Global Ketchup Market to Top $3.3 Billion by 2015

SAN JOSE, Calif.The global tomato ketchup market will reach a whopping $3.3 billion in 2015, according to a new Global Industry Analysts Inc. report, Tomato Ketchup: A Global Strategic Business Report.

Growth in the market is especially driven by factors such as changing dietary habits, increased consumption of exotic flavors, cuisines and gourmet varieties, rising adoption of western lifestyle, and speed and agility in new product innovation. The report examines market trends, growth drivers and challenges of the tasty condiment and also provides insight into acquisitions and other strategic industry activities.

Key players in this marketplace include Campbell Soup Company, ConAgra Foods Inc, General Mills Inc, GraceKennedy Limited, H J Heinz Company, Kagome Co Ltd, Kikkoman Corporation, Lee Kum Kee, Nestle USA Inc, Premier Foods Plc, and Tate & Lyle PLC among others.

From reduced sugar/no salt added options to organic varieties, the tomato ketchup industry is witnessing tremendous growth worldwide with consumers across different nationalities and cultures preferring different flavors. According to the report, the industry garnered impressive sales not only in the mature U.S. and European markets, but also in the growing regions of Asia-Pacific and Middle East. With globalization of brands and products, consumers in the developing world have caught up with their Western counterparts.

A growing global population and the changing lifestyle and eating habits have fueled growth patterns across regional markets worldwide. The recession induced change in eating habits has created a shift away from restaurants towards cooking at home, thereby creating demand for semi-prepared, packaged food products such as tomato ketchup.

The single-segment report offers market estimates and projections for global tomato ketchup sales for the following regional marketsthe United States, Canada, Japan, Europe (France, Germany, Italy, United Kingdom, Spain, Russia and rest of Europe), Asia-Pacific (China, and rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico and rest of Latin America).