The new report by Expert Market Research titled, ‘Global Canned Food Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global canned food market price, assessing the market based on its segments like product type, type, distribution channel, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 102.72 billion
• Forecast CAGR (2023-2028): 3.97%
• Forecast Market Size (2027): USD 129.75 billion
The growth of the global market for canned food is driven by the growing demand for the organic, clean labelled, hygienic, and ready-to-cook food. The increasing health awareness among young population is further anticipated to propel the demand for canned fruits, vegetables, and other products over the forecast period. Additionally, the market is further aided by the increasing demand from consumers for the ready-to-eat products and ready-to-cook products from emerging nations.
The factors such as hectic lifestyle and increasing inclination of consumers towards consumption of convenience foods are anticipated to bolster the market growth over the forecast period.
Canned food refers to the food products which are preserved using the canning method for extending the shelf life of fresh products. Canned foods are increasingly used for food storages due to its cost effectiveness and durable nature. Moreover, canned foods enhance the convenience while providing same nutrition value as fresh food.
The major product types of canned food are:
• Canned Fruits and Vegetables
• Canned Meat and Seafood
• Canned Ready Meals
The market can be broadly categorised on the basis of its types into:
Based on distribution channels, the market is divided into:
• Convenience Stores
The regional markets for canned food include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
During the forecast period, North America is expected to lead the global canned food market. This is due to a large consumer base for canned food, established supply chain infrastructure, the growing popularity of convenience foods, and the presence of important businesses in the region. Because of the huge demand for canned fruits, vegetables, and other marine foods, North America is expected to be followed by Europe. Meanwhile, due to reasons such as a huge population base, increasing urbanisation, and rising acceptability of canned food consumption, Asia Pacific is predicted to develop at the quickest rate in the future years.
Key Market Players
The major players in the market are ConAgra Brands, Inc., The Kraft Heinz Company, Nestle S.A., Del Monte Foods, Inc., Princes Foods, CHB Group and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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