Various factors are supporting growth witnessed in the global tomato paste market. For instance, lifestyle changes over the years have impelled consumers to prefer convenience food. This has in turn created lucrative sales prospects for sauces and condiments. While a significantly large section of customers continue to prefer cooking food at home, they agree that availability of pastas and sauces have made the chore easier and quicker. With consumers gradually shifting towards more organic and clean label products, tomato paste producers can expect significant opportunities to capitalize on in the forthcoming years.
What makes Europe a lucrative market for tomato paste producers?
While the demand for tomato paste is likely to surge worldwide, North America and Western Europe are expected to emerge at the fore of the demand witnessed in the market. Tomato is one of the most widely consumed vegetables in European markets, accounting for a considerable share of fresh vegetable crops available in the region. Also per capita consumption of tomato is significantly high in countries such as France, Germany, Spain, and France. These factors are likely to give impetus to the tomato paste market in Europe. Also the presence of leading companies will support the market’s expansion in Europe.
Besides this owing to high per capita consumption of tomato and tomato paste in the household sector, the market will witness lucrative growth opportunities in Asia Pacific. As per Transparency Market Research, the increasing demand from China and India will boost the Asia Pacific market for tomato paste. Globally, the market is likely to witness high demand from the U.S. and Africa, where tomato paste is used for making various recipes.
What factors will support the market’s growth worldwide?
Overall, the global tomato paste market is likely to considerably gain from their easy availability. Consumers around the world have become habitual to the taste of tomato, which is identified by experts as a key factor behind the soaring popularity of tomato pastes. Besides this, increasing inclusion of tomato paste in various recipes will fuel its demand in the coming years. Also, tomato paste has a huge scope of application in foods and snacks marketed commercially. The growing fondness for tomatoes has triggered the usage of tomato puree. Several soup manufacturers are also blending tomato paste in their soup recipes to give them a tangy flavor and natural sweetness. All these factors will boost the global tomato paste market in the coming years.
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With leading companies coming up with innovative strategies of selling their products, the global tomato paste market is expected to gain impetus in the near future. For instance, recently a multi-million site, selling tomato paste was launched in Gambia. Gambia Angola China Global Group (GACH) has recently launched its mineral water and tomato paste producing facility to cater to the increasing domestic demand. Such steps taken by the market players to gain competitive strength and capitalize on prevailing opportunities will have a positive influence on the overall market.