Canned Food Market Size, Share & COVID-19 Impact Analysis, By Type (Canned Seafood, Canned Fruits and Vegetables, Canned Meat, and Others), Distribution Channel (Supermarkets/ Hypermarkets, Specialty Stores, and Online Retail), and Regional Forecast, 2020-2032

The global canned food market size was USD 91.90 billion in 2019 and is projected to reach USD 111.13 billion by 2032, exhibiting a CAGR of 1.57% during the forecast period based on our analysis in the existing report. North America dominated the canned food market with a market share of 39.1% in 2019.

The global market is majorly driven by the rise in the consumption of various packaged food products and beverages that are convenient to use or consume. These product types are processed by various techniques such as peeling, chopping, or cooking, and then sealed in an air-tight tin or aluminium can. Owing to the fast-paced lifestyle and rise in the working population, the consumption of convenience food products has increased. This directly propels the market growth.

However, the current market for canned food will be affected due to the global pandemic outbreak of Covid-19. Most of the countries in the world are experiencing a total lockdown, amidst which the food product availability has lessened. This has led to a rise in product prices and has negatively affected the consumer's purchasing power. Rules and regulations imposed by the governments across the regions for purchasing essential items have led to a slight decline in the sales of various food and beverages. The production facilities being shut down and less manpower available in the few functioning production houses have led to a decline in production. However, the market finds its pace as consumers are relying on these products due to their convenience and hygiene. The wide availability of canned food also plays a crucial role in further boosting its market growth.

LATEST TRENDS

Growing Consumer Inclination towards Organic and Clean-label Foods to Drive the Market Growth

The utilization of organic and clean-label products has risen in the developed economies due to the perceived health benefits associated with organic products. The organic and clean-label products consumption has risen dramatically in various developing countries as well which aids the growth of the market. Consumers are inclined towards consuming chemical-free natural food products and their growing label-knowledge about the products has positively impacted the market. Consumers prefer organically grown products such as vegetables, fruits, and even meat products as they are healthier than the conventionally grown items. The wide availability of these organic canned products and its increased consumption is a crucial factor that helps in the market growth of the tinned foods.

DRIVING FACTORS

Rising Consumer Awareness towards Hygienic Food Products

Canning is a method for preserving the food products and provides an extended shelf life to it. Canning preserves the nutrients of the food products and avoids spoilage due to external factors such as sunlight and air. Canned food products are widely utilized by many fast-food chains and restaurants due to its convenience of cooking and it remains free from any contamination and spoilage for a longer period of time. Since the canned fruits are free from any contaminants and at the same time it retains all the nutritional qualities its usually used in salads, smoothies, drinks or are directly consumed. The consumption of these foods as a trend is majorly attributed to the consumers wanting to spend on hygienic and convenient food products.

Increasing Demand from Consumers for Ready-to-Cook and Ready-to-Eat Products

The rise in consumer demand for ready-to-cook and ready-to-eat food products from both, developed and emerging economies, has aided the canned food market growth. The rise in the working population and the less time spent on cooking has positively impacted the market growth. The rise in the millennial population and their wide acceptance of ready meals/eat food has led them to opt for canned products as they are easier to cook and saves the preparation time as well. Major manufacturers are adopting new strategies such as new product launches and expanding their production capacity to serve the consumers better and also sufficing their growing demands. For instance, In May 2018, Del Monte Foods, Inc. a leading processed food manufacturing company launched a ‘premium and stylish’ tinned Gold pineapple fruit range targeting the young population.

RESTRAINING FACTORS

Rising Concerns About Environmental Pollution to Restrain the Market Growth

The canned food products are manufactured from tin and aluminium cans which are non-biodegradable in nature. The cans after being utilized are dumped in the trash and it remains in the biosphere for more than a decade which has led to serious environmental hazards. The cans when exposed to any abiotic or biotic factors release harmful gases and toxic materials. Further, governments across several countries are advising to refrain from using tin and aluminium cans have also negatively impacted the market growth. However, many manufacturers are nowadays are manufacturing the food in recyclable tin and aluminium cans to reduce environmental pollution.

SEGMENTATION

By Type Analysis

Canned Seafood Holds the Largest Market Share Owing to Numerous Health Benefits

The canned seafood segment holds the largest market share in the canned food sector owing to various heath benefits associated with it. Seafood is obtained from various water inhabitants such as fishe and sea foods, crabs, clams, and others which are highly nutritious and an abundant source of protein. Various food chains and restaurants are utilizing the canned seafood to introduce an authentic taste. Along with this factor, the younger cohort prefer the usage of various exotic fishes in their food owing to their evolving taste preferences. The wide utilization of canned seafood in many culinary preparations such as sushi, fish salads and sandwiches due to its unique and flavourful taste. Various manufacturers are expanding their production capabilities for manufacturing canned seafood due to suffice the rising demand.

On the other hand, the consumption of canned foods such as vegetables, fruits, and meat are also witnessing significant growth in the market. The availability and procurement of fruits and vegetables is comparatively easy and affordable. The canned fruits and vegetables helps in fulfilling the nutritional requirements in the body as they are a rich source of vitamins, minerals, and essential amino acids.

By Distribution Channel Analysis

Rapid Growth of Distribution Channels have Resulted in Higher Revenue Generation

The supermarkets and hypermarkets are the most preferred distribution channel by the consumers as they offer a wide range of essential and non-essential products other than just household products. The supermarkets/hypermarkets enhance the consumers purchasing experience due to the broad availability of canned food in different brands and price range. The presence of product distinct aisles, numerous bundling schemes, and convenience offered by the mass merchandisers have drawn consumers attention. The marketers are intensively focussing on the development of modern trades and convenient retail points to offer ease of shopping at affordable prices to the consumers. The online retail sector is also gaining popularity among the consumers as they nowadays prefer the products being delivered to them at their doorstep. Online retail offers a digitalized purchasing platform along with availability of numerous products at a discounted price.

REGIONAL INSIGHTS

North America to Exhibit Highest Growth due to the Rise in Consumption of Canned Food

The global market will derive growth from the rise in consumption of processed food products and beverages. North America is a developed economy which consists of a large consumer base and equally high population of working professionals. The improvement in the supply chain infrastructure and increasing popularity of convenience foods have driven the regional market. Investments from various multinationals, especially from major markets in the region such as the U.S, Canada, and Mexico will create opportunities to various local players. The rise in the number of working population and a busy lifestyle has led to the rise in consumption of various ready to eat/drink products. A steep downfall in the market is witnessed due to the global pandemic outbreak of Covid-19 as the canned food manufacturing factories have been closed down in the region. The Covid-19 affected and deceased patients are majorly from the U.S. This is hampering market growth.

Followed by North America, Europe is expected to hold the second-largest canned food market share in the market, owing to the growing demand from the millennial population. Europe canned fruits and vegetable imports account for around 42% of the total global imports. The largest importing and consuming countries in the region includes Germany, France, the U.K, and the Netherlands, which creates an opportunity for the exporters from the developing economies. The growing cross-culture food trend in the region has positively impacted the market growth. The retailers and restaurants in this region serve many Indian, Chinese, and Japanese foods. Japanese food products utilize various seafood such as sushi. The usage of canned fishes such as tuna and salmon in Japanese cuisine as it enhances the taste and texture of the whole product. This positively helps in the growth of this market in the region.

However, a major dip in the market is being observed due to the COVID-19 pandemic and the rising number of affected patients in the region. Countries that are most affected include Spain, Italy, and the U.K. which has severely affected the production of these foods due to manufacturing plants being shut down. This has restrained its market growth.

Asia Pacific holds a significant share in the market owing to the large population base in the country. The rapid urbanization and the wide acceptance of westernized culture has increased the consumption rate. The increase in the millennial population and their growing exposure to the internet has contributed in increased demand for these products. The presence of major potential markets in the region such as India, China and Japan have further fuelled the growth.

South America and the Middle East and Africa hold the least market share, however, the evolving dietary patterns and increase in meat consumption has a positive impact on this market growth. The wide utilization of meat and vegetables in various Middle Eastern cuisines such as shawarma and falafel have further contributed in regional market growth.

KEY INDUSTRY PLAYERS

Major companies are Focused on Product Innovations

The global market structure is highly organized owing to the presence of various dominant players in the market. These manufacturers are focusing on new product launches to fulfill the increasing demands and evolving taste preferences. This way it helps in expanding their production capacity and strengthening the market presence. It also helps to provide quality products to consumers. The Kraft Heinz Company, Bolton Group S.r.l., Campbell Soup Company, Conagra Brands, Inc., Nestlé, and Danish Crown Amba are the prominent market players among the others.

LIST OF KEY COMPANIES PROFILED:

• 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)

KEY INDUSTRY DEVELOPMENTS:

• In May 2020, Ye Olde Oak Foods Ltd., the canned hot dog and meat brand has launched its new online website with the help of digital marketing agency Fablr Ltd. to have a new vibrant web presence and showcasing their products on online platform.


• In April 2020, Napolina, an Italian cooking brand launched drained canned quinoa as a part of new convenience food range. The other products in the range include chickpeas, red kidney beans and cannellini beans.

REPORT COVERAGE

The canned seafood segment has witnessed significant growth in the overall canned foods market globally. The growing world population coupled with the increase in demand for nutritious convenience food, is anticipated to fuel the global market growth in the upcoming years.

The report provides qualitative and quantitative insights into the market. It also offers a detailed analysis of its utility, types, distribution channel, market size and growth rate for all possible segments in the market.

Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are an overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in critical countries, and key canned food Industry trends.

Report Scope & Segmentation