The United States canned food Market is valued at US$19.871 billion in 2020. Canned Foods are a type of food items which have been processed and sealed in an airtight container for preservation to extend the shelf life of the product. Canned foods are preferred more due to the fact that they are easily available in the market and are an important part of the diet of many individuals. So, in this country, as the consumption of such foods increases, the demand also increases which will play a role in boosting the market growth of canned foods. Moreover, as canned foods of good quality are coming up the demand is further increasing which will also bolster the market. Additionally, investments coupled with new product launches by some key players will also boost the market growth in the coming years.
Market Trends
Food processing is one of the key manufacturing sectors in the US, driving the demand for canned food in this region. Food cans are the primary choice for processed food packaging, such as beans, tuna, and so on, due to their ease of disposal, recycling advantages, and increased shelf life. According to 24/7 Wall Street, about 98% of Americans keep canned foods in their kitchens. Further, according to a survey conducted by USA Today in 2020, canned foods are so popular in the US that Americans use them even when preparing meals at home. Food poses a high cost of living in the region, and canned food is often cheaper than fresh or frozen food. Further, developments by market players in the region are expected to strengthen the market. For instance, in July 2021, Bonduelle USA, Inc, a company involved in the processing and marketing of canned and frozen vegetables in the US, announced plans to invest at least USD 5 million to expand its business in Pennsylvania. Moreover, the growing trend for organic canned fruits and vegetables and the focus on social media marketing and promotions further add to the revenue-generating factors in the US canned food market. Many major retailers in the area, such as Costco and Wal-Mart, are projected to drive canned food regional market growth during the forecast period.Packaging innovations to drive growth
The growing trend in the canned food market is driven by innovations in packaging. With the increase in demand for chemical-free canned foods, manufacturers have been focusing on innovations in packaging. Many brands across the US of canned food products, like Health Valley, AMY's Kitchen, and Juanita's Food, have started offering food in BPA-free containers. Steel Canned food is considered an accessible alternative to people's needs for safe, nutritious, quality produce and protein. This is because steel cans are 100% recyclable and made from a minimum of 25% recycled content. In October 2021, Ball Metalpack installed a new food can production at the Milwaukee facility in the US. The new high-speed two-piece line began operations to produce millions of food cans annually, including steel can production. This is expected to enable the company to meet the growing demand from customers in the food and nutrition industry, thus driving growth in the market. Further, innovations such as easy-to-open pull tabs and resealable cans can expand the steel food cans market. Since its beginning, the CFA (Canned Food Alliance) has generated billions of media opinions and communicated the advantages of canning and steel packaging to thousands of nutrition experts and members of the region's federal, state, and local governments. Thus, this step towards safe packaging of canned is expected to attract more customers thus driving the growth of the market.COVID-19 Insights
The outbreak of the COVID-19 pandemic caused a positive impact on the consumption of canned foods in Canada as more people turned to home cooking and retail purchases. Retail is one of the main points of sale for canned food, for which the demand saw an increase, during the initial phases of COVID-19 and the period of lockdown. The sales of canned products increased during the lockdown in the country due to their long shelf life, which attracted consumers who were subjected to home quarantines, owing to regulatory measures restricting ease of movement by the government of the nation.Market Segmentation:
By Type
- Canned Fish/Seafood
- Canned Meat Products
- Canned Fruits
- Canned Vegetables
- Other Canned Foods
By Distribution Channel
- Online
- Offline
- Supermarket/Hypermarket
- Convenience Stores
- Others
Table of Contents
1. INTRODUCTION1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. US CANNED FOOD MARKET, BY TYPE
5.1. Introduction
5.2. Canned Fish/Seafood
5.3. Canned Meat Products
5.4. Canned Fruits
5.5. Canned Vegetables
5.6. Other Canned Foods
6. US CANNED FOOD MARKET, BY DISTRIBUTION CHANNEL
6.1. Introduction
6.2. Online
6.3. Offline
6.3.1. Supermarket/Hypermarket
6.3.2. Convenience Stores
6.3.3. Others
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. COMPANY PROFILES
8.1. Campbell soup company
8.2. Kraft Heinz Company
8.3. Bush Brothers and Company
8.4. Chef Boyardee
8.5. Del Monte Foods Holdings Limited
8.6. Conagra Brands, Inc.
8.7. Dole Packaged Foods LLC
Companies Mentioned
- Campbell soup company
- Kraft Heinz Company
- Bush Brothers and Company
- Chef Boyardee
- Del Monte Foods Holdings Limited
- Conagra Brands, Inc.
- Dole Packaged Foods LLC
Methodology
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