The canned foods market is expected to grow at a moderate CAGR of 4.2% over the forecast period. The market value is projected to increase from USD 17 billion in 2023 to approximately USD 25.6 billion by 2033.
Throughout the forecast period, growth in the canned foods industry is expected to be driven by lifestyle changes, enhanced distribution networks, and increased demand for ready-to-eat meals. The global trend toward cross-cultural cuisine has positively impacted market expansion, with the rising popularity of exotic dishes like sushi and seafood from local retailers and restaurants boosting canned food demand in recent years.
Many restaurants and hotels extensively use canned foods due to their convenience and long shelf life, which prevents contamination and spoilage. Additionally, since canned fruits retain their nutritional value while being clean, the demand for canned foods is expected to increase in line with the growth of the hotel and hospitality industry.
Key Takeaways from the Canned Foods Market Study
- Supermarkets or hypermarkets are the major distribution channels for all types of canned food items and contribute more than 40% of the revenue generated globally.
- In contrast, canned foods available over online retail channels are getting popular more rapidly and are penetrating new markets at a faster rate.
- Only in the United States, the market for canned foods is anticipated to reach US$ 16 Bn by 2025 while growing at a rate of 3.8% during the forecast years.
- China is predicted to be the fastest-growing nation in terms of production and consumption of canned food items and would register an impressive CAGR of 6% through 2033.
Competitive Landscape for the Canned Foods Market
Some of the major canned food market participants are Campbell Soup Company, Danish Crown AmbA, Del Monte Foods, Inc., JBS USA Holdings, Inc., Ayam Brand, Holyland Marketing Private Limited, The Kraft Heinz Company, Bolton Group S.r.l., Inc., Nestlé, Danish Crown Amba., Conagra Brands, Inc., Universal Canning Inc., StarKist Co., Bumble Bee Seafoods, Wild Planet Foods, Inc., Connors Bros Ltd., and LDH (La Doria) Ltd. Among others.
Renowned canned foods market key players are constantly implementing innovative tactics like launching new products and increasing their production capacity in order to better serve the market and retain their growing consumer base. In this way, it aids in boosting their market position and increasing their manufacturing capacity to penetrate new markets. Providing consumers with high-quality goods is another benefit.
Recent Developments in the Canned Foods Industry
- The Campbell Soup Company introduced a new tinned container for its spicy chicken noodle soup with a new flavor in July 2021.
- A minimal supply version of popular canned tuna with wrapping inspired by the popular Japanese manga series Doraemon was introduced by Thai Union’s canned tuna-related brand SEALECT in March 2021.
- To diversify its business into canned snacks, the possession of the Del Monte processed fruit and vegetable packaging business in Canada of Conagra Brands was finalized in July 2018 by Bonduelle SA, which is a French company that offers different types of frozen, and fresh vegetables in cans.
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Market Segments Covered in Canned Foods Market Analysis
Key Segments
By Product:
- Canned fruits and Vegetables
- Canned Meat and Seafood
- Canned Ready Meals
- Others
By Type:
- Organic
- Conventional
By Distribution Channels:
- Supermarket or Hypermarket
- Convenience Stores
- E-commerce or Online Retail Channels
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
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