Canned Vegetables Market – Industry Challenges, Key Vendors, Drivers, Trends and Forecast to 2023

Market Overview:

The demand for healthy convenience food is increasing. The canned vegetables are convenient as there is no need to wash, peel, and cut them. The working population of women and men is increasing, so the need for such convenience is growing at a significant rate. Improved consumer’s preference towards convenience foods is driving the market for canned vegetables, especially in Europe and North America. Advancements in technology and improved distribution network in the developing markets such as India and China has led to strong growth opportunities for the canned vegetable market. Canned vegetables are becoming more popular among health-conscious consumers as fiber content present in vegetables does not get affected by the canning process.

The outlook of the emerging markets transportation services industry is strong which will play a key role in canned vegetable market in upcoming years. As logistics and manufacturing costs continue to rise in traditionally popular areas such as China, new emerging markets take on increasing importance for the supply chain. While China maintains its place as the number-one emerging market, the United Arab Emirates (UAE) climbed four places to rest at number two. UAE offers a network of 34 free trade zones, and a friendly financial and tax environment for businesses. In addition, the country offers a vast pool of low-cost, skilled migrant labor, making it an ideal location for hubs and other logistics.

Due to the increasing demand of canned vegetables products, the market is growing at an incremental pace of development on the global stage. The demand for healthy convenience food is increasing in developing economies which is influencing the sales of canned vegetables. The canned vegetables are convenient as there is no need to wash, peel and cut it. The number of women and men working is on increase, so need for such convenience is the need of the day. The trend of making vegetable smoothies from canned vegetables will increase the sales of canned vegetables in upcoming years. Countries where there is shortage of fresh fruits and vegetables, canned vegetables are preferred and it is creating an opportunity for key players to penetrate the market.

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Latest Industry Updates:

Sep 2015 B&G to buy General Mills' Green Giant frozen foods business. Snack food company B&G Foods Inc. said it would buy General Mills Inc’s Green Giant frozen foods and Le Sueur canned vegetables brands for about $765 million to expand its distribution network and enter the frozen foods market. Green Giant, with a portfolio of more than 160 products, is the second-biggest frozen foods brand by market share in the United States and the largest in Canada.

May 2017 a recall popular of bagged salads produced at a single Dole Fresh Vegetables, Inc. has reportedly cost the company $25 million. The recalled salads were also sold under a number of store brand labels--Aldi, Kroger, Meijer and Walmart.

Oct 2016 Supermarket giant Coles has done agreement for sourcing an extra 6 million kilograms of Australian vegetables a year in a deal with food processor Simplot.

Oct 2017 Bonduelle, a France-based international vegetable supplier announced its annual financial results which shows the rise of sales rising sales especially after acquisition of U.S. based Ready Pac Foods.  The company is also planning to do more merger and acquisitions in upcoming year.

Major Key Players Analysis:

The canned vegetables market is competitive with major market players operating at the global level. The key industry players in the canned vegetables market have adopted the strategies such as geographical expansion, product launch, partnerships and acquisitions. Most of the companies operating in this market are focusing on expanding its operations across the geographies, augmenting its capabilities and investing in research and development to offer products with better functionality.

The key players profiled in global canned vegetables market report are Kyknos (Greece), Herfraga (Spain), Mediterranea Belfiore SRL (Italy), Banmai Co., Ltd (Viet Nam), Fujian Chenggong Canned Food Co, Ltd (China), Ukraininan Canning House (Ukraine), Casual Spain (Spain), Satko Sarl (Bulgaria), Shenzhen Mingjun Co, Ltd (China), and Domaine Les Bastidettes (France) among many others.

Segments:

The global canned vegetables market has been divided into type, form, application, and region.

On The Basis Of Type: Bulbs, Leaves, Roots, Flowers, Fruits, Stems, Tubers, Fungi, and Others

On The Basis Of Form: Sliced, Peeled,  Chopped and Others

On The Basis Of Application: Salads & soups, Culinary, Toppings & dressings, and others

On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.

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Regional Analysis:

APAC will witness maximum growth in the canned vegetables market followed by North America. Volume wise market size will continue to be higher under APAC region with more than half of market share. With increasing disposable incomes in India and China and growing demand for canned products will drive higher demand for canned vegetables. Europe will witness maximum growth in the canned fungi market followed by APAC. The demand for sealed and tamper-proof steel container vegetables in Europe is increasing as they don’t get affected by harmful bacteria and contaminants present in open environment. Changing consumption pattern due to busy lifestyle is also driving the growth of the market. Convenient packaging and longer shelf life compare to fresh food is boosting the growth of the canned vegetables market. Extensive marketing and distribution through organized retailing is attracting the consumer to buy canned vegetables globally.

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