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Global Canned Food Market to Grow at a CAGR of 3.97% During 2022-2027, Driven by the Growing Demand for Packaged Food

According to a new report by EMR titled, ‘Global Canned Food Market Report and Forecast 2022-2027’, the global market for canned food attained a value of about USD 102.72 billion in 2021. The industry is further expected to grow at a CAGR of 3.97% in the forecast period of 2022-2027 to reach a value of approximately USD 129.75 billion by 2027.

North America holds a significant share of the canned food industry due to the rising demand for packaged food in the region. The hectic lifestyles of the working population in countries like the United States and Canada are increasingly preferring ready-to-eat canned meals, hence driving the market growth. Moreover, the growing health-consciousness due to the high prevalence of health-related issues such as obesity, hyperthermia, and diabetes, among others, in the region is increasing the consumption of healthy canned food, which is fuelling the growth of the industry. Meanwhile, the Asia Pacific region is witnessing robust growth owing to the growing demand for canned fish and seafood in developed countries like China, Japan, and South Korea, among others. In addition, the development of ready-to-eat cans of local food is increasing the demand for canned food, which is providing further impetus to the growth of the industry.

Gardein, a brand of ConAgra Brands, Inc. (NYSE: CAG), one of the leading companies in the market, launched five canned vegan soups in September 2020. The soup features plant-based meat while delivering the flavours and taste of meat. The launch marks the company’s entry into the market for vegan canned products, the demand for which is skyrocketing in North America and Europe. The canned soup range delivers 10-15 grams of protein per serving by using vegetables and vegan broth bases. Moreover, the soups do not contain artificial flavours or preservatives. Moreover, the soup range is manufactured sustainably by consuming less amount of water, land, and energy resources. The products are available at mass retailers, grocery stores, and e-commerce stores in the United States. Such innovative product launches are increasing the demand for canned food, which is positively impacting the market growth.

Market Analysis by Product Type, Type, Distribution Channel, and Region:

  • The market, on the basis of product type, can be divided into canned fruits and vegetables, canned meat and seafood, and canned ready meals, among others.
  • Based on type, the industry can be divided into organic and conventional.
  • The distribution channels for canned food include supermarket/hypermarket, convenience stores, and e-commerce, among others.
  • The regional markets for canned food include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing health-consciousness is surging the demand for canned vegetables, fruits, and poultry products, which is propelling the market growth.
  • The market has been aided by the high shelf-stability of canned food products, which skyrocketed their demand amidst the COVID-19 outbreak.
  • The increasing focus on the reduction of food wastage while boosting sustainability is surging the consumption of canned food, hence driving the growth of the market.
  • The growing deployment of sustainable packaging materials in canned food products to boost their environment friendliness is providing impetus to the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for canned food for the periods (2017-2021) and (2022-2027’).
  • The report also offers the historical (2017-2021) and forecast (2022-2027’) markets for the product types, types, distribution channels, and major regions of canned food.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global canned food market are ConAgra Brands, Inc., The Kraft Heinz Company, Nestle S.A., Del Monte Foods, Inc., Princes Foods, and CHB Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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