Ketchup Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 17.17 Billion |
| Market Size (2029) | USD 21.04 Billion |
| CAGR (2024 - 2029) | 4.14 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Ketchup Market Analysis
The Ketchup Market size is estimated at USD 17.17 billion in 2024, and is expected to reach USD 21.04 billion by 2029, growing at a CAGR of 4.14% during the forecast period (2024-2029).
- The rising urbanization levels and the increasing disposable income have led many individuals to opt for on-the-go food. These food types are rapidly gaining popularity, especially among Generation Z and the millennials. Ketchup is a vital food item used across many fast-food types. Thus, these factors are likely to bring tremendous growth opportunities for the ketchup market in the coming years.
- Additionally, consumers' increasing preference for organic food, including ketchup, is driving the growth of the market. For instance, according to the Organic Trade Association, the sales of organic food amounted to approximately USD 57.5 billion in 2021 in the United States. Their growing concerns about the possible health risks of consuming artificial additives and genetically modified organisms (GMOs) have accelerated the consumption of sauces and condiments labeled as natural, organic, and non-GMO.
- Private-label ketchup brands have been performing better than well-established brands in many countries, such as the United Kingdom, France, Germany, and others. The major players are focused on providing new varieties to cater to changing consumer demands.
Ketchup Market Trends
This section covers the major market trends shaping the Ketchup Market according to our research experts:
Increasing Inclination Toward Organic Ketchup
- The growing demand for organic ketchup is one of the significant trends that is gaining market traction. The rise in health-conscious consumers due to their growing preference for organic products for their natural and healthy ingredients further fuels the market growth.
- Organic ketchup contains natural ingredients like salt, sweeteners, vinegar, and other organic flavors and spices. It also contains organic sugar instead of high fructose corn syrup. In addition, organic ketchup has thicker consistency and texture as compared to conventional ketchup and it has deep red color.
- The key players in the market have understood the changing needs of consumers and are investing in meeting those needs. Some companies providing organic ketchup include the Kraft Heinz Company, Annie's Homegrown Inc., and Orchard Lane. The increasing sales of organic ketchup have led to a rise in product innovation by firms.
- Unilever, a global powerhouse in the food industry, responded to consumer demand by acquiring Sir Kensington, a brand of organic and clean-label ketchup. To draw in additional customers, these organic ketchup companies concentrate on expanding their product offerings.
- For instance, in 2021, Sir Kensington launched two varieties of ketchup, i.e., classic and spicy, in the Canadian market. The products of this brand are made from tomatoes and organic sugarcane.
North America Holds the Largest Market Share
- North America holds a large share of the ketchup market. The evolving lifestyles and changing dietary habits of people, especially in developed countries, drive the growth of the market. Companies in the region generally do not use flavors other than tomato because tomato is native to North America, and the availability of tomatoes as raw material for ketchup is high in the region.
- According to the US Department of Agriculture (USDA), in the year 2021, the production value of tomatoes for the fresh market in the United States amounted to approximately USD 600.4 million. Also, consumers in the region prefer to use ketchup among all the other sauces and condiments.
- The consumption of ketchup is gaining popularity day by day due to the increasing change in food habits and the consumption of fast-food products like Chinese, continental, and other convenient snacking items. This shift toward spending less time on food preparation or opting for more convenient options will likely affect the growth of the ketchup market globally.
- Due to its ingenious and simple packaging, ketchup has gained popularity among consumers as a convenient substitute for other sauces and condiments.
Ketchup Industry Overview
The ketchup market faces high competition and is a fragmented market. The leading players in the market include Del Monte Foods Inc., Kraft Heinz Company, Conagra Brands Inc., Nestlé SA, and Unilever PLC. The key players have intensely embarked on industry consolidation by leveraging their distribution networks, entering partnerships with local distributors, especially in emerging economies, and developing new products with customization for different end-user industries. Moreover, these players focus on online distribution channels for their products, marketing, and branding to expand their geographic reach and customer base.
Ketchup Market Leaders
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Conagra Brands, Inc.
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The Kraft Heinz Company
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Unilever PLC
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Nestlé S.A.
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Del Monte Foods Holdings Limited
*Disclaimer: Major Players sorted in no particular order
Ketchup Market News
- June 2022: Heinz launched a range of new cold ketchup in Canada. It's the same iconic, slow-pouring ketchup, now cold, with a label that turns icy blue when it's perfectly chilled. The new product by Heinz was available at participating Wendy's locations in Canada for a limited duration and at selected grocery stores in specially-marked display fridges.
- May 2022: HEINZ, the maker of the world's favorite ketchup and beloved condiments, is teaming up with Pulpex to develop a paper-based, renewable and recyclable bottle made from 100 percent sustainably sourced wood pulp. Innovating its iconic ketchup bottle, HEINZ is the first sauce brand to test the potential of Pulpex's sustainable paper bottle packaging for its range of world-famous condiments.
- November 2021: The Kraft Heinz company launched a new ketchup, the Marz Edition ketchup, made with tomatoes grown under the Martian soil condition. The company claimed that the tomatoes used for the Marz Edition ketchup were grown in extreme temperatures and soil conditions similar to that of the Red Planet.
Ketchup Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Regular Ketchup
5.1.2 Flavored Ketchup
5.2 Packaging
5.2.1 Bottled
5.2.2 Pouch
5.3 Distribution Channel
5.3.1 On-trade (Foodservice)
5.3.2 Off-trade
5.3.2.1 Supermarkets/Hypermarkets
5.3.2.2 Convenience Stores
5.3.2.3 Online Retail Stores
5.3.2.4 Other Off-trade Channels
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Spain
5.4.2.2 United Kingdom
5.4.2.3 Germany
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 South Africa
5.4.5.2 United Arab Emirates
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Conagra Brands, Inc.
6.3.2 Del Monte Foods Holdings Limited
6.3.3 Unilever PLC
6.3.4 The Kraft Heinz Company
6.3.5 Nestlé S.A.
6.3.6 McCormick & Company, Incorporated
6.3.7 Windmill Organics Ltd
6.3.8 Wingreens Farms Private Limited
6.3.9 General Mills, Inc.
6.3.10 The Foraging Fox Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Ketchup Industry Segmentation
Ketchup is a sweet and tangy sauce usually made with tomatoes, sweeteners, vinegar, salt, various seasonings, spices, and other additives and is a very popular condiment.
The ketchup market is segmented by product type, packaging, distribution channel, and geography. Based on product type, the market is segmented into regular ketchup and flavored ketchup. Based on packaging, the market is segmented into bottled and pouch. Based on the distribution channel, the market is segmented into on-trade and off-trade channels. The on-trade channel comprises food service channels, while off-trade is further segregated into supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels. Based on geography, the market segments are North America, Europe, Asia-Pacific, South America, and Middle-East & Africa.
For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Product Type | |
| Regular Ketchup | |
| Flavored Ketchup |
| Packaging | |
| Bottled | |
| Pouch |
| Distribution Channel | ||||||
| On-trade (Foodservice) | ||||||
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| Geography | ||||||||
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Ketchup Market Research FAQs
How big is the Ketchup Market?
The Ketchup Market size is expected to reach USD 17.17 billion in 2024 and grow at a CAGR of 4.14% to reach USD 21.04 billion by 2029.
What is the current Ketchup Market size?
In 2024, the Ketchup Market size is expected to reach USD 17.17 billion.
Who are the key players in Ketchup Market?
Conagra Brands, Inc., The Kraft Heinz Company, Unilever PLC, Nestlé S.A. and Del Monte Foods Holdings Limited are the major companies operating in the Ketchup Market.
Which is the fastest growing region in Ketchup Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Ketchup Market?
In 2024, the North America accounts for the largest market share in Ketchup Market.
What years does this Ketchup Market cover, and what was the market size in 2023?
In 2023, the Ketchup Market size was estimated at USD 16.49 billion. The report covers the Ketchup Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Ketchup Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Ketchup Industry Report
Statistics for the 2024 Ketchup market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Ketchup analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
