Press release
Canned Lamb: A Game-Changer in Convenient Protein Solutions
The Business Research Company recently released a comprehensive report on the Global Canned Lamb Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.According to The Business Research Company's, the canned lamb market size has grown strongly in recent years. It will grow from $1.48 billion in 2023 to $1.55 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. the growth in the historic period can be attributed to increased convenience demand, growth in urbanization, increased stockpiling and demand for non-perishable food during COVID-19, increasing consumer awareness of the nutritional benefits of lamb, and rising economic levels in developing countries.
the canned lamb market size is expected to see strong growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. the growth in the forecast period can be attributed to a growing focus on protein-rich diets, continued improvements in canning processes and preservation techniques, aggressive marketing and promotional strategies, the popularity of paleo and diets increasing demand, ongoing global concerns about food security favoring long-shelf-life products. Major trends in the forecast period include innovations in canning technology, increasing sales through online platforms, the introduction of new flavors, new product launches and develop grass-fed options.
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Market Drivers and Trends:
The rising consumption of meat is expected to propel the growth of the canned lamb market going forward. The increasing consumption of meat is linked to rising incomes, urbanization, and changing dietary preferences globally. Canned lamb is contributing to the rising consumption of meat by offering a convenient, long-lasting option for consumers, thereby increasing accessibility and availability. For instance, in July 2023, according to the Food and Agriculture Organization, an Italy-based specialized agency for nutrition and food security, global meat production reached up to 365 million metric tons (carcass weight equivalent) in 2022, showing around 0.8% growth in global meat production compared to 2021. Therefore, the rising consumption of meat will drive the growth of the canned lamb market.
Major companies operating in the canned lamb market are focused on developing innovative canned lamb products, such as organic canned lamb, to meet rising consumer demand for healthier and more sustainable food options. Organic canned lamb refers to lamb meat that is raised without synthetic pesticides, hormones, or antibiotics and is processed and preserved in a can while adhering to organic farming standards. For instance, in October 2022, Future Meat Technologies, an Israel-based biotechnology company that manufactures cultured meat, developed lab-cultivated lamb meat by using non-GMO technology. The tapping proprietary technology was used to cultivate these meat lambs that can be used as an alternative for application in burgers and kababs.
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Major Key Players of the Market:
Tyson Foods Inc., Hormel Foods Corp., Perdue Farms Inc., Alliance Group Limited, AFFCO Holdings Limited, Stahly Quality Foods Ltd., Treats Unleashed Inc., Evanger's Dog And Cat Food Co., Tuffy's Pet Foods Inc., Muhubrands.com, New Zealand Lamb Company, AlexMeat & Provision Inc., Calibra Inc., Hound & Gatos Company, Wellness Pet Company Inc., Perfect Companion Group (PCG), Fortan GmbH & Co. KG., SmartHeart Pro, Caledonian Kitchen Limited, Leos Pet Her Hakk Sakldr
Canned Lamb Market 2024 Key Insights:
• The canned lamb market size is expected to grow to$1.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Rising Meat Consumption Drives Growth In The Canned Lamb Market
• Lab-Cultivated Options Enhanced Canned Lamb Market
• North America was the largest region in the canned lamb market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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