Tomato Juice Market

The global tomato juice market is expected to see an upward consumption trend over the next eight years, with a forecasted CAGR of +2.1% in volume and +4.3% in value from 2022 to 2030. Top consuming countries include India, Japan, and Canada, while top exporting countries include Spain and Italy. Import prices have shown an average growth rate of +1.8% annually, with notable differences in prices amongst importing countries. Export prices have also increased steadily, with Spain leading in value terms with a growth rate of +21.8% annually.

Market Forecast

Driven by rising demand for tomato juice worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market volume to 675K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $694M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Tomato Juice

In 2022, the amount of tomato juice consumed worldwide shrank to 572K tons, standing approx. at the year before. Overall, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 5%. Global consumption peaked at 582K tons in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

The global tomato juice market size totaled $495M in 2022, almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 4.8% against the previous year. Global consumption peaked at $518M in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were India (107K tons), Japan (72K tons) and Canada (60K tons), with a combined 42% share of global consumption. Ukraine, Germany, the United States, France, the UK, Egypt, Afghanistan, China and Kenya lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +23.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest tomato juice markets worldwide were Japan ($117M), India ($95M) and Canada ($36M), with a combined 50% share of the global market. The United States, Germany, Ukraine, China, France, Egypt, the UK, Afghanistan and Kenya lagged somewhat behind, together accounting for a further 29%.

The United States, with a CAGR of +27.4%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of tomato juice per capita consumption in 2022 were Canada (1,557 kg per 1000 persons), Ukraine (1,188 kg per 1000 persons) and Japan (575 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +23.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Tomato Juice

In 2022, global production of tomato juice amounted to 590K tons, approximately equating 2021. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 3.6%. Over the period under review, global production hit record highs in 2022 and is likely to see steady growth in the immediate term.

In value terms, tomato juice production rose notably to $493M in 2022 estimated in export price. Overall, production, however, saw a mild reduction. The most prominent rate of growth was recorded in 2020 with an increase of 35%. Over the period under review, global production attained the peak level at $661M in 2013; however, from 2014 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were India (107K tons), Japan (68K tons) and Canada (61K tons), with a combined 40% share of global production. Ukraine, Germany, the United States, Spain, France, Egypt, the UK, Italy, Afghanistan and China lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +18.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Tomato Juice

For the fourth consecutive year, the global market recorded decline in purchases abroad of tomato juice, which decreased by -7.8% to 75K tons in 2022. In general, imports saw a pronounced contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 14%. As a result, imports reached the peak of 122K tons. From 2014 to 2022, the growth of global imports failed to regain momentum.

In value terms, tomato juice imports rose modestly to $63M in 2022. Overall, imports recorded a slight slump. The pace of growth was the most pronounced in 2018 with an increase of 17% against the previous year. Over the period under review, global imports hit record highs at $87M in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The countries with the highest levels of tomato juice imports in 2022 were Germany (8.2K tons), the UK (5.9K tons), Japan (4.4K tons), the Netherlands (3.9K tons), Hong Kong SAR (3.6K tons), Latvia (3.2K tons), Russia (3.1K tons), Belarus (3K tons), Lithuania (3K tons), France (2.4K tons), Kazakhstan (2.2K tons) and Ukraine (2.1K tons), together amounting to 61% of total import. Belgium (2K tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +33.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest tomato juice importing markets worldwide were Germany ($5.8M), the UK ($4.7M) and Japan ($4.7M), with a combined 24% share of global imports. Hong Kong SAR, France, the Netherlands, Russia, Belgium, Latvia, Lithuania, Ukraine, Kazakhstan and Belarus lagged somewhat behind, together comprising a further 33%.

Ukraine, with a CAGR of +26.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average tomato juice import price stood at $839 per ton in 2022, rising by 10% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($1,110 per ton), while Belarus ($427 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Tomato Juice

After two years of decline, overseas shipments of tomato juice increased by 2.4% to 93K tons in 2022. Over the period under review, exports, however, continue to indicate a mild decrease. The growth pace was the most rapid in 2017 when exports increased by 18%. Over the period under review, the global exports reached the peak figure at 112K tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, tomato juice exports expanded significantly to $75M in 2022. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 18% against the previous year. Over the period under review, the global exports attained the peak figure at $81M in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, Spain (25K tons), distantly followed by Italy (13K tons), Poland (8.6K tons) and Germany (5.1K tons) were the main exporters of tomato juice, together constituting 55% of total exports. Mexico (3.9K tons), Turkey (3.3K tons), Russia (3K tons), Latvia (2.5K tons), the United States (2.2K tons), the Netherlands (2.2K tons), Guatemala (1.9K tons), Austria (1.9K tons) and Cyprus (1.9K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +35.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Spain ($21M) remains the largest tomato juice supplier worldwide, comprising 29% of global exports. The second position in the ranking was held by Italy ($10M), with a 14% share of global exports. It was followed by Mexico, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Spain amounted to +21.8%. In the other countries, the average annual rates were as follows: Italy (+4.0% per year) and Mexico (+43.5% per year).

Export Prices By Country

The average tomato juice export price stood at $808 per ton in 2022, picking up by 3.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2021 an increase of 14%. The global export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($1,281 per ton), while Latvia ($437 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform