Global Canned Food Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Canned Food Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Canning is a food preservation method, in which food is processed and sealed in an airtight container. Canned food is sterilized at high temperature. There are many kinds of canned food, including meat, seafood, vegetables, fruits and soup. Canned food usually needs no preservative and can be stored for one to five years.

Market Overview:

The latest research study on the global Canned Food market finds that the global Canned Food market reached a value of USD 117689.0 million in 2022. It’s expected that the market will achieve USD 136076.0 million by 2028, exhibiting a CAGR of 2.45% during the forecast period.

The new crown epidemic affects the industry chain

First of all, due to the impact of the epidemic, it is difficult for the procurement and transportation of raw materials and equipment to be in place in a timely manner, and upstream enterprises affect the work progress of mid- and downstream enterprises. Secondly, the manufacturing enterprises in the canned food industry are affected to varying degrees, and enterprises re-examine their investment expansion strategies, especially productive investment expansion strategies. They will re-formulate production plans based on the current epidemic situation and market supply and demand; at the same time, many countries will impose controls on domestic transportation and movement of people, and impose restrictions on imported goods. This has resulted in varying degrees of logistical disruption, cargo accumulation and shipping delays. A lot of cargo is stuck at the port, containers are in short supply, and the goods cannot be delivered. Production and delivery delays due to poor logistics may result in customer churn if the customer's delivery time requirements do not meet the contractual requirements.

Product advantages

With the development of modern economy, people's life rhythm is gradually accelerated, and fast, instant and simple ready-to-eat products have become the choice of more people. With the change of people's lifestyle, many people began to eat canned food and made it a dietary choice. Canned foods also provide a nutritious, safe, affordable, convenient and sustainable option. In fact, canned food also contains almost the same nutrients as fresh food. Protein, carbohydrates, fats and fat-soluble vitamins and minerals, such as vitamins A, D, E and K, are still contained in canned food. After the food is put into the canned, the nutritional components in the food are still intact, but the quantity is slightly reduced. Some canned foods can also have a higher level of nutrition than ordinary foods. For example, tomatoes and corn have higher antioxidants after heating, so canned tomatoes and corn may contain higher antioxidants than usual. The change of people's lifestyle drives the growth of canned food market.

Industry barriers are relatively low, and market competition is fierce

For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. The field of competition involves brand recognition, taste, nutritional value, price, promotion, innovation, shelf space, customer service, and more. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made.
Canned food industry is facing fierce competition. There are many well-known enterprises with rich product systems in the world, such as Conagra Brands，Campbell Soup and Kraft Heinz, which have launched fierce market share competition. In addition, with the increasing consumption of instant products in recent years, the market demand is constantly rising, attracting more participants to enter the market. Local suppliers in emerging economies are competing with established players based on product pricing. For example, China is the world's largest manufacturing country, with abundant agricultural resources, complete infrastructure, relatively low labor costs, and a large export volume of canned food, actively grabbing market share. Intense market competition and more market participants pose certain challenges to the quality, flavor and sales channels of canned food.

Region Overview:

In global comparison, a significant portion of the revenue was generated in North America (35.7% in 2022).

Company Overview:

Conagra Brands is one of the major players operating in the Canned Food market, holding a share of 2.89% in 2023.

Conagra Brands

Conagra Brands, Inc. headquartered in Chicago, is one of North America's leading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The company’s portfolio is evolving to satisfy people's changing food preferences. Conagra’s iconic brands, such as Birds Eye®, Marie Callender's®, Banquet®, Healthy Choice®, Slim Jim®, Reddi-wip®, and Vlasic®, as well as emerging brands, including Angie's® BOOMCHICKAPOP®, Duke's®, Earth Balance®, Gardein®, and Frontera®, offer choices for every occasion.

Campbell Soup

Campbell Soup Company (Campbell) is a food company, which manufactures and markets food products. The Company's segments include Americas Simple Meals and Beverages, and Global Biscuits and Snacks. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses. Americas Simple Meals and Beverages segment includes the products, such as Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pasta, beans and dinner sauces; Plum food and snacks; V8 juices and beverages, and Campbell's tomato juice. The Global Biscuits and Snacks segment includes Pepperidge Farm cookies, crackers, bakery and frozen products.

Segmentation Overview:

As for product types, the Canned Fish/Seafood segment held the largest market share in 2022.

Application Overview:

The market's largest segment by application is the segment Supermarkets/Hypermarkets, with a market share of 44.12% in 2022.

Key Companies in the global Canned Food market covered in Chapter 3:

JBS
B&G Food
Nestle
Conagra Brands
Dole Food
Bonduelle
Kangfa
Bolton Group
General Mills
Kraft Heinz
Shanghaimaling
Grupo Calvo
Goya Foods
Dongwon Industries
Rhodes Food Group
Del Monte Foods
Danish Crown
Bumble Bee
Ayam Brand
Campbell Soup
Hormel Foods

In Chapter 4 and Chapter 14.2, on the basis of types, the Canned Food market from 2018 to 2029 is primarily split into:

Canned Cooking Sauces
Canned Desserts
Canned Fish/Seafood
Canned Fruits
Canned Meat
Canned Pasta & Noodles
Canned Soups
Canned Vegetables

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Canned Food market from 2018 to 2029 covers:

Supermarkets/Hypermarkets
Independent Retailers
Convenience Stores
Online Sales
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)