Canned Food Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
Canned Food Market size is projected to
reach USD 100.92 billion by the end of 2027. Increasing product demand
availability at low costs will emerge in favor of market growth.
Fortune Business Insights, titled “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 – 2027,” the market was
worth USD 91.90 in 2019 and will exhibit a CAGR of 1.30% during the forecast
period, 2020-2027.
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Canned foods are widely consumed across the world, accounting to the adoption
of fast paced lifestyles. These foods have gained massive popularity in the
past few decades. The increasing demand for clean-labelled products has led to
an increase in the demand across the world. The use of environment-friendly
material for manufacturing of cans and can materials will aid the growth of the
overall market in the coming years. The availability of canned foods at retail
chains, stores, grocery shops, and other chains will lead to a wider
consumption across the world. The availability of preserved foods and
variations in these foods will emerge in favor of the companies operating in
the market. The high investment in development of long-lasting canned foods
will aid the growth of the overall market in the forthcoming years.
Increasing Number of Company Mergers
will Have a Direct Impact on Market Growth
The report encompasses several factors
that have contributed to the growth of the overall market in recent years.
Among all factors, the increasing number of number of company mergers and
acquisitions as well as collaborations has made the highest impact on market
growth. Major companies are looking to collaborate with each other with a view
to maximizing the use of resources and subsequently acquire a wider consumer
base. In February 2020, B&G Foods announced that it has completed the
acquisition of a renowned canned food manufacturer. The company acquired
Farmwise LLC., a global manufacturer of canned vegetables. Through the
acquisition of US-based Farmwise, B&G Foods will look to improve its range of
plant-based protein foods. This acquisition will help the company improve its
global business in the coming years. B&G’s acquisition of Farmwise LLC will
also influence the growth of the overall canned food market in the coming
years.
North America to Exhibit the Highest
CAGR; Adoption of Fast-paced Lifestyle to Aid Growth
The report analyses the ongoing market
trends across five major regions, including North America, Latin America,
Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the
market in North America is expected to emerge dominant in the coming years. The
adoption of a fast-paced lifestyle and increasing trends of canned food
consumption, especially in the United States will contribute to market growth.
The presence of several large scale retailers, coupled with the growing
popularity of convenience foods will emerge in favor of market growth. As of
2019, the market in North America was worth USD 35.93 billion and this value is
projected to increase further in the coming years. The market in Europe is
projected to emerge as the second largest market, owing to the increasing
consumption of canned foods especially by the millennial population in several
countries 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 of
a new range of vegan tin-canned soups in three flavours-Jackfruit, Three Bean
& Chipotle; Sri Lankan Sweet Potato; and Butternut Squash & Lentil
Dhansak.
Browse Summary of this Research Report
with 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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