CANNED FOOD MARKETGROWTH, TRENDS, COVID-19 IMPACT, AND FORECAST (20222028)
Global Canned Food Market size was valued at USD 124.2 Billion in 2021, and is projected to reach USD 172.44 Billion by 2028, growing at a CAGR of 4.8% from 2022 to 2028.
Canning is a method of preserving foods for longer period of time by packing them in different airtight containers. The canned food serves enriched nutrients to the healthconscious consumers. The market is mainly driven by the rising urban population that prefers healthy food rich in protein, fibers, vitamins, and omega-3 fatty acids. Consumers who are ready to spend a little more for the small, easy, ready-to-cook meat and seafood as well as organic canned fruits and vegetables are thus boosting the market sales. The rise in the trend of busy life and working population especially among millennials, consumer inclination toward the consumption of convenience food products has increased rapidly during the recent years. Due to retention of high amount of nutrients, color and flavor, canned foods have become one of the most preferred choices of preserved foods among consumers. The growing number of food retail outlets with increasing urbanization, R&D and marketing strategies used by the players in the canned food market is expected to have a positive effect for the Canned Food Market growth in the projected years.
Canning is a process of preserving food products, such as seafood, meats, fruits, vegetables, sweets and desserts, soups and sauces, beans, lentils, and pasta, by increasing their overall shelf life. It relies on processing food, sealing processed food into cans, and heating cans to kill harmful bacteria. It preserves nutrients of food products and prevents decomposition due to external factors like sunlight and air. At present, there is a rise in the consumption of canned food products across the globe due to the busy lifestyle of individuals.
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Key Industry Players in the Canned Food Market:
• Bolton Group Srl (Italy)
• Campbell Soup Co (US)
• ConAgra Brands Inc (US)
• Del Monte Pacific Ltd (California)
• General Mills Inc. (Minnesota, US)
• Nestle SA (Switzerland)
• Princes Ltd (UK)
• The Hain Celestial Group Inc (New York)
• The J.M. Smucker Co (Ohio, US)
• The Kraft Heinz Co (Chicago, US)
• Danish Crown (Denmark)
• CHB Group (Cheltenham, UK)
• AYAM SARL. (Singapore)
• JBS S.A (Greeley, US), and other major players.
Canned food refers to food products that utilize canning as a food preservative method to extend the shelf life of fresh food products. It is as nutritious as fresh food and enhances the
convenience of healthy food products. Moreover, canned food is cost-effective and durable, due to which it is increasingly used for food storage. Segmentation
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
The COVID-19 pandemic has caused a positive trend in the consumption of canned food as more people turn to home cooking and retail purchases. Retail is one of the main points of sale for canned food, for which the demand has increased, during the period of lockdown. The sales of canned products increased during the lockdown due to their long shelf life, which appealed to consumers who were subjected to home quarantines, regulatory measures restricting ease of movement and other impacts of government lockdowns
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This report examines the whole value chain, as well as downstream and upstream fundamentals. This Market study examines the Canned Food Industry's technical data, production plants, and raw material suppliers, as well as which product has the largest penetration, profit margins, and R&D status. The report's forecasts are based on an examination of the market's subdivisions, which include the global market size by product, end-user application, and several regions.
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