Canned Food Market Research Report Forecast by 2027, Fortune Business Insights™
The
global canned
foods market size is projected to reach USD 100.92 billion by
the end of 2027. Increasing product demand availability at low costs will
emerge in favor of market growth. According to a report published by Fortune
Business Insights, titled “Canned Food Market Size, Share & Industry
Analysis, By Type (Canned Seafood, Canned Fruits and Vegetables, Canned Meat,
and Others), Distribution Channel (Supermarkets/ Hypermarkets, Specialty
Stores, and Online Retail), and Regional Forecast, 2020 – 2027,” the market was
worth USD 91.90 in 2019 and will exhibit a CAGR of 1.30% during
the forecast period, 2020-2027.
The global canned
foods market list of prominent manufacturers operating
in are The Kraft Heinz Company , Bolton Group S.r.l, Campbell
Soup Company, Conagra Brands, Inc, Nestlé , Danish Crown AmbA Del Monte Foods,
Inc, JBS USA
Holdings, Inc, Ayam Brand , Holyland Marketing Private Limited and more players profiled in canned foods market research report
List of companies profiled in the report:
•
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)
Information Source:
https://www.fortunebusinessinsights.com/canned-food-market-103258
Canned
foods are widely consumed across the world, accounting to the adoption of fast paced
lifestyles. These foods have gained massive popularity in the past few decades.
The increasing demand for clean-labelled products has led to an increase in the
demand for canned foods across the world. The use of environment-friendly
material for manufacturing of cans and can materials will aid the growth of the
overall market in the coming years. The availability of canned foods at retail
chains, stores, grocery shops, and other chains will lead to a wider
consumption across the world. The availability of preserved foods and
variations in these foods will emerge in favor of the companies operating in
the market. The high investment in development of long-lasting canned foods
will aid the growth of the overall market in the forthcoming years.
Increasing Number of Company Mergers
will Have a Direct Impact on Market Growth
The report encompasses
several factors that have contributed to the growth of the overall market in
recent years. Among all factors, the increasing number of number of company
mergers and acquisitions as well as collaborations has made the highest impact
on market growth. Major companies are looking to collaborate with each other
with a view to maximizing the use of resources and subsequently acquire a wider
consumer base. In February 2020, B&G Foods announced that it has completed
the acquisition of a renowned canned food manufacturer. The company acquired
Farmwise LLC., a global manufacturer of canned vegetables. Through the
acquisition of US-based Farmwise, B&G Foods will look to improve its range
of plant-based protein foods. This acquisition will help the company improve
its global business in the coming years. B&G’s acquisition of Farmwise LLC
will also influence the growth of the overall canned foods market in the coming
years.
North
America to Exhibit the Highest CAGR; Adoption of Fast-paced Lifestyle to Aid
Growth
The report analyses
the ongoing market trends across five major regions, including North America,
Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all
regions, the market in North America is expected to emerge dominant in the coming
years. The adoption of a fast-paced lifestyle and increasing trends of canned
food consumption, especially in the United States will contribute to market
growth. The presence of several large scale retailers, coupled with the growing
popularity of convenience foods will emerge in favor of market growth. As of
2019, the market in North America was worth USD 35.93 billion and this value is
projected to increase further in the coming years. The market in Europe is projected to emerge as
the second largest market, owing to the increasing consumption of canned foods
especially by the millennial population in several countries across this
region.
Industry
Developments:
April 2020: Baxters Food Group Limited announced the
launch of a new range of vegan tin-canned soups in three flavours-Jackfruit,
Three Bean & Chipotle; Sri Lankan Sweet Potato; and Butternut Squash &
Lentil Dhansak.
Information Source:
https://www.fortunebusinessinsights.com/canned-food-market-103258
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