The Canned foods are the food products that are conserved by sterilizing and sealing them in impermeable containers. Canning of food products is done to encompass their shelf life, attached with great quality and high nutritional assessment. Canned food is obtainable in the market in a series of product forms such as seafood, meat, meals, beans, lentils, fruits, vegetables, soups & sauces, sweets & desserts, and pastas. Additives such as spices, flavors, and seasonings are effectively utilized to enhance the aroma, taste, and steadiness of the canned food products. Food & beverages producers have financed a lot in R&D to improve the characteristics, taste, or nutritional value of canned food.s
According to the report analysis, ‘Canned Food Market by Product Type (Canned Meat & Seafood, Canned Fruit & Vegetables, Canned Ready Meals, and Others), Distribution Channel (Supermarket/Hypermarket, Convenience stores, E-commerce, and Others), and Type (Organic and Conventional): Global Opportunity Analysis and Industry Forecast, 2019-2026’ states that in the canned food market there are several corporates which presently functioning more actively for leading the fastest market growth and registering the great value of market share around the globe during the incoming years while delivering the better consumer satisfaction, spreading the awareness related to the applications and benefits of such, implementing the profitable strategies, analyzing and studying the strategies of the competitors, delivering the better consumer satisfaction, employing the young work force and decreasing the linked prices includes Del Monte Foods, Conagra Brands, Kraft Heinz, Nestle, Campbell Soup Company, JBS, CHB Group, AYAM, Danish Crown, Bolton Group and several others.
The worldwide canned food market was word at USD 91.4 billion in 2018 and is anticipated to reach USD 124.8 billion by 2026, with a CAGR of 3.9% throughout the forecast period. The Consumer requirement for the convenient canned food products that are vigorous, ethical, and comforting, and fit for fast-paced life is a foremost trend in developed economies. In addition, the effective growth in disposable income in emerging regions such as China, India, and Brazil has led to augment the expenditure on time-saving and labor-saving canned food products.
Customers are not enthusiastic to spend much time on food preparation; thus, they desire convenience over price. Redefinition of the gender roles in households, with more functioning women in the industry, further supplements the requirement for microwavable foods. The retail enlargement is supported by the speedily expanding economy, coupled with growing consumption rates, urbanizing population, and increasing middle-class population, predominantly in emerging economies.
The effective growth in the disposable income, innovative packaging, and forms of canned products offered by foremost players; and augment in demand for convenience amongst consumers are projected to deliver the numerous opportunities for the expansion of the worldwide canned food market.
Furthermore, the Asia-Pacific is projected to witness the highest CAGR, due to the rise in disposable income and hectic lifestyle of consumers as a result of higher employment and increasing working women populace in the region. Therefore, in the near years, it is predicted that the market of canned food will increase around the globe more actively over the inflowing years more effectively.
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Ankur Gupta, Head Marketing & Communications