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Canned Meat Market Expansion Continues, with Forecast Valuation of $24.45 Billion by 2029
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.Canned Meat Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market value of canned meat has made significant progress in the last few years. The projected growth is from a market size of $17.27 billion in 2024 to an estimated $18.25 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. The notable increase during the historic period is due to factors such as ease of use, extended shelf life, use in military and crisis emergency supplies, readiness for pandemics and crises, global explorations and excursions, and cost-effectiveness.
Canned Meat Market Size Forecast: What's the Projected Valuation by 2029?
We anticipate the canned meat market to experience substantial growth in the forthcoming years, with its value projected to reach $24.45 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.6%. This surge in the predicted period can be linked to health-aware consumers, diverse taste options, premium and gourmet variants, ethical and sustainable sourcing methods, along with e-commerce and direct consumer sales. Major upcoming trends during the forecast period consist of clean label products, gourmet and artisanal selections, substitute and plant-based proteins, premium and limited edition products, along with varied meat types.
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What Are the Drivers Transforming the Canned Meat Market?
The growth of the canned meat market is anticipated to be driven by the escalating demand for canned seafood. Seafood, which comprises various edible sea life like fish and shellfish, has gained popularity in its canned form due to its high-protein content and convenience. This preference results in a concurrent increase in demand for the canned meat market. The IRI Worldwide seafood update report from May 2022 for example, indicates that sales of frozen seafood surpassed that of fresh seafood at $643 million and $618 million respectively. Additionally, there was a noted expansion in the shelf-stable seafood market inclusive of canned and pouched seafood with increased volume sales of 7.8%. Hence, this growing preference for canned seafood fuels the expansion of the canned meat market.
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What Long-Term Trends Will Define the Future of the Canned Meat Market?
Prominent businesses in the canned meat sector are now focusing their efforts on creating innovative products like vegan meat. This shift towards plant-based alternatives is aimed at satisfying the needs of health-conscious consumers. Vegan meat uses plant-derived ingredients such as soy, peas, beans and grains as substitutions for traditional meat. For example, in August 2022, Singapore's OTS Holdings, renowned for its ready-to-cook and ready-to-eat meat products, has devised a new range of plant-based canned meat. This unique alternative to regular meat products combines wheat, soy protein, vegetable juice, and Eucheuma seaweed. It's a result of combining contemporary culinary practices with conventional flavors. The product has been in the making for two years, aiming to deliver a pleasing taste while meeting the growing preference for sustainable food options.
Which Segments in the Canned Meat Market Offer the Most Profit Potential?
The canned meat market covered in this report is segmented -
1) By Product Type: Seafood Meats, Poultry Meats, Red Meat, Other Products
2) By Application: Private Use, Commercial and Industrial Use
3) By Distribution Channel: Super market and Hyper market, Specialty Store, Online, Other Distribution Channels
Subsegments:
1) By Seafood Meats: Canned Tuna, Canned Salmon, Canned Sardines, Canned Shellfish
2) By Poultry Meats: Canned Chicken, Canned Turkey, Canned Duck
3) By Red Meat: Canned Beef, Canned Pork, Canned Lamb
4) By Other Products: Canned Mixed Meats, Canned Game Meats
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Which Firms Dominate the Canned Meat Market by Market Share and Revenue in 2025?
Major companies operating in the canned meat market include Xiamen Gulong Canned Food Co. Ltd., Tyson Foods Inc., Wild Planet Foods Inc., Radiant Farms Inc., Survival Cave Food, JBS S.A., Key Food Stores Co-op Inc., Crown Prince Inc., Bar Harbor Foods Inc., Zishan Group Co. Ltd., Libby's Brand Holding Inc., Radiant Farms Ltd., Dalian Lixiang Food Co. Ltd., Hormel Foods Corporation, American Tuna Inc., Bumble Bee Seafoods LLC, Maruha Nichiro Corporation, Vion Food Group NV, Conagra Brands Inc., Thai Union Group, Trident Seafoods Corporation, JBS SA, Bolton Group Ltd., Princes Group Ltd., Cargill Meat Solutions Corp., Keystone Foods LLC, Nestle S.A., Campbell Soup Company, Pinnacle Foods Inc., BRF S.A.
Which Regions Offer the Highest Growth Potential in the Canned Meat Market?
North America was the largest region in the canned meat market in 2024. Asia-pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the canned meat market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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