Pune, India, Jan. 13, 2022 (GLOBE NEWSWIRE) -- The global canned goods market was valued at USD 20,820.5 million in 2021, projected to grow at a CAGR of 3.8% during the forecast period 2021 to 2030.
Canned foodstuffs are foods that have been preserved in an airtight container through the process of canning. The growing urban population's inclination for fast and quick dining, as well as the demand for healthy foods high in protein, vitamins, and omega-3 fatty acids, are driving the industry. Because of consumers' hectic lifestyles, the use of convenience foods has expanded in recent years. Because of their capacity to keep a high amount of nutrients, flavor, and color, canned foods have become one of the most popular preserved foods among consumers. Canned meals, on the other hand, have a number of drawbacks, including excessive sugar and sodium levels, as well as a lack of nutrients.
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Raw ingredients such as cereals, fruits, and vegetables, meat and fish are important inputs in the production of canned food. These raw ingredients can be obtained in one of two ways via open marketplaces or by personally dealing with farmers and producers. This eliminates the need for a third-party, which is typically advantageous to both the canned food manufacturer and the producers or farmers.
Seafood, fruits and vegetables, chocolates and desserts, soups and sauces, lentils, and pasta are all commercially accessible canned goods. As the number of working women has increased, customers' reliance on ready-to-eat meals and convenience foods has grown.
As a result of time restrictions and the simplicity of preparation, demand for healthy and shelf-stable food products has increased, fueling the canned goods market. However, the industry's reliance on raw resources such as steel and aluminum for packaging, as well as regional-specific restraints such as low awareness and high cost, are limiting market expansion. Steel, for example, is used to preserve canned foods in most developed countries, whereas aluminum is utilized to make beverage cans.
COVID 19 Impact on Global Canned Goods Market
Every sector has been altered by the COVID 19 pandemic. COVID-19 has influenced customer behavior all around the world. Many consumers must deal with food scarcity and delivery constraints in order to feed themselves and their families. Despite promises from the food industry concerning food supply, the initial phase of the COVID-19 pandemic was defined by panic buying by customers, who engaged in stockpiling behaviors in anticipation of mobility restrictions and fears of food transit disruptions. As a result of the crisis, there has been an increase in the supply of preferred products like pasta, canned fish, rice, and canned tomatoes, among others, to create home stocks, as well as a decrease in the use of perishable products, which have been replaced by those with longer preservation times, and a trend to replace fresh products with frozen ones.
Global Canned Goods Market, by Type
Based on type, the global canned goods market is segmented into canned meat and poultry, canned fruits, canned vegetables, canned aquatic products, and others.
Other culinary products include sauces, candies, and desserts, as well as other infrequently used canned meals. The meat and poultry segment holds the fastest growing segment in terms of revenue.
Canned meat and poultry product adoption varies by country and is influenced by a number of factors including price, brand, and the types of meat and poultry products available. Demand for canned seafood such as canned tuna, canned mackerel, and canned shrimp has more than doubled in recent years in China, Japan, Thailand, and Taiwan.
Global Canned Goods Market, by Packaging Materials
Based on packaging materials, the market is divided into three categories: tin, steel, and aluminum. Tin-free steel and tinplate steel are two types of steel.
Furthermore, the aluminum cans category is expected to be the fastest-growing segment during the projected period due to many benefits offered in the canned goods industry. Protection from oxygen, moisture, light, and other pollutants, as well as increased shelf life with quality preservation benefits, are just a few of the benefits. Aluminum cans are corrosion resistant and do not rust, so they can keep food fresh for a long period.
Global Canned Goods Market, by Application
Based on the end user, the market is segmented into department stores, supermarkets, restaurants, online sales, and others. Department stores will hold the fastest growing market segment in 2021. As department stores have advantages, such as bulk purchasing at lower rates, central location, and the availability of top-selling brands under one roof, may explain their success.
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Global Canned Goods Market, by Region
Based on the region, the global access control system market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa and South America.
Europe is predicted to lead the market in 2021 due to increased spending on canned food items such as canned tomatoes, tinned meat products, and canned vegetables in the region. The European canned goods market was expected to increase at a moderate rate over the projection period without the impact of COVID-19. However, Asia Pacific is expected to have the greatest CAGR throughout the projected period, owing to changing lifestyles and disposable income in countries such as India and China.
Some Recent Developments in the Global Canned Goods Market:
- April 2020, Napolina (Italy), 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.
- 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.
Profiles of major market players operating in the global canned goods market include 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)
For more insights, please check report titled, “Canned Goods Market, by Type (Canned Fruit, Canned Vegetables, Canned Meat and Poultry, Canned Aquatic Products, Others), Application (Restaurant, Supermarkets, Department Stores, Online Sales, Others), Packaging material (Tin, Steel, Aluminum), Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America)” in-depth analysis along with the table of contents (ToC).
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