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Market Overview

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The Canned Food Market is projected to grow from USD 85,562 million in 2023 to USD 104,350 million by 2028, with a compound annual growth rate (CAGR) of 4.05% during the forecast period (2023-2028).

Canning is a preservation method that extends the shelf life of food products. Canned foods are widely used in many countries due to their numerous benefits. They help prevent spoilage caused by external factors such as sunlight, air, or insects. The canning process also preserves the nutrients in the food. Fast-food chains and restaurants often rely on canned foods like corn and tomato purees because of their convenience and longer shelf life. Major players in the industry, including Campbell’s, Del Monte, and Nestle, often rebrand their existing products with new packaging or logos to attract consumer attention. For instance, Campbell Soups relaunched its Campbell’s Condensed Soup in November 2021 with a new logo, packaging, and visual identity.

The market’s growth is primarily driven by the increasing urban population, which seeks easy and convenient food options, as well as the demand for healthy foods rich in protein, functional fibers, vitamins, and omega-3 fatty acids. Consumers are willing to spend more on products that offer these attributes, leading to higher sales of small, easy-to-cook meat and seafood products, as well as organic canned fruits and vegetables. Additionally, the growing awareness of the negative impact of plastic packaging and the demand for sustainable solutions, along with increasing global recycling rates, contribute to the market’s expansion. The rising number of food retail outlets, urbanization, research and development investments, and effective marketing strategies employed by players in the canned food market are expected to positively impact the overall revenue of the global industry.

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Market Segmentation

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The market is segmented based on various factors, including type, distribution channel, and geography.

Segmentation by Type
Canned Meat Products
Canned Fish/Seafood
Canned Vegetables
Canned Fruits
Other Types

Segmentation by Distribution Channel
Supermarkets/Hypermarkets
Convenience/Grocery Stores
Online Retail Stores
Other Distribution Channels

Segmentation by Geography
North America – United States, Canada, Mexico, and Rest of North America
Europe – United Kingdom, Germany, France, Italy, Spain, Russia, and Rest of Europe
Asia-Pacific – China, Japan, India, Australia, and Rest of Asia-Pacific
Latin America – Brazil, Argentina, and Rest of Latin America
Middle East and Africa – Saudi Arabia, South Africa, and Rest of Middle East and Africa

Canned seafood or fish refers to processed seafood products that are preserved in airtight sealed containers such as aluminum or tin cans. The convenience and nutritional value offered by canned seafood/fish have contributed to its growing popularity among consumers worldwide.

The lack of refrigeration requirements, extended shelf life, and high protein content make canned fish/seafood products increasingly important to consumers. These factors are expected to drive the growth of this market segment during the forecast period.

Supermarkets and hypermarkets, known for their proximity to residential areas and easy accessibility, are highly frequented retail outlets. Capitalizing on these advantages, canned food manufacturers have been showcasing their product portfolios in these channels to reach a larger consumer base.

Convenience plays a pivotal role in driving the consumption of canned food globally, especially as disposable income increases and the number of working women rises. Consumers’ preference for convenient food products has grown due to their busy lifestyles. Canned foods have become a preferred option among consumers due to their ability to retain nutrients, color, and flavor. Changes in lifestyles and increased expenditure on food and beverages have led to a significant shift in dietary preferences, with a higher demand for animal-sourced food, fats and oils, refined grains, fruits, and vegetables.

Consumers with hectic schedules, particularly those lacking cooking skills or fatigued by fast-paced lifestyles, drive the demand for convenience foods. Changing demographics greatly influence the convenience foods market. Sales of food products strongly correlate with the degree of convenience they offer. Convenience remains a key value proposition for canned foods.

In the market, consumers prefer canned meat, fish, vegetables, and fruits to minimize visits to retail stores and stock up on these products at home. Consequently, the country emerges as one of Europe’s leading importers of processed vegetables and fruits. For example, in 2021, Germany accounted for 26% of the total volume of canned beans imported into Europe, amounting to approximately EUR 114.1 million in value.

With consumers leading increasingly busy lifestyles, convenience-oriented products gain favor. Canned food products like fruits and vegetables are frequently purchased in supermarkets and convenience stores. Tomato purees, pastes, and pickled vegetables in cans are commonly used in various cuisine recipes consumed across different European countries.

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Competitive Landscape

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The global canned food market is characterized by intense competition, primarily driven by the presence of significant regional and domestic players. Notable participants in this market include Del Monte Foods Inc., Conagra Brands Inc., Kraft Heinz Company, Campbell Soup Company, Nestlé S.A., and others. These companies are actively investing in product development, emphasizing their research and development initiatives for long-term growth. Moreover, key players have also prioritized sustainable production practices to attract a larger consumer base.

The Kraft Heinz Company offers a range of canned food products under its core brands such as Heinz, Heinz Big Eat, Kraft dinners, Heinz beans, and Heinz Golden Circle, among others. These products encompass ready meals tailored for breakfast, lunch, and dinner.

Thai Union Group operates its canned food business through various brands, including Chicken of the Sea, Genova, John West, and others. The company places emphasis on providing diverse tastes and utilizing different processing ingredients in its product offerings.

Key companies profiled in this report include Campbell Soup Co., Conagra Brands Inc., Del Monte Pacific Limited, Del Monte Pacific Limited, Bolton Group, The Kraft Heinz Company, Bonduelle SA, JBS SA, Thai Union Group PCL, Dole Holding Company LLC, Century Pacific Food Inc.

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Recent Industry Developments

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During October 2022, Chunky Soup, a product of Campbell Soup Company, introduced four new flavors into its lineup. These flavors are Spicy Chicken Noodle, Spicy Steak n’ Potato, Spicy Sirloin Burger, and Spicy Chicken and Sausage Gumbo.

In September 2022, Campbell’s Pacific Foods expanded its range by launching new ready-to-serve soups and plant-based chills. This new line includes 14 different flavors, all of which are organic and conveniently prepared.

In August 2021, The Bolton Group made an announcement regarding its acquisition of Wild Planet Foods. Wild Planet Foods is recognized as an industry innovator and frontrunner in the natural and sustainably caught canned seafood market in the United States.

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Key Questions Answered

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What is the duration of the study for the Canned Food Market?
The study period for the Canned Food Market extends from 2018 to 2028.

What is the growth rate of the Canned Food Market?
The Canned Food Market is projected to grow at a compound annual growth rate (CAGR) of 4.05% over the next five years.

What is the size of the Canned Food Market?
The Canned Food Market is expected to reach USD 85,562 million in 2023 and is anticipated to grow at a CAGR of 4.05% to reach USD 104,350 million by 2028.

Which region exhibits the highest growth rate in the Canned Food Market?
South America demonstrates the highest CAGR during the period of 2018-2028.

Which region has the largest market share in the Canned Food Market?
Europe holds the highest market share in 2022.

Who are the major players in the Canned Food Market?
The key companies operating in the Canned Food Market include Kraft Heinz Company, Thai Union Group Plc, Bolton Group, Del Monte Pacific Limited, and Campbell Soup Co.