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Monday, May 23, 2022

Global Canned Food Market To Be Driven At A CAGR Of 3.97% In The Forecast Period Of 2022-2027

The new report by Expert Market Research titled, ‘Global Canned Food Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global canned food market, assessing the market based on its segments like product type, type, distribution channel, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

• Historical Market Size (2021): USD 102.72 billion
• Forecast CAGR (2022-2027): 3.97%
• Forecast Market Size (2027): USD 129.75 billion

The growth of the global market for canned food is driven by the growing demand for the organic, clean labelled, hygienic, and ready-to-cook food. The increasing health awareness among young population is further anticipated to propel the demand for canned fruits, vegetables, and other products over the forecast period. Additionally, the market is further aided by the increasing demand from consumers for the ready-to-eat products and ready-to-cook products from emerging nations. The factors such as hectic lifestyle and increasing inclination of consumers towards consumption of convenience foods are anticipated to bolster the market growth over the forecast period.

Market Segmentation

Canned food refers to the food products which are preserved using the canning method for extending the shelf life of fresh products. Canned foods are increasingly used for food storages due to its cost effectiveness and durable nature. Moreover, canned foods enhance the convenience while providing same nutrition value as fresh food.

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The major product types of canned food are:

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

The market can be broadly categorised on the basis of its types into:

• Organic
• Conventional

Based on distribution channels, the market is divided into:

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

The regional markets for canned food include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Trends

During the forecast period, North America is expected to lead the global canned food market. This is due to a large consumer base for canned food, established supply chain infrastructure, the growing popularity of convenience foods, and the presence of important businesses in the region. Because of the huge demand for canned fruits, vegetables, and other marine foods, North America is expected to be followed by Europe. Meanwhile, due to reasons such as a huge population base, increasing urbanisation, and rising acceptability of canned food consumption, Asia Pacific is predicted to develop at the quickest rate in the future years.

Key Market Players

The major players in the market are ConAgra Brands, Inc., The Kraft Heinz Company, Nestle S.A., Del Monte Foods, Inc., Princes Foods, CHB Group and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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