Canned Meat Market to Grow by USD 4.23 Billion from 2024-2028, Driven by Rising Demand for RTE Products and AI-Driven Market Transformation - Technavio

NEW YORK, Nov. 4, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global canned meat market  size is estimated to grow by USD 4.23 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.4%  during the forecast period. Growing demand for RTE products is driving market growth, with a trend towards plant-based meat gaining popularity. However, product recalls  poses a challenge.Key market players include American Tuna Inc., Ayam Sarl, Bolton Group Srl, Bumble Bee Foods LLC, Campbell Soup Co., Century Pacific Food Inc., Crown Prince Inc., Dongwon Group, Goya Foods Inc., Hormel Foods Corp., JBS SA, Keystone Meats, KING OSCAR INC., Oceans, Oscar Mayer, Smithfield Foods Inc, Thai Union Group PCL, Trident Seafoods Corp, Tyson Foods Inc., and Werling & Sons, Inc.

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Key Market Trends Fueling Growth

The canned meat market is experiencing a notable transition as consumers shift towards plant-based alternatives, driven by health and environmental concerns. This trend is transforming market dynamics, with established food companies and startups introducing plant-based canned meats to cater to evolving consumer preferences. These products offer a convenient, long-lasting, and sustainable protein source, appealing to those seeking dietary and ethical options. Major players like unMEAT, under Century Pacific Food, Inc., and Shinsegae Food have recently entered the market with plant-based luncheon meat and ham, respectively. The global demand for plant-based canned meats is increasing as more consumers adopt flexitarian or plant-based diets. Companies that innovate and cater to consumer needs will capitalize on this trend, ensuring continued growth in the canned meat market. 

The canned meat market is experiencing significant growth due to the increasing demand for convenience food products. Animal protein, in the form of canned poultry, pork, beef, and canned seafood, remains a popular choice for consumers. Packaged and frozen food, including canned bacon, sausage, ham, and luncheon meat, offer long shelf life and ease of use. Supply chain efficiency and sustainable packaging are key trends. Food labeling transparency and health benefits are important to health-conscious consumers. Plant-based meat alternatives, vegetarianism, and veganism are gaining traction. Processed meat, such as canned bacon and sausage, contain food stabilizers. Dietary patterns emphasizing protein-rich foods and nutritional benefits drive demand. Canned poultry meat, fish meats, and red meat provide essential nutrients like Omega-3 unsaturated fats. Meat consumption, especially processed meat, is under scrutiny due to health concerns. Online retail and specialty stores cater to diverse consumer preferences. Cold storage and online distribution enable prepared-to-eat canned meat accessibility. Health awareness is driving demand for canned fish, such as salmon and tuna, rich in nutrients. Food processing technology advances enhance product quality and shelf life. Canned meat continues to be a staple in a healthy diet. 

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Market Challenges

• Product recalls pose a significant challenge in the global canned meat market, as they can negatively impact consumer trust, brand reputation, and financial performance. Recalls often stem from issues related to food safety, regulatory compliance, and packaging defects. In July 2023, Panamerican Foods, LLC, a distributor and importer based in Kearny, NJ, recalled approximately 4,978 pounds of pork and beef bean stew products due to regulatory non-compliance. In January 2023, Conagra Brands, Inc. Recalled over 2.5 million pounds of canned meat and poultry products due to a packaging defect that could lead to contamination. These incidents underscore the importance of strict regulatory adherence, quality control measures, and advanced packaging technologies in preventing recalls. Effective communication strategies are also crucial for managing consumer concerns and maintaining transparency during recall events. Companies must invest in these areas to protect their brand reputation and mitigate the risks associated with recalls in the canned meat market.
• The canned meat market faces several challenges in today's business landscape. With the rise of online retail, traditional store-based sales are decreasing. Meat consumption trends shift towards health-conscious consumers preferring protein-rich, nutrient-dense foods like poultry and canned fish. Processed meat, such as luncheon meat and sausages, face criticism due to food stabilizers and dietary patterns. However, canned seafood offers nutritional benefits with omega-3 unsaturated fats, making it a healthy alternative. Poultry, beef, and pork in cans have long shelf lives, making them convenient and affordable for urban demand. Food processing and cold storage are crucial for maintaining quality and extending shelf life. Online distribution of prepared-to-eat canned meats is gaining popularity due to convenience. Red meat, such as canned beef and pork, face challenges due to health awareness and obesity concerns. Fish meats, including canned salmon and tuna, remain in demand due to their high protein, low-fat content. Overall, the canned meat market must adapt to changing consumer preferences and trends while maintaining affordability and convenience.

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Segment Overview 

This canned meat market report extensively covers market segmentation by

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product 
• 2.1 Canned beef
• 2.2 Canned poultry
• 2.3 Canned pork
• 2.4 Canned seafood
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline-  The offline distribution channel continues to be a significant segment in the global canned meat market. Traditional retail outlets, including supermarkets, hypermarkets, and grocery stores, offer convenience and accessibility for consumers. Consumers often prefer purchasing canned meat products through these channels due to the immediate availability and the ability to physically inspect products before buying. This preference is particularly strong among those who value the tactile shopping experience and the assurance of product quality. Notable developments in the offline channel include the expansion of plant-based canned meat brands into large retail chains, such as Walmart and H-E-B. These partnerships reflect growing consumer demand for plant-based alternatives and the importance of retail giants in reaching a wide audience. Traditional canned meat products continue to hold a significant market share, with established brands ensuring consistent consumer access and reinforcing brand loyalty. Retailers face challenges from the rise of e-commerce and online grocery shopping. To attract and retain customers, they must focus on creating engaging store layouts, offering promotions, and ensuring product availability. Opportunities for growth include expanding product offerings to include both traditional and plant-based canned meat products, leveraging data analytics to understand consumer preferences, and collaborating with popular brands to introduce exclusive products. In summary, the offline distribution channel remains a vital component of the global canned meat market, offering advantages such as immediate availability, tactile shopping experience, and product inspection. Retailers must innovate to compete with e-commerce and online shopping, focusing on engaging store layouts, promotions, and product availability. Expanding product offerings, leveraging data analytics, and collaborating with popular brands are key strategies for growth.

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Research Analysis

The canned meat market encompasses a wide range of convenient and affordable animal protein options, including canned fish and lungeon meat. These packaged food items offer extended shelf life, making them a staple in many households. The supply chain for canned meat is intricate, involving food processing, cold storage, and online distribution. Sustainable packaging and clear food labeling are increasingly important considerations in this market. Consumers are turning to canned meat for its nutritional benefits, as they provide a rich source of protein. Health awareness has led to a growing interest in plant-based meat alternatives and vegetarianism. Poultry, pork, beef, and seafood are popular choices, with canned poultry meat and canned fish being particularly popular. Food processing plays a crucial role in ensuring the safety and quality of canned meat products. Red meat and beef are also available in canned form, while obesity concerns have led to increased demand for leaner options like pork and poultry. The market for canned meat is diverse and dynamic, reflecting changing consumer preferences and dietary trends.

Market Research Overview

The canned meat market encompasses a wide range of convenient and affordable animal protein options, including canned fish, lungeon meat, bacon, sausage, ham, and various types of poultry and red meat. These packaged food items offer extended shelf life and are available in both specialty stores and online retail channels. The supply chain of canned meat involves food processing, cold storage, and online distribution. Sustainable packaging and food labeling are essential considerations in the canned meat industry, with health-conscious consumers increasingly seeking out nutrient-rich, plant-based alternatives, such as tofu and textured vegetable protein. Dietary patterns, including vegetarianism and veganism, are driving demand for meat substitutes. Canned meat products offer various health benefits, including high protein, low fat, and omega-3 unsaturated fats. Processed meat, such as bacon and sausage, have been linked to health concerns, including obesity and meat consumption. Food stabilizers and additives are used to maintain the quality and texture of canned meat products. Food processing plays a significant role in the canned meat market, ensuring the safety and nutritional value of the final product. Health awareness and the trend towards prepared-to-eat meals are also driving growth in this sector. The market caters to both urban demand for convenience and affordability and non-store-based channels. Canned poultry meat, fish meats, and seafood are popular choices for those following a healthy diet, providing essential nutrients and proteins. The market for canned meat is diverse and caters to various dietary needs and preferences.

Table of Contents:

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

• Distribution Channel
• Offline
• Online
• Product
• Canned Beef
• Canned Poultry
• Canned Pork
• Canned Seafood
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

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.

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SOURCE Technavio