The recent expansion of the worldwide canned tomato industry is attributable to a shift in customer preferences towards quick and easy meal items as well as growing awareness of the negative effects of plastic food packaging. Additionally, consumers are now prepared to spend more on prepared meals and canned goods like fruits, seafood, organic vegetables, and other food items. During the anticipated period, these factors are anticipated to fuel market expansion. Due to expanding urbanisation and consumers' growing preference for western fast food cuisines, Asia Pacific has recently had a significant market share in terms of both revenue and volume. Additionally, during the forecast period, demand for canned tomato is anticipated to increase due to the region's growing population. Maintaining the flavour and quality of tomato products while preventing exposure to external elements like temperature and humidity from the manufacturing stage to distribution is a major concern for producers of packaged foods. Therefore, metal-based cans are used to both provide convenience for the consumer and to prevent the spoilage of canned tomatoes. Although it is anticipated that the market growth over the projected period will be hampered by the rising prices of metal globally.
Coherent Market Insights estimates that the market for Canned Tomatoes was estimated to be worth $11.7 billion globally in 2020; by 2030, it is anticipated to grow to $19.5 billion, with a CAGR of 5.3%.
Leading Companies in the Canned Tomato Industry:
1. Kronos Incorporated
The firm was started in 1977 and is based in Massachusetts, United States. Organisations may reduce compliance risk, manage labour expenses, and enhance worker quality with the help of Kronos' workforce management solutions. The merger with Ultimate Software and Aron Ain's appointment as CEO were both announced in February 2020. In April 2020, Kronos released an automatic report-generating technology to help with contact tracing in response to the COVID-19 pandemic.
2. Campbell
The company was founded in 1869 and has its main office in Camden, New Jersey, U.S. Campbell Company makes and sells branded convenience food items through its subsidiaries. Soups and sauces, biscuits and confectionary, and foodservice are the main business segments of the company.
3. Libby’s Brand Holding
The company was started in 1869 and has its headquarters in Chicago, Illinois. Corned beef or beef in brine were the first canned meat products offered by the company. When it started to package the meat in a trapezium shape, it gained notoriety. With the exception of corned beef, pumpkin and fruit juices, Peaty Mills plc. acquired the Libby's brand licence for preserved goods in the UK, Ireland and Portugal.
4. Del monte
The firm was established in 1886 and is based in California, United States. The business produces and sells packaged food items, offers canned fruits and vegetables, a variety of snacks, and manufactures and distributes packaged food items. In September 2022, Nicole Keshishian Modic of KaleJunkie and Del Monte's® VeggiefulTM Brand established a partnership. To establish a national retail presence in broth and stocks, Del Monte Foods, Inc. acquired Kitchen Basics in August 2022.
5. B&G FOODS NORTH AMERICA, INC
The company was founded in 1999 and is based in North America. The company uses a variety of sales channels to market and sell its goods, including wholesalers, mass merchants, catalogues, and supermarket warehouses. Foods like salsa, maple syrup, pickles, baked beans, liquid smoke, meat spreads, and vinegars are among the items that B&G distributes under its own names. B&G Foods purchased Growers Express's frozen vegetable manufacturing operations in May 2022.
6. Conagra Brands
The firm was established in 1919 and has its main office in Chicago, Illinois, United States. Conagra produces and advertises foods sold in supermarkets, restaurants, and other food service establishments under a variety of brand names. Conagra announced on December 8, 2020, that it was selling the Peter Pan name to Post Holdings. On January 25, 2021, the deal was finalised.
7. Kraft Heinz Co.
The business was founded in 2015 and is based in Pennsylvania, U.S. A leader in nutrition and food around the world, The Kraft Heinz Company offers a wide range of goods. On January 19, 2022, Kraft Heinz declared that it had finished buying an 85% interest in Just Spices GmbH, a company based in Germany. Hemmer, a Brazilian company that specialises in condiments and sauces, was acquired by Kraft Heinz for an unknown sum in September 2021.
*Definition: Food that has been prepared and put in cans made of metal is referred to as canned food. There are many food products available in canned form, including organic fruits and vegetables, meat, fish, seasonings, and ready-to-cook meals.
