NEW YORK, Feb. 6, 2024 /PRNewswire/ — The canned food market is to grow by USD 29.44 billion from 2022 to 2027 progressing at a CAGR of 4.3% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is segmented by product (Canned fish and seafood, Canned vegetables, Canned meat, Canned ready meals, and Others), Distribution Channel (Offline and Online), and geography (Europe, North America, APAC, the Middle East and Africa, and South America). A. Clouet Australia Pty Ltd., Atria Plc, Bolton Group Srl, BONDUELLE SA, Campbell Soup Co., CHB Group, Conagra Brands Inc., Danish Crown AS, Del Monte Pacific Ltd., Eureden Co-operative Group, General Mills Inc., The Hain Celestial Group Inc., Hormel Foods Corp., The J.M Smucker Co., JBS SA, Jutai Foods Group Ltd., LA DORIA S.P.A., Nestle SA, Princes Ltd., and Thai Union Group PCL are key companies.
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- Bolton Group Srl – The company offers canned foods such as meat under its brand Simmenthal.
- Campbell Soup Co. – The company offers canned foods such as vegetables under its brand Pacific Foods.
- CHB Group – The company offers canned foods such as peach halves, peach slices, and peach dice.
The introduction of new products is a key factor driving growth. Market players in the canned food industry introduce new products to remain competitive and meet evolving consumer needs. This strategy enhances sales and market share, with examples like Thai Union’s limited-edition canned tuna with a Doraemon design and Campbell Soup Company’s introduction of a new Spicy Chicken Noodle Soup flavor in March and July 2021, respectively.
- Packaging-related innovations are a primary trend.
- The harmful effects of canned food consumption are a significant challenge restricting growth.
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- Canned Fish and Seafood is estimated to witness significant growth during the forecast period. The segment is expected to experience continuous growth, driven by the health benefits associated with canned seafood, which are comparable to fresh alternatives. The American Heart Association recommends consuming fish at least twice a week, contributing to the industry’s expansion. Additionally, the development of modern distribution channels and technological advancements in seafood processing, packaging, and storage further support market growth.
The canned food market covers the following areas:
Canned Food Benefits
Canned food offers several benefits, making it a popular choice for consumers and the food industry. It is known for its food preservation properties, providing shelf-stable products that are convenient and readily available. The canning industry plays a key role in producing a variety of canned foods, including packaged meals, processed food, preserved fruits, and canned vegetables. Canned food is appreciated for its long shelf life, making it a reliable option for food storage. It retains nutritional content and quality through effective canning methods and preservative techniques. The global food market recognizes canned food as part of sustainable packaging solutions, aligning with consumer preferences for convenience and quality assurance. Market trends in the food industry highlight the continued demand for canned food as a convenient and reliable food option.
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Five Forces Analysis
Segmentation by Product
Segmentation by Distribution Channel
Segmentation by Geography
Drivers, Challenges, & Trends
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