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Market Overview of Global Canned Food market:
According to our latest research, the global Canned Food market looks promising in the next 5 years. As of 2022, the global Canned Food market was estimated at USD 117689.0 million, and it's anticipated to reach USD 136076.0 million in 2028, with a CAGR of 2.45% during the forecast years.
Canning is a food preservation method, in which food is processed and sealed in an airtight container. Canned food is sterilized at high temperature. There are many kinds of canned food, including meat, seafood, vegetables, fruits and soup. Canned food usually needs no preservative and can be stored for one to five years.
The new crown epidemic affects the industry chain
First of all, due to the impact of the epidemic, it is difficult for the procurement and transportation of raw materials and equipment to be in place in a timely manner, and upstream enterprises affect the work progress of mid- and downstream enterprises. Secondly, the manufacturing enterprises in the canned food industry are affected to varying degrees, and enterprises re-examine their investment expansion strategies, especially productive investment expansion strategies. They will re-formulate production plans based on the current epidemic situation and market supply and demand; at the same time, many countries will impose controls on domestic transportation and movement of people, and impose restrictions on imported goods. This has resulted in varying degrees of logistical disruption, cargo accumulation and shipping delays. A lot of cargo is stuck at the port, containers are in short supply, and the goods cannot be delivered. Production and delivery delays due to poor logistics may result in customer churn if the customer's delivery time requirements do not meet the contractual requirements.
Product advantages
With the development of modern economy, people's life rhythm is gradually accelerated, and fast, instant and simple ready-to-eat products have become the choice of more people. With the change of people's lifestyle, many people began to eat canned food and made it a dietary choice. Canned foods also provide a nutritious, safe, affordable, convenient and sustainable option. In fact, canned food also contains almost the same nutrients as fresh food. Protein, carbohydrates, fats and fat-soluble vitamins and minerals, such as vitamins A, D, E and K, are still contained in canned food. After the food is put into the canned, the nutritional components in the food are still intact, but the quantity is slightly reduced. Some canned foods can also have a higher level of nutrition than ordinary foods. For example, tomatoes and corn have higher antioxidants after heating, so canned tomatoes and corn may contain higher antioxidants than usual. The change of people's lifestyle drives the growth of canned food market.
Industry barriers are relatively low, and market competition is fierce
For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. The field of competition involves brand recognition, taste, nutritional value, price, promotion, innovation, shelf space, customer service, and more. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made.
Canned food industry is facing fierce competition. There are many well-known enterprises with rich product systems in the world, such as Conagra Brands?Campbell Soup and Kraft Heinz, which have launched fierce market share competition. In addition, with the increasing consumption of instant products in recent years, the market demand is constantly rising, attracting more participants to enter the market. Local suppliers in emerging economies are competing with established players based on product pricing. For example, China is the world's largest manufacturing country, with abundant agricultural resources, complete infrastructure, relatively low labor costs, and a large export volume of canned food, actively grabbing market share. Intense market competition and more market participants pose certain challenges to the quality, flavor and sales channels of canned food.
Region Overview:
In global comparison, a significant portion of the revenue was generated in North America (35.7% in 2022).
Company Overview:
Conagra Brands is one of the major players operating in the Canned Food market, holding a share of 2.89% in 2023.
Conagra Brands
Conagra Brands, Inc. headquartered in Chicago, is one of North America's leading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The company's portfolio is evolving to satisfy people's changing food preferences. Conagra's iconic brands, such as Birds Eye®, Marie Callender's®, Banquet®, Healthy Choice®, Slim Jim®, Reddi-wip®, and Vlasic®, as well as emerging brands, including Angie's® BOOMCHICKAPOP®, Duke's®, Earth Balance®, Gardein®, and Frontera®, offer choices for every occasion.
Campbell Soup
Campbell Soup Company (Campbell) is a food company, which manufactures and markets food products. The Company's segments include Americas Simple Meals and Beverages, and Global Biscuits and Snacks. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses. Americas Simple Meals and Beverages segment includes the products, such as Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pasta, beans and dinner sauces; Plum food and snacks; V8 juices and beverages, and Campbell's tomato juice. The Global Biscuits and Snacks segment includes Pepperidge Farm cookies, crackers, bakery and frozen products.
Segmentation Overview:
As for product types, the Canned Fish/Seafood segment held the largest market share in 2022.
Application Overview:
The market's largest segment by application is the segment Supermarkets/Hypermarkets, with a market share of 44.12% in 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Canned Food market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Canned Food Market Report:
Market Size Estimates: Canned Food market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Canned Food market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Canned Food market
Segment Market Analysis: Canned Food market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Canned Food market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Canned Food Market: Revenue and sales volume of major countries in each region
Canned Food Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Canned Food market in major regions.
Canned Food Industry Value Chain: Canned Food market raw materials & suppliers, manufacturing process, distributors, downstream customers
Canned Food Industry News, Policies & Regulations
Key players in the global Canned Food market are covered in Chapter 12:
General Mills
Bonduelle
B&G Food
Kraft Heinz
Ayam Brand
Grupo Calvo
Del Monte Foods
Campbell Soup
Bolton Group
Bumble Bee
Conagra Brands
Danish Crown
Dongwon Industries
Rhodes Food Group
Goya Foods
Shanghaimaling
Dole Food
JBS
Hormel Foods
Kangfa
Nestle
In Chapter 2 and Chapter 15.1, based on types, the Canned Food market from 2018 to 2028 is primarily split into:
Canned Cooking Sauces
Canned Desserts
Canned Fish/Seafood
Canned Fruits
Canned Meat
Canned Pasta & Noodles
Canned Soups
Canned Vegetables
In Chapter 3 and Chapter 15.2, based on applications, the Canned Food market from 2018 to 2028 covers:
Supermarkets/Hypermarkets
Independent Retailers
Convenience Stores
Online Sales
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Canned Food market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028