Market Outlook
The tomato powder market size is expected to garner an income of USD 1842.15 Million by 2027, with a CAGR of around 3.77% during the estimated time of 2021–2027.
Tomato is handled into dried powder for use in various food and drink applications, as a fixing, is alluded to as tomato powder. Flooding interest for normal fixings in food items and refreshments is among the essential determinants driving the market development of tomato powder. Tomato powder is manufactured by dehydrating tomato and creating a fine powder. Tomato powder is one of the most widely used ingredients in the food and beverage industry. It is rich in flavor which has increased its application in various product lines such as seasonings and savories, soup mixes, snack foods, curries and gravies, baby foods, and many more.
Tomato powder has a higher shelf life compared to other tomato extracts which are driving the growth of the tomato powder market. Apart from its use in the food industry, tomato powder is also applicable in the cosmetic industry for its high nutrient and antioxidant properties which are adding fuel to the growth of the tomato powder market.
Market Forecast
The Tomato powder market has a wide range of applications in the food and beverage industry owing to its rich flavoring attribute. Moreover, tomato contains a lot of health-promoting phytochemicals and is rich in antioxidants which help to keep skin cells healthy and keep aging at bay. This has contributed to the growth of the tomato powder market in the cosmetic industry. Moreover, its use as a health supplement is bringing a surge in the tomato powder market.
Furthermore, changing lifestyle and an increasing number of working populations is escalating the demand for processed foods which in turn surges the tomato powder market. Additionally, a focus on RD will contribute to the growth of the tomato powder market. All these factors are projected to contribute to the estimated CAGR of 9.6% of the tomato powder market during the forecast period 2021-2028.
Regional Analysis
The global tomato powder market is segmented into North America, Europe, Asia Pacific, and the rest of the world (RoW). Asia Pacific market is dominating the tomato powder market followed by North America. In the Asia Pacific, China is the major producer and consumer of tomato powder followed by India. In China, tomato powder is used as a major ingredient for adding tomato flavor in various fast-food dishes. Moreover, tomatoes are an integral part of American diets and are used in every recipe which has opened doors for the tomato powder market in this region.
Moreover, Europe is experiencing moderate growth in the tomato powder market owing to the changing lifestyle and changing consumption patterns among consumers. Moreover, Spain and the Netherlands are experiencing increasing production of tomatoes which is contributing to the growth of tomato powder in these regions.
Downstream Analysis
Tomato powder is segmented since the product of the process includes a hot break, cold break, and warm break. Among all, the hot break is projected to be the fastest-growing segment as it produces a denser and more viscous product when reconstituted and can be used in functional foods and nutrition applications.
Based on application, tomato powder is segmented as seasoning and savories, soup mixes, snack foods, curries and gravies, baby foods, and others. The seasoning and savories market is expected to be the fastest-growing segment owing to the increased consumption of seasoning and savories in the market.
Competitive Analysis
The major players in the tomato powder market
- Grupo Empresarial Agraz, S.L. (Spain)
- Garlico Industries Ltd. (India)
- Aarkay Food Products Ltd. (India)
- Lycored (U.K.)
- Hangzhou Qincheng Trade Co. Ltd (Beijing)
- Cmec Xinjiang Foodstuff Co. Ltd. (China)
- BATA FOOD (Turkey)
Focus on RD will contribute to the growth of the tomato powder market. Moreover, increasing the application of tomato powder will attract new players in the market which will drive the growth of the tomato powder market
Market Segmentation
Tomato Powder Market is segmented because of product process, application, and region.
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