Portland, OR, Aug. 20, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research,the global canned food market generated $91.4billion in 2018, and is estimated to reach $124.83billion by 2026, registering a CAGR of 3.9% from 2019 to 2026.The report offers anextensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.

Rise in organized retailing and growingdemand for shelf-stable and nutritious food across the globe drivesthe growth of the global canned food market.However,growing awareness regarding chemicals and preservatives restrain the market growth. Furthermore,surge in adoption of organic canned food products from consumers due to rise in health concern is expected to provide new opportunitiesduring the forecast period 2019–2026.

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Covid-19 scenario:

  • During the pandemic, people have been purchasing increased amount of canned food fearing for shortage of the supply in the future.
  • The disruption in supply chain has increased the demand for canned food as it can be stored for a longer period and minimize the loss.

The report offers a detailed segmentation of the global canned food market based ontype, product type,distribution channel, and region.

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Based on type, the conventional segmentcontributed to the largest share in 2018, accounting formore than four-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, theorganic segmentis estimated to portray the highest CAGR of 6.4% during the forecast period.

Based on distribution channel, the supermarket/hypermarketsegmentaccounted for the largest share in 2018, holding nearly halfof the total share, and is expected to maintain the largest share throughout the forecast period. However,the e-commerce segmentis expected to register the highest CAGR of 6.8% from 2019 to 2026.

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Based on region,Europecontributed the highest share, accounting formore than two-fifthsof the marketsharein 2018, and will maintain its dominance throughout the forecast period.However,Asia-Pacificisexpected to grow at the highest CAGR of 5.9% from 2019 to 2026.

Leading market players analyzed in the research include Conagra Brands, Del Monte Foods,Nestlé,Kraft Heinz, JBS, Campbell Soup Company, AYAM,CHB Group,Bolton Group, and Danish Crow.

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Canned Food

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