Canned Vegetable Market Report 2024 - Canned Vegetable Market Growth And Share

"The Business Research Company recently released a comprehensive report on the Global Canned Vegetable 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 vegetable market size has grown strongly in recent years. It will grow from $21.96 billion in 2023 to $23.06 billion in 2024 at a compound annual growth rate (CAGR) of 5%. The growth in the historic period can be attributed to consumers seeking more diverse flavor profiles and ethnic cuisines, there is a rising demand for premium and organic canned, the growing popularity of plant-based diets, consumers are increasingly looking for healthier food options, and rise in demand for convenience foods.

The canned vegetable market size is expected to see strong growth in the next few years. It will grow to $28.36 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to extreme weather events, changes in retail strategies, growing population, especially in urban areas, increased demand for convenient food options, economic stability, and increased awareness of health benefits. Major trends in the forecast period include functional ingredients and fortification, technological advancements, focus on clean labeling, innovative packaging solutions, and innovative flavors and ethnic varieties.

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Market Drivers and Trends:
The rise in consumption of various packaged food products is expected to propel the growth of the canned vegetable market going forward. Packaged food refers to items processed, preserved, and sealed in packaging for convenience, preservation, and distribution, often including various pre-cooked or ready-to-eat meals, snacks, and ingredients. Consumption of packaged food products is on the rise due to changing lifestyles, convenience demands, and the globalization of food markets, offering diverse options to consumers seeking quick and easy meal solutions. Canned vegetables simplify meal preparation and enhance flavor profiles. For instance, in June 2023, according to a report published by Euromonitor International, a UK-based research and analysis organization, the projected retail sales of packaged foods in Japan are expected to hit $235.9 billion by 2026, marking a 9.1% increase or $19.6 billion surge compared to 2022. Therefore, the rise in consumption of various packaged food products is driving the growth of the canned vegetable market.

Major companies in the canned vegetable market prioritize revenue growth by introducing innovative products with an organic canned vegetable offering. Organic canned vegetables are grown without synthetic pesticides or fertilizers, harvested at peak ripeness, and preserved in cans without added preservatives, maintaining their organic integrity. For instance, in December 2022, Green Thumb Inc., a US-based consumer packaged goods company, launched Take Root Organics. The Take Root Organics collection includes a variety of high-quality, Certified USDA Organic and Non-GMO Project Verified canned tomatoes harvested by family growers in California's Central Valley. The company produces various tomato products, including diced tomatoes, crushed tomatoes, whole peeled tomatoes, tomato sauce, and tomato paste. These tomatoes are vine-ripened and packed at their peak freshness, resulting in a rich, wonderful taste.

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Major Key Players of the Market:
Nestlé S.A., The Kraft Heinz Company, Dole plc, Del Monte Foods Inc., TreeHouse Foods Inc., Bonduelle SA, Whole Foods Market Inc., B&G Foods Inc., Goya Foods Inc., Seneca Foods Corporation, Hanover Foods Corp., Century Pacific Food Inc., Landec Corporation, CHB Group, Ban Mai company, Planet Green Holdings Corp., Cento Fine Foods Inc., Ayam Brand, Edinborough Products (Pvt) Limited, Libby's, Farmer's Market Foods, Mediterranea Belfiore SRL

Canned Vegetable Market 2024 Key Insights:
• The canned vegetable market size is expected to see strong growth in the next few years. It will grow to $28.36 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
• Rise In Packaged Food Consumption Fuels Growth Of Canned Vegetable Market
• Organic Canned Tomatoes And Sustainable Farming Innovations Drive Growth In Canned Vegetable Market
• North America was the largest region in the canned vegetable market in 2023

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This release was published on openPR.