Global Canned Vegetable Market Report 2024

The canned vegetable market size has grown strongly in recent years. It will grow from $21.96 billion in 2023 to $23.06 billion in 2024 at a compound annual growth rate (CAGR) of 5%. The growth in the historic period can be attributed to consumers seeking more diverse flavor profiles and ethnic cuisines, there is a rising demand for premium and organic canned, the growing popularity of plant-based diets, consumers are increasingly looking for healthier food options, and rise in demand for convenience foods.

The canned vegetable market size is expected to see strong growth in the next few years. It will grow to $28.36 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. Anticipated growth in the forecast period can be attributed to several factors, including the impact of extreme weather events, shifts in retail strategies, the expanding urban population, heightened demand for convenient food options, economic stability, and heightened awareness of health benefits associated with canned vegetables. Key trends expected in the forecast period encompass the incorporation of functional ingredients and fortification to enhance nutritional value, technological advancements to improve production processes, a focus on clean labeling to meet consumer preferences, the adoption of innovative packaging solutions to enhance shelf life and convenience, and the introduction of innovative flavors and ethnic varieties to cater to diverse consumer preferences.

The increasing consumption of various packaged food products is poised to drive the growth of the canned vegetable market in the foreseeable future. Packaged food encompasses items that are processed, preserved, and sealed in packaging for convenience, preservation, and distribution, often including pre-cooked or ready-to-eat meals, snacks, and ingredients. The rise in the consumption of packaged food products is fueled by shifting lifestyles, demands for convenience, and the globalization of food markets, offering a wide array of options to consumers seeking quick and easy meal solutions. Canned vegetables play a pivotal role in simplifying meal preparation and enhancing flavor profiles. For instance, as per a report by Euromonitor International in June 2023, the projected retail sales of packaged foods in Japan are anticipated to reach $235.9 billion by 2026, indicating a 9.1% increase or a $19.6 billion surge compared to 2022. Consequently, the uptick in the consumption of various packaged food products is propelling the growth of the canned vegetable market.

Key companies in the canned vegetable market prioritize revenue growth by introducing innovative products, including an organic canned vegetable offering. Organic canned vegetables are cultivated without synthetic pesticides or fertilizers, harvested at peak ripeness, and preserved in cans without added preservatives, maintaining their organic integrity. For example, in December 2022, Green Thumb Inc., a US-based consumer packaged goods company, unveiled Take Root Organics. This collection features a variety of high-quality, Certified USDA Organic and Non-GMO Project Verified canned tomatoes harvested by family growers in California's Central Valley. The product line includes diced tomatoes, crushed tomatoes, whole peeled tomatoes, tomato sauce, and tomato paste. These tomatoes are vine-ripened and packed at their peak freshness, resulting in a rich, delightful taste.

In September 2023, Seneca Foods Corporation, a US-based food distributor and processor, acquired the Green Giant U.S. shelf-stable business from B&G Foods for an undisclosed amount. With this acquisition, Seneca aims to gain access to a broad range of popular products synonymous with frozen and canned vegetables, aligning with its objective of offering nutritious, high-quality food options. B&G Foods Inc. is a US-based food holding company.

Major companies operating in the canned vegetable market are Nestlé S.A., The Kraft Heinz Company, Dole plc, Del Monte Foods Inc., TreeHouse Foods Inc., Bonduelle SA, Whole Foods Market Inc., B&G Foods Inc., Goya Foods Inc., Seneca Foods Corporation, Hanover Foods Corp., Century Pacific Food Inc., Landec Corporation, CHB Group, Ban Mai company, Planet Green Holdings Corp., Cento Fine Foods Inc., Ayam Brand, Edinborough Products (Pvt) Limited, Libby's, Farmer’s Market Foods, Mediterranea Belfiore SRL.

North America was the largest region in the canned vegetable market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the canned vegetable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the canned vegetable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Canned vegetables are vegetables that undergo processing, cooking, and sealing in airtight containers for preservation purposes. This method involves subjecting the vegetables to high temperatures to eliminate bacteria and enzymes, thus prolonging their shelf life. Canning helps to retain the nutrients and flavor of the vegetables, rendering them convenient and readily available for consumption at any time.

The primary types of products within the canned vegetable market include sliced, peeled, and other variations. Sliced canned vegetables are typically cut into thin, flat pieces, often uniform in shape and size, and are ready for use without the need for further chopping. These products are distributed through both store-based and non-store-based channels, catering to various applications such as culinary uses, salads and soups, toppings and dressings, among others.

The canned vegetable market research report is one of a series of new reports that provides canned vegetable market statistics, including the canned vegetable industry global market size, regional shares, competitors with a canned vegetable market share, detailed canned vegetable market segments, market trends, and opportunities, and any further data you may need to thrive in the canned vegetable industry. This canned vegetable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The canned vegetable market consists of sales of canned pumpkin, canned asparagus, canned beets, and canned mixed vegetables. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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