|Base Year Market Size
|USD 96.5 Billion
|Forecast Year Market Size
|USD 124.49 Billion
|Fastest Growing Market
The global canned food market size was valued at USD 96.5 billion in 2022. It is estimated to reach USD 124.49 billion by 2031, growing at a CAGR of 2.87% during the forecast period (2023–2031).
The rise of the canned food market will be fuelled by advertising initiatives similar to these, in addition to growing awareness about the positive effects of consuming canned food items on one's health. Canning is a method of preserving food that entails processing it and then sealing it in an airtight container (jars such as Mason jars and steel and tin cans). This form of food preservation is also known as "putting food by." Home canning is an option for those interested. The process of canning enhances the shelf life of food for anywhere between one and five years; however, there are some conditions under which this can be significantly prolonged for a longer period.
The shelf life of a product that has been freeze-dried and subsequently canned, such as lentils that have been dried and canned, can reach up to thirty years without losing its ability to be consumed. Cans of food that were recovered from the wreck of the Bertrand in 1974 were subjected to testing by the National Food Processors Association. In the year 1865, a riverboat by the name of Bertrand sank while traveling down the Missouri River. Researchers concluded that the food could still be taken without risk even though its appearance, odor, and vitamin content deteriorated over 109 years. They came to this conclusion because there was no evidence of microbial proliferation.
Various promotions and brand awareness programs play a key part in enhancing the total revenue growth of the food industry and driving demand for canned food products. These programs also play a role in the fact that various promotional opportunities are available. Manufacturers utilize various advertising and marketing strategies to differentiate their products from their competitors and keep their customers informed of their most recent product offers. It is anticipated that the rise of the canned food market will be fuelled by advertising initiatives similar to these, in addition to growing awareness about the positive effects of consuming canned food items on one's health.
The word "organized retail" corresponds to the more contemporary idea of "modern retail," which consists of store chains that sell various goods under one roof. "organized retail" is used interchangeably with "modern retail." The presence of these retail outlets is a crucial factor that contributes to the growth of the packaged food items industry. Customers have the convenience of buying at these kinds of retail stores since they offer a vast selection of canned food goods under one roof, making it possible for customers to do all of their food shopping in the same location.
This increase is driven by a mix of factors, including rising consumption rates, an urbanizing population, and a growing population in the middle class. The retail boom is backed by rapidly expanding economies, contributing to this expansion. A surge in foreign direct investment (FDI) has led to increased participation from private and public players in other countries, contributing to improvements in retail infrastructure.
Concerns have been raised on multiple occasions concerning the safety of food stored in cans. According to several studies, eating at fast food restaurants can lead to weight gain and other health problems. As a consequence of these health concerns, the expansion of the market for canned food has been severely hampered, leading to a shift in consumer preference away from canned food and toward fast casual dining.
Customers' shifting preferences for particular items have a substantial impact on the total revenue generated by the industry. Some customers avoid cans of food because they are allergic to the contents, have a sensitivity to them, or have a specific health condition such as diabetes. Consumers have started avoiding packaged foods like canned food since it contains various preservatives and chemicals. Instead, they have started eating more organic food, which typically contains fewer or no preservatives.
The implementation of the most recent production and packaging technology, as well as creative business methods, will prove beneficial for the sector. Due to the worldwide population rise, the market is projected to have a bigger demand. Introducing innovative new products is critical in assisting market participants in maintaining their position in the industry and retaining their existing clients. As customers' interests constantly shift, the most successful organizations' research and development divisions must develop novel packaging solutions to attract customers.
In addition, because customers are becoming increasingly concerned about their health, research and development departments now have the additional responsibility of ensuring that food does not react negatively with the various materials used for packaging and that it is safe for human consumption. As a result, you should provide opportunities for them to advance in the market.
Based on region, the global canned food market is bifurcated into North America, Europe, Asia-Pacific, and LAMEA.
Europe is the most significant global canned food market shareholder and is estimated to exhibit a CAGR of 2.9% over the forecast period. In terms of both production and consumption, Europe commands the majority of the market. Sustainable farming practices and the advantages of canned food items have increased their use in Europe. In addition, the growing population, changes in consumption habits, and consumer awareness of health issues have increased demand for better food items, boosting the market for canned foods. Sales of canned food goods in the area are projected to increase due to the region's steadily expanding demand for them. In keeping with this, leading market participants in the area are involved in the production of canned food items like fish and meat, as well as the launch of new goods to meet consumer demand and boost overall revenue.
North America is anticipated to exhibit a CAGR of 3.6% over the forecast period. Both in terms of production and consumption, North America is the world's second-largest region for canned food items. However, an existing market for canned food items presents a considerable opportunity for the industry. The market in this region is being driven by technical developments, growth in demand for convenience meals, healthy food high in protein, and increasing awareness among the general population regarding fresh canned food products. The existence of large market participants in the area, each of which has powerful brands and production facilities designed to handle enormous volumes of product, contributes to an increase in the amount of manufactured canned food.
Asia-Pacific is mostly comprised of developing nations, enticing global manufacturers to invest in them, creating chances for the market to expand in this area. Due to increased food and beverage producers and greater government interest, China now dominates the Asia-Pacific canned food market. In the previous few decades, the canned food business in China has experienced positive expansion at a rapid rate. Due to a sustained expansion in industrial import and export, consumer consumption, and capital investments, the nation has maintained a rapidly expanding economy. In addition, factors including rising consumer demand for convenience, rising disposable income, and shifting consumer behavior in the area are likely to impact the industry significantly.
In the LAMEA region, Brazil is considered the leader because of the high amount of money its consumers spend on food and beverages. Brazil has maintained a position among the top 10 nations worldwide regarding total food consumption. Manufacturing companies have many opportunities to invest in South Africa due to the country's growing development. Additionally, due to efforts made by the government to raise the amount of canned food, there has been a rise in the amount of canned food consumed in the region. It is projected that domestic food producers who embrace innovative approaches to the production of food will be beneficial to the canned food market in the Middle East and Africa.
|By Product Type
|By Distribution Channel
|CHB Group ConAgra Brands Inc. The Kraft Heinz Company JBS S.A. Campbell Soup Company Danish Crown Del Monte Foods Inc Nestle S.A. AYAM SARL. Princes Foods.
|U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
|China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
|Middle East and Africa
|UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
|Brazil Mexico Argentina Chile Colombia Rest of LATAM
|Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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The global canned food market is bifurcated into product type, form, distribution channel, and type.
Based on the product type, the global market is bifurcated into canned fruits and vegetables, canned meat and seafood, canned ready meals, and others.
The canned fruits and vegetables segment dominates the global market and is projected to exhibit a CAGR of 4.2% over the forecast period. Canned fruits and vegetables are typically made from wholesale raw ingredients that have not yet begun to decompose. They are treated and stored in airtight containers to preserve them longer. The canned fruits and vegetables segment is expanding significantly in the market due to consumer knowledge of the nutrients of canned fruits and vegetables and increased focus on their health.
Additionally, consumers favor canned fruits and vegetables due to their simple packaging and extended shelf life, which supports the market's expansion. Increased investments in food processing research and development, a strengthened canned food distribution network, and the long shelf lives of canned fruits and vegetables are all anticipated to contribute to the market's expansion significantly.
Based on distribution channels, the global canned food market is segmented into supermarkets/hypermarkets, convenience stores, e-commerce, and others.
The Supermarket/Hypermarket segment dominates the global market and is predicted to exhibit a CAGR of 3.2% during the forecast period. Consumers prefer to purchase canned food goods from supermarkets because they typically provide lower prices for products compared to other distribution channels. Consumers are drawn to the beautiful variety and high exposure of different canned food goods in supermarkets, which is anticipated to increase sales of canned food products. Additionally, many supermarkets have emerged due to lifestyle changes and rising wealth in various developing economies, further fueling market expansion. A hypermarket is a type of retail establishment that houses a variety of goods, including food, groceries, and merchandise. Comparatively speaking, hypermarkets offer a wider range of goods than supermarkets.
Additionally, these retail formats provide clients with a broad selection of goods at affordable prices and are typically found in locations that are conveniently accessible, which increases the segment's allure. Supermarkets and hypermarkets assist producers with product introduction and serve a big customer base. In supermarkets and hypermarkets, customers focus more on the complete shopping experience. Customers are drawn to shopping at supermarkets and hypermarkets by the pleasant shopping experience, well-organized selection, tidy surroundings, and welcoming service. Sales of canned food goods are anticipated to increase due to their attractive display and affordable prices in supermarkets and hypermarkets.
Based on type, the global market is bifurcated into organic and conventional.
The conventional segment owns the highest canned food market share and is predicted to exhibit a CAGR of 3.4% over the forecast period. Food goods that are traditionally canned are cooked and preserved in a closed container. The microbiological life that can cause food to spoil is eliminated with this heat treatment. Even though conventional food products are frequently manufactured with chemical pesticides, herbicides, and fertilizers, they are nevertheless considered safe for ingestion. Traditional canned goods are an appealing alternative for consumers due to reduced costs.
Additionally, it is a popular option for manufacturing canned food products due to the widespread availability of conventional foods produced globally. Consumers in emerging economies are price-conscious and aware of the nutritional advantages of canned food, which has increased demand for traditional canned food in developing nations.