Canned Food Market Share, Industry Growth, Trends, Business Opportunities, Challenges, Growth Insights to 2027
Canned Food Market size is projected toreach USD 100.92 billion by the end of 2027. Increasing product demandavailability at low costs will emerge in favor of market growth.
Fortune Business Insights, titled “Canned Food Market Size, Share & COVID-19Impact Analysis, By Type (Canned Seafood, Canned Fruits and Vegetables, CannedMeat, and Others), Distribution Channel (Supermarkets/ Hypermarkets, SpecialtyStores, and Online Retail), and Regional Forecast, 2020 – 2027,” the market wasworth USD 91.90 in 2019 and will exhibit a CAGR of 1.30% during the forecastperiod, 2020-2027.
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Canned foods are widely consumed across the world, accounting to the adoptionof fast paced lifestyles. These foods have gained massive popularity in thepast few decades. The increasing demand for clean-labelled products has led toan increase in the demand across the world. The use of environment-friendlymaterial for manufacturing of cans and can materials will aid the growth of theoverall market in the coming years. The availability of canned foods at retailchains, stores, grocery shops, and other chains will lead to a widerconsumption across the world. The availability of preserved foods andvariations in these foods will emerge in favor of the companies operating inthe market. The high investment in development of long-lasting canned foodswill aid the growth of the overall market in the forthcoming years.
Increasing Number of Company Mergerswill Have a Direct Impact on Market Growth
The report encompasses several factorsthat have contributed to the growth of the overall market in recent years.Among all factors, the increasing number of number of company mergers andacquisitions as well as collaborations has made the highest impact on marketgrowth. Major companies are looking to collaborate with each other with a viewto maximizing the use of resources and subsequently acquire a wider consumerbase. In February 2020, B&G Foods announced that it has completed theacquisition of a renowned canned food manufacturer. The company acquiredFarmwise LLC., a global manufacturer of canned vegetables. Through theacquisition of US-based Farmwise, B&G Foods will look to improve its range ofplant-based protein foods. This acquisition will help the company improve itsglobal business in the coming years. B&G’s acquisition of Farmwise LLC willalso influence the growth of the overall canned food market in the comingyears.
North America to Exhibit the HighestCAGR; Adoption of Fast-paced Lifestyle to Aid Growth
The report analyses the ongoing markettrends across five major regions, including North America, Latin America,Europe, Asia Pacific, and the Middle East and Africa. Among all regions, themarket in North America is expected to emerge dominant in the coming years. Theadoption of a fast-paced lifestyle and increasing trends of canned foodconsumption, especially in the United States will contribute to market growth.The presence of several large scale retailers, coupled with the growingpopularity of convenience foods will emerge in favor of market growth. As of2019, the market in North America was worth USD 35.93 billion and this value isprojected to increase further in the coming years. The market in Europe isprojected to emerge as the second largest market, owing to the increasingconsumption of canned foods especially by the millennial population in severalcountries across this region.
List of the Leading Companies Operating in the Canned Food Market are:
- The Kraft Heinz Company (United States)
- Bolton Group S.r.l. (Italy)
- Campbell Soup Company (United States)
- Conagra Brands, Inc (United States)
- Nestlé (Switzerland)
- Danish Crown AmbA (Denmark)
- Del Monte Foods, Inc (United States)
- JBS USA Holdings, Inc. (United States)
- Ayam Brand (Singapore)
- Holyland Marketing Private Limited (India)
Industry Developments:
April 2020: Baxters Food Group Limited announced the launch ofa new range of vegan tin-canned soups in three flavours-Jackfruit, Three Bean& Chipotle; Sri Lankan Sweet Potato; and Butternut Squash & LentilDhansak.
Browse Summary of this Research Reportwith Detailed Table of Content: https://www.fortunebusinessinsights.com/canned-food-market-103258
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Supply Chain & Regulatory Analysis
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Partnerships, New Type Launches, and Mergers & Acquisitions
- Global Canned Food Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Canned Seafood
- Canned Vegetables and Fruits
- Canned Meat
- Others
- By Distribution Channel
- Hypermarket/Supermarkets
- Specialty Stores
- Online Retail
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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