Canned Food Market Estimated to Exceed  US$ 114.38 Billion by 2027: IMARC Group

IMARC Group's latest research report, titled "Canned Food Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

The global canned food market reached a value of US$ 93.37 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 114.38 Billion by 2027, exhibiting a CAGR of 3.30% during 2022-2027. Canning food products utilize a certain preservation method that includes sealing and sterilizing food products, such as meats, vegetables, soups and sauces, lentils, pasta, seafood, fruits, sweets, desserts, and beans, in airtight containers. It relies on processing, sealing processed food in cans, and heating cans to kill harmful bacteria. Additionally, it aids in preserving the nutrients of food products and preventing decomposition due to external factors, including air and sunlight, while increasing their overall shelf life. At present, canned food products have become one of the most preferred choices among the masses due to the enhanced convenience offered by them.

The COVID-19 pandemic has severely affected the canned food market. Numerous countries across the globe faced mandatory lockdowns, amidst which the food product availability gradually lessened. This led to an increase in product prices and negatively affected the consumer's purchasing power. Stringent rules and regulations imposed by governments across the countries for purchasing essential items led to a decline in the sales of various food and beverages. The manufacturing facilities being shut down and the less workforce available in the functioning production houses also led to a decline in overall production. Due to the pandemic, the food and beverage sector was significantly affected due to the disruption in the supply chain, thus affecting the global canned food market.

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Important Attribute and highlights of the Report:

Detailed analysis of the global market share
Market Segmentation by product type, type and distribution channel.
Historical, current, and projected size of the market in terms of volume and value
Latest industry trends and developments
Competitive Landscape for canned food market
Strategies of major players and product offerings

The global market is majorly driven by the growing demand for instant and convenient ready-to-eat food and beverages. This can be attributed to the busy schedules and hectic lifestyles of working professionals. Along with this, the increasing demand for healthy food rich in functional fibers, omega-3 fatty acids, and proteins and the growing health consciousness among the masses are significantly supporting the market globally. Moreover, the escalating number of large retail formats, such as supermarkets and hypermarkets, is creating a positive market outlook. Some of the other factors driving the market further include the changing lifestyles of individuals, increasing demand for canned fish products among fitness-conscious individuals, and the widespread availability of canned food.

Key Players Included in Global Canned Food Market Research Report:

Ayam Sarl
Bonduelle
Campbell Soup Company
CHB Group
Danish Crown AmbA
Del Monte Foods Inc.
JBS S.A.
Nestlé S.A
Princes Foods (Mitsubishi Corporation)
Thai Union Group PCL
The Bolton Group and The Kraft Heinz Company

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COVID-19 Impact Overview:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Key Market Segmentation:

Breakup by Product Type:

Canned Meat and Seafood
Canned Fruit and Vegetables
Canned Ready Meals
Others

Breakup by Type:

Organic
Conventional

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
E-commerce
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

TOC for the Canned Food Market Research Report:

Preface
Scope and Methodology
Executive Summary
Introduction
Global Canned Food Market
SWOT Analysis
Value Chain Analysis
Price Analysis
Competitive Landscape

Contact us:

IMARC Group

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Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.