In 2023, the canned meat market is anticipated to reach a market value of US$ 13,644.8 million. The market is projected to surpass US$ 25,405.5 million in 2033, expanding at a CAGR of 6.8% during the forecast period.
In a culinary landscape marked by the pursuit of protein-rich and convenient foods, the canned meat market takes center stage. Beyond protein, canned meat packs a nutritional punch with omega-3, fibers, and essential micronutrients, making it an ideal choice for consumers leading busy lifestyles.
Key Takeaways from the Canned Meat Market:
- Protein Surge in the United States: The United States market experiences a protein surge, expanding at an impressive CAGR of 24.6% in 2022. The growing demand for protein fuels this remarkable growth.
- German Market Dynamics: The German market anticipates steady growth with a CAGR of 8.9% in 2022, reflecting the increasing preference for canned meat among consumers.
- Japanese Market Promise: Japan shows promise with a projected CAGR of 3.5% in 2022, indicating a rising inclination towards canned meat products.
- Steady Growth in Australia: The Australian market registers steady growth, achieving a CAGR of 2.0% in 2022, driven by factors contributing to sustained market expansion.
- Chinese Market’s Sustainable Soar: China witnesses a soaring market with a CAGR of 12.9% in 2022, fueled by heightened consumer awareness and demand for sustainable canned meat products.
- Indian Market Dynamics: India demonstrates market dynamics with a CAGR of 3.2% in 2022, driven by a confluence of sustainability concerns and an increasing consumer preference for protein-rich offerings.
- United Kingdom’s Inflation at 6.6%: The United Kingdom’s market experiences inflation at a CAGR of 6.6% in 2022, according to FMI research. Factors such as price fluctuations and availability contribute to this growth trajectory.
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How is the Competition in the Canned Meat Market?
Some established players in the market, along with a few start-ups. The leading players are in a fiercely competitive market with one another. The industry is expanding and moving towards sustainability, which presents an opportunity for them to gain sales and follow the shifting trends in the market.
How are the Key Players from the Market Performing?
- Hormel Foods Corp.
Hormel chunk meats are completely cooked and use completely real meat. It can be used in almost all food products, such as soups, nachos, and tacos. Their goal is to make meats that fit the busy lifestyles the consumers of today follow. These meats are perfect for quick and tasty meals that can be enjoyed by everyone. They offer salmon, chicken, bacon, breakfast sausage, and beef. They also produce the popular canned meat called SPAM, which has fed families for over 80 years. It can be used in almost all food products such as soups, nachos, and tacos. Their goal is to make meats that fit the busy lifestyles the consumers of today follow. These meats are perfect for quick and tasty meals that can be enjoyed by everyone. They offer salmon, chicken, bacon, breakfast sausage, beef and many more. They also produce the popular canned meat called SPAM, which has been feeding families for more than 80 years.
- Tyson Foods Inc.
Tyson Foods Inc. goes beyond offering only canned meat in one variety. They provide consumers with a wide selection of products such as Premium chunk white meat canned chicken, chunk white chicken pouch, hickory smoked bacon, applewood smoked bacon, along with frozen steak fingers, cook-in-bag meats, and grilled and ready chicken, along with many other products. Their attempts to put the safety of their consumers first. They emphasize safety not only for consumers but also for their staff. They also own Hillshire Farms, BallPark, State Fair, and many more brands.
- Wild Planet Foods
Wild Planet Foods sources its meat from sustainable sources and offers healthy food. It is rich in protein and without filer, and their canned seafood is pole and line, troll, or handline caught. It is also hand cut, packed, and cooked directly in the can. The meat retains its nutritional benefits nonetheless. They provide a range of canned seafood meats such as canned tuna, yellowtail, sardines, anchovies, and salmon. They also present a range of other meats such as bacon, chicken, beef, and many others.
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Segmentation of the Market
By Meat Type:
- Beef
- Seafood
- Poultry
- Pork
- Others
By Distribution Channel:
- Supermarket & Hypermarket
- Specialty Store
- Online
- Others
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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