Canned Food Market size is set to grow by USD 29.44 bn from 2023-2027, New product launches to boost the market growth, Technavio

NEW YORK, May 14, 2024 /PRNewswire/ -- The global canned food market size is estimated to grow by USD 29.44 bn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 4.3% during the forecast period. 

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Key Market Trends Fueling Growth

The canned food market is witnessing a shift towards chemical-free options, with brands like Conagra Brands and The Hain Celestial Group Inc. offering BPA-free containers. New technologies, such as Soy-PK Reactive Oligomer Cross-Linker, are emerging as alternatives to BPA-containing cans. Key trends include consumer focus on health, allergies, and sensitivities, leading to increased demand for organic and functional fibers, vitamins, and Omega-3 fatty acids. The convenience foods market, driven by fast-paced lifestyles and consumer purchasing power, is also influencing the canning industry. Retail infrastructure, including food retail outlets and convenience stores, plays a crucial role in the market's growth. Key products include canned corn, tomato purees, pastes, and pickled vegetables. 

Market Challenges

• The canned food market encompasses various industry applications, including retail and hospitality sectors, emergency food supplies, and niche markets. Key trends include extended shelf life, consumer demand for organic and premium canned products, and sustainable packaging solutions. Product innovation focuses on alternative packaging methods, flavor variants, and nutritional value. Canned meat, seafood, fruit, vegetables, and ready meals are prominent categories, with e-commerce platforms driving sales growth. Companies prioritize eco-friendly packaging, formulations, and product categories to cater to evolving consumer lifestyles and preferences.

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Segment Overview 

This canned food market report extensively covers market segmentation by

1. Product 
• 1.1 Canned fish and seafood
• 1.2 Canned vegetables
• 1.3 Canned meat
• 1.4 Canned ready meals
• 1.5 Others
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Canned fish and seafood- The canning process, a crucial aspect of food preservation, has significantly contributed to the growth of the canned food market. Mason jars and home canning techniques have resurfaced in popularity, allowing consumers to preserve their own fruits, vegetables, and even meats. However, it's essential to ensure proper sterilization and maintain an airtight seal to prevent microbial proliferation. Brand awareness programs play a pivotal role in driving consumption rates, with major players investing in marketing strategies to promote their canned food products. Retail infrastructure and partnerships with fast food restaurants and restaurants have expanded the market's reach, making canned food a convenient option for those with allergies, sensitivities, or health conditions. Organic food options, including canned corn, tomato purees, and canned pickled vegetables, cater to the growing demand for healthy food sources rich in protein, functional fibers, vitamins, and omega-3 fatty acids. Plastic packaging, while convenient, raises concerns regarding recycling rates and environmental impact. The convenience foods market thrives in the fast-paced lifestyle of modern consumers, with canned food products offering long shelf lives and ease of use. Importers play a significant role in bringing a diverse range of canned food products to consumers, from exotic cuisine recipes to essentials like canned tuna and beans. Consumer purchasing power and dietary transitions influence the market, with an increasing preference for animal-sourced food and a decrease in refined grains and convenience foods. Cooking skills and fatigue levels also impact the demand for canned food products, making them a go-to option for those seeking nutritious, quick meals.

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Research Analysis

In today's fast-paced lifestyle, the canned food market continues to thrive, offering consumers convenient and long-lasting options for preserving essential nutrients from foods like corn, tomato purees, and vegetables. Mason jars and home canning are popular methods for food preservation, ensuring a shelf life that surpasses fresh produce. However, with the rise of convenience food products and the influence of fast-food chains and restaurants, consumer purchasing power and rules and regulations play a significant role in shaping market trends. The demand for organic, organically grown products, and functional fibers adds to the market's diversity. Freeze-dried food and protein-rich options cater to health-conscious consumers, while the canning industry adapts to meet evolving consumer needs and preferences.

Market Research Overview

In the canned food market, various brands offer a wide range of preservative-sealed food products. These include fruits, vegetables, meats, soups, and pastas. Brands use advanced freezing and canning techniques to ensure the retention of nutrients and freshness. The convenience of canned food makes it a popular choice for consumers, especially for those with busy lifestyles or limited access to fresh produce. Additionally, canned food is an essential staple during emergencies and natural disasters. Brands prioritize safety and hygiene in their production processes, ensuring that consumers receive high-quality, nutritious, and safe food products. The canned food market caters to diverse dietary needs, including vegetarian, gluten-free, and low-sodium options. Overall, canned food provides an affordable, convenient, and nutritious solution for consumers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Canned Fish And Seafood
• Canned Vegetables
• Canned Meat
• Canned Ready Meals
• Others
• Distribution Channel
• Offline
• Online
• Geography
• Europe
• North America
• APAC
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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SOURCE Technavio