The global canned food market was valued at USD 91.90 billion in 2019 and is projected to reach USD 111.13 billion by 2032, growing at a CAGR of 1.57% during the forecast period, according to our latest report analysis. In 2019, North America dominated the market, accounting for a 39.1% share.
The primary driver behind this market expansion is the rising consumption of packaged food and beverages that offer ease and convenience. These products typically undergo processes such as peeling, chopping, and cooking before being sealed in airtight tin or aluminum cans. With the increasing pace of life and a growing workforce, consumer demand for convenient food solutions has accelerated, significantly boosting market growth.
Information Source: https://www.fortunebusinessinsights.com/canned-food-market-103258
Growing Mergers and Acquisitions to Propel Market Growth
Our report identifies key factors that have contributed to the market’s upward trajectory, notably the surge in mergers, acquisitions, and strategic partnerships among major players. Industry leaders are collaborating to maximize resources and broaden their customer reach. For example, in February 2020, B&G Foods completed the acquisition of Farmwise LLC, a well-known canned vegetable producer. This move is expected to bolster B&G Foods’ plant-based protein offerings and enhance its global footprint. The integration of Farmwise LLC is likely to positively influence the canned food market over the coming years.
CANNED FOOD MARKET SEGMENTATION ANALYSIS
By Type Analysis
Canned seafood holds the largest share within the canned food market, largely due to its numerous health advantages. Sourced from aquatic animals like fish, crabs, and clams, canned seafood provides a rich supply of protein and essential nutrients. Many food service businesses and restaurant chains are increasingly incorporating canned seafood into their menus to deliver authentic culinary experiences. Additionally, shifting taste preferences among younger consumers are driving the popularity of exotic seafood varieties. Canned seafood is widely used in dishes such as sushi, fish salads, and sandwiches, valued for its unique flavor. To keep up with growing demand, manufacturers are ramping up production.
REGIONAL INSIGHTS
North America Expected to Maintain Lead; Fast-paced Lifestyle Driving Demand
The report examines trends across five key regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these, North America is forecasted to continue leading the market. Factors such as a fast-paced lifestyle and a strong preference for canned foods—particularly in the U.S.—are major growth contributors. The widespread presence of large retailers and the increasing appetite for convenient food products are also set to fuel expansion. North America’s market was valued at USD 35.93 billion in 2019 and is expected to experience sustained growth. Meanwhile, Europe is predicted to be the second-largest market, driven by rising canned food consumption among millennials across several countries.
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)
Tariff Impact Analysis for Canned Food Market: https://www.fortunebusinessinsights.com/enquiry/request-sample-us-tariff/canned-food-market-103258
Recent Industry Developments:
- April 2020: Baxters Food Group Limited launched a new range of vegan canned soups featuring three varieties: Jackfruit, Three Bean & Chipotle; Sri Lankan Sweet Potato; and Butternut Squash & Lentil Dhansak.
