U.S.: Tomato Juice Market 2024

Tomato Juice Market Size in the U.S.

The U.S. tomato juice market rose markedly to $X in 2022, picking up by 7.2% against the previous year. Over the period under review, consumption continues to indicate significant growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Tomato Juice Production in the U.S.

In value terms, tomato juice production rose remarkably to $X in 2022. Overall, the total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.5% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 28% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Tomato Juice Exports

Exports from the U.S.

In 2022, overseas shipments of tomato juice increased by 14% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, faced a sharp downturn. The growth pace was the most rapid in 2017 when exports increased by 45% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tomato juice exports contracted notably to $X in 2022. Over the period under review, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for tomato juice exports from the United States, with a 69% share of total exports. Moreover, tomato juice exports to the Dominican Republic exceeded the volume sent to the second major destination, Japan (X tons), fourfold. The third position in this ranking was held by Belgium (X tons), with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Dominican Republic stood at +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+9.1% per year) and Belgium (+15.9% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for tomato juice exports from the United States, comprising 69% of total exports. The second position in the ranking was taken by Japan ($X), with a 14% share of total exports. It was followed by Belgium, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Dominican Republic stood at +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+8.3% per year) and Belgium (+15.6% per year).

Export Prices by Country

The average tomato juice export price stood at $X per ton in 2022, declining by -44.5% against the previous year. Over the period under review, the export price, however, enjoyed a measured expansion. The growth pace was the most rapid in 2020 when the average export price increased by 46%. The export price peaked at $X per ton in 2021, and then declined rapidly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tomato Juice Imports

Imports into the U.S.

In 2022, overseas purchases of tomato juice increased by 68% to X tons, rising for the second consecutive year after two years of decline. In general, imports posted a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of 79% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, tomato juice imports surged to $X in 2022. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 259%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

Mexico (X tons), Turkey (X tons) and Egypt (X tons) were the main suppliers of tomato juice imports to the United States, with a combined 93% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +27.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of tomato juice to the United States, comprising 62% of total imports. The second position in the ranking was held by Turkey ($X), with a 27% share of total imports. It was followed by Egypt, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico amounted to +47.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+40.0% per year) and Egypt (0.0% per year).

Import Prices by Country

In 2022, the average tomato juice import price amounted to $X per ton, jumping by 25% against the previous year. Overall, the import price saw a prominent expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 100%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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