Press release
Tomato Powder Market Report, Size, Share, Growth, Trends, Industry Outlook to 2033
Tomato Powder Market
The new report published by The Business Research Company, titled Tomato Powder Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the tomato powder market size has grown steadily in recent years. It will grow from $1.66 billion in 2023 to $1.74 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The tomato powder market size is expected to see strong growth in the next few years. It will grow to $2.11 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.
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What Is Driving The Growth Of The Global Tomato Powder Market?
Increasing Demand For Ready-To-Eat And Convenience Foods Propelling The Growth Of Tomato Powder Market
The increasing demand for ready-to-eat and convenience foods is expected to propel the growth of the tomato powder market going forward. Ready-to-eat and convenience foods refer to food products that are fully prepared or require minimal preparation before consumption, offering convenience and saving time for consumers. The increasing demand for ready-to-eat and convenience foods is due to several factors, such as changing lifestyles, where people have less time for meal preparation, the rise of single-person households, and the growing preference for quick and easy meal solutions that require minimal cooking or assembly. Tomato powder enhances the flavor, color, and nutritional value of ready-to-eat and convenience foods. Its versatility and long shelf life make it a popular ingredient in soups, sauces, and snacks. For instance, in March 2024, the Bank of Ayudhya Public Company Limited, a Thailand-based commercial banking company, reported that the domestic market for Thai-made ready-to-eat food is expected to grow by 3.0-4.0% annually from 2024 to 2026. Additionally, in 2022, the ready-to-eat food industry had a total domestic and export sales volume of 482.4 thousand tons, with a value of USD 2.0 billion. Therefore, the increasing demand for ready-to-eat and convenience foods is driving the growth of the tomato powder market.
What Is The Key Trend In The Global Tomato Powder Market?
Advanced Product Development In The Tomato Powder Market
Major companies operating in the tomato powder market are focusing on developing advanced products, such as gluten-free products, to gain a competitive edge in the market. Gluten-free tomato powder is a finely ground, dehydrated form of tomato that undergoes rigorous processing to ensure it contains no gluten. It is produced in facilities that strictly avoid cross-contamination with gluten-containing grains like wheat, barley, and rye, making it safe for individuals with gluten intolerance or celiac disease. For instance, in August 2022, Mooney Farms, a US-based food manufacturer, launched a new Sun Dried Tomato Tuscan Rub made with real sun-dried tomatoes, is joining its flagship Bella Sun Luci line. This rub enhances veggies, chicken, fish, and more and features a perfect combination of spices and flavors brought together by Bella Sun Luci's own sun-dried tomatoes crushed into a delicious powder.
How Is The Global Tomato Powder Market Segmented?
The tomato powder market covered in this report is segmented -
1) By Process: Hot Break, Cold Break
2) By Category: Organic, Conventional
3) By Applications: Bakery And Confectionary, Dairy And Frozen Desserts, Beverages, Infant Nutrition, Sweet And Savory Snacks, Curries Gravies And Soups, Other Applications
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How Is The Competitive Landscape Of The Global Tomato Powder Market?
Major companies operating in the tomato powder market are Kagome Co. Ltd, Diana Foods Inc, COFCO Tunhe Tomato Co. Ltd., Gansu Dunhuang Seed Xiyu Tomato Products Co. Ltd., Cham Foods, Aarka*y Food Products Ltd., Saipro, China Kunyu Industrial Co.Ltd, Drytech, Harmony House Foods, Agusa, Conesa Group, Maduras Herbals, Philominas Food Products, Jay Bharat Spices Pvt. Ltd., Garlico Industries Limited, Farmvilla Food Industries Private Limited, Holy Natural, GrupoEmpresarialAgraz S.L., Sahjanand Foods And Agro Tech, Agraz
Contents Of The Global Tomato Powder Market
1. Executive Summary
2. Tomato Powder Market Report Structure
3. Tomato Powder Market Trends And Strategies
4. Tomato Powder Market - Macro Economic Scenario
5. Tomato Powder Market Size And Growth
…..
27. Tomato Powder Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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