Canned Food Market Analysis Europe, North America, APAC, Middle East and Africa, South America - US, China, Spain, UK, Japan - Size and Forecast 2024-2028

Canned Food Market Size 2024-2028 

The canned food market size is forecast to increase by USD 31.13 billion, at a CAGR of 4.36% between 2023 and 2028. Market expansion relies on various factors. Firstly, the introduction of new products plays a pivotal role in stimulating growth by catering to evolving consumer preferences. Secondly, the escalating demand for convenience foods, driven by increasingly busy lifestyles, acts as a significant driver for market expansion. This trend is particularly evident as consumers seek quick and easy meal solutions amidst their hectic schedules. Additionally, the growing prominence of online retailing channels contributes to the market's growth trajectory. The convenience and accessibility offered by online platforms resonate well with modern consumers, thereby fueling the demand for food products through digital channels. As these factors continue to intersect, the market is poised for further expansion, with opportunities for innovation and strategic partnerships to capitalize on shifting consumer behaviors and preferences. The report provides market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.

What will be the Size of the Market During the Forecast Period?

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Market Dynamics and Customer Landscape

The market offers several positive health effects, particularly in today's fast-paced lifestyle. Home canning and commercial canning processes ensure an extended shelf life of food, preserving its nutritional value and minimizing waste. Additionally, the convenience of canned foods aligns with the demands of a fast-paced lifestyle, providing quick and easy meal options. As consumers become more health-conscious, the market offers a variety of healthy food choices, including organically grown products. The availability of canned foods also empowers consumers, giving them the flexibility to make choices based on their purchasing power. Furthermore, the sales of food and beverages continue to reflect the popularity and convenience of canned goods in modern diets.

Key Market Driver

 The introduction of new products is clearly propelling market advancement. In order to remain competitive and satisfy evolving consumer needs, market players are introducing new products. This is a significant factor influencing the market's expansion. Companies benefit from increased sales and market share through new product introductions. New canned food varieties are introduced by vendors in an attempt to draw in customers.

For instance, in July 2021, Campbell Soup company launched the new Spicy Chicken Noodle soup flavor, 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. New and innovative products, in line with the growing consumer demand, are driving the market.

Significant Market Trend

Packaging-related innovations are the primary trend in the market. 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 aluminum 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

Major Market Challenge

Product recalls are the major challenge impeding the market. 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. 

Further, 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 labeling.  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. 

Exclusive Customer Landscape

The market forecasting 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 market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies 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.

• Jutai Foods Group Ltd. - The company offers canned foods such as fruits, vegetables, and fish.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Atria Plc
• Ayam Sarl
• 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.
• Hormel Foods Corp.
• JBS SA
• LA DORIA S.P.A.
• Nestle SA
• Princes Ltd.
• Thai Union Group PCL
• The Hain Celestial Group Inc.
• The J.M Smucker Co.

Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

By Product 

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. Such 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. Consuming canned food items can provide convenience and long shelf life while retaining essential nutrients, making them a practical choice for busy individuals.

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The canned fish and seafood segment was valued at USD 36.80 billion in 2018. The demand for such 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. 

Regional Analysis

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North America is estimated to contribute 39% 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. Another region offering significant growth opportunities to companies is Europe. 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 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.

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Product Outlook 
  • Canned fish and seafood
  • Canned vegetables
  • Canned meat
  • Canned ready meals
  • Others

• Distribution Channel Outlook 
  • Offline
  • Online

• Region Outlook
  • 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
    • Chile

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Market Analyst Overview:

The market offers convenience and practicality in today's fast-paced lifestyle. With air-tight tin or aluminium cans, these products ensure the safety of food stored while maintaining freshness. However, concerns about microbial proliferation and contamination exist, prompting ongoing efforts in packaging solutions and food preservation techniques. While canned foods may contribute to dietary transitions and offer emergency food supplies, they also face criticism for their preservatives and chemicals. The packaged food items industry continuously evolves to address consumer demands for organic products, premium canned goods, and eco-friendly packaging. As consumption rates rise and the retail infrastructure expands, brands invest in brand awareness programs to capture market share. Despite challenges such as spoilage and environmental concerns related to non-biodegradable packaging, the canned food market sustains growth through technological advancements and product innovation catering to diverse consumer lifestyles and preferences.

Additionally, the market also can offer convenience and nutritional benefits, especially in today's fast-paced lifestyle. The safety of food stored in cans ensures that consumers can enjoy preserved goods without concerns about spoilage. However, critics highlight potential issues such as preservatives and chemicals present in some packaged foods, which may lead to health problems like allergies or exacerbate existing health conditions. Despite this, the canned food market continues to evolve, with advancements in production and packaging technology addressing consumer demands for organic options and sustainable packaging. Additionally, the market caters to diverse preferences, offering a wide range of flavor variants and product categories from canned seafood to canned fruit. As the industry expands, online retail sectors and convenience stores play a significant role in providing access to these products, further driving sustained growth in the market.

Further, the canned food market continues to thrive, offering consumers numerous benefits. Canned food items, such as vegetables, fruits, tomato purees, and even meats, have positive effects on health. These foods are often rich in nutrients, including vitamins C and K, iron, and calcium, which are essential for maintaining a balanced diet. Mason jars and steel and tin cans are popular choices for canning due to their durability and airtight seals, ensuring food stays fresh for extended periods. The canning process, which includes heating the food inside the container to kill bacteria, also helps preserve the food's nutritional value. Moreover, freezedried food is another trend in the canned food market. This method locks in nutrients by quickly freezing the food and then drying it. The National Food Processors Association (NFPA) supports the canned food industry, advocating for food safety and education on the benefits of canned food. Fastfood chains and restaurants increasingly use canned food items, such as corn, in their menus due to their convenience and long shelf life. Tomato purees, for instance, are widely used in various dishes, from pasta sauces to soups. The versatility and accessibility of canned food make it a staple in modern kitchens.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behavior
• Growth of the market across Europe, North America, APAC, Middle East and Africa, and South America
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies