New Analysis from Global Industry Analysts Reveals Steady Growth for Canned Fruits, with the Market to Reach $12.8 Billion Worldwide by 2026

SAN FRANCISCO  , April 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Canned Fruits - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 17; Released: February 2022
Executive Pool: 1734
Companies: 77 - Players covered include A. CLOUET & CO (KL) SDN. BHD; CHB Group; Del Monte Food, Inc.; Delicia Foods India Pvt. Ltd.; Dole Packaged Foods LLC; Golden Circle; Princes Limited; Rhodes Food Group Holdings Ltd; Seneca Foods Corporation; Tiger Brands Limited and Others.
Coverage: All major geographies and key segments
Segments: Product (Canned Peaches, Canned Mixed Fruit, Canned Pineapples, Canned Citrus Fruits, Canned Pears, and Other Products); and Distribution Channel (Supermarkets/Hypermarkets, Independent Retailers, and Convenience Stores)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Canned Fruits Market to Reach $12.7 Billion by 2026
Food canning is defined as a technique to store food at standard temperatures by keeping food in tightly closed vacuum-sealed containers and heat processing properly. Canning process involves washing, sorting/grading, preparation, container filling, exhausting, container sealing, heat sterilization, cooling, labeling/casing and shipment storage. The canning of fruits and vegetables has witnessed a shift in equipment usage from batch units to continuous units, where cans are passed through an air lock and are then subjected to rotation in a pressurized heat compartment, followed by cooling in a cold-water cooler compartment. Growth in the market is driven by factors such as increased shelf life of the fruits due to use of better food preservation methods, rapid urbanization rates, busy lifestyles, and rising demand for convenience foods among other factors. Increase in nuclear households and rising disposable incomes of households have led to changes in food consumption habits of consumers, with convenience foods finding favor among consumers. Increase in working women across the world, easier availability of a wider variety of fruits which can be canned are other factors promoting market growth. Canned fruits are available regardless of the seasons and also do not have the stalks, peels and pits that need to be removed, which adds on to the convenience factor.

Amid the COVID-19 crisis, the global market for Canned Fruits estimated at US$11.1 Billion in the year 2022, is projected to reach a revised size of US$12.7 Billion by 2026, growing at a CAGR of 3.4% over the analysis period. Canned Peaches, one of the segments analyzed in the report, is projected to grow at a 4.4% CAGR to reach US$3.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Canned Mixed Fruit segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 20.9% share of the global Canned Fruits market.

The U.S. Market is Estimated at $3 Billion in 2022, While China is Forecast to Reach $2.4 Billion by 2026
The Canned Fruits market in the U.S. is estimated at US$3 Billion in the year 2022. The country currently accounts for a 27.05% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.4 Billion in the year 2026 trailing a CAGR of 5.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR while Rest of European market (as defined in the study) will reach US$2.6 Billion by the end of the analysis period. North America is a significant market for canned fruits due to increased preference among customers for convenience foods and high disposable incomes. Though the US has been recording decline in consumption of canned fruits, there is potential for growth from institutional and food service sectors. Canned fruits are also a major part of Europeans' daily diet. Europe canned fruits market benefits from the presence of major market leaders in the region. In Europe, canned foods are preferred also because of the higher product safety they offer over the fresh varieties. European consumers are also exhibiting a preference for canned tropical fruits imported mainly from Asian countries. Fastest growth for canned fruits in the coming years however, is anticipated to be reported in the markets of Asia-Pacific where populations are increasing and so are the disposable incomes of people for purchasing canned food products.

Canned Pineapples Segment to Reach $2.2 Billion by 2026
Canned pineapple is packed in unique flat cans that have a capacity of 4-5 slices. A can of twenty ounces usually can hold ten cored slices, while a thirty-ounce can holds 8 slices. Canned pineapple is available as spears, cored cylinders or as a whole and also comes in chunks, big cubes, small pieces or crushed. In the global Canned Pineapples segment, USA, Canada, Japan, China and Europe will drive the 2.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 Billion will reach a projected size of US$1.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$282.6 Million by the year 2026, while Latin America will expand at a 3% CAGR through the analysis period.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.