The canned foods market is predicted to register a moderate CAGR of 4.2% during the upcoming forecast years. While the net worth of the global canned foods market size is estimated to reach a value of nearly USD 25.6 Billion by 2033 expanding from the present value of USD 17 Billion in 2023.
The global market is also supposed to achieve a higher growth rate due to the health advantages linked with hygienic canned food items. When food products are preserved by canning it gives them a longer shelf life and retains their nutrition and protects them from external influences like air and sunshine that may cause them to deteriorate.
The growing trend of buying fruits and vegetables in cans is mostly related to customers' desire to spend money on clean and usable food items. In order to provide increase their consumer base, canned food market players targeting the online channels have adopted reasonable rates and creation of contemporary trades and convenience store outlets as well.
The use of tinned fish in Japanese cooking, particularly salmon and tuna, which improves the flavor and texture of the final dish is a major factor in the acceptance of canned food in this country. Such trends are expected to generate greater opportunities for the expansion of the canned food market in other parts of the world as well.
Unfortunately, there has been a growing concern over the growing sales of canned foods in all major economies as the cans used to make the canned food items are made of tin and aluminium and none of them decompose naturally. The use of tin and aluminium cans has also been discouraged by governments in many different nations, which is anticipated to have a detrimental influence on the canned foods market growth. Additionally, these metal cans are less costly than glass bottles and have a far greater rate of recycling than glass containers.
| Attributes | Details |
|---|---|
| Canned Foods Market Share (2022) | USD 16.3 Billion |
| Canned Foods Market Size Value (2023) | USD 17 Billion |
| Canned Foods Market Size Value (2033) | USD 25.6 Billion |
| Canned Foods Market Growth Rate (2023 to 2033) | 4.2% |
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The expansion of the canned or tinned food business has been supported by the rise in customer demand for primed and fully prepared food items in both established and emerging nations. Moreover, the increase in working professionals in all countries and the diminution of their available cooking time have had a favorable influence on canned foods market opportunities. Such numerous advantages are expected to continue the sharp rise in sales of canned foods and make the business extremely profitable in the near future.
Pasteurized and canned crab meat is the second most popular canned seafood item after canned tuna fish that is marketed in Asia Pacific nations.
As per the canned foods market survey report of 2022, the canned seafood category is the major revenue-generating product type in almost all regions which makes it the largest contributing segment. To add a genuine flavor, several fast food businesses and restaurants are using canned fish and canned seafood which is expected to retain the dominance of this segment over the forecast years as well. Furthermore, to meet this increasing demand, several canned foods market key players are increasing their capacity for producing seafood cans these years.
On the opposite hand, the market share of other canned commodities such as meat, fruit, and vegetables is limited as fruits and vegetables are very easy and inexpensive to find and purchase. Interestingly again, the share of these product types is also experiencing a very positive growth rate nowadays with the proliferation of online distribution channels. The canned fruits and vegetable segment, in particular, is projected to register a CAGR of 4.5% over the forecast years.
Consumers of canned foods around the world favor supermarkets and hypermarkets since their large selection of home goods and other vital and non-essential items make it easier for them. Also, considering the wide variety of canned foods supplied by a variety of brands at different price points, this segment is predicted to hold a significant share of the market during the forecast years as well.
However, in the recent past, c customers' attention has been captured by the convenience and simplicity provided by the e-commerce platforms or online retail channels mass merchandisers, the existence of product-specific aisles, and the many bundling schemes. Since consumers these days like to have their purchases delivered right to their front door, the online retail channel for the canned food industry is projected to grow at a faster rate than the offline distribution channel.
Principal Consultant
| Countries | Canned Foods Market CAGR |
|---|---|
| USA | 3.8% |
| Canada | 4.6% |
| China | 6% |
| Japan | 4% |
| Germany | 4.2% |
By the year 2025, the market for canned foods in the world is expected to reach a worth of around USD 16 Billion. The growing demand for processed and packaged food and beverages is expected to drive the expansion of the global canned food industry. The USA has a developed economy with a sizable consumer base and a sizable working-class population that creates a huge demand for canned food products.
The regional canned food market of the USA has also been pushed by improvements in market regulations and the expansion of the supply chain to Latin American countries. The rising popularity of convenience meals among the working section of these countries has increased the export of canned food from the USA in the last few years.
Europe Union is anticipated to have the second-largest share of the global canned foods market and the overall market is predicted to register a CAGR of 4.5% during the forecast years. Approximately 42% of all imports into the world are canned fruits and vegetables from European countries. Italy France, Germany, the United Kingdom, and the Netherlands are the nations considered to be the leading importers and consumers of canned foods.
Drained canned quinoa was introduced in April 2020 by the Italian cookery under the brand Napolina as part of that new line of ready meals or convenience foods. Other goods in the line-up include cannellini canned beans, canned pumpkins, and canned coconut milk which are getting very popular in many European countries.
China's canned foods market is anticipated to register the highest CAGR of 6% from 2023 to 2033 to achieve a total market size of nearly USD 26.6 Billion. Due to its large population, China already accounts for a sizeable portion of the global canned foods market. Moreover, the quantity of canned food consumed each year is increasing further as a result of rapid urbanization and the widespread influence of western culture.
In the worldwide market for canned foods, the Asia-Pacific region is seeing the fastest growth, particularly in the tinned meat, seafood, and imported fruit categories. Canned crab meat is imported in significant amounts into nations like China, Japan, and Korea making it one of the favorite destinations for canned foods market players operating in this particular sector.
Due to the increased demand for canned food from the millennial generation, India is emerging to be a very lucrative market for canned food companies these days. Growing trade relations of India with many European Nations are expected to present a favorable market opportunity potential for canned food exporters in this country.
Additionally, in India, packaged food producers have started producing the most well-liked regional cuisines, including poha, upma, and so forth, in readily available cans that have gained sufficient traction in the global market recently. Consequently, multiple regional food safety and regulatory organizations, including the central Food Safety and Standards Authority of India, have approved a large number of traditional canned food companies which is expected to boost the studied market in the coming days.
Due to the existence of several leading companies in the canned foods industry, the global market landscape is quite structured. Opportunities are predicted to be generated for various local companies by increasing investments from various multinational corporations, particularly from major regions with the highest sales of canned food such as the USA, Canada, and Mexico.
To meet the rising needs and changing consumer tastes, these producers are concentrating on the introduction of new products with new packaging and marketing. For instance, Ye Olde Oak Foods Ltd., which is a manufacturer of packaged hot dogs and meat, created a new webpage in May 2020 with assistance from the digital marketing firm Fablr Ltd. This step of online entry was taken by the Company in order to establish more customers and promote their products beyond the areas covered by the outlets.
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The global canned foods market is to grow at 4.2% during the forecast period.
The global canned foods market is predicted to be valued at USD 25.6 Billion by 2033.
The global canned foods market was valued at USD 16.3 Billion in 2022.
The USA accounts for the largest revenue share of the global canned foods market revenue.
China is predicted to register the highest CAGR of 6% in the canned foods market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Canned Meat Products 5.2. Canned Fish/Seafood 5.3. Canned Vegetables 5.4. Canned Fruits 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 6.1. Supermarket/Hypermarket 6.2. Convenience Stores 6.3. Online Retail Sales 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa (MEA) 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. The Kraft Heinz Company 15.2. Bolton Group 15.3. CSC Brands, L.P. 15.4. Conagra Brands, Inc. 15.5. Nestlé 15.6. Danish Crown Amba 15.7. Del Monte Foods, Inc. 15.8. JBS 15.9. Holyland Marketing Private Limited 15.10. Campbell Soup Company 16. Assumptions & Acronyms Used 17. Research Methodology
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Canned Foods Market
