Canned Fruits - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Canned Fruits - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Canned Fruits Market size is estimated at USD 12.20 billion in 2024, and is expected to reach USD 16.20 billion by 2029, growing at a CAGR of 5.81% during the forecast period (2024-2029).

Key Highlights

• The primary factors driving the anticipated market growth are developments that advance canning technology. Increased research and development spending is associated with the production of healthier foods, improved "Nutri-score" labels, and a wider range of convenience products. The market will expand as a result of the developing distribution network for canned goods across the globe. Consider offline and online retailers that specialize in a niche or specialty food markets, such as Asian, Halal, vegan, organic, etc. The market for canned fruits and vegetables is still heavily influenced by the long shelf life of these products.
• Prices have a big impact on what people spend on food, which ultimately helps to explain some of the trends in the food marketing industry. Low-income individuals like to shop at low-cost shops/outlets and frequently purchase less expensive foods. Private-label manufacturers dominate this category since they are generally offered at lower prices than branded or big players. These goods have long been easily accessible in supermarkets and other retail stores. As a result, mass market outlets are seeing an increase in sales as producers continue to release low-cost canned goods in large quantities.
• Canned fruits require a specific environment of storage and unwanted complications occur if the product is exposed to incompatible conditions. This mostly happens if the contents are not being consumed in a short time once the can is opened. Nevertheless, secondary plastic lids are being considered as a remedy to tackle enzymatic reactions that lead to spoilage.

Canned Fruit Market Trends

Growing Consumer Preference Towards Fresh, Convenient Fruits Offering

The market for canned fruit has been considerably impacted by a constant increase in the consumption of fresh and minimally processed fruit. Therefore, major brand manufacturers are shifting to minimally processed fruits as product line extensions of canned fruits and repositioning and repackaging their products accordingly. To increase sales, bulk cans of fruit could be introduced and distributed through mass merchandisers and low-cost food retailers.

Manufacturers aim to increase sales of canned fruits as a healthy snack and position them as low-sugar products that the consumer will perceive as safe. According to the Centers for Disease Control and Prevention, only 10% of adults ate enough fruits or vegetables due to high cost, limited availability, and access, or perceived lack of preparation time. However, canned food is much more affordable, nutritious, with great taste, and highly convenient. Additionally, growing consumer awareness of canned fruit consumption might a key driver for the growth of canned fruit.

Asia Pacific Canned Fruits Market is the Progressing Rapidly

With the transformation of society in the Asia Pacific region, the demand for processed foods is rising. The fast-moving lifestyle and continuously increasing population is the primary reason for the inflated demand for ready-to-eat foods. Moreover, with the increasing demand for processed foods, there is a need to develop healthier solutions with sustained shelf-life. Canned fruits turn out to be the best remedy for all applications requiring fruit pieces due to their easy handling and ready-to-utilize facility. With the progressing food industry in China, the demand for canned fruits is rising for versatile applications. India is also witnessing a similar boom due to the growing inclination of people towards fruit cakes and fruit bread. The demand for canned fruits is rising, especially in the bakery industry, as the fruit bits with absorbed syrup tend to provide an undoubtedly fresh and sweet taste, contrary to fresh fruit pieces, which might turn out bitter on rare occasions.

Canned Fruit Industry Overview

Food safety has always been and remains a top priority for every company. Abiding with this, the leading players promise to provide customers with the freshest, safest, and highest-quality fruit. The introduction of hi-technology machines, including new optical color and laser sorters, custom-designed pitting and processing lines, high-speed packaging lines, and on-site freezing and frozen storage, have further made it convenient to process fruits in a better manner. With the adoption of various strategies for market expansion, Dole Food Company, Del Monte Food Inc., Rhodes Food Group, and Kraft Heinz Company are some of the major payers of the canned fruits market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support