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2020
Canned Food Market

Canned Food Market

by Product Type (Canned Meat & Seafood, Canned Fruit & Vegetables, Canned Ready Meals, and Others), Distribution Channel (Supermarket/Hypermarket, Convenience stores, E-commerce, and Others), and Type (Organic and Conventional): Global Opportunity Analysis and Industry Forecast, 2019-2026

Report Code: A05939
Pages: 240
Jan 2020 | 18221 Views
Author(s) : Shankar B , Roshan D
Tables: 124
Charts: 60
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The canned food market size was valued at $91.4 billion in 2018, and is estimated to reach $124.8 billion by 2026, registering a CAGR of 3.9% from 2019 to 2026. In 2018, the canned meat & seafood segment accounted for more than one third of the total canned food market share. Canning of food products is a preservation method, which includes sealing and sterilizing of food products in airtight containers. Various canned food products offered in the market include seafood, meat, fruits, vegetables, meals, sweets & desserts, soups & sauces, beans, lentils, and pastas. Canning process retains many essential nutrients; hence, canned food products have been one of the preferred choices of the preserved food products in the market. 

Owing to busy lifestyle, consumer inclination toward the consumption of convenience food products has increased during the recent past. Due to retention of high amount of nutrients, color and flavor, canned foods have become one of the most preferred choices of preserved foods among consumers. 

Canned Food Market

Growing number of working women has increased the dependency of consumers on ready meals and convenience foods. This, in turn, has led to the growth in demand for shelf stable and nutritious food, which ultimately fuels growth of the canned food market. Furthermore, rapid surge in number of large retail formats worldwide, including hypermarkets/supermarkets and e-commerce channels, fuels the demand for canned food products. With rise in health concerns, consumers are increasingly spending more on organic food products, which offers opportunities for manufacturers to focus on organic canned food products.  Manufacturers focus on providing canned food products in a range of options along with high quality, taste, and nutritional value to maintain their position in the competitive market. 

According to the canned food market Analysis, the market is segmented on the basis of product type, distribution channel, type, and region. By product type, it is categorized into canned meat & seafood, canned fruit & vegetables, canned ready meals, and others. By distribution channel, it is divided into supermarket/hypermarket, convenience stores, e-commerce, and others. By type, it is bifurcated into organic and conventional. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA ( Latin America, the Middle East, and Africa).

Canned Food Market
By Product Type

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The ready meals segment would witness the fastest growth, registering a CAGR of 5.1% during the forecast.

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On the basis of product type, the canned meat & seafood segment accounted for the maximum share in the global market in 2018. Canned meat & seafood has been the most preferred choice of canned food among consumers due to growing demand for meat and seafood products globally, coupled with rise in demand for high protein foods in the market. Owing to this demand for convenience food products, the market for ready meals is likely to grow at the highest CAGR during the canned food market forecast period. 

Canned Food Market
By Type

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Organic segment would witness the fastest growth, registering a CAGR of 6.4% during the forecast period.

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On the basis of distribution channel, the supermarket/hypermarket segment was dominant, which accounted for around half of the share in the canned food market in 2018, and is expected to retain its dominance throughout the forecast period. Supermarkets/hypermarkets are most preferred for purchasing canned foods in bulk volumes. Hence, owing to the significant presence of chained and independent supermarkets/hypermarkets in developed countries and growing penetration of supermarket/hypermarkets in developing countries has led to its higher share in the canned food market. Due to busy schedule of consumers and rise in their inclination toward convenient lifestyle, they are actively engaged in purchasing canned food products through e-commerce channels. This is likely to lead to the highest growth rate of the e-commerce segment during the forecast period.

Canned Food Market
By Distribution Channel

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E Commerce segment would witness the fastest growth, registering a CAGR of 6.8% during the forecast period.

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On the basis of type, the conventional segment held a significant share in the global market in 2018. However, the organic segment is expected to garner a considerable growth rate, owing to increase in consumer inclination toward organic food products. Due to surge in knowledge and awareness about the ill effects of synthetic chemicals on health, consumers have become conscious about the food products they consume. This is likely to lead to the significant growth of organic variants of canned foods in the market. 

Canned Food Market
By Region

2026
Europe 
North America
Asia-Pacific
LAMEA

Asia-Pacific is the largest market growing at a CAGR of 5.9% from 2019-2026.

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On the basis of region, Europe was the prominent market in 2018 and accounted for the maximum share in the global canned food market. This is attributed to high consumption of canned food products in majority of the European countries including Germany, France, Italy, and the UK. Consumers in this region are attracted by canned food products with new flavors, textures, and higher nutritional value, which leads to the canned food market growth of the market in the region. Furthermore, Asia-Pacific is expected to witness the highest CAGR, owing to the rise in disposable income and busy lifestyle of consumers as a result of higher employment and rising working women population in the region.

The players in the canned food market have adopted business expansion as their key developmental strategy to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in the report include Del Monte Foods, Conagra Brands, Kraft Heinz, Nestlé, Campbell Soup Company, JBS, CHB Group, AYAM, Danish Crown, and Bolton Group.

Key Benefits for Stakeholders:

  • The report provides a quantitative analysis of the current canned food market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assists in determining the prevailing canned food market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the canned food industry. 

Canned Food Market Report Highlights

Aspects Details
By Product Type
  • Canned meat & seafood
  • Canned fruit & vegetables
  • Canned ready meals
  • Others
By Type
  • Organic
  • Conventional
By Distribution Channel
  • Supermarket/Hypermarket
  • Convenience stores
  • E-commerce
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players ConAgra Brands, Inc., The Kraft Heinz Company, Nestle S.A., Del Monte Foods, Inc, Princes Foods, CHB Group, JBS S.A., Campbell Soup Company, AYAM SARL., Danish Crown
 

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Rise in demand for innovative flavors and types of canned food products is among the major factors that boosts canned food consumption. A huge demand for organic canned foods has been noted during the past years, which is expected to continue during the forecast period. Consumer inclination toward organic products with high nutritional content is among the major factors that drive the market. The demand for innovative packaging, new products, and flavors has led manufacturers to invest more in R&D i to introduce innovative canned food products in the market.

Canned food consumption is led by Europe, which also has higher consumption of convenience food products compared to other regions. Asia-Pacific has been offering incremental opportunities for canned food; hence, the market in the region is expected to grow at the highest CAGR during the forecast period. The market is consolidated in nature and players such as Kraft Heinz, Del Monte Foods, Conagra Brands, Nestle, and Campbell Soup Company account for significant shares in the global canned food market. Owing to the increase in demand for convenience, the canned food market is expected to grow significantly in the coming years.

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FREQUENTLY ASKED QUESTIONS?

A. The global canned food market was valued at $91.6 billion in 2018

A. The global canned food market is anticipated to reach $124.8 billion by 2026.

A. You can visit the report link on the website of Allied Market Research and send a sample request.

A. The canned food market is likely to grow at the compound annual growth rate of 3.9% during the forecast period.

A. Canned meat and seafood segment is likely to lead the canned food market during the forecast period.

A. Growth of retail sector and the demand for product with innovative flavor and packaging offers opportunity for the growth of the canned food market.

A. The growing demand from emerging markets, growing awareness among the consumers about canned food products, and growing organized retail is likely to drive the market growth for canned food. However, incidence of food contamination and disease and health awareness against the use of preservatives are likely to restrain the market growth.

A. The leading manufacturing companies in the Canned food market include Del Monte Foods, Conagra Brands, Kraft Heinz, Nestlé, Princes foods, Campbell Soup Company, JBS, CHB Group, AYAM, and Danish Crown.

A. Europe is expected to hold the highest market share in the global canned food market

A. Owing to the increasing demand for food offering convenience and demand for organic canned food products, the market is likely to grow at a significant rate during the forecast period.

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