Ketchup Market Size, Share & Industry Analysis, By Product Type (Flavoured Ketchup, Original Ketchup), By Application (Food Services, Household), By Distribution Channel (Hypermarkets/Supermarkets, Online Retail, Departmental Stores) And Regional Forecast, 2024-2032

Ketchup is typically referred to as tomato ketchup made from tomatoes, sugar, and vinegar with seasonings and spices, which is used as a table condiment to fried or greasy dishes and usually served hot.

Over the past few years three countries lead the global export market of ketchup: the United States, the Netherlands, and Italy. These three alone provided more than half (52%) of the world’s supplies to the industry, supported by few other countries i.e., Germany, Spain and Poland for a total of about (15%). The United Kingdom, Canada, France, and others are some of the crucial import destinations for ketchup.

The changing lifestyle of consumers also includes increasing preference for ready-to-eat fast food items or quick bites which provides a boost to the market growth, the quick-service restaurants (QSR) joints offer kinds of ketchup to enhance the flavor of their dishes. There is also an increment in consumer inclination toward organic ketchup because consumers are becoming more health-conscious. This trend motivates the manufacturers to use chemical-free tomatoes and add natural sweeteners to form ketchup that’s rich in antioxidants, such as polyphenols, which help reduce the risk of Alzheimer's and heart diseases.

Though tomato ketchup is one condiment found and loved by people, the alarming part is that most of the store-bought tomato ketchup are unhealthy because they contain too much sugar, salt, and unhealthy fats. There are various healthier alternatives in the market like tomato salsa which is a Mexican dip and can be made by using simple veggies, most brands of salsa have little to no added sugars. Sriracha, a spicy tomato-based sauce, and tomato paste, an inexpensive tomato concentrates without any added sugar or sodium, these low cost substitutes are believed to restraint the growth of ketchup market.

Key Market Driver -

Rising popularity of quick-service restaurants (QSRs)

Key Market Restraint -

Increasing population of health-conscious customers and the presence of low-cost substitutes in the market.

Key Players Covered:

The key companies operating the global ketchup market are The Kraft Heinz Company, Nestle S.A., ConAgra Foods Inc., Unilever, General Mills Inc., Del Monte Food Inc., Kagome, Sky Valley Foods, Red Gold, COFCO Tunhe Co., Ltd, GD Foods, Chalkis Health Industry Co Ltd, and Red Duck Foods.

By product type, it is primarily split into original ketchup and flavored Ketchup. Though both original and flavored ketchup contains the same ingredients to be deemed “flavored”, certain United States Department of Agriculture (USDA) qualifications must be met, which must ultimately meet grade A standard. The high functional property and sustainability of regular ketchup will boost its market growth, it is also used as base for other sauces.

By application, the ketchup market is divided into food services and household consumption. The foodservice segment is predicted to grow at a considerable pace in the forthcoming years due to the increasing number of restaurants, cafes, and small eateries worldwide, especially in developing countries. The increased consumer interest in creating a similar culinary experience at home and high compatibility of ketchup with a lot of homemade and packaged or prepared food items are predicted to contribute to escalating the market size of the product.

By distribution channel, the market is separated into supermarkets/ hypermarkets, online retail stores, departmental stores, and others. The offline channels like supermarkets/ hypermarkets and departmental stores have emerged as a major sales channel for the ketchup market and they have a strong market share in the distribution channel. Manufacturers sell their products directly to distributors and retailers. Local businesses have a significant presence in the agricultural market. With the increase in demand for ketchup, major manufacturers and retailers are increasing their market share online by connecting directly with consumers. Advances in technology have led to an increase in online retailing, and the segment is expected to grow at an impressive CAGR during the forecast period.

Regional Analysis:

Asia Pacific market is expected to witness high growth in terms of revenue owing to consumer inclination towards western culture and increasing fast-food consumption. North America market holds a major revenue share in the global market due to the prevalence of many quick-service restaurants (QSRs), and the people of countries in this region also prefer ketchup variants. Moreover, presence of giant market players such as ConAgra Foods, General Mills and others in North America and their continuous innovation is further fuelling the sales of ketchup in the region.

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Segmentation

Key Industry Developments

• In 2020, Heinz tomato ketchup – the company has cut total sugars by 8% and salt by 40%. In addition to this, Kraft Heinz has taken a more overt approach for consumers seeking significant reductions with the rollout of Heinz Tomato ketchup with 50% fewer sugars and salt.


• In March 2018 a kickstarter campaign was launched for sliced ketchup i.e., “Slice of Sauce: A No-Mess “Slice” of Ketchup”. Their slice of ketchup are all natural with no artificial flavours, preservatives or high fructose corn syrup.