Introduction
Because they are a fantastic source of vitamins, minerals, and antioxidants, tomatoes are one of the vegetables that are eaten the most frequently in the world. They can be eaten in many different ways, such as raw, cooked, tinned, and processed. By transforming fresh tomatoes into varied products including paste, sauce, juice and tomato sauce, the tomato processing business adds value to them. This report’s goal is to evaluate the technical and financial viability of a tomato processing operation that generates tomato juice, sauce, and paste. This analysis will examine the project’s profitability, revenue potential, investment cost, and market demand.
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Market Analysis
A key element that impacts any business’ success is market demand. A number of variables, such as population expansion, income levels, dietary choices, and consumer preferences, have an impact on the demand for tomato-related items. The market for tomato paste was valued at USD 2.5 billion in 2020, and from 2021 to 2028, it is anticipated to rise at a CAGR of 5.5%. (Grand View Research, 2021). The market for tomato sauce is expanding as a result of rising convenience food demand and the acceptance of ethnic cuisines. The market for tomato sauce was estimated to be worth USD 19.7 billion in 2020, and from 2021 to 2028, it is anticipated to rise at a CAGR of 3.8%. (Grand View Research, 2021). Parallel to this, the increased health consciousness among consumers is driving growth in the worldwide tomato juice industry. The market for tomato juice was estimated to be worth USD 6.5 billion in 2020, and from 2021 to 2028, it is anticipated to rise at a CAGR of 4.8%. (Grand View Research, 2021). In the upcoming years, the demand for tomato-based goods is anticipated to rise as a result of urbanisation, population growth, and shifting dietary preferences.
Related Business Plan: Tomato Products
Production Process
Products made from tomatoes go through a number of steps in the production process, including cleaning, sorting, crushing, heating, and packing. The tomatoes must first be cleaned and sorted to get rid of any debris, sand, or harmed fruit. The pulp is then extracted from the sorted tomatoes by crushing them, and it is heated to a high temperature to drive out superfluous water and intensify the tomato flavour. The concentrated tomato pulp is then put into cans, bottles, or tetra packs, among other packaging options. Specialized equipment is needed for the production process, such as crushers, pulpers, evaporators, and fillers. The quality of the raw material, the methods of processing, and the packaging all have an impact on the finished product’s quality.
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Investment Cost
The investment cost of a project to process tomatoes relies on a number of variables, including location, equipment cost, and production capacity. The following is the anticipated investment cost for a project with a 10 tonnes per day capacity:
Building and Land: $300,000
USD 500,000 for machinery and equipment
20,000 USD for working capital
Pre-Operative Costs: $50,000 USD
Provision: US$100,000
The project’s overall investment cost is pegged at USD 1.15 million.
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Revenue Potential
The market demand, selling price, and production volume all affect a tomato processing project’s potential revenue. The project’s potential for revenue is as follows:
5 tonnes of tomato paste are produced each day at a cost of $800 per tonne.
Revenue: US$1.2 million annually
3 tonnes of tomato sauce are produced each day at a cost of USD 1000 per tonne.
Revenue: US$1.1 million annually
2 tonnes of tomato juice are sold per day.
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