CLEVELAND, March 10, 2017 /PRNewswire/ -- US shipments of canned foods are forecast to total $56.8 billion in 2021, representing annual growth of 2.0%, according to Canned Foods: United States, a report recently released by Freedonia Focus Reports. Advances will stem from population and income growth in domestic and export markets. Increasing levels of disposable personal income will support consumer spending on premium canned goods that offer high-quality food in a convenient format. The food service industry's reliance on canned food items will represent an additional driver of growth. However, the perception among many consumers that fresh food is healthier than canned food will continue to restrain demand for and corresponding industry production of the latter.
Shipments of canned dressings and sauces are forecast to reach $17.6 billion in 2021, representing annual gains of 1.5%. The ubiquity of these products in various meals will support sales. Premium products, including those with organic ingredients, will also help to boost growth.
Another trend expected to drive sales in this segment is the growing popularity of condiments borrowed from or inspired by international cuisine. Instead of traditionally flavored ketchup and mayonnaise, many consumers are opting to accent their food with condiments such as harissa, gochujang, sambal oelek, and sriracha. Once largely relegated to specialty stores, many of these products are now broadly available for purchase in mainstream retail outlets and as a condiment choice in restaurants.
This report forecasts US canned food shipments in US dollars at the manufacturers' level to 2021. Total shipments are segmented by product in terms of:
- dressings and sauces
- fruits and vegetables
- dog and cat food
- meat, poultry, and seafood
- soups and stews
- other products such as canned baby food and peanut butter.
More information about the report is available at https://www.freedoniafocusreports.com/Canned-Foods-United-States-10693802/
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at www.freedoniafocusreports.com or marketresearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/us-canned-food-shipments-to-approach-57-billion-in-2021-300421981.html
SOURCE The Freedonia Group