Market Research Report
Global Canned Food Market - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||389876|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|Global Canned Food Market - Growth, Trends, and Forecast (2018 - 2023)|
|Published: May 5, 2018||Content info: 110 Pages||
The global canned food market is expected to reach USD 118 billion by 2023, at a CAGR of 3.8%, during the forecast period (2018-2023). The growing trend in the canned food market is innovations in packaging. With increase in demand for chemical-free canned foods, manufacturers are focusing on innovations in packaging. Many brands of canned food products have started offering food in BPA-free containers.
The growing trend for organic canned fruits and vegetables and focus on social media marketing and promotions further adds to the revenue generating factors in the global canned food market.
Canned food requires less preparation time and are considered convenient to use, which has led to its popularity in the global market. The demand for sealed and tamper-proof steel container food is high, as they protect food from harmful bacteria. Also, due to hectic and busy lifestyles of consumers, canned food is expected to gain more importance. The process of canning helps in preserving the quality of food products and preventing food spoilage, which subsequently increases their shelf life.
However, major restraining factors affecting the global canned food packaging market are availability of alternative packaging solutions, high cost of metals, introduction of polyethylene terephthalate, and high-density polyethylene materials. Also, canned foods are subject to the risk of BPA, which is hazardous to health.
Factors, such as, innovations in packaging, high investment in R&D, and increasing demand in the Asia-Pacific region, reflect the growth opportunities for the global canned food market.
The global canned food market is segmented by type, distribution channel, and region. The fish & seafood segment is reported to be the fastest growing segment, given the high demand and sustainably sourced products. During 2015, the sale of canned food through supermarkets and hypermarkets was the most significant, due to the availability of a vast array of products, at a discounted price. Supermarkets and hypermarkets are also the ideal venues for vendors to launch their products.
The market is currently dominated by Europe, followed by North America. The evolving and changing food habits, along with increasing urbanization is driving the growth of the canned fruit products in countries, like India and China.
March 2016 - Del Monte, one of the largest producers in the region, distributors, and marketers of premium quality, branded food products, announced plans for conversion to non-BPA packaging and an increase in the non-GMO product offerings.
Major players - ATRIA GROUP, CAMPBELL SOUP, CONAGRA FOODS INC., DANISH CROWN, DELMONTE PACIFIC LTD., H.J. HEINZ COMPANY, HORMEL FOODS, JBS, LA DORIA, NESTLE, PINNACLE FOODS INC., among others.
Analyzing outlook of the market with the recent trends and Porters five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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