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Pharmacy benefit management market
CANNED FOOD MARKET OVERVIEW
The canned food market size was valued at approximately USD 26.99 billion in 2024 and is expected to reach USD 36.37 billion by 2032, growing at a compound annual growth rate (CAGR) of about 3.8% from 2024 to 2032.
Canned food refers to meals that has been processed, sealed in airtight bins, and then warmness-treated to keep its shelf life. The manner entails cleaning, cutting, and cooking the meals before placing it in a can, wherein it is sealed to prevent the entry of air, micro organism, or different contaminants. This method allows hold the meals for an extended duration, often months or years, even as preserving its dietary cost, taste, and texture.
The canned food market is developing due to increasing patron demand for comfort, lengthy shelf life, and low cost meal options. Busy existence and the upward push of unmarried-person families have led to a higher choice for equipped-to-eat and smooth-to-put together foods. Canned meals provide a sensible solution for storing meals for extended periods with out the need for refrigeration, making them perfect for emergency preparedness and rural regions with limited access to sparkling produce.
COVID-19 IMPACT
"Canned Food Industry Had a Positive Effect Due to Increased Consumer Focus on long-Term Food Storage During COVID-19 Pandemic"
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higer-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
With concerns about get right of entry to to clean produce and the safety of buying in crowded shops, canned foods became a preferred preference due to their lengthy shelf life and ease of training. This conduct turned into mainly glaring in the early tiers of the pandemic, where panic buying brought about transient shortages of canned products. As a end result, producers ramped up production to satisfy the heightened call for, and the trend of stockpiling for emergencies persevered, contributing to sustained growth inside the canned grocery store at the same time as the pandemic progressed.
LATEST TREND
"Increasing Demand for Healthier and More Sustainable Options to Drive Market Growth"
Consumers are becoming extra health-aware and environmentally aware, main to a shift towards canned ingredients which might be organic, low in sodium, and unfastened from preservatives or artificial components. Manufacturers are responding with the aid of introducing merchandise including organic veggies, end result packed in herbal juices, and soups with reduced sugar and salt content.
CANNED FOOD MARKET SEGMENTATION
By Type
Based on Type, the global market can be categorized into canned cooking sauces, canned desserts, canned fish/seafood, canned fruits, canned meat, canned pasta & noodles, canned soups, & canned vegetables.
- Canned Cooking Sauces: These encompass geared up-to-use sauces such as tomato sauce, curry sauces, gravies, and pasta sauces.
- Canned Desserts: These consist of objects like puddings, fruit cocktails, and ready-made pies or cakes.
- Canned Fish/Seafood: This category consists of canned fish together with tuna, salmon, sardines, and different seafood merchandise.
- Canned Fruits: Canned fruits like peaches, pineapples, and combined fruit are often packed in syrup or natural juice.
- Canned Meat: This includes canned merchandise like red meat, chicken, and beef, which might be precooked and equipped to consume.
- Canned Pasta & Noodles: These are pre-cooked pasta dishes or noodle-based meals, frequently which includes sauces.
- Canned Soups: A staple in lots of families, canned soups offer loads of flavors, from classic bird noodle to greater complicated options like lentil or vegetable soups.
- Canned Vegetables: This includes arrots, and beans which can be preserved thru canning.
By Application
Based on application, the global market can be categorized into traditional field & craft field.
- Supermarkets/Hypermarkets: Canned ingredients are a staple in massive retail stores because of their lengthy shelf life, affordability, and convenience.
- Independent Retailers: Independent stores, including smaller grocery shops and local shops, rely on canned meals for its non-perishable nature, making it perfect for stocking in regions with restrained refrigeration or storage space.
- Convenience Stores: Convenience shops enjoy the call for for prepared-to-devour or clean-to-put together foods, and canned merchandise are a key part of their offerings.
- Online Sales: The growing trend of online shopping has boosted the income of canned food through e-trade platforms.
MARKET DYNAMICS
Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.
Driving Factors
"Convenience and Time-Saving to Boost the Market"
A factor in the Canned Food market growth is rising demand for home decor. One of the principal using factors of the canned grocery store is the growing demand for convenience and time-saving answers. In ultra-modern rapid-paced world, consumers are increasingly more searching out brief and easy meal options that require minimal training time. Canned foods suit perfectly into this call for as they're pre-cooked, pre-packaged, and frequently equipped to consume or require best a short heating time. For busy experts, single-person families, and families with irritating schedules, canned meals offer an reachable, trouble-loose solution. The convenience of canned ingredients is similarly enhanced by way of their lengthy shelf lifestyles, making them perfect for garage and smooth meal making plans. As humans preserve to prioritize velocity and simplicity in food instruction, the canned grocery store is predicted to expand similarly.
"Long Shelf Life and Storage Benefits to Expand the Market"
Another key factor driving the increase of the canned food market is the extended shelf life of canned products. Unlike sparkling ingredients that require refrigeration or have a confined shelf life, canned foods can be stored at room temperature for months or maybe years without spoiling. This makes canned goods an crucial part of families, particularly in areas with constrained access to fresh produce or in conditions in which meals garage is a concern. Additionally, the capacity to stockpile canned meals for emergencies, such as natural failures or supply chain disruptions, has made them a popular choice for customers who need to make sure they've a dependable food supply in times of uncertainty. This practical benefit, blended with their affordability, has caused sustained call for for canned ingredients, particularly at some stage in worldwide occasions like the COVID-19 pandemic.
Restraining Factor
"Environmental Impact of Packaging to Potentially Impede Market Growth"
The environmental effect of packaging, especially the use of metallic cans, has grow to be a good sized trouble. While cans are recyclable, the production of metallic cans and their transportation has a better carbon footprint compared to other packaging kinds, inclusive of glass or plastic.
Opportunity
"Increased Demand for Organic and Health-Conscious Canned Products To Create Opportunity for the Product in the Market"
As customers become extra health-conscious and are looking for smooth, natural, and minimally processed food options, there's a developing trend in the direction of canned meals that cater to those possibilities. Organic canned greens, culmination, and legumes, at the side of low-sodium and preservative-unfastened alternatives, are gaining reputation among health-centered consumers. Additionally, the rise in plant-based diets and the demand for vegan and gluten-unfastened canned options present massive growth capability. By supplying healthier and greater environmentally pleasant selections, canned food manufacturers can tap right into a rapidly expanding marketplace segment that values vitamins, sustainability, and smooth labeling.
Challenge
"Increasing Consumer Preference for Fresh and Minimally Processed Foods Could Be a Potential Challenge for Consumers"
As customers turn out to be more health-conscious and aware about the capability terrible effects of ingesting particularly processed ingredients, there is a shift in the demand in the market. As a result, canned meals manufacturers must innovate via providing healthier alternatives and focusing on easy labeling, even as also addressing issues related to the protection method and the dietary quality of canned products.
CANNED FOOD MARKET REGIONAL INSIGHTS
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North America
North America is the fastest-growing region in this market and holds the maximum Canned Food market share. North American customers have a sturdy choice for convenience, and canned meals offer a brief and clean solution for busy existence. With a quick-paced paintings tradition and increasing numbers of unmarried-man or woman households, many customers flip to canned ingredients for geared up-to-consume or clean-to-put together meal options. This high demand for comfort drives the popularity of canned items inside the region. The manufacturers in United States Canned Food market continue to innovate within the canned meals region, presenting a number of products tailor-made to converting customer choices, consisting of natural, low-sodium, and plant-based totally canned meals. This innovation, along with a growing attention on health-conscious alternatives, has helped the marketplace cater to various client needs and retain a robust presence.
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Europe
Europe is turning into a growing location for the canned grocery store due to several factors, which includes a shift closer to comfort-pushed existence and increasing consumer call for for prepared-to-eat, lengthy shelf-life merchandise. As urbanization rises, busy schedules, and smaller families create a higher demand for convenient meals alternatives, canned ingredients provide a practical solution. Additionally, there's a growing focus on more healthy and sustainable canned food options, along with organic, low-sodium, and preservative-unfastened sorts, which align with the place's health-aware and environmentally aware client base. Moreover, innovations in packaging and the developing fashion of on line grocery shopping have made canned ingredients greater handy and appealing, in addition riding their market increase in Europe.
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Asia
Asia is emerging as a developing location for the canned food market due to speedy urbanization, converting life, and an growing call for for convenience. As more humans circulate to cities and lead busy lives, there's a growing desire for easy-to-put together, shelf-strong food, with canned ingredients providing a sensible solution. Additionally, the growing middle elegance in lots of Asian nations is contributing to higher disposable incomes, permitting clients to spend greater on equipped-to-devour meals and imported meals merchandise. The increasing retail infrastructure, including supermarkets and on line buying systems, has also made canned foods more accessible across the vicinity. Furthermore, the adoption of Western ingesting behavior, along with the consumption of processed and packaged ingredients, is assisting to power the boom of canned food call for in Asia.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market Through Innovation and Market Expansion"
Leading canned meals manufacturers constantly innovate to cater to converting purchaser alternatives, along with the demand for natural, low-sodium, and health-conscious alternatives. They make bigger their product offerings through introducing new flavors, components, and packaging answers to meet the evolving tastes and nutritional needs of consumers. They promote the benefit, lengthy shelf lifestyles, and versatility of canned meals, at the same time as additionally highlighting product satisfactory, sustainability, and fitness blessings. In order to bolster their market position, key gamers often interact in mergers and acquisitions, expanding their product portfolios, getting into new markets, or having access to new technologies. This permits them to broaden their reach and higher compete with nearby and global gamers.
List Of Top Canned Food Companies
- Conagra Brands(U.S.)
- Del Monte Foods(U.S.)
- Hormel Foods(U.S.)
- Dole Food(Ireland)
- B&G Food(U.S.)x
KEY INDUSTRY DEVELOPMENT
June 2024: The Bull Brand released 3 new ready-to-devour canned mince meals: Bolognaise Mince, Chilli Mince, and Savoury Mince. These new variations offer top notch fee for money and are particularly flexible.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The worldwide canned food market is a mature and gradually developing phase in the meals industry, driven through the growing demand for convenience, long shelf lifestyles, and affordability. The market consists of a huge range of merchandise, which includes canned fruits, vegetables, meats, seafood, soups, pastas, and prepared-to-devour meals. The growth of the market is fueled by means of urbanization, converting patron life, and the increasing need for short and clean meal solutions in each developed and rising economies. Overall, the canned food market is poised for steady increase, with continued product innovation, increasing distribution channels, and a shift towards healthier and more sustainable options driving its enlargement.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 26.99 Billion in 2024 |
Market Size Value By |
US$ 36.37 Billion by 2032 |
Growth Rate |
CAGR of 3.8% from 2024 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2024 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is Canned Food Market expected to touch by 2032?
The Canned Food Market is expected to reach USD 36.37 billion by 2032.
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What CAGR is the Canned Food Market expected to exhibit by 2032?
The Canned Food Market is expected to exhibit a CAGR of 3.8% by 2032.
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What are the driving factors of the Canned Food market?
Long shelf life and storage benefits and convenience and time-saving to expand the market growth.
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What are the key Canned Food market segments?
The key market segmentation, which includes, based on type, the Canned Food market is classified as canned cooking sauces, canned desserts, canned fish/seafood, canned fruits, canned meat, canned pasta & noodles, canned soups, & canned vegetables. Based on application, the Canned Food market is classified as supermarkets/hypermarkets, independent retailers, convenience stores, online sales, & others.