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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 3.97%
The growth of the canned food industry is being driven by the increasing health-consciousness, which, in turn, is surging the demand for canned fruits, vegetables, and poultry products. With the increasing availability of canned food products due to the expansion of distribution channels, their incorporation in various food and beverage products is surging, hence fuelling the market growth. Moreover, the rising demand for rapid consumer services is surging the use of canned food in quick-service restaurants and fast-food chains, which is aiding the growth of the market. In addition, the increased demand for non-perishable food products during the COVID-19 pandemic is surging the awareness regarding the benefits of canned food, thus catalysing the industry growth.
Industry Definition and Major Segments
Canned food refers to packaged food products that use canning as a food preservative method. It retains the nutritional component of vegetables, fruits, and poultry meals, due to which it is increasingly consumed by the health-conscious population. Moreover, canned food is cost-effective, convenient, and easy-to-consume.
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Based on types, the canned food is divided into:
• Canned fruits and vegetables
• Canned Meat and Seafood
• Canned Ready Meals
The major types of canned food into:
By distribution channels, the market is classified into:
• Convenience Stores
The regional markets of canned food are:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The market for canned food is being aided by the growing demand for canned food due to the rising demand for non-perishable food to combat the rising food wastage. Although some canned food contains high amounts of sugar and sodium, the development of innovative canned food products with no sugar or sodium content is propelling the market growth. The growing environmental-consciousness is increasing the demand for canned food with eco-friendly packaging, which is estimated to drive the market growth. Moreover, the use of innovative production techniques and machinery to utilise recycled materials cost and time-effectively is anticipated to provide further impetus to the growth of the market.
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, and CHB Group, among 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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