Canned Foods Market By Type Analysis(seafood, vegetables and fruits, meat products, ready meals), By Distribution Channel Analysis( Supermarkets and hypermarkets, Independent retailers, Convenience stores), By Region And Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, And Forecast 2023-2032

Report Overview

Canned Foods Market size is expected to be worth around USD 140.0 Bn by 2032 from USD 103.2 Bn in 2022, growing at a CAGR of 3.1% during the forecast period from 2023 to 2032.

Request Covid - 19 Impact

The canned food market plays a pivotal position within the agricultural, food processing, packaging, and logistics industries, exerting a substantial amount of influence on their overall development. As a result of their significantly reduced resource requirements, the production of canned products necessitates less energy and water consumption. This strategy invariably results in a longer shelf life while concurrently enhancing shipping and distribution efficiency, ultimately leading to the elimination of wasteful practises. Moreover, the affordability of canned foods makes them an eminently accessible means of acquiring essential nutrients, particularly in the context of developing nations beset by fresh produce shortages.

The meteoric growth of the canned food market can be attributed primarily to burgeoning economies, the relentless march of urbanization, the relentless pressures of modern existence, and the exponential increase in health and nutrition awareness across diverse demographics. In addition, the emergence of e-commerce has acted as a catalyst, propelling the market's growth to unprecedented heights, with online retail channels securing a substantial portion of the industry's coveted revenue.

Households, military camps, disaster relief efforts, and charitable organizations are just a few of the many places where canned foods are used. Due to ethical considerations of the utmost significance, the canned food industry has been subjected to the scrutiny of both discriminating consumers and regulatory authorities. Concerns about environmental sustainability,

Driving factors

The desire of customers for products to be more convenient and to have a longer shelf life

The rising desire for products that are more convenient and have a longer shelf life is one of the important elements that is driving this trend. Canned foods provide the convenience of having pre-cooked meals that can be readily prepared or consumed directly from the can. This reduces the amount of time required to prepare meals. In addition, canned food products do not need to be refrigerated, which makes them an excellent choice for customers who may not have access to refrigeration or who need to store food for the purpose of emergency preparation and survival.

The increasing number of people who are becoming more prepared for emergencies and hoarding supplies

Another element that is helping to drive this trend is the greater availability of canned food products in a wider range. The ever-evolving tastes and preferences of consumers have led to the development of a diverse selection of canned food products by manufacturers as a response to these changes. The market for canned foods has a wide variety of products available, including ready-to-eat meals as well as fruits and vegetables, to cater to the varied nutritional choices and lifestyles of consumers.

Cost-effective alternative to purchasing fresh or frozen products

The market for canned foods is reasonably stable, and there are no major changes on the horizon that are likely to have an effect on the industry. This indicates that regulatory changes are unlikely to have an impact. On the other hand, developing technologies such as robotic process automation (RPA) have the potential to have a big effect on the sector. Over the course of the past several years, RPA has seen a rise in popularity within the food industry as a means of enhancing the effectiveness of production and ensuring conformity with regulatory norms.

There is a possibility that possible disruptors, such as plant-based meat replacements, which are gaining popularity all over the world, will have an effect on the competitive landscape of the market for canned foods. Additionally, there is a growing interest among customers in products that are sourced in a sustainable manner and are environmentally friendly; this could cause a shift in the preferences of the market for canned food.

Restraining Factors

Type Analysis

Canned seafood segment dominates the canned foods market. They're perfect for on-the-go dinners because they're portable, easy to store, and require no preparation. Seafood, especially canned seafood, is affordable for protein-rich diets. Despite its popularity, canned seafood is still inspected for quality and components. Consumers are learning about the nutritional value and environmental impact of the fish used in canned seafood. This has led to a shift towards healthier, more environmentally friendly canned seafood.

The expansion of the economy in emerging countries is driving the use of canned seafood sectors. As customers switch to modern diets, canned seafood is becoming increasingly important in the food market. Emerging economies commonly resort to canned seafood for high-protein, low-cost meals. Consuming seafood that has been canned may be the most practical option to meet nutritional needs without spending a lot of effort.

Distribution Channel Analysis

Supermarkets and hypermarkets dominate the canned food market segment since most shoppers favour large retailers. People buy canned foods from these retail companies because they provide a wide assortment at competitive prices. Supermarkets and hypermarkets offer one-stop shopping, so customers can get everything they need in one place.

The economic prosperity of developing countries is driving the introduction of supermarkets and hypermarkets as a market segment. Urbanisation in developing countries is quickly increasing discretionary spending and changing consumer tastes. The growth of supermarkets and hypermarkets, which provide customers a wide range of items at affordable prices, is meeting the ever-increasing desire for convenience and variety.

Key Market Segments

By Type Analysis 

• seafood
• vegetables and fruits
• meat products
• ready meals

By Distribution Channel Analysis

• Supermarkets and hypermarkets
• Independent retailers
• Convenience stores

Growth Opportunity

Convenience foods and ready-to-eat dishes

The chaotic lifestyles of contemporary consumers have increased the demand for convenience foods, particularly no-preparation canned foods. The primary drivers of this trend are hectic schedules and limited time for meal preparation. Canned foods provide a variety of ready-to-eat soups, stews, fruits, and vegetables that do not require preparation. The meal can be heated and served directly from the can.

Popularity with Younger Age Groups

The preference of the younger generation for healthy food, convenience, and sustainability is propelling the expansion of the canned foods market. Younger millennials are particularly attracted to canned foods due to their convenience and nutritional value. Due to advancements in preservation technology, contemporary canned foods are significantly more nutritious than their forebears. In addition, canned foods provide options for individuals with specific dietary requirements, such as no added sugar or minimal sodium.

Increasing Product Selections

The market for canned foods is diversifying its product offerings to suit the evolving needs of contemporary consumers. Leading companies are investing in R&D to create healthier, richer, and more convenient canned food options. This has led to the introduction of new product categories, such as organic canned foods and microwavable canned meals. This increased diversity of options attracts more consumers to the market for canned foods, propelling the expansion of the industry.

Latest Trends

Continued expansion of the global food sector

The prevalence of canned foods increases as the demand for convenient, long-lasting food options increases. There are a number of factors that contribute to the continued expansion of the global food industry, including urbanisation, dietary changes, and the demand for storage solutions for families with limited space. Additionally, canned foods are becoming an attractive option for low-income households and those on a fixed budget who seek affordable and nutrient-rich foods.

Advantage of being able to store significant quantities of food in a small area.

The ability to store large quantities of food in a small space is a major factor driving the market for canned foods. With so many people living in compact apartments and houses, it is essential to maximise storage space. Canned foods can be readily stacked and stored in pantries, cabinets, and even beneath beds. There is no need for costly refrigeration, and they can be stored for long periods of time.There are health benefits associated with certain canned foods.

The health benefits associated with certain types of canned foods, such as fruits and vegetables, are another important benefit. Individuals have access to nutritious food throughout the year, regardless of the season, because canned foods are preserved. The process of canning preserves the vitamins and minerals of the produce, making it a more affordable and nutritious alternative to raw produce. It has been discovered that canned tomatoes contain more lycopene than raw tomatoes, which is associated with a reduced risk of heart disease and cancer.

The popularity of canned foods, such as fruits and vegetables, among low-income households and individuals on a fixed budget.

Canned food is a popular option for low-income households and individuals on a budget. Canned foods offer a cost-effective and practical alternative during unemployment or economic hardship. Many canned foods are less expensive than fresh produce, allowing consumers to extend their food budgets. The use of family-sized cans of vegetables, fruits, and sauces as meal bases ensures that families will be satiated, full, and able to receive all the necessary nutrients.

Regional Analysis

Because of the Increase in Canned Food Consumption, North America Shows the Fastest Growth.

Due to a variety of factors, the prevalence of canned foods is increasing rapidly at present. As the population increases, so does the demand for canned food as a nutritious source. Due to the increased availability of canned food in local stores, it has become an appealing option for people's daily diets. North America is becoming a major participant in the canned food industry, as consumers demonstrate a growing preference for this food type.

There are several reasons for the expansion of the canned food industry in North America. First, the region's growing population is one of the most significant development drivers. There is a greater demand for food as the population increases, and canned food is proving to be an attractive and affordable option for many households.

Secondly, improvements in the packaging of canned food have increased its shelf life, making it more convenient to store and consume for longer durations. The entire packaging process has also been refined, leading to enhanced flavor and quality.

Thirdly, canned food is preferred by many consumers due to its convenience. Due to the fact that canned food can be consumed rapidly by simply opening the can, it is a popular choice for those who lead busy lives.

Fourthly, the pandemic has negatively impacted the food industry, causing supply chain disruptions. As a non-perishable item, canned food experienced fewer disruptions than other food items, resulting to an increase in demand.

Key Regions and Countries

North America

• US
• Canada
• Mexico

Western Europe

• Germany
• France
• The UK
• Spain
• Italy
• Portugal
• Ireland
• Austria
• Switzerland
• Benelux
• Nordic
• Rest of Western Europe

Eastern Europe

• Russia
• Poland
• The Czech Republic
• Greece
• Rest of Eastern Europe

APAC

• China
• Japan
• South Korea
• India
• Australia & New Zealand
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Colombia
• Chile
• Argentina
• Costa Rica
• Rest of Latin America

Middle East & Africa

• Algeria
• Egypt
• Israel
• Kuwait
• Nigeria
• Saudi Arabia
• South Africa
• Turkey
• United Arab Emirates
• Rest of MEA

Key Players Analysis

Nestle SA is a market leader in the canned food industry. The company offers a vast selection of canned goods under various brand names, including KitKat, Nescafe, Milo, and Maggi. The company's robust distribution network and commitment to innovation have allowed it to maintain its market dominance.

The Kraft Heinz Company is another significant participant in the market for canned foods. The company offers a vast selection of canned goods, including soups, sauces, and vegetables, under various labels, including Heinz, Kraft, and Weight Watchers Smart Ones. Focusing on constant innovation and new product introductions has helped the company maintain its market position.

Conagra Brands, Inc. is a prominent player in the canned food market. Healthy Choice, Marie Callender's, and Reddi-Wip are among the many brands of canned and frozen food products that the company offers. Focusing on R&D and strategic acquisitions has helped the company maintain its market position.

Del Monte Foods, Inc. is another significant actor in the market for canned foods. The company offers an extensive selection of canned fruits, vegetables, and tomato products under various brand names, including Del Monte and Contadina. Focusing on promoting healthy eating habits and sustainable agricultural practises has helped the company maintain its market position.

Campbell Soup Company is a dominant participant in the market for canned soup. The company offers a vast selection of canned soups under a variety of brands, including Campbell's, Swanson, and Prego. Focusing on innovation and continual product launches has helped the company maintain its market position.

Top Key Players in Canned Foods Market

• Bolton Group B.V.
• Conagra Brands, Inc.
• Del Monte Foods, Inc.
• The Kraft Heinz Company
• J. Heinz Company, L.P.
• Pinnacle Foods, Inc.
• Hormel Foods Corporation.
• General Mills, Inc.
• Kellogg Co.

Recent Development

In 2021, the canned foods market has undergone some exciting changes, with major participants launching new products and shifting their focus to sustainability. Nestle will launch a line of plant-based soups and stews under its Harvest Gourmet brand in 2021. This action reflects the increasing demand for vegan and vegetarian options in the canned foods market, as consumers seek healthier and more sustainable options.

In 2020, Baxters Food Group introduced another significant innovation to the canned foods market. Utilising the wellness trend that has been propelling innovation in the food industry, the company launched a line of high-protein canned soups under its Baxters Super Good brand.

In 2021, Nestle has also placed a significant emphasis on environmental sustainability, as evidenced by its announcement in 2021 that it would replace all plastic packaging for its Yes! refreshment bars with paper wrappers. The company has taken a significant move forward in its efforts to reduce its environmental impact and meet the rising demand for sustainable packaging options.

In 2020, In addition to these developments that are centred on sustainability, the canned foods market has also witnessed some thrilling mergers and acquisitions in recent years. In 2020, Hormel Foods acquired premium smoked meat producer Sadler's Smokehouse. This allowed Hormel to expand its product line and enter the market for premium smoked meats.

In 2021, Del Monte Foods introduced a line of ready-to-eat canned meals under the brand name Veggieful. This action reflects the increasing demand for home- and on-the-go-friendly plant-based meal options.

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