Canned tomatoes are very convenient to use as they do not require pre-processing and can be used directly in recipes. They are high in nutrients like vitamins C, K and potassium. The hectic lifestyles of consumers have fueled demand for convenient packaged food products like canned tomatoes which save kitchen preparation time.

The global canned tomato market is estimated to be valued at US$ 11.8 billion in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends fueling the growth of the canned tomato market is the increasing demand for convenience foods. Busy work schedules and hectic lifestyles have left consumers with very little time for food preparation activities at home. Canned tomatoes offer immense convenience as they do not require any pre-processing like chopping, peeling or cooking and can be directly added to recipes. Their long shelf life also ensures they are always on hand for quick meals. The time saving benefit of canned tomatoes has made them hugely popular amongst urban consumers. With evolving dietary preferences and growing health consciousness, canned tomatoes which are low in sodium and a good source of nutrients are gaining widespread acceptance.

Segment Analysis
The global canned tomato market is dominated by the whole/diced tomatoes segment. This segment accounts for over half of the total market share as whole/diced tomatoes are the most versatile and widely used canned tomatoes product. They can be used for preparing variety of dishes like pasta sauces, pizzas, sandwiches, etc. making them a preferred choice among consumers as well as commercial users like food processing companies.

Key Takeaways
The Global Canned Tomato Market Size is expected to witness high growth in the forecast period. The market is projected to grow from US$ 11.8 Bn in 2024 to US$ 23.4 Bn by 2030, expanding at a CAGR of 8.0% during the forecast period.

Regional analysis: Europe accounts for the largest share in the canned tomatoes market currently. Countries like Italy, Spain and France are the major consumers as well as producers of canned tomatoes in Europe. However, North America is expected to surpass Europe and emerge as the fastest growing regional market during the forecast period. Growing health-conscious population seeking convenience food products and increased product innovation by manufacturers are some factors driving the demand in North America.

Key players operating in the canned tomato market are Honeywell International Inc., United Technologies Corporation, Crestron Electronics, Inc., Cisco Systems, Inc., Ingersoll-Rand PLC, Schneider Electric SE., Johnson Controls Inc., Acuity Brands, Inc., ADT Corporation, Control4 Corporation, and Others. Honeywell international captures the largest market share owning to its diverse product portfolio and strong distribution network across major markets. United Technologies Corporation follows Honeywell and is focusing on product development efforts to introduce new innovative products catering to changing needs of consumers and commercial users.

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