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NEW YORK, June 10, 2022 /PRNewswire/ — Canned foods refer to processed food products that are stored in containers. The canning process involves heat and steam pressure, which prevents the spoilage of food products.
According to the report “Canned Food Market by Product, Distribution Channel, and Geography – Forecast and Analysis 2021-2025“, the market witnessed a YOY growth of 3.29% in 2021 and a CAGR of 4.08% during the forecast period. The report is segmented by product (canned fish and seafood, canned vegetables, canned meat, canned ready meals, and others), distribution channel (offline and online), and geography (Europe, North AmericaAPAC, MEA, South America, Europe, North AmericaAPAC, MEA, and South America).
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Vendor Insights and Scope
The canned food market is fragmented, and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including Bolton Group Srl, Campbell Soup Co ., Conagra Brands Inc., Del Monte Pacific Ltd., General Mills Inc., Nestle SA, Princes Ltd., The Hain Celestial Group Inc., The JM Smucker Co., and The Kraft Heinz Co.
The report also covers the following areas:
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Geographical Market Analysis
North America will provide maximum growth opportunities in the canned food market during the forecast period. According to our research, the region will contribute to 32% of the global market growth during the forecast period. The US is a key market for canned food in North America. The growth of the market in the region will be driven by the growing need for convenience foods owing to hectic lifestyles.
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Key Segment Analysis
The canned fish and seafood segment will have significant market share growth during the forecast period. The demand for canned fish and seafood products has increased in countries such as China, Indiaand Brazilowing to the growth of the population and rising awareness about the health benefits of consuming seafood. Countries in the Middle East are also experiencing significant demand.
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Key Market Drivers & Challenges:
The growing need for convenience foods owing to hectic lifestyles is driving the growth of the global canned food market. The demand for canned food is increasing, especially among the working population, owing to factors such as short cooking time, easy preparation, and long shelf life. Canned fruits and vegetables are less likely to get spoiled and have lower handling and transportation costs than fresher variants.
The rise in product recalls will challenge the global canned food market growth during the forecast period. These recalls are a result of improper handling of raw materials or supplies. Over the last few years, various products have been recalled over the last few years due to the use of contaminated raw materials, presence of allergens, and incorrect labeling.
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Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist canned food market growth during the next five years
- Estimation of the canned food market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the canned food market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of canned food market vendors
Related Reports:
Meat Packaging Market by Material and Geography – Forecast and Analysis 2022-2026
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