Canned Meat Market Size, Share & Industry Analysis, By Product Type (Luncheon Meat, Ham, Sausage, Bacon, Corned Beef, and Others), By Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Online Retail, and Others), and Regional Forecast, 2024-2032

The global canned meat market size was valued at USD 31.12 billion in 2023 and is projected to grow from USD 32.48 billion in 2024 to USD 46.85 billion by 2032, exhibiting a CAGR of 4.68% during the forecast period. North America dominated the canned meat market with a market share of 31.49% in 2023. Moreover, the canned meat market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 11.80 billion by 2032, driven by increasing demand for convenience food products and strong demand for animal protein.

Canned meat offers the convenience of minimum cooking time without having to cook for a long time or defrost the food. These products are easy to use and suitable for consumers with busy lifestyles. Innovation in the packaged and frozen food sector has continuously grown in the last few years. Market players expand their product lines by launching  products in international markets and providing a taste as good as fresh meat. Innovative marketing strategies are expected to expand manufacturers' global reach and offer them lucrative market opportunities during the forecast period.

The COVID-19 pandemic introduced significant challenges to cattle producers. Once they adjusted to the initial shock, the manufacturers tried finding solutions to their supply chain problems to meet the market requirements. Some cattle manufacturers directly contacted the end consumers and sold their products through online portals. This created an immense opportunity for the manufacturers to capitalize on the changing market requirements and adopt new channels to reach end consumers.

Canned Meat Market Trends

Sustainable Packaging and Food Labelling Awareness are the Trends Emerging in the Market

A key market trend has emerged in the form of sustainable packaging and food labeling products recently in the market. Transparent labeling and consumer awareness-related product labeling have become a new normal in the processed food industry as consumers become increasingly conscious about what is added to their food. The future growth trajectory for transparently labeled food products is promising. The trend of consumers choosing products with clear and transparent labels offers lucrative opportunities for meat processors to build a product line with labeled  products. This market trend can also generate beneficial monetary outcomes as consumers pay extra for such products.

Apart from transparent labeling, more consumers seek meat products with sustainability and animal welfare specifications. Over the last few years, consumers' health, sustainability, and environmental sentiments have also increased. According to a survey conducted by Ingredient Communications in September 2020, Nearly 81% of consumers feel the label "made with natural ingredients" claim is appealing, and 78% of consumers say the label "free from artificial ingredients" is more interesting. The industry is responding to these trends by manufacturing products with no nitrates or nitrites, no added hormones or steroids, and no artificial ingredients.

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Canned Meat Market Growth Factors

Rising Demand for Convenient Food Products to  Stimulate  the Market Growth

According to the USDA, the U.S. prepared food export is increasing worldwide. Canada is a primary market with the largest share in the U.S. export market. U.S. export of prepared foods to Canada increased by 6% from 2019 to 2020. The demand for prepared food in Canada is propelled by rapid urbanization and income growth, both leading to augmented consumer desire for shelf-ready packaged and convenient foods.

Many families with dual parents working tend to prefer ready-to-eat foods, such as canned meats and other foods and want to reduce food preparation and processing time. Food stabilizers significantly impact the final quality of packaged food. For example, fat-free dressings, sauces, and processed meats require different functional ingredients to optimize stability, creaminess, shelf life, viscosity, water absorption, and more. Additionally, the companies operating in the market are launching new products that offer additional functional health benefits for customers who live an active, busy lifestyle and want to make healthier choices.

For instance, in 2020, F&G Food Pte Ltd launched two new products to cater to the rising demand in the market. The company launched "canned chicken ham" and "pork ham. "With new products being launched with extended shelf life, canned meat market growth is expected to rise in upcoming times.

Rising Demand for Animal Proteins to Drive Market Growth

The steadily growing population across the globe has fueled the demand for animal protein, amplifying the amount of waste resulting from the usage of meat, poultry, fish, and pork. Manufacturers and processors actively invest in meat processing facilities to reduce losses and increase profitability. For instance, according to the World Health Organization (WHO), over the past three decades, there has been extraordinary growth in the demand and consumption of animal products, including animal protein, in countries such as China and Brazil. Moreover, the rapidly changing lifestyle and increasing urbanization are leading to a major shift in consumers' dietary patterns and choices. Consumers over the last few years have been more inclined towards healthy and nutritious food options, which is a major driving force for the market growth of the product.

RESTRAINING FACTORS

Increasing Consumer Inclination Towards Plant-Based Meat Challenging the Market Growth

In recent years, a considerable percentage of the global population has turned towards vegetarianism and veganism due to dairy allergies, environmental concerns, health concerns, and others. This factor has negatively affected the sales of the product in different regions of the globe.

According to the Federal Ministry of Food and Agriculture, the vegan population in Germany increased by 100% from 1.3 million to 2.6 million during the span of 4 years, from 2016 to 2020 respectively. The increase in the vegetarian and vegan population is attributed to the growing concerns regarding health benefits and animal welfare among consumers in developed markets.

The accelerated popularity of plant-based food among consumers has increased the number of plant-based meat producers. The market players are investing in vegetarian alternatives to traditional meat products and creating a vibrant vegan portfolio.

Canned Meat Market Segmentation Analysis

By Product Type Analysis

Bacon Segment Holds Major Market Share due to High Consumption & Easy Availability

Based on the product type, the market is segmented into bacon, luncheon meat, sausage, ham, corned beef, and others. Out of all the product types, bacon holds the largest market share. Bacon's demand is rising due to its nutritional benefits and high-quality products, such as high in protein, vitamins, and minerals. It is a source of zinc and the most easily absorbed form of dietary iron, both important in immune function. Hence the demand for canned bacon is rising in the market.

Sausage held the second-largest share in the global  market. According to Alden's Meat Master company, sausage provides high levels of Iron and Vitamin B-12, both of which are essential for healthy red blood cells and hemoglobin production. Apart from this, B-12 helps to metabolize both fats and protein. Canned ham is cured, and a preserving process is carried out before canning the ham, where ham is infused with salt, sugar, and sodium nitrate, which draws out the moisture while enhancing the meat's flavor. According to the USDA, these hams are still fully cooked and, therefore, ready to eat, but they aren't processed long enough to become shelf-stable, so they have to stay cold to avoid spoiling.

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By Distribution Channel Analysis

Supermarkets/Hypermarkets to Remain Dominant Due to Strong Sales

On the basis  of the distribution channel, the market is sub-segmented into supermarkets/hypermarkets, specialty stores, online retail, and others. The supermarket/ hypermarket has witnessed remarkable growth in 2022 and is expected to retain its dominance in the upcoming years. As evident from the figures, more than half of the sales of canned meat happened through supermarkets/hypermarkets globally for the year 2022. The popularity of supermarkets/hypermarkets is rising due to the easy availability of products with different brands available under one roof at reasonable prices.

The Specialty Stores segment held the second largest market share due to the availability of an extensive range of products in the chosen category. Therefore the consumer preferred to purchase the products from specialty stores.

REGIONAL ANALYSIS

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North America Dominates the Global Market Due to High Demand from U.S.

North America region held the largest part in the canned meat market share of the market in 2022. This is mainly due to the rising adoption rate of  products in various countries, such as the U.S., Canada, and Mexico. These countries constitute a significant share of North America's overall economic and industrial growth and are the largest retail markets  for products which has elevated its global demand over the past few years. In addition, the growing demand for canned meat from the retail sector propels the market growth in the region. Canada is a major consumer country for meat and meat products. In the year 2021, the per capita meat expenditure in Canada was nearly USD 450 in 2021, up from 2017 levels of per capita expenditure of USD 386. Poultry meat is the popular meat category in Canada, closely followed by beef and veal. Over the next few years, the sales of mutton, lamb, and goat are expected to grow at a significant rate. In terms of processed meat sales in Canada, chilled red meat is the leading meat category, followed by frozen meat and shelf-stable meat. Sales of frozen processed meat in Canadian market are growing rapidly, followed by chilled and shelf-stable meat. Chilled processed meat and frozen meat are expected to grow at a significant rate over the forecast period.

In terms of volume, the quantity sold decreased across all categories. Between 2017 and 2021, the quantity of processed red meat declined by 1.5%. During this period, the quantity of frozen processed red meat recorded the largest decline at 3.3%, while the quantity of chilled processed red meat and shelf stable processed red meat declined by 1.0% and 1.4% respectively. The quantity of processed red meat sold is forecast to grow by 1.0% between 2022 and 2026.

Pork meat was the third largest fresh meat category in terms of sales in 2021. Sales of pork meat were valued at Can$4.7 million (706.6 thousand tonnes), representing a 0.2% increase in the CAGR from 2017 to 2021. Between 2017 and 2021, the volume of pork meat sold increased from 637.0 thousand tonnes to 706.6 thousand tonnes, representing an increase of 2.6%. Sales of pork meat are forecast to grow by 1.6% between 2022 and 2026, and reach Can$5.1 billion (752.9 thousand tonnes). Pork meat sales are forecast to grow by a CAGR of 1.3% during this period.

The meat market for Asia Pacific is the fastest growing market analyzed mainly for China, India, Australia, South Korea, the Philippines, and others (New Zealand, Malaysia, Japan, Thailand, Indonesia, and Vietnam). Meat consumption in these countries is very high in the Asia Pacific region; hence, these countries contribute a substantial share of the market in Asia Pacific.

The increasing population in the region and resultantly increasing food demand is the major factor driving the growth of the market in the Asia Pacific. China is the region's largest market due to the conventional dietary habits of consuming meat and meat-based products daily. In terms of per capita annual meat consumption, Australia is the leading country in the Asia Pacific region, followed by New Zealand. With the highest per capita meat consumption in the countries, Australia and New Zealand offer lucrative opportunities for the market players to expand in these Countries and strengthen their market position.

Canned meat consumption in Europe heavily depends on domestic meat production and intra-EU trade. Austria, Denmark, France, Germany, Italy, Netherlands, Norway, Russia, Spain, Switzerland, and the U.K. are Europe's largest meat-consuming countries. Per capita annual meat consumption is the largest in Spain, with nearly 110 KG/capita/annum, followed by Austria and Germany. In Europe, meat consumption patterns greatly vary from Country to Country, depending on consumption habits and demographics. For instance, where global patterns show a strong correlation between increased meat consumption and rising incomes, in high-income countries of Europe, meat consumption patterns are complex, where low-income group people sometimes have meat-heavier diets. In France, higher-income groups consume less canned meat than the rest of the population, while low-income groups consume the most.

The South American market development in the modern food retail industry has increased the availability of processed meat products in the region. Further, the rising trend of a high-protein diet has significantly influenced the meat industry, including canned meat products in the region. Manufacturers and processors are focused on introducing various processed meat products, such as canned meat, to fulfill the modern consumer demand for healthy, protein-rich options. Therefore, South American market is expected to grow in upcoming times.

The rising popularity of meat mainly drives the market in the Middle East and Africa due to its taste profile and long shelf life among consumers. According to the International Livestock Research Institute, sheep and poultry are the most consumed in Middle Eastern countries. The growing animal meat production in developing economies such as the UAE and Saudi Arabia has ultimately increased the demand for canned meat.

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List of Key Companies in Canned Meat Market

Key Players Focus on Expansion Of Businesses In New Geographies to Stay Competitive

The global market comprises of local players, and the number of local players exceeds the number of international players. Considering the increasing demand for canned meat, market players are making their products available in international markets by expanding in the market by themselves or entering into partnerships with other local players in the respective markets. In May 2022, JBS S.A. acquired two manufacturing facilities in the Middle East, expanding its presence in the region's production and distribution of prepared foods. It has two factories in Saudi Arabia and the UAE and has a distribution network in the Middle East.

List of Key Companies Profiled:

• Hormel Foods Corporation ( U.S.)


• Tyson Foods, Inc. ( U.S.)


• Bolton Group   ( Italy)


• Smithfield Foods, Inc.  ( U.S.)


• Vion Group  ( Netherlands)


• Conagra Brands Inc. (U.S.)


• McCallum Industries (New Zealand)


• Keystone Meats  ( U.S.)


• Werling & Sons, Inc. (U.S.)


• JBS SA  ( Brazil)

KEY INDUSTRY DEVELOPMENTS:

• November 2022: Smithfield Europe agreed to acquire Goodies Meat Production SRL, a manufacturer of private-label packaged meat products, for the retail channel. The company operated the production facility in Ceptura de Jos, Prahova. Its product portfolio includes salami, ham, bacon, and others. This acquisition is expected to help Smithfield Europe strengthen its existing market business.


• October 2021: Hormel Foods Corporation partnered with U.S.-based food processing company 'The Better Meat Company.' Through this partnership, the companies will work together to develop next-generation protein alternatives that are delicious, healthy, and sustainable, featuring Better Meat's revolutionary Ryza mycoprotein ingredients


• August 2021: Italian consumer goods Bolton Group acquired Wild Planet Foods for an undisclosed amount. The acquisition will strengthen the Bolton Group by increasing its presence in the U.S. market, and the two companies will work together to build a superior and responsible supply chain.


• January 2021: Minerva SA launched the B2B online sales platform "Miu Minerva," which provides various processed meats, mainly processed beef products. This move will likely expand the company's customer base and extend its reach in the processed meat market. With the growing demand for online platforms in the food industry, Minerva SA's new sales platform is expected to bring convenience to its customers by providing an easy-to-use online ordering system.


• November 2020: F&G Food Pte Ltd launched new products to cater to the increasing demand in the market. The company launched two new products: canned chicken ham and pork ham.

An Infographic Representation of Canned Meat Market

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REPORT COVERAGE

The market research report provides a detailed market analysis and focuses on key aspects such as key players in the market, competitive landscape, product types, and distribution channel. Besides this, the report offers key insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market's growth over recent years.

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Report Scope and Segmentation