The global canned food market size was USD 91.90 billion in 2019 and is projected to reach USD 111.13 billion by 2032, exhibiting a CAGR of 1.57% during the forecast period based on our analysis in the existing report. North America dominated the canned food market with a market share of 39.1% in 2019.

The global market is majorly driven by the rise in the consumption of various packaged food products and beverages that are convenient to use or consume. These product types are processed by various techniques such as peeling, chopping, or cooking, and then sealed in an air-tight tin or aluminium can. Owing to the fast-paced lifestyle and rise in the working population, the consumption of convenience food products has increased. This directly propels the market growth.

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Canned Foods Market Overview:

Canned foods have become increasingly popular due to the fast-paced lifestyles of consumers, with widespread consumption observed globally in recent decades. The growing demand for clean-label products—those with fewer artificial additives—has further fueled the expansion of the global canned foods market. Additionally, the adoption of eco-friendly materials in can manufacturing is expected to contribute to market growth in the coming years. The widespread availability of canned foods at retail chains, grocery stores, and other outlets will promote broader consumption worldwide. The diverse range of preserved foods available will also benefit companies operating within the market. Investments in the development of long-lasting canned foods are likely to drive further growth.

Impact of Company Mergers on Market Growth:

The rise in mergers, acquisitions, and collaborations has significantly influenced the growth of the canned foods market’s growth. Major companies are partnering to maximize resource utilization and expand their consumer base. A notable example is B&G Foods, which completed the acquisition of Farmwise LLC in February 2020. Farmwise is a renowned global manufacturer of canned vegetables, and this acquisition is expected to enhance B&G Foods’ range of plant-based protein products, strengthening its global business. This strategic move is poised to impact the growth of the canned foods market in the coming years.

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Regional Insights:

North America to Lead Market Growth:

Among the five major regions—North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa—North America is projected to dominate the canned foods market in the coming years. The fast-paced lifestyle and growing demand for convenient, ready-to-eat canned foods, especially in the United States, will be key drivers of market expansion. The presence of large-scale retailers and the increasing popularity of convenience foods will further fuel growth. In 2019, North America’s market value reached USD 35.93 billion, and this figure is expected to continue rising in the forecast period.

Europe is expected to become the second-largest market, with rising consumption of canned foods, particularly among millennials in various European countries, contributing to the market’s growth.

List of Top Canned Food Companies:

  • The Kraft Heinz Company (United States)
  • Bolton Group S.r.l. (Italy)
  • Campbell Soup Company (United States)
  • Conagra Brands, Inc (United States)
  • Nestlé (Switzerland)
  • Danish Crown AmbA (Denmark)
  • Del Monte Foods, Inc (United States)
  • JBS USA Holdings, Inc. (United States)
  • Ayam Brand (Singapore)
  • Holyland Marketing Private Limited (India)

Industry Developments:

  • April 2020: Baxters Food Group Limited launched a new range of vegan tin-canned soups in three flavors: Jackfruit, Three Bean & Chipotle, Sri Lankan Sweet Potato, and Butternut Squash & Lentil Dhansak. This innovation caters to the growing demand for plant-based and convenient meal options, expanding the company’s product portfolio and appealing to health-conscious consumers.

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