Market Insights Consumer Food Sauces & Spices

Tomato Ketchup - Armenia

Armenia

Revenue in the Tomato Ketchup market amounts to €28.09m in 2024. The market is expected to grow annually by 8.65% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€5,572m in 2024).
In relation to total population figures, per person revenues of €10.11 are generated in 2024.
In the Tomato Ketchup market, volume is expected to amount to 18.60m kg by 2029. The Tomato Ketchup market is expected to show a volume growth of 6.5% in 2025.
The average volume per person in the Tomato Ketchup market is expected to amount to 5.3kg in 2024.

Key regions: United States, United Kingdom, Japan, South Korea, Canada

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Analyst Opinion

The Tomato Ketchup Market in Armenia is experiencing subdued growth, impacted by factors such as changing consumer preferences and increasing competition from other condiment options. Despite this, the market is expected to continue growing due to the convenience and versatility of ketchup in various dishes.

Customer preferences: Consumers in Armenia are increasingly seeking healthier and more natural food options, leading to a growing demand for organic and locally-produced tomato ketchup. This trend is driven by a desire for transparency and sustainability in food production, as well as a shift towards a more health-conscious lifestyle. Additionally, the rise of social media and influencer culture has influenced consumer preferences, with a focus on visually appealing and trendy food products.

Trends in the market: In Armenia, the Tomato Ketchup market is experiencing an increase in demand for healthier and organic options, as consumers become more health conscious. This trend is also seen in the global market, with the rise of plant-based ketchup alternatives. Additionally, there is a growing trend of premiumization, where consumers are willing to pay a higher price for premium and artisanal ketchup brands. This shift towards healthier and premium options is expected to continue, presenting opportunities for industry players to diversify their product offerings and cater to evolving consumer preferences.

Local special circumstances: In Armenia, the Tomato Ketchup market is heavily influenced by the country's traditional cuisine, which heavily utilizes tomatoes and other spices. This creates a strong demand for locally-sourced ketchup, as well as a preference for more flavorful and spicy varieties. Additionally, the country's small population and limited market size make it difficult for international brands to enter, allowing for local companies to dominate the market. The government's strict regulations on food imports also contribute to the unique dynamics of the Tomato Ketchup market in Armenia, fostering a strong demand for locally-produced and regulated products.

Underlying macroeconomic factors: The Tomato Ketchup Market of the Sauces & Spices Market within The Food market is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. For instance, countries with a strong focus on promoting healthy eating habits and investing in agricultural infrastructure are experiencing higher demand for tomato ketchup. On the other hand, regions with high tariffs on imported goods and unstable economic conditions may see a decline in the demand for tomato ketchup. Additionally, the increase in disposable income in developing countries has led to a rise in demand for convenience foods, which includes tomato ketchup.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.