Ketchup is a good source of antioxidant compounds which helps preventing various diseases. Ketchup is sweet and tangy sauce and widely popular condiment typically made by using tomatoes, sweetener, vinegar, salt, assorted seasonings, spices, and other additives. Ketchup is a good source of antioxidant compounds which help in preventing colon and prostate cancers and various other diseases.
Key factors driving growth of the global ketchup market include changing eating habits, increasing adoption of western lifestyle & culture, and increased inclination towards exotic flavors of ketchup. In addition, ketchup is most common offering and an excellent accompaniment to various fast-foods, side dishes, and snacks which is further fueling growth of the global ketchup market. However, few factors such as presence of various other condiments, threat of low-cost substitutes by local players, and low consumption of foods containing sugar are factors challenging growth of the global ketchup market.
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Ketchup market has good opportunities in food market owing to increasing popularity of quick-service restaurants (QSRs) and innovation of ketchup made with organic products. Some ketchup companies are introducing organic variants of ketchup made from organically grown tomatoes to target health-conscious consumers and thus increase their consumer base. These organic tomatoes are free of pesticides and harmful chemicals to a great extent. In addition, they are richer in antioxidant compounds, such as polyphenols which help in reducing risk of Alzheimer, heart diseases and delays aging. Strategies of strong business players include new product launches, constant innovation in ketchup flavors, and mergers and acquisitions with smaller level players.
North America market holds major revenue share in the global ketchup market owing to prevalence of fast-food joints and QSRs coupled with preference of huge population base for variants of ketchup in countries of this region. Asia Pacific is expected to witness high growth in terms of revenue owing to increasing consumption of fast-food coupled with inclination towards various types of ketchup.
Among the distribution channel segments, supermarkets segment holds higher share owing to rising preference of supermarkets over other distribution channels for monthly grocery shopping under one roof. And among the product ingredient type segments, tomato ketchup is the most popular type.
Key players include ConAgra Foods, Del Monte Foods, HUL, Kraft Heinz, Annie’s Homegrown, Bolton Group, Campbell Soup Company, General Mills, Kagome, Kensington and Sons, Nestle India, Organicville, and Red Duck Foods.