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The canned food market size is forecast to increase by USD 29.44 billion, at a CAGR of 4.3% between 2022 and 2027. 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.
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The market offers numerous benefits, contributing to the preservation of food through canning techniques. Utilizing steel and tin cans or Mason jars, this process extends the shelf life of various food items, including corn and tomato purees, ensuring they remain nutritious and flavorful. Canned foods provide a convenient solution for consumers with fast-paced lifestyles, offering quick and easy meal options in fast-food chains and restaurants. Moreover, they support food preservation efforts, maintaining the nutrients of ingredients while providing functional fibers. As consumer demand grows for convenience food products, the market responds with organic and clean-label products and chemical-free natural food products, adhering to stringent rules and regulations while meeting the needs of diverse dietary preferences and consumer purchasing power.
This report extensively covers market segmentation by product (canned fish and seafood, canned vegetables, canned meat, canned ready meals, and others), distribution channel (offline and online), and geography (Europe, North America, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the market forecast report includes historic market data from 2017 to 2021.
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. 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 35.32 billion in 2017. 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.
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North America is estimated to contribute 33% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors 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.
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. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
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.
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
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.
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 market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
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 report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2022 for the following segments.
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.
Further, 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.
Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.3% |
Market growth 2023-2027 |
USD 29.44 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.1 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 33% |
Key countries |
US, China, Japan, Spain, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
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, Jutai Foods Group Ltd., LA DORIA S.P.A., Nestle SA, Princes Ltd., and Thai Union Group PCL |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Drivers, Challenges, and Trends
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