Global Canned Food Market, By Product Type, By Distribution Channel, By Type, Estimation & Forecast, 2017 - 2030

The global canned food market held a market value of USD 100,887.9 Million in 2021 and is projected to reach USD 146,720.8 Million by the year 2030. The market is anticipated to grow at a CAGR of 4.2% from 2022 to 2030.

Canned foods are foods which are preserved using the process of canning. The market is expected to be driven by the increasing demand from emerging markets, rising awareness among consumers, and growth in organized retailing are also estimated to fuel the market growth. Inclination of consumers for consuming food which are conveniently available, are expected to provide lucrative opportunities for the market growth.

Despite the driving factors, food contamination & disease and growing health awareness regarding preservatives & chemicals are anticipated to hinder the market growth. During the COVID-19 pandemic, the market was negatively impacted due to global lockdowns and lessened availability of food products. These lockdowns also increased the product prices, which decreased consumer’s bargaining power. Hence, the pandemic resulted in declining revenues.

Growth Influencers:

Growing awareness among consumers

Canned food help in preserving nutrients, just like the fresh foods. Studies have found that the amount of proteins, carbohydrates, and fats, among other nutrients in canned food products relatively remain same. Furthermore, some of the canned food products contain more minerals and vitamins, as compared to the fresh products. These products also have longer shelf lives and are also ready to eat as well as easy to use while meal preparation. Awareness regarding benefits of canned food among consumers are expected to fuel the market growth.

Segments Overview:

The global canned food market is segmented into product type, distribution channel, and type.

By Product Type,

• Canned Fruits and Vegetables
• Canned Meat and Seafood
• Canned Ready Meals
• Others

The canned meat and seafood segment is expected to account for the largest market share of over 44% owing to the increasing demand for seafood and meat products worldwide. The canned ready meals segment is estimated to witness the fastest growth rate of around 5.5% over the forecast period owing to the rising demand for convenient food products.

By Distribution Channel,

• Supermarket/Hypermarket
• Convenience Stores
• E-Commerce
• Others

The convenience stores segment is anticipated to grow at a CAGR of 3.8% during the projected period owing to the increasing number of convenience stores globally. The e-commerce segment is estimated to surpass a market size of USD 10,000 million by 2027 owing to the increasing popularity of e-commerce grocery stores and other sites amongst the consumers.

By Type,

• Organic
• Conventional

The organic segment is estimated to hold the largest market share owing to the rising consumer inclination towards organic food products. The conventional segment is also anticipated to witness significant growth rate.

Regional Overview

By region, the global canned food market is divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America.

The Europe region accounted for the largest market share of more than 42% owing to the high consumption of canned food in the region. According a data published by the Global Trade, in 2019, consumption of canned food was 445,000 tonnes in Germany, 380,000 tonnes in France, and 357,000 tonnes in the UK.

The Asia Pacific region is expected to witness the fastest growth rate of about 5% owing to growing disposable income. Furthermore, busy lifestyle of consumers owing to the rising employment rate is also expected to boost the market growth.

Competitive Landscape

Major players in the global canned food market include Campbell Soup Company, Ayam Sarl, Danish Crown, CHB Group, JBS, Conagra Brands, Inc., The Kraft Heinz Company, Del Monte Foods, Inc, Princes Foods, Nestle S.A., and Other Prominent Players. The cumulative market share of the six major players is more than 21%.

These market players are involved in collaborations, mergers & acquisitions, and new product launches, among other initiatives, to strengthen their market presence. For instance, in October 2021, Kraft Heinz acquired Assan Foods from Kibar Holding, a Turkey-based conglomerate. Through this, the company expanded its presence in key growth markets, such as the Middle East, Africa, and Europe.

The global Canned food market report provides insights on the below pointers:

• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Canned food market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The global Canned food market report answers questions such as:

• What is the market size and forecast of the Global Canned food Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Canned food Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Canned food Market?
• What is the competitive strategic window for opportunities in the Global Canned food Market?
• What are the technology trends and regulatory frameworks in the Global Canned food Market?
• What is the market share of the leading players in the Global Canned food Market?
• What modes and strategic moves are considered favorable for entering the Global Canned food Market?