations. By buying in bulk and securing advantageous pricing arrangements, hypermarkets and supermarkets can pass on these cost savings to their customers, offering ketchup at more affordable and competitive prices.

The market is anticipated to be dominated by the North America region. U.S., and Canada both the countries are both contributing highly to the growth of the ketchup market owing to the high population in the country. The consumer's food preferences are different in these countries due to which they consume ketchup in snacks, main course. Most of the population is working and goes through hectic work schedules, so most of the time they consume ready-made food. Ketchup is consumed with a variety of ready-to-eat food items, and the high consumption of fast food or ready-to-eat food by the large-scale population propels the growth of the market in the North America region. Additionally, the high demand for different types or flavors of ketchup from hotels and restaurants is also supporting the growth of the ketchup market in the region. Ketchup is not only a popular condiment in the region but also highly used in food preparation. There are many different brands of ketchup, that manufactures unique, flavorful, and quality products, so this ketchup is used in many dishes at the time of preparation as an ingredient. Thus, the high use of ketchup as a food ingredient is providing growth to the market. Moreover, the Asia-Pacific region may also grab a high share of the ketchup market during the forecasted period owing to the high consumption of fast food in the region.

Report Findings

1) Drivers

• Increasing demand for convenient food products and fast food is expected to contribute toward the market for ketchup over the forecast period.
• The rising expansion of the food and beverage industry is driving the growth of the market.

2) Restraints

• The allergic reaction caused by specific ingredients involved in the ketchup may hamper the market growth.

3) Opportunities

• The innovation and development in the food industry and increasing consumption of continental food is providing growth opportunity to the market.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents.

The primary respondents are approached include

1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry

The primary research respondents typically include

1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segment Covered

The global ketchup market is segmented on the basis of product, and distribution channel.

The Global Ketchup Market by Product

• Flavored Ketchup
• Original Ketchup

The Global Ketchup Market by Distribution Channel

• Hypermarket/Supermarket
• Convenience Stores
• Online Stores
• Others

Company Profiles

The companies covered in the report include

• Conagra Brands, Inc.
• Hindustan Unilever Limited
• Del Monte Foods, Inc
• Annie's Homegrown (acquired by General Mills)
• Bolton Group
• Nestlé
• The Kraft Heinz Company
• CAMPBELL SOUP COMPANY
• Kagome Co., Ltd.
• General Mills Inc.

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the ketchup market.
2. Complete coverage of all the segments in the ketchup market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global ketchup market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.