Preserved Tomato Market

The article discusses the projected growth of the global preserved tomato market, with a forecasted increase in both volume and value over the next eight years. Key points include the market's performance indicators, such as CAGR, market volume reaching 18M tons, and market value reaching $25.2B by 2030. Insights are provided on consumption trends, production, imports, and exports, highlighting key countries involved in the market. Detailed analysis on consumption patterns, production volumes, import and export values, and average prices are also discussed, providing a comprehensive overview of the global preserved tomato market.

Market Forecast

Driven by increasing demand for preserved tomatoes worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market volume to 18M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market value to $25.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Preserved Tomatoes

For the eleventh year in a row, the global market recorded growth in consumption of preserved tomatoes, which increased by 7.1% to 15M tons in 2022. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +65.3% against 2012 indices. The pace of growth was the most pronounced in 2016 with an increase of 9.2%. Global consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

The global preserved tomato market revenue rose to $17.7B in 2022, growing by 4.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.5% against 2012 indices. Over the period under review, the global market hit record highs in 2022 and is likely to continue growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (2.1M tons), Russia (1.7M tons) and the United States (1.2M tons), with a combined 32% share of global consumption. Italy, India, Indonesia, Brazil, Pakistan, the UK, Japan, Nigeria, Bangladesh and Germany lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +19.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest preserved tomato markets worldwide were China ($2.3B), Russia ($1.7B) and the United States ($941M), together comprising 28% of the global market. Italy, India, Indonesia, Brazil, Pakistan, Japan, Bangladesh, the UK, Germany and Nigeria lagged somewhat behind, together accounting for a further 30%.

Italy, with a CAGR of +19.4%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of preserved tomato per capita consumption in 2022 were Italy (17 kg per person), Russia (12 kg per person) and the UK (5.5 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Italy (with a CAGR of +19.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Preserved Tomatoes

For the eleventh year in a row, the global market recorded growth in production of preserved tomatoes, which increased by 6.7% to 16M tons in 2022. Over the period under review, the total production indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +65.8% against 2012 indices. The most prominent rate of growth was recorded in 2016 with an increase of 9.9%. Over the period under review, global production attained the peak volume in 2022 and is expected to retain growth in the immediate term.

In value terms, preserved tomato production totaled $17.2B in 2022 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 15% against the previous year. Global production peaked in 2022 and is expected to retain growth in the immediate term.

Production By Country

The countries with the highest volumes of production in 2022 were Italy (2.5M tons), China (2.1M tons) and Russia (1.7M tons), together comprising 40% of global production. The United States, India, Indonesia, Pakistan, Spain, Brazil, Nigeria, Bangladesh, Japan and Mexico lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +8.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Preserved Tomatoes

In 2022, global preserved tomato imports rose markedly to 1.8M tons, picking up by 12% against 2021. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, preserved tomato imports soared to $1.8B in 2022. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the UK (373K tons) and Germany (274K tons) represented the major importers of preserved tomatoesin the world, together finishing at near 37% of total imports. France (135K tons) ranks next in terms of the total imports with a 7.7% share, followed by Japan (5.8%) and the Netherlands (4.6%). The following importers - Canada (74K tons), Belgium (66K tons), Australia (63K tons), Sweden (45K tons), Poland (45K tons) and Austria (30K tons) - together made up 18% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Poland (with a CAGR of +11.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest preserved tomato importing markets worldwide were the UK ($360M), Germany ($276M) and France ($139M), with a combined 42% share of global imports. Japan, the Netherlands, Australia, Canada, Belgium, Sweden, Poland and Austria lagged somewhat behind, together comprising a further 29%.

Poland, with a CAGR of +11.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average preserved tomato import price amounted to $1,048 per ton, with an increase of 4.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 when the average import price increased by 13%. Global import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Australia ($1,227 per ton) and Sweden ($1,142 per ton), while Canada ($959 per ton) and the UK ($965 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Preserved Tomatoes

In 2022, global preserved tomato exports rose sharply to 2M tons, picking up by 8.3% on the previous year. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved tomato exports surged to $2B in 2022. The total export value increased at an average annual rate of +4.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

Italy prevails in exports structure, resulting at 1.5M tons, which was approx. 76% of total exports in 2022. It was distantly followed by Spain (140K tons), comprising a 7% share of total exports. The following exporters - the United States (76K tons), Greece (58K tons), Portugal (47K tons) and the Netherlands (40K tons) - together made up 11% of total exports.

Exports from Italy increased at an average annual rate of +2.9% from 2012 to 2022. At the same time, the Netherlands (+24.1%), Portugal (+9.8%), Greece (+7.7%) and the United States (+1.5%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +24.1% from 2012-2022. By contrast, Spain (-1.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands increased by +1.7 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($1.5B) remains the largest preserved tomato supplier worldwide, comprising 76% of global exports. The second position in the ranking was taken by Spain ($97M), with a 4.8% share of global exports. It was followed by the United States, with a 3.3% share.

In Italy, preserved tomato exports expanded at an average annual rate of +4.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Spain (-0.8% per year) and the United States (+3.0% per year).

Export Prices By Country

The average preserved tomato export price stood at $1,008 per ton in 2022, increasing by 6.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 11% against the previous year. The global export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($1,280 per ton), while Greece ($669 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+3.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform