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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.
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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.
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