The global canned food market size was USD 91.90 billion in 2019 and is projected to reach USD 111.13 billion by 2032, exhibiting a CAGR of 1.57% during the forecast period based on our analysis in the existing report. North America dominated the canned food market with a market share of 39.1% in 2019.

The global market is majorly driven by the rise in the consumption of various packaged food products and beverages that are convenient to use or consume. These product types are processed by various techniques such as peeling, chopping, or cooking, and then sealed in an air-tight tin or aluminium can. Owing to the fast-paced lifestyle and rise in the working population, the consumption of convenience food products has increased. This directly propels the market growth.

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Canned Foods Market Overview:

Canned foods have gained widespread popularity due to the adoption of fast-paced lifestyles, with significant consumption across the globe in recent decades. The rising demand for clean-label products has further boosted the global canned foods market. Additionally, the use of eco-friendly materials in can manufacturing is expected to contribute to the market’s growth in the coming years. The availability of canned foods at retail chains, grocery stores, and other outlets will lead to broader consumption worldwide. The variety of preserved foods available will benefit companies operating in the market. Significant investments in developing long-lasting canned foods will drive market growth in the near future.

Impact of Company Mergers on Market Growth:

The increasing number of mergers, acquisitions, and collaborations has had a substantial impact on the canned foods market’s growth. Major companies are collaborating to maximize resource use and expand their consumer base. For instance, in February 2020, B&G Foods completed the acquisition of Farmwise LLC, a renowned global manufacturer of canned vegetables. This acquisition is expected to enhance B&G Foods’ range of plant-based protein products and strengthen its global business, which will positively affect the canned foods market’s growth in the coming years.

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Regional Insights:

North America to Lead Market Growth:

Among the five major regions—North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa—the North American market is expected to dominate in the coming years. The fast-paced lifestyle and growing demand for canned foods, particularly in the United States, will drive market expansion. The presence of large-scale retailers and the increasing popularity of convenience foods will further support market growth. In 2019, North America’s market value was USD 35.93 billion, with projections for continued growth. Europe is expected to become the second-largest market, driven by the rising consumption of canned foods, particularly among millennials in various European countries.

List of Top Canned Food Companies:

  • 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)

Industry Developments:

April 2020: Baxters Food Group Limited launched a new range of vegan tin-canned soups in three flavors: Jackfruit, Three Bean & Chipotle; Sri Lankan Sweet Potato; and Butternut Squash & Lentil Dhansak.

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