Canned Food Market Growth Rate: Projected at a [4.01%] CAGR

According to the TechSci Research report, “ Global Cannabis Indica Oil Marketwas valued at USD 76.43 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 4.01% through 2028. ” the global canned food market is expected to grow during the forecast period due to the factors such as rising demand for convenience food products and the increasing popularity of canned fish & seafood products. According to the TechSci Research report, “Canned Food Market– Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” the global canned food market is expected to grow during the forecast period due to the factors such as rising demand for convenience food products and the increasing popularity of canned fish & seafood products.

As the number of women working increases, so does the reliance of consumers on pre-prepared and convenient foods. This has resulted in an increase in the demand for shelf-stable and nourishing food, which, in turn, has positively impacted the growth of the canned food industry.

Additionally, the proliferation of large retail outlets around the world, such as hypermarkets and supermarkets, as well as e-commerce platforms, has contributed to the growth of the market for canned food. As health issues become more prevalent, consumers are more likely to spend more money on organic food, thereby providing manufacturers with the opportunity to focus on producing organic canned food. To remain competitive in the market, manufacturers are focusing on offering a variety of canned food products, as well as providing high quality, flavor, and nutrition.

Canned food products are capable of preserving nutrients in a similar manner to those found in fresh food. Research has revealed that the proportions of protein, carbohydrates, and fat, among other nutrients, in canned food products remain unchanged. Additionally, some canned food products contain higher amount of minerals and vitamins than those found in fresh products. Furthermore, canned food products have a longer shelf life and are both ready to consume and easy to use while preparing meals. Consumer awareness of the advantages of canned food is expected to contribute to the growth of the market during the forecast period.

Promotions and brand awareness initiatives are essential for the growth of the global canned food market and the overall revenue of the food sector. Manufacturers employ various promotional tactics to distinguish their products from their competitors and keep customers informed of their new products. Consequently, it is expected that the global canned food market will be driven by such promotional initiatives as well as increased awareness of the health benefits of canned food products.

The consumption of convenience food has seen a surge in recent years due to an increasing hectic lifestyle. This has led to canned foods becoming one of the most popular options for preserved foods due to their ability to retain a variety of nutrients, colors, and flavors.

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Global Canned Food Market Drivers

The market for canned food is driven by a variety of factors. Firstly, the growing number of working people is leading to an increase in the consumption of ready-to-eat and convenience food items. The convenience food category encompasses a range of pre-packaged foods, such as ready-to-eat, frozen, and shelf-stable items, as well as prepared mixes, such as cake mixes.

These convenience food products are available in a range of forms, including pre-cut fruits and vegetables, pre-packaged bottled and canned items, frozen meals and snacks, pre-cooked ready-to-heat, ready-to-serve, and pre-packed ready-to-serve foods, as well as various pudding mixes. As consumer habits and food technology evolve, the market for ready-to-cook and ready-to-sell (RTE) food is undergoing a period of rapid growth. Leading food companies are increasingly investing in their infrastructure and creating new convenience food categories, including soups, gravies, cereals, and other breakfast options.

Secondly, the demand for healthy food products that are high in protein, functional fiber, vitamins, omega 3, and fatty acids is increasing globally. Consumers continue to demand greater nutritional and health outcomes from the food they consume and have grown disenchanted with empty calories that lack nutritional value. Having gained a greater understanding of functional food products, consumers now want to be empowered by the multiple pathways they can take to enhance their health through the food they purchase.

 
The global canned food market is segmented based on product, type, distribution channel, and region.
Based on product, the market is segmented into canned meat, canned fish/seafood, canned vegetables, canned fruits, and others (canned ready meals). Among these, canned meat has a significant share of the market during the forecast period. The consumption of canned meat has become the most popular type of canned food due to the increasing consumption of meat, as well as the increasing demand for high-protein food in the marketplace.
 
Based on type, the market is segmented into organic and conventional. Among these, the organic segment has a significant share in the market during the forecast period due to the growing consumer interest in organic food. With the increasing awareness of the harmful effects of synthetic chemical substances on human health, people have become more conscious of the food they eat. As a result, the organic variant of canned food is expected to grow significantly in the market during the forecast period.
 
Based on distribution channel, the market is segmented into supermarkets/hypermarkets, convenience/grocery stores, online, and others (departmental stores, etc.). Among these, the online segment has a significant share in the market. Consumers, with their hectic schedules and increasing preference for convenience, are increasingly turning to e-commerce for their canned food needs. This is expected to result in the largest e-commerce growth rate during the forecast period.

Key market players operating in the global canned food market include:

· Del Monte Foods, Inc.
· Conagra Brands, Inc.
· The Kraft Heinz Company
· Nestlé S.A.
· Princes Limited
· Campbell Soup Company
· JBS S.A.
· Thai Union Group Public Company Limited
· CHB Group

· Bolton Group

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“The process of canning is used to extend the shelf life of a variety of food products, including seafood, meat, fruits, and vegetables. It involves the processing of food, the sealing of processed food into canning jars, and the heating of canning jars to eliminate the presence of harmful bacteria. This process preserves the nutrients of food products and helps to prevent decomposition caused by external factors, such as sunlight and air pollution. Currently, there is an increasing demand for canned food products due to the hectic lifestyles of individuals, the growing popularity of organic canned food, and the rising demand for convenience food products around the world,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Canned Food Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Product (Canned Meat, Canned Fish/Seafood, Canned Vegetables, Canned Fruits, and Others (Canned Ready Meals)), By Type (Organic, Conventional), By Distribution Channel (Supermarkets/Hypermarkets, Convenience/Grocery Stores, Online, and Others (Departmental Stores, etc.)), and By Region and Competition, has evaluated the future growth potential of canned food globally and provides statistics and information on market structure, size, share, and future growth. The report provides cutting-edge market intelligence and helps decision-makers to make sound investment decisions. Besides, the report also identifies the emerging trends along with essential drivers, challenges, and opportunities present in the global canned food market.

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