Ketchup: Key market research findings
- Rise in private labels
- Growing popularity of organic ketchup
Technavio has released a new market research report on the global ketchup market, which is expected to grow at a CAGR of 4% between 2016 and 2020. Increased preference for convenience food products for food preparation, is increasing the sales of ketchup. Augmented use of ketchup in Quick service restaurants (QSRs) is expected to fuel the demand for the product during the forecast period. Europe dominates the global ketchup market, accounting for 52% of the overall market share. New flavours, convenient packaging, and product differentiation are some of the key factors which a consumer looks for before buying the product.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the number of private-label brands for ketchup has been increasing with an increase in organized retailing. Growing popularity of ketchup, sauces, and dressings for at-home consumption is attracting several retailers to make investments in the perishable food products. Private-label brands are better, offer higher value, and are priced better than branded purchases. Their prices are also reasonable and affordable to consumers,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
Manufacturers have introduced organic variants of ketchup, targeting the health conscious consumers. Ketchup made from organically grown tomatoes comprises of higher levels of beneficial antioxidant compounds such as polyphenols. One of the most predominant benefits of organic ketchup is the reduction in the use of pesticides, herbicide, and chemical pesticide. Consumers are opting for organic ketchup as this has more nutrients.
The leading vendors in the global ketchup market are ConAgra Foods, Del Monte Foods, HUL and Kraft Heinz. This market is subject to rapidly changing consumer demands and preferences. The market is highly fragmented because of the presence of numerous small and large vendors. The vendors in the market compete on the basis of factors such as price, quality, innovation, service, reputation, and distribution.
A more detailed analysis is available in the Technavio report, Global Ketchup Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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