Canned Food Market Outlook
According to the report by Expert Market Research (EMR), the Global Canned Food Market Size is projected to grow at a CAGR of 3.97% between 2023 and 2028. Aided by the increasing demand for ready-to-eat food products and the expanding applications of canned food across various segments, the market is expected to grow significantly by 2028.
Canned foods, a type of processed food preserved in airtight containers, are widely consumed in numerous dishes, ranging from vegetables, fruits, meats, and seafood to soups. Due to their long shelf life, convenience, and nutritional value, they have become a staple in modern households. In addition to their primary function as a food source, canned foods serve as excellent emergency provisions due to their long shelf life, compact nature, and lack of refrigeration requirements.
The growing consumer preference for convenience foods is a key driver propelling the global canned food market growth. The increase in awareness about the convenience and nutritional value of canned food has caused a significant shift towards these ready-to-eat products, leading to a surge in demand. Moreover, the fast-paced lifestyle of the modern consumer and the increasing trend of nuclear families have further enhanced the appeal of canned foods.
The widening applications of canned food in various culinary traditions also contribute significantly to the canned food market expansion. The hospitality and food service industry utilises canned foods extensively due to their ease of use, variety, and year-round availability. In the home cooking segment, canned foods are a popular choice for quick meal preparations, especially in regions where certain fresh ingredients may not be available all year round.
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Moreover, the ongoing trend of stockpiling essentials due to unpredictable circumstances, such as the recent COVID-19 pandemic, has boosted the canned food market. Furthermore, the rising demand for plant-based and organic canned foods has led to an increased focus on the production of such variants. With the rise of health consciousness and an increasing focus on sustainable practices, organic and plant-based canned foods have gained significant attention. This, in turn, is further expected to contribute to the canned food market expansion.
Canned Food Market Segmentation
The market can be divided based on product type, type, distribution channel, and region.
Market Breakup by Product Type
- Canned fruits and vegetables
- Canned Meat and Seafood
- Canned Ready Meals
- Others
Market Breakup by Type
- Organic
- Conventional
Market Breakup by Distribution Channel
- Supermarket/Hypermarket
- Convenience Stores
- E-commerce
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global canned food companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- ConAgra Brands, Inc.
- The Kraft Heinz Company
- Nestle S.A.
- Del Monte Foods, Inc.
- Princes Foods
- CHB Group
- Others
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