The global canned food market size was valued at USD 94.61 Billion in 2022 and is expected to reach USD 106.27 Billion by 2031, expanding at a CAGR of around 1.30% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing preference for convenient food products.
Canned food is food which is preserved for long period by packing them in airtight containers. Three steps that are involved in production of canned food are processing, sealing, and heating. In processing, food is sliced, peeled, chopped, boned, pitted, and cooked.
In sealing, the processed food is sealed in airtight cans. In heating process, cans are heated to prevent spoilage and kill harmful bacteria. Generally vegetables, fruits, beans, meats, soups, and seafood get canned. Canning food reserves most of the nutrients.
The COVID-19 outbreak has changed consumer demand and changed purchasing patterns. Moreover, it has led to the re-routing of the supply chain and interventions of government state bodies to ensure food safety.
Canned Food Market Dynamics
Major Drivers
Increasing awareness about the negative impacts of plastic packaging and the growing recycling rate worldwide and demand for feasible solutions are estimated to propel the market growth. The rising urban population and demand for healthy foods that are rich in vitamins, proteins, functional fibers, and omega-3 fatty acids are anticipated to spur the growth of the market. Growing awareness about benefits of canned food such as preservation of protein and vitamin content, contributes to the growth of the market.
Existing Restraints
Usage of high amount of preservatives can cause severe health issues, restraining the market growth. Progressive change in behavior of the customer require continuous innovation to attract the customer can create the challenges for market growth.
Emerging Opportunities
Canned food provides good health and wellness and is cost-effective which is expected to create lucrative opportunities for the market players. Canned food offers health benefits which makes it a convenient food option moreover, it focuses on providing less expensive food options. It also provides recyclable packaging options, some key players are focusing on sustainable food packaging to reduce the risk of environmental thus creates opportunities in the forecast period.
Scope of Canned Food Market Report
The report on the global canned food market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Canned Food Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Type (Canned Fish/Seafood, Canned Meat Products, Canned Fruits, Canned Vegetables, and others), Processing Type (Organic and Conventional), and Distribution Channel (Convenience Stores, Online retail channels, Supermarket/Hypermarket, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Universal Canning Incorporated.; CAMPBELL SOUP COMPANY.; Bolton Group; Conagra Brands, Inc.; The Kraft Heinz Company.; Nestlé; Princes Foods.; chb.gr.; Del Monte Foods, Inc; JBS S.A.; Danish Crown; Ayam Sarl.; Bonduelle; Thai Union Group PCL.; StarKist Co.; Bumble Bee Foods, LLC.; and Connors Bros. |
Canned Food Market Segment Insights
Product Type Segment Analysis
On the basis of product type, the market is classified as canned fish/seafood, canned meat products, canned fruits, canned vegetables, and others. The canned fish/seafood segment is anticipated to grow at a rapid pace during the forecast period due to the presence of lean protein. Moreover, the rising trend of ready-to-eat products is driving the growth of the market segment.
Processing Type Segment Analysis
Based on processing type the market is bifurcated into organic and conventional. The organic canned food segment is expected to expand with a significant growth rate during the forecast period. Organic canned food is free from preservatives and chemicals and made with completely fresh ingredients. These are preserved without any color or synthetic preservatives including baby corn, meat, coconut milk, and others. Organic canned food is better for human health than non-organic canned food which is expected to drive the segment growth.
Distribution Channel Segment Analysis
In terms of distribution channel, the global canned food market is segregated into convenience stores, online retail channels, supermarket/hypermarket, and others. The supermarkets/hypermarkets segment is projected to expand at a considerable CAGR during the forecast period. Supermarkets and hypermarkets shopping offer convenience owing to the presence of well-organized brands and assistance in buying. The governments worldwide are pushing the processing and production of seafood, to empower the coastal community and raise their living, stimulating the market segment growth.
Regional Analysis
Based on regions, the market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the forecast period due to the advantages of canned seafood such as high durability. Moreover, rising demand for ready-to-eat seafood and meals is anticipated to proliferate the market growth in the region.
Segments
Product Type
- Canned Fish/Seafood
- Canned Meat Products
- Canned Fruits
- Canned Vegetables
- Others
Processing Type
Distribution Channel
- Convenience Stores
- Online Retail Channels
- Supermarkets/Hypermarkets
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Universal Canning Incorporated.
- CAMPBELL SOUP COMPANY.
- Bolton Group
- Conagra Brands, Inc.
- The Kraft Heinz Company.
- Nestlé
- Princes Foods.
- chb.gr.
- Del Monte Foods, Inc
- JBS S.A.
- Danish Crown
- Ayam Sarl.
- Bonduelle
- Thai Union Group PCL.
- StarKist Co.
- Bumble Bee Foods, LLC.
- Connors Bros.
Competitive Landscape
The key players competing in the canned food market are Universal Canning Incorporated.; CAMPBELL SOUP COMPANY.; Bolton Group; Conagra Brands, Inc.; The Kraft Heinz Company.; Nestlé; Princes Foods.; chb.gr.; Del Monte Foods, Inc; JBS S.A.; Danish Crown; Ayam Sarl.; Bonduelle; Thai Union Group PCL.; StarKist Co.; Bumble Bee Foods, LLC.; and Connors Bros.
Companies are focusing on expanding their distribution channels and developing healthy products to expand their market share.
- In April 2022, The Kraft Heinz Company, the owner of the Heinz and Quero brands in Brazil, announced the acquisition of a majority stake in Companhia Hemmer Indústria e Comércio, a Brazilian food company focused on condiments and sauces after the deal was approved without restriction by CADE (Brazil’s Administrative Council for Economic Defense), Brazil’s antitrust body. The acquisition focuses on enhancing the growth of both companies. Hemmer will get the advantage from Kraft Heinz's distribution network including its growing food service channel.
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