Global Canned Meat Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Canned Meat Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The canned meat market is expected to register a CAGR of 8.1% during the forecast period (2020-2025).

Key Highlights

• The market is mainly driven by the rising urban population that prefers easy and convenient food, and the demand for healthy food rich in protein, functional fibers, vitamins, and omega-3 fatty acids. Consumers who are willing to spend a little more for the products offering such properties, coupled with the demand for small, easy, ready-to-cook meat and seafood, and organic canned fruits and vegetables are thus, fueling the market sales.
• Furthermore, the rising awareness of the ills of plastic packaging and the demand for a sustainable solution and increasing recycling rates globally have been further driving the market.

Key Market TrendsIncreasing Demand for Canned Seafood

The demand for canned fish and seafood has witnessed a steady growth owing to the consumer awareness regarding the nutritional benefits of seafood coupled with the convenience in consumption it provides and the long shelf life it possesses. According to the Food and Agriculture Organization of the United Nations, as of 2017, Asia-Pacific is the largest exporter as well as the largest importer of seafood in the world. Although the consumption of canned seafood is considerably low in the region, as most of the regional population in Asia-Pacific prefers to eat fresh seafood, when compared to frozen seafood, the demand for canned seafood mostly originated for seafood that is not available locally. For example, pasteurized crab meat is one of the prominent canned seafood products sold in Asia-Pacific countries after canned fish, like tuna.

Asia Pacific is the fastest-growing Region

Asia-Pacific is the fastest-growing region in the global market for canned meat, especially canned fish/seafood, and fruits. Countries, such as Japan, Korea, and China import canned crab meat in high quantities. According to the recent estimates of FAO, China and Korea were the largest importers of crab meat, after the United States, in 2017. In fact, Japan alone imported 40% more crab from Newfoundland, Canada (one of the largest producers and exporters of crab meat in the world) in 2017. Also, the food presence of major supermarkets, such as 7-Eleven, E-mart, Big C, etc. and the increasing internet penetration, online market for the purchase of canned meat products are therefore surging the market growth.

Competitive Landscape

The market for canned meat is competitive, owing to the presence of large regional and domestic players in different countries. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Some of the major players in the canned meat market, globally are:

Additional Benefits:

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

Companies Mentioned

Hormel Foods Corporation
Bolton Group
Survival Cave Food
Mundella Foods
Xiamen Gulong Food
Meat Maniac
Crown Prince Inc.
JBS

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