Increasing Preference for Canned Goods Market to Drive Market Growth
The global canned goods market was valued USD 20,820.5 million in 2021 and is expected to exhibit a CAGR of 3.8% over the forecast period from 2021 to 2030, as per a market study by Quince Market Insights.
Food canning is a food preservation technique that entails sealing and sterilizing food in airtight containers. Among the different canned food goods available on the market are seafood, meat, fruits, vegetables, meals, sweets & desserts, soups & sauces, beans, lentils, and pastas. Canned foods have become one of the most popular preserved food products on the market because the canning procedure maintains several vital ingredients.
Consumer preference for convenience food products has risen in recent years as a result of their hectic lifestyles. Canned foods have become one of the most popular preserved food options among customers due to its great nutrient, color, and flavor retention.
The need for healthy food high in protein, functional fibers, vitamins, and omega-3 fatty acids is mostly driven by the growing urban population, which seeks easy and convenient eating. Consumers willing to pay a little more for products with such features, together with the desire for tiny, easy-to-cook meat and seafood, as well as organic canned fruits and vegetables, are driving market sales. Furthermore, rising awareness of the negative effects of plastic packaging, as well as need for a sustainable alternative and rising recycling rates around the world, have fueled the industry.
Consumers' reliance on ready-to-eat meals and convenience foods has grown as the number of working women has increased. As a result, there has been an increase in demand for shelf-stable and nutritious food, which has fueled the rise of the canned food business. Furthermore, the fast expansion of major retail formats, such as hypermarkets/supermarkets and e-commerce platforms, increases demand for canned food goods around the world. Consumers are gradually spending more on organic food goods as health concerns rise, providing chances for businesses to focus on organic canned food products. To maintain their competitive position in the market, manufacturers focus on supplying canned food products in a variety of options, as well as good quality, flavor, and nutritional content.
The canned food market is categorized by product type, distribution channel, type, and region, according to the market analysis. Canned meat and fish, tinned fruit and vegetables, canned ready meals, and others are the different product types.
Global Canned Goods Market Trends
Because of the health benefits of organic products, the use of organic and clean-label products has increased in developed nations. Consumption of organic and clean-label products has surged rapidly in a number of emerging countries, assisting the market's expansion. Consumers are more likely to consume chemical-free natural food products, and their rising product label awareness has a favorable impact on the industry. Organically cultivated veggies, fruits, and even meat products are preferred by consumers since they are healthier than conventionally grown ones. Canned food has a long shelf life because the sterilized food is safe from the outside environment by the sealed containers. The wide availability of these organic canned items, as well as their rising consumption, is a critical factor in the tinned food market's rise.
Recent Developments in the Canned Goods Market
· In May 2020, Ye Olde Oak Foods Ltd., (U.K.) a canned hot dog and meat business, established a new online website with the support of digital marketing agency Fablr Ltd. in order to have a more vivid web presence and to showcase their products on an online platform.
· In April 2020, Napolina (Italy), a cookery brand, introduced drained canned quinoa as part of a new convenience food line. Chickpeas, red kidney beans, and cannellini beans are among the other goods in the line.
Grupo Calvo (Luis Calvo Sanz, S.A), Kraft Heinz (Pittsburgh), Danish Crown (Randers), JBS(Greeley, Colorado), Dongwon Industries (South Korea), Rhodes Food Group (Pniel Rd Groot Drakenstein, Paarl), Bolton Group (Itay), Zi Shan (Pakistan)