IndexBox has just published a new report: ‘Spain – Tomato Ketchup And Tomato Sauces – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

The revenue of the tomato ketchup market in Spain amounted to $280M in 2018, shrinking by -5.1% against 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). In general, tomato ketchup consumption, however, continues to indicate a measured setback. The growth pace was the most rapid in 2009 with an increase of 7.2% y-o-y. Tomato ketchup consumption peaked at $432M in 2011; however, from 2012 to 2018, consumption remained at a lower figure.

Market Forecast 2019-2025 in Spain

Driven by increasing demand for tomato ketchup in Spain, the market is expected to continue an upward consumption trend over the next seven years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.4% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 279K tonnes by the end of 2025.

Production in Spain

In 2018, the production of tomato ketchup and tomato sauces in Spain stood at 334K tonnes, going up by 4.6% against the previous year. Overall, tomato ketchup production continues to indicate mild growth. The most prominent rate of growth was recorded in 2016 when production volume increased by 6.9% year-to-year. Over the period under review, tomato ketchup production reached its maximum volume in 2018 and is expected to retain its growth in the immediate term.

In value terms, tomato ketchup production totaled $304M in 2018 estimated in export prices. In general, tomato ketchup production continues to indicate a drastic downturn. The growth pace was the most rapid in 2011 when production volume increased by 6.2% year-to-year. In that year, tomato ketchup production attained its peak level of $492M. From 2012 to 2018, tomato ketchup production growth remained at a lower figure.

Exports from Spain

In 2018, the tomato ketchup exports from Spain amounted to 88K tonnes, going up by 20% against the previous year. Overall, the total exports indicated a temperate expansion from 2008 to 2018: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, tomato ketchup exports increased by +40.4% against 2016 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 39% against the previous year. Over the period under review, tomato ketchup exports attained their peak figure in 2018 and are expected to retain its growth in the near future.

In value terms, tomato ketchup exports stood at $123M (IndexBox estimates) in 2018. In general, the total exports indicated a modest increase from 2008 to 2018: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, tomato ketchup exports increased by +80.2% against 2016 indices. The pace of growth was the most pronounced in 2018 when exports increased by 67% year-to-year. In that year, tomato ketchup exports attained their peak and are likely to continue its growth in the immediate term.

Exports by Country

France (53K tonnes) was the main destination for tomato ketchup exports from Spain, with a 60% share of total exports. Moreover, tomato ketchup exports to France exceeded the volume sent to the second major destination, the UK (6.6K tonnes), eightfold. The Netherlands (5.6K tonnes) ranked third in terms of total exports with a 6.4% share.

From 2008 to 2018, the average annual rate of growth in terms of volume to France amounted to +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+7.9% per year) and the Netherlands (+7.1% per year).

In value terms, France ($81M) remains the key foreign market for tomato ketchup exports from Spain, comprising 66% of total tomato ketchup exports. The second position in the ranking was occupied by Portugal ($6.1M), with a 5% share of total exports. It was followed by the Netherlands, with a 4.9% share.

From 2008 to 2018, the average annual growth rate of value to France amounted to +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+0.0% per year) and the Netherlands (+4.6% per year).

Export Prices by Country

The average tomato ketchup export price stood at $1,398 per tonne in 2018, rising by 39% against the previous year. Overall, the tomato ketchup export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 39% year-to-year. The export price peaked at $1,518 per tonne in 2008; however, from 2009 to 2018, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was France ($1,543 per tonne), while the average price for exports to the UK ($776 per tonne) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to France, while the prices for the other major destinations experienced a decline.

Imports into Spain

In 2018, the imports of tomato ketchup and tomato sauces into Spain amounted to 24K tonnes, lowering by -3.8% against the previous year. Over the period under review, the total imports indicated a pronounced increase from 2008 to 2018: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, tomato ketchup imports decreased by -14.6% against 2015 indices. The pace of growth was the most pronounced in 2015 with an increase of 68% y-o-y. Over the period under review, tomato ketchup imports attained their maximum at 29K tonnes in 2010; however, from 2011 to 2018, imports stood at a somewhat lower figure.

In value terms, tomato ketchup imports stood at $32M (IndexBox estimates) in 2018. Over the period under review, tomato ketchup imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 26% y-o-y. Imports peaked at $36M in 2010; however, from 2011 to 2018, imports failed to regain their momentum.

Imports by Country

The Netherlands (7.6K tonnes), Poland (4.5K tonnes) and the UK (3.8K tonnes) were the main suppliers of tomato ketchup imports to Spain, with a combined 65% share of total imports.

From 2008 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by the UK, while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($9.9M), Poland ($6.8M) and the UK ($4.4M) appeared to be the largest tomato ketchup suppliers to Spain, together accounting for 66% of total imports.

In terms of the main suppliers, Poland recorded the highest rates of growth with regard to imports, over the last decade, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average tomato ketchup import price amounted to $1,307 per tonne, growing by 5.9% against the previous year. Overall, the tomato ketchup import price, however, continues to indicate a moderate reduction. The pace of growth was the most pronounced in 2011 an increase of 23% y-o-y. Over the period under review, the average import prices for tomato ketchup and tomato sauces attained their maximum at $1,701 per tonne in 2008; however, from 2009 to 2018, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2018, the highest prices were recorded for prices from Germany ($1,629 per tonne) and Poland ($1,521 per tonne), while the price for Portugal ($1,087 per tonne) and the UK ($1,148 per tonne) were amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform