Global Canned Food Market 2016-2020
Market outlook of the global canned food market
Technavio’s research analysts predict the global canned food market to grow at a CAGR of approximately 3% between 2016 and 2020. Canned food require less preparation time and are considered convenient to use which has led to its popularity in the global market. The demand for sealed and tamper-proof steel container food is high, as they protect the food from harmful bacteria. Also, owing to the hectic and busy lifestyle of today’s consumers, canned food is expected to gain more importance during the forecast period. Furthermore, extensive marketing through organized retailing will augment the growth of the global canned food market during the forecast period
A major trend that is emerging in the global canned food market is an increase in the adoption of these products in developing countries. Consumers in these countries prefer fresh food over canned food; however, owing to the changes in lifestyle and lack of time for cooking food, many consumers are shifting to canned food products.
Segmentation by type and analysis of the canned food market.
- Canned fish and seafood
- Canned vegetables
- Canned meat products
- Canned fruits
- Canned ready meals
Canned fish and seafood accounted for approximately one-third of the market share during 2015. The key reason attributed to the demand for canned fish and seafood is that these products have the same health benefits that are associated with fresh fish and seafood. Further, canned fish and seafood products are lower in calories, high in omega-3 fatty acids, and high in potassium.
Segmentation by distribution channel and analysis of the global canned food market
- Supermarkets and hypermarkets
- Independent retailers
- Convenience stores
- Specialist retailers
During 2015, the sale of canned food through supermarkets and hypermarkets was the most significant, owing to the availability of a vast array of products at discounted price. Supermarkets and hypermarkets are also the ideal places for vendors to launch their products.
Segmentation by geography and analysis of the global canned food market
Europe accounted for more than one-third of the market share during 2015. Key reasons attributed to the growth of canned food in this region are its convenience of use as well as its relatively long shelf life compared to fresh food. Canned foods take less time to prepare and are more convenient to cook. Convenient packaging will further add to the popularity of canned foods. Canned products are more popular in the UK, Ireland, France, and Germany. Also, European consumers prefer for private label products owing to their low price.
Competitive landscape and key vendors
The global canned food market is highly fragmented. Vendors in the market compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion. Therefore, to survive and succeed in the intensely competitive environment, it becomes imperative for vendors in the market to distinguish their product and service offerings through clear and unique value proposition.
The leading vendors in the market are -
- Bolton Group
- ConAgra Foods
- Del Monte
- Kraft Heinz
- General Mills
- Hormel Foods
Other prominent vendors in the market include Atria Group, Ayam, Bonduelle, Campbell Soup, Danish Crown, Dole Food, Grupo Calvo, JBS, Meica, Nestlé, Pinnacle Foods, Princes Group, Shanghai Maling Aquarius, and Zanlakol.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global canned food market?
- What are the key market trends impacting the growth of the global canned food market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global canned food market?
- What are the trending factors influencing the market shares of the Americas, APAC, Europe, and ROW?
- What are the key outcomes of the five forces analysis of the global canned food market?
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