The Europe Tomato Ketchup Market would witness market growth of 1.9% CAGR during the forecast period (2022-2028).
Smart appliances are improving all the time, and as more people prioritize energy saving at home, more restaurant owners are looking to do the same at work. In 2022, many fast-food restaurants have already installed or are actively planning to install smart appliances. These devices are designed to cook faster and more efficiently while conserving energy and increasing operating efficiency.
Artificial Intelligence (AI) is being more widely used across many industries, and fast-food businesses are following suit. Voice-command tools for ordering food, for example, are scheduled to be available soon. Customers will be able to place orders and obtain recommendations from a programmed system when AI technology is applied in the fast-food industry since AI technology is intuitive. Increasing usage of artificial intelligence in the kitchen, the ordering process, and on the restaurant floor will be among the most exciting and inventive innovations in the fast-food sector in 2022. The fast food business is also expected to benefit massively from the adoption of AI. The growth of the fast food business is likely to propel the demand for tomato ketchup in the future.
Fast food restaurants are growing in popularity in Greece, Portugal, and Sweden, occasionally displacing sit-down eateries (FAS, 1996e, 1996f, 1997). Mediterranean countries are consuming more processed foods, and processed meat consumption as a percentage of overall meat consumption is increasing across Europe.
Fast food is becoming more popular among teenagers, who prefer to dine out rather than cook at home. Furthermore, the region's tourism sector is thriving, providing lucrative chances for important market participants to expand their footprint across the region. Over the predicted term, this will boost the regional fast food market even more. And the boost of the fast food market will lead to an increase in the demand for tomato ketchup in the region in the upcoming period.
Furthermore, the expansion of the regional tomato ketchup market will be accelerated in the next years as the number of fast food chains, restaurants, and hotels increases. Over the projection period, expanding urbanization, rising working population, developing dining out culture, and changing consumer meal patterns are some of the primary drivers driving the regional fast food market forward.
The Germany market dominated the Europe Tomato Ketchup Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,521.7 million by 2028. The UK market is poised to grow at a CAGR of 1.1% during (2022 - 2028). Additionally, The France market would display a CAGR of 2.6% during (2022 - 2028).
Based on Product Type, the market is segmented into Regular and Flavored. Based on Packaging, the market is segmented into Bottled and Pouch. Based on Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Tomato Ketchup Market Size will Hit $24.1 Billion by 2028, at a CAGR of 2.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include McCormick & Company, Inc., Conagra Brands, Inc., Nestle S.A., The Kraft Heinz Company, Unilever PLC, Del Monte Pacific Limited, Bolton Group S.r.l, Campbell Soup Company, General Mills, Inc., and Premier Foods PLC.
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