Tomato Powder Market Is Estimated To Reach US$ 2.3 Billion By 2033
The global Tomato Powder Market is projected to reach a valuation of US$ 2.3 billion by the end of 2033, according to the latest data provided by Fact.MR, a provider of market research and competitive intelligence. Worldwide demand for tomato powder is expected to increase at a CAGR of 3.7% through 2033. The longer shelf life of tomato powder is making it a preferred choice for the preparation of different food products across the world.
Tomatoes are generally considered a significant crop and form an essential part of human diets. Although, people widely consume tomatoes freshly, around 80% of the total consumption is in the form of sauces, powder, ketchup, and juice. Tomato powder is manufactured by dehydrating natural tomatoes to produce a fine powder.
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Powdered tomatoes are the most efficient way to store dehydrated tomatoes. Tomato powder is an effective replacement for tomato juices, tomato paste, and tomato sauce and adds flavors to different dishes. There is a noticeable increase in the use of tomato powder in the food & beverage industry due to its rich flavoring characteristics. Increasing demand for natural and healthy ingredients in the food sector has bolstered demand for food products, including tomato powder, which can amplify levels of vitamins, including K, C, and A.
Key Takeaways from Market Study
- The global tomato powder market is forecasted to reach a value of US$ 1.6 billion in 2023.
- Worldwide demand for tomato powder is estimated to rise at a CAGR of 3.7% from 2023 to 2033.
- The global market is anticipated to reach a valuation of US$ 2.3 billion by the end of 2033.
“Growing demand for nutrient-dense confectioneries, baked goods, and other convenience foods is a prominent factor stimulating the consumption of tomato powder,” says a Fact.MR analyst.
Increasing Westernization of Food Patterns across Developing Countries
The population of youngsters and teenagers has been increasing rapidly in recent years. Further, the rising population of working-class people along with their increased purchasing power is stimulating demand for different types of fast-food products around the world. Tomato powder is used as one of the significant ingredients in different types of fast-food products.
A significant change in food consumption patterns during the last decade has resulted in a rising per capita intake of different fast foods, including burgers, pizza, hotdogs, sandwiches, and others. Tomato powder is utilized as a significant ingredient for enhancing flavor in different fast foods. Increasing requirements for non-GMO products are also expected to propel the demand for tomato powder. Prominent manufacturers such as Harmony House Foods are providing non-GMO tomato powder to match requirements for non-modified ingredients.
Opportunities for Manufacturers of Tomato Powder
Some of the prominent suppliers of tomato powder are investing in novel product launches to generate market growth opportunities.
For instance,
- In 2019, Lycored launched its innovative product named Lumenato, which is derived from the carotenoids of tomatoes. This newly launched product comes with numerous benefits for skin and beauty.
Key suppliers of tomato powder across the globe are investing a substantial amount to improve the efficiency of systems used for the supply chain management. They are predicted to invest in new developments to offer organic tomato powder to several end users.
Moreover, some regulatory frameworks are also implemented by respective bodies to reduce or minimize environmental impacts and to meet safety regulations. Initiatives are also taken to maintain product standards and ensure the quality of products.
Key Companies Profiled
- Lycored
- Agraz
- Garlico Industries
- BATA Food
- Drytech
- Aarkay Food Products
- Harmony House Foods
- Cham Foods
Segmentation of Tomato Powder Industry Research
- By Nature :
- Organic
- Conventional
- By Product Type :
- Spray Dried
- Bulk-sun Dried
- Freeze Dried
- By Extraction Method :
- Hot Break
- Cold Break
- By Application :
- Bakery & Confectionery
- Beverages
- Dairy & Frozen Desserts
- Infant Nutrition
- Curries, Gravies & Soups
- Sweet & Savory Snacks
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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What differences can the tomato powder market report make on the revenue impacts and strategies of businesses?
Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the tomato powder market and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:
- Attractiveness quotient of emerging product/technology types in various products in the tomato powder market
- Micro-economics factors that may hamper the prospects of some of the key segments
- Recent spate of research and development (R&D) funding on key tomato powder markets
- New business models paving way for disruptions in demand dynamic of key segments
- Regional markets that will be future engine of growth and the industry trends that will support these markets
- Challenges overcoming which may offer industry players competitive edge
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the tomato powder market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on nature (organic, conventional), product type (spray dried, bulk-sun dried, freeze dried), extraction method (cold break, hot break), and application (bakery & confectionery, beverages, dairy & frozen desserts, infant nutrition, curries, gravies & soups, sweet & savory snacks, others), across five major regions of the world.
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