Global Canned Food Market Set to Cross USD 172.44 Billion by 2028

Market Overview:

Global Canned Food Market size was valued at USD 124.2 Billion in 2021 and is projected to reach USD 172.44 Billion by 2028, growing at a CAGR of 4.8% from 2022 to 2028.

Canning is a preservation method that involves packaging foods in airtight containers, allowing them to be stored for extended periods. The demand for canned food is primarily driven by the growing urban population's preference for nutritious food that is high in protein, fiber, vitamins, and omega-3 fatty acids. Health-conscious consumers are willing to pay a premium for convenience, ready-to-cook canned meat, seafood, and organic fruits and vegetables. The expansion of food retail outlets, urbanization, and marketing strategies by industry players are expected to contribute positively to the growth of the canned food market in the coming years.

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Market Dynamics:

Driver:

The growing number of working women has resulted in increased consumer reliance on readily available ready meals and convenience foods. This has led to a significant rise in the demand for nutritious, shelf-stable packaged, and processed food, thereby driving the growth of the canned food market. These processed and packaged products have longer shelf lives, are ready-to-eat, and offer convenience during meal preparation. The growing working population, particularly in developed urban areas, is increasingly reliant on convenient and easy-to-use ready meals, leading to a surge in the demand for the canned food market in the foreseeable future.

Opportunities:

The increasing consumer awareness of the environmental impact of plastic packaging has led to a demand for sustainable and recyclable alternatives. Manufacturers are actively striving to provide a wide range of canned food products with excellent quality, taste, and nutritional value to maintain their competitive edge in the market. This rising awareness of plastic packaging issues, coupled with the growing demand for sustainable solutions and the global increase in recycling rates, presents a valuable opportunity and serves as a driving force for the canned food market.

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Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

Market Segmentation

By Product Type
• Canned Meat Products
• Canned Fish/Seafood
• Canned Vegetables
• Canned Fruits
By Distribution Channel
• Supermarkets/Hypermarkets
• Convenience Stores
• Online Retail Channels
By Nature
• Organic
• Conventional

Regional Analysis of Canned Food Market
The Asia Pacific region is expected to dominate the global canned food market in the projected years. Owing to growing disposable income and the busy lifestyle of consumers due to rising employment rate, the Asia Pacific region is retaining its dominance vastly. The growth in this region is derived from the rise in consumption practices of processed and packaged food products and beverages. The high consumer base as well as high population of working professionals in this region are most likely to boost the market growth over the projected time. Furthermore, the rapid urbanization as well as wide acceptance of westernized culture leads to a significant canned food market growth. In addition to this, the rise in millennial population, evolving dietary patterns and growing exposure to internet is expected to boost the rapid growth over the projected time.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Top Key Players Covered In Canned Food Market
• Bolton Group Srl (Italy)
• Campbell Soup Co (US)
• ConAgra Brands Inc (US)
• Del Monte Pacific Ltd (California)
• General Mills Inc. (Minnesota, US)
• Nestle SA (Switzerland)
• Princes Ltd (UK)
• The Hain Celestial Group Inc (New York)
• The J.M. Smucker Co (Ohio, US)
• The Kraft Heinz Co (Chicago, US)
• Danish Crown (Denmark)
• CHB Group (Cheltenham, UK)
• AYAM SARL. (Singapore)
• JBS S.A (Greeley, US), and other major players.

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Key Industry Development In The Canned Food Market
In January, 2022, As Growers of Good, Del Monte Foods, Inc. is to reduce the footprint of packaging by investing in new materials and redesigning existing materials. They further continued that, since 2009, they have been reducing use of plastics and metal, and today, only 4% of their packaging by weight contains any plastics; the rest is fully recyclable steel, glass or paper based.
In December, 2021, General Mills is executing its Accelerate strategy to drive sustainable, profitable growth and top-tier shareholder returns over the long term. The company is prioritizing its global platforms, core markets, and local gem brands that have the best prospects for profitable growth and is committed to reshaping its portfolio with strategic acquisitions, including its recent pet treats acquisition and European Yoplait divestiture, to further enhance its growth profile.

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