Global ketchup sales expected to grow steadily
From 2017 to 2021, the global ketchup market is expected to grow at a compound annual growth rate (CAGR) of close to 5 percent, according to a new market research study by London-based Technavio.
Private brand ketchup sales, plus increasing demand for organic ketchup, are driving much of the growth, the report stated.
“Private label brands are considered to provide value for money as they are similar in quality to the branded products but are priced lower than branded ketchup,” said Technavio food research analyst Manjunath Reddy. “Grocery retailers gain greater profit margins from private label products than from well-established brands. Private labels are reasonably priced and more affordable for the consumers. Despite the cost advantage, consumers still look for quality and safety in private label products.”
To learn about private brand ketchup sales in the United States, see the “Trend Watch” feature on ketchup on page 32 of Store Brands’ December issue.