Canned Food Market

Global Canned Food Market Size (2024 to 2032)

The Global Canned Food Market size is expected to be worth USD 112.47 billion in 2024, and it is estimated to reach a valuation of USD 152.74 billion by the end of 2032 with a CAGR of about 3.9%.

MARKET OVERVIEW

Canned food is a preservation method that involves sealing and sterilizing food in sealed containers. Various canned foods offered in the market include seafood, meat, fruits, vegetables, grains, sweets and desserts, soups and sauces, beans, lentils, and pasta. The canning process retains many essential nutrients. Therefore, canned food was one of the preferred preserved food options on the market. Food is an indispensable part of life, so the way consumers act on food changes dramatically. It is the preferred item according to various external aspects such as colour, flavour, presentation, and hygiene. Therefore, packaging plays a vital role in meeting customer needs. Various packaging companies innovate and design different types of packaging to attract customers. Metal cans are a type of food packaging that makes it easy to distribute and store food. Canned or processed foods are good sources of nutrients, protect foods from external conditions, and provide hygienic canned foods. The most traditional form of canning is metal packaging. It is widely used for the type of packaging because it is convenient to use, easy to transport and safe to consume. Canned food is available in a variety of sizes, shapes, and styles.

MARKET DRIVERS 

The global canned foods market is driven by the recyclable and reusable properties of cans, nutritional value and hygienic food processing. Due to the busy schedule and the growth of the active lifestyle, the demand for packaged or processed foods increases, and the availability of several convenient food options, such as ready-to-eat, ready-to-serve, ready-to-serve and ready-to-eat heat to promote the growth of the global canned food market. Factors that are supposed further to drive the growth of the canned food market are the growing demand for prepared foods around the world. The busy lifestyle and growing female workforce, along with the convenience of canned food, have contributed to consumers' transition to nutritional food products. The market is mainly driven by the increase in urban populations that prefer easy and convenient meals and the demand for healthy foods rich in protein, functional fiber, vitamins and omega-3 fatty acids. Canned foods maintain a high nutritional value, such as protein, fiber, minerals, and antioxidants. Also, as the retail industry grows and e-commerce penetration increases, the range of canned food sales in emerging markets is likely to expand in the future.

Along with the demand for small, easy-to-cook meats and seafood and organic canned fruits and vegetables, consumers who want to invest a little more in products that offer these attributes are promoting market sales. Furthermore, awareness of bottles in plastic packaging is increasing, the demand for sustainable solutions is rising, and recycling rates are increasing worldwide. Also, as consumer awareness of the benefits of fresh food has increased, the need for alternative packaging or technologies has increased. During the forecast period, urbanization is assumed to increase, household incomes will increase, and demand for milk-based products, such as cheese and ice cream, will increase. In addition, macroeconomic factors that are beneficial to the global canned food market are provided at low prices for use due to lifestyle changes, increased disposable income, and declining food prices. The ease of availability of canned food according to various tastes and the choice is expected to draw attention in the outlook period.

MARKET RESTRAINTS

However, the main limiting factors affecting the global canned food market are the availability of alternative packaging solutions, the introduction of expensive metals, polyethylene terephthalate, and high-density polyethylene materials. The presence of a chemical called BPA, which is used to prevent food from reacting with the metal's inner surface, is a health concern for users. Furthermore, the lack of microwave capacity and the profitability of alternative materials affects the growth of the canned food market. The dynamic problem faced by processed food manufacturers is that changes in customer preferences are unpredictable and require constant innovation to attract customer attention. One of the major drivers of the canned food products market is the convenience and long shelf life they possess. There has been a change in the eating habits of people due to the influence of western culture which in turn drives the market. However, the extra sugar and salt content may pose a restraint to the growth of the Canned Food Market.

REPORT COVERAGE

SEGMENTED ANALYSIS

Global Canned Food Market Analysis By Type

• Canned meat products      
• Canned seafood   
• Canned vegetables             
• Canned fruit           
• Canned ready to eat meals              
• Canned desserts  
• Canned pasta         
• Canned soups        
• Canned cooking sauces   

Global Canned Food Market Analysis By Distribution channel

• Specialist retailers
• Internet sales        
• Supermarkets        
• Convenience stores                  

The fish and seafood segment is expected to grow at a fast pace. By distribution channels, the market is divided into specialist retailers, internet sales, supermarkets, convenience stores and others.

REGIONAL ANALYSIS

Due to the high consumption of canned food and the presence of numerous food industries, North America and Europe dominate the market worldwide. As the number of interested investors investing in industrial development increases and the region's production and consumption capacity increases, the Asia Pacific region is expected to attract considerable attention during the forecast period. The Asia Pacific region is the fastest-growing region in the canned food market, especially canned meat, fish/shellfish, and fruit markets. In countries such as Japan, Korea, and China, canned crabs are imported in large quantities. According to recent FAO estimates, China and South Korea were the second largest importers of crab meat after the United States. In fact, Japan alone imported 40% more Newfoundland crabs from Canada (one of the world's largest producers and exporters of crab meat). 

Also, in countries like India, food manufacturers tend to produce the most popular local foods, such as dal, poha, upma, etc., in ready-to-eat cans. Furthermore, the presence of food in the leading supermarkets such as 7-Eleven, E-mart, Big C, etc., the increasing penetration of the Internet and the online market for the purchase of canned food are accelerating the growth of the market. 

Europe was the primary market in 2018 and occupied the most substantial part of the world canned food market. This is due to the high consumption of canned food in most European countries, including Germany, France, Italy and the United Kingdom. Consumers in the region are attracted to canned foods with new flavours, textures, and high nutritional value, leading to the growth of the canned market in this region.

KEY COMPANIES IN THE CANNED FOOD MARKET 

Key Companies in the Canned Food Market are Dole Food Company Inc, DelMonte Pacific Ltd, ConAgra Foods Inc, H.J. Heinz Company, Pinnacle Foods Inc, B&G Food Holdings Corporation, Bolton Group International, La Doria, Campbell Soup, Nestle, Zanlakol, CECAB Group, Princes Limited, Bonduelle,

RECENT HAPPENINGS IN THE MARKET:

• France-based Bonduelle SA, which serves canned, frozen and fresh vegetable products, completed the acquisition of the Del Monte processed fruit and vegetable business at Conagra Brands in Canada, expanding its portfolio of companies to canned snacks.
• Del Monte, the region's largest premium brand producer, distributor, and foodstuff, announced plans to transition to packaging instead of BPA and to increase product offerings outside of GMOs.

DETAILED SEGMENTATION OF GLOBAL CANNED FOOD MARKET INCLUDED IN THIS REPORT    

This research report on the Global Canned Food Market has been segmented and sub-segmented based on Type, Distribution Channel And Region.

By Type

• Canned meat products      
• Canned seafood   
• Canned vegetables             
• Canned fruit           
• Canned ready to eat meals              
• Canned desserts  
• Canned pasta         
• Canned soups        
• Canned cooking sauces   

By Distribution channel

• Specialist retailers
• Internet sales        
• Supermarkets        
• Convenience stores                  

 By Region

• North America
• Europe 
• The Asia Pacific
• Latin America
• Middle East and Africa