Canned Food Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2023-2027

The Canned Food Market is projected to increase by USD 29,442.6 million from 2022 to 2027. The market is estimated to grow at a CAGR of 4.3% between 2022 and 2027. In 2017 the market size was valued at USD 104,165.23 million.

New product launches are a major factor driving market growth. Players in the market are launching new products to stay competitive in the market and meet the changing consumer demands. This is an important driver contributing to the growth of the market. New product launches help vendors increase their sales and market share. Vendors try to attract customers by introducing new canned food variants. For instance, in July 2021, Campbell Soup company launched the new canned Spicy Chicken Noodle soup flavour, and in March 2021, Thai Union canned tuna products brand SEALECT launched a limited-edition series of Canned Tuna with a special Doraemon packaging design from the famous Japanese Manga series, etc. 

This market is segmented by product into canned fish and seafood, canned vegetables, canned meat, canned ready meals, and others. The canned fish and seafood segment will contribute 40% to the growth of the market. The demand for canned fish and seafood products continues to increase in countries such as China, India, and Brazil, owing to the growth of the population and rising awareness about the health benefits of consuming seafood. In addition, the Middle East is also witnessing a significant demand for canned seafood products. 

Canned Food Market: Overview

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Key Trend and Challenge

The packaging-related innovations are notably driving the market growth, although factors such as product recalls may impede the market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.

Trend

Packaging-related innovation is a primary trend that will support market growth. Manufacturers are focusing on innovations in packaging with an increase in the demand for chemical-free canned foods. Brands like Conagra Brands and The Hain Celestial Group Inc. (Hain Celestial) have started offering products in BPA-free containers. These brands offer either a few or all their canned food products in BPA-free cans, which usually have polyester-based substances coated on the inside of the cans.

The search for alternatives for BPA-containing cans has led to new technologies replacing such toxic chemicals. For instance, Soy-PK Reactive Oligomer Cross-Linker, which is a new can coating technology developed by researchers and the Ohio Soybean Council, can replace BPA. The new technology makes use of a soy-based resin that protects food products, especially those that are highly acidic, against corrosion in aluminium and steel cans. These innovations could help manufacturers in adapting to the regulations set by the authorities. With the rise in stringent regulations and increasing concerns over consumer health, such innovations are expected to be a major trend in the coming years

Challenge

Product recalls will be a major challenge for the market share growth. Food regulatory and compliance authorities in any country have the right to shut down a business and recall its products from the market if the products pose a threat to the well-being of consumers. The food and beverage industry has witnessed frequent product recalls as a result of the improper handling of raw materials or supplies. Product recalls severely impact the brand image and the operations and sales of a company. 

The market has witnessed various product recalls over the last few years due to the use of contaminated raw materials, the presence of allergens, and incorrect labelling.  Consumers are very conscious about the brand image of products that they purchase, as any negligence will affect their health and well-being. These factors can negatively impact the growth of the market and lead to distrust among consumers. 

Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Canned Food Market Customer Landscape

Vendor Overview

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Key Offering - Ayam offers canned foods such as sardines, baked beans, fruits and vegetables.
• Key Offering - Boltongroup offers canned foods such as meat under its brand Simmenthal.
• Key Offering - Bonduelle offers canned foods such as vegetables under its brand Cassegrain.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

• A. Clouet Australia Pty Ltd.
• Atria Plc
• Bolton Group Srl
• BONDUELLE SA
• Campbell Soup Co.
• CHB Group
• Conagra Brands Inc.
• Danish Crown AS
• Del Monte Pacific Ltd.
• Eureden Co operative Group
• General Mills Inc.
• The Hain Celestial Group Inc.
• Hormel Foods Corp.
• The J.M Smucker Co.
• JBS SA

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Canned Food Market Segmentation by Distribution Channel

The canned food market segmentation by distribution channel consists of offline and online. The offline distribution channel segment generates revenue from the sales of products through hypermarkets, supermarkets, and clubhouse stores; department stores; and independent retailers. The revenue generated by this segment has been declining gradually because of the shift to online shopping by consumers. Retailers are introducing new business and retail strategies, for example, better pricing strategies and wider assortments, owing to the declining preference for offline shopping and the need to survive in a competitive market. As a part of the marketing and offline sales strategy, resellers place attractive displays that generate strong sales. 

Canned Food Market Segmentation by Product

The canned food market segmentation by product consists of canned fish and seafood, canned vegetables, canned meat, canned ready meals, and others. The market share growth of the canned fish and seafood segment will be significant during the forecast period. The canned fish and seafood segment will see steady growth during the forecast period. Canned fish products offer the same health benefits as fresh fish products. The American Heart Association recommends the consumption of fish at least two times per week as it offers a variety of health benefits. One of the easiest means to meet the recommended fish intake is through the consumption of canned tuna, which is low in fat and rich in several vitamins, minerals, healthy oils, and protein. This will positively influence the market during the forecast period.

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The canned fish and seafood segment was valued at USD 35,322.43 million in 2017 and continued to grow until 2021. The demand for canned fish and seafood products continues to increase in countries such as China, India, and Brazil, owing to the growth of the population and rising awareness about the health benefits of consuming seafood. The trend of sustainable fishing is shaping canned fish consumption, which is also supported by retailers. Additionally, the development of modern distribution channels and technological improvements in the processing, packaging, and storage of seafood products support the growth of the segment. 

Key Regions for the Canned Food Market

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North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Canned foods, being cheaper than fresh foods, might be more attractive to consumers during times of economic changes. Younger consumers prefer canned food owing to convenience. The rising household expenditure on food and beverages in the region, coupled with product launches, will propel the growth of the market in Europe. Supermarkets and hypermarkets are the primary distribution channels for canned food and are highly preferred in the urban areas of Europe. These factors are expected to drive the growth of the market in the region during the forecast period.

The regional market witnessed certain challenges due to the outbreak of the COVID-19 pandemic. However, rising awareness about the health benefits of canned food products, such as the preservation of protein and vitamin content, will contribute to the growth of the market in Europe during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook (USD Million, 2017 - 2027)
  • Canned fish and seafood
  • Canned vegetables
  • Canned meat
  • Canned ready meals
  • Others
• Distribution Channel Outlook (USD Million, 2017 - 2027)
  • Offline
  • Online
• Region Outlook (USD Million, 2017 - 2027)
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • North America
    • The U.S.
    • Canada
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Brazil
    • Argentina

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What are the Key Data Covered in this Canned Food Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the canned food market between 2023 and 2027
• Precise estimation of the size of the canned food market size and its contribution of the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the market industry across Europe, North America, APAC, Middle East and Africa, and South America
• Thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of canned food market vendors

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