1. Global Canned Food Market Insight Analysis
In 2024, the global canned food market revenue reached $123,769 million. This growth is projected to continue in the coming years, with a Compound Annual Growth Rate (CAGR) of 2.45% from 2024 to 2033.
Canned food refers to food products that have been processed and sealed in airtight containers, typically metal cans, to preserve their freshness and nutritional value. The canning process involves sterilizing the food at high temperatures to eliminate bacteria and other microorganisms, ensuring a shelf life of one to five years without the need for refrigeration.
This method of preservation not only retains the nutritional content of the food but also offers a convenient and accessible option for consumers. Canned foods encompass a wide variety of products, including meat, seafood, vegetables, fruits, and soups. They are particularly popular in developed regions such as North America and Europe, where they are used as staples in home cooking and as emergency food supplies. The convenience, affordability, and nutritional value of canned foods make them a preferred choice for many consumers, especially those with busy lifestyles.
Figure Global Canned Food Market Size (M USD) and CAGR (2024-2033)
2. Driving and Limiting Factors of Canned Food Market Growth
The growth of the canned food market is influenced by several driving factors. One of the primary drivers is the changing lifestyle of consumers, particularly in developed regions. The increasing pace of modern life has led to a higher demand for convenient, ready-to-eat products. Canned foods offer a practical solution, providing nutritious and safe food options that can be stored for extended periods.
Additionally, the economic benefits of canned foods cannot be overlooked. They are generally more affordable than fresh produce, making them accessible to a broader range of consumers. This affordability is particularly advantageous during economic downturns or periods of high inflation, when consumers are more likely to seek cost-effective food solutions.
Another significant driver is the expansion of online sales channels. The rise of e-commerce has revolutionized the way consumers purchase food products. Online platforms offer a wider variety of canned foods, often at competitive prices, and with the convenience of home delivery. This has not only increased the accessibility of canned foods but also broadened their market reach.
However, the canned food market also faces several limiting factors. One of the primary challenges is the perception of health risks associated with canned foods. Some consumers are concerned about the potential health impacts of additives, preservatives, and the presence of Bisphenol A (BPA) in can linings. These concerns can deter health-conscious consumers from purchasing canned foods.
Additionally, the intense competition within the market poses a significant challenge. The industry has a low barrier to entry, leading to a large number of players competing for market share. This competition can result in price wars and reduced profit margins for manufacturers.
The fluctuation in raw material prices also affects the canned food market. The cost of raw materials, such as fruits, vegetables, and metals for canning, can vary significantly due to factors like weather conditions, geopolitical events, and supply chain disruptions. These fluctuations can impact the profitability of canned food producers and lead to price increases for consumers.
3. Technology Innovation and Corporate Mergers and Acquisitions in Canned Food Market
The canned food market is characterized by continuous innovation and strategic corporate activities. Technological advancements have played a crucial role in improving the quality and safety of canned foods. Modern canning processes now include more efficient sterilization methods and the use of advanced materials to ensure better preservation and reduce the risk of contamination. Additionally, manufacturers are increasingly focusing on product innovation to meet evolving consumer preferences. This includes the development of new flavors, organic options, and products with reduced sodium and sugar content to appeal to health-conscious consumers.
Corporate mergers and acquisitions have also been a significant trend in the canned food industry. These strategic moves are aimed at expanding market share, diversifying product portfolios, and enhancing production capabilities. For example, Conagra Brands announced a $60 million expansion project in 2022 to increase production capacity for its popular Slim Jim meat snacks. Similarly, Kraft Heinz acquired Assan Foods in 2021 to strengthen its presence in the European, Middle Eastern, and African markets. These acquisitions and expansions not only enhance the market position of these companies but also drive industry consolidation and growth.
4. Global Canned Food Market Size by Type
The primary product types include Canned Cooking Sauces, Canned Desserts, Canned Fish/Seafood, Canned Fruits, Canned Meat, Canned Pasta & Noodles, Canned Soups, and Canned Vegetables.
Canned Cooking Sauces are ready-to-use sauces designed for cooking purposes, often used as a base for various dishes. They are typically rich in flavor and come in a variety of types, such as tomato-based sauces, creamy sauces, and ethnic sauces. In 2024, the market revenue for Canned Cooking Sauces is projected to be $3183 million USD, accounting for 8.03% of the total market share.
Canned Desserts are sweet, ready-to-eat desserts that come in cans. They include items like fruit cocktails, puddings, and other dessert items that can be consumed directly from the can or used as ingredients in other recipes. The market revenue for Canned Desserts in 2024 is projected to be $2513 million USD, representing 8.27% of the total market share.
Canned Fish/Seafood includes a variety of marine products such as tuna, sardines, salmon, and shrimp. These products are preserved in cans to maintain their freshness and nutritional value. In 2024, the market revenue for Canned Fish/Seafood is projected to be $45499 million USD, accounting for 37.77% of the total market share.
Canned Fruits are fruits that have been preserved in cans, often in syrup or juice. They are convenient for use in cooking, baking, or as a quick snack. The market revenue for Canned Fruits in 2024 is projected to be $9940 million USD, representing 8.49% of the total market share.
Canned Meat products include a variety of meats such as corned beef, Spam, and other preserved meats. These products are popular for their long shelf life and convenience. In 2024, the market revenue for Canned Meat is projected to be $30102 million USD, accounting for 25.65% of the total market share.
Canned Pasta & Noodles are pasta and noodle dishes that come pre-cooked and canned. They are often ready to eat and include a variety of flavors and types. The market revenue for Canned Pasta & Noodles in 2024 is projected to be $2661 million USD, representing 8.81% of the total market share.
Canned Soups are ready-to-eat soups that come in a variety of flavors, from classic chicken noodle to more exotic varieties. They are popular for their convenience and nutritional value. In 2024, the market revenue for Canned Soups is projected to be $4853 million USD, accounting for 4.13% of the total market share.
Canned Vegetables are vegetables that have been preserved in cans, often in water or brine. They are convenient for use in cooking and are available in a wide variety of types. The market revenue for Canned Vegetables in 2024 is projected to be $25020 million USD, representing 21.36% of the total market share.
Table Global Canned Food Market Size by Type in 2024
Market Size (M USD) 2024 | |
Canned Cooking Sauces | 3183 |
Canned Desserts | 2513 |
Canned Fish/Seafood | 45499 |
Canned Fruits | 9940 |
Canned Meat | 30102 |
Canned Pasta & Noodles | 2661 |
Canned Soups | 4853 |
Canned Vegetables | 25020 |
5. Global Canned Food Market Size by Application
The primary applications of canned food include Supermarkets/Hypermarkets, Independent Retailers, Convenience Stores, Online Sales, and Others.
Supermarkets/Hypermarkets are large retail outlets that offer a wide variety of goods, including canned food, at discounted rates. They are the primary distribution channels for canned food products. In 2024, the market revenue for Supermarkets/Hypermarkets is projected to be $54620 million USD, accounting for 45.33% of the total market share.
Independent Retailers are privately-owned stores that operate without the backing of a larger retail chain. They offer a more personalized shopping experience and often carry a variety of canned food products. In 2024, the market revenue for Independent Retailers is projected to be $35782 million USD, representing 29.79% of the total market share.
Convenience Stores are small retail stores that offer a limited range of products, including canned food, and are typically located in convenient locations such as near gas stations or in busy urban areas. In 2024, the market revenue for Convenience Stores is projected to be $7674 million USD, accounting for 6.38% of the total market share.
Online Sales involve the purchase of canned food products through e-commerce platforms. This channel has grown significantly in recent years due to the convenience and accessibility it offers consumers. In 2024, the market revenue for Online Sales is projected to be $15694 million USD, representing 13.16% of the total market share.
Others include other applications such as institutional sales, foodservice providers, and direct-to-consumer sales. In 2024, the market revenue for Others is projected to be $9998 million USD, accounting for 8.13% of the total market share.
Table Global Canned Food Market Size by Application in 2024
Application | Market Size (M USD) 2024 |
Supermarkets/Hypermarkets | 54620 |
Independent Retailers | 35782 |
Convenience Stores | 7674 |
Online Sales | 15694 |
Others | 9998 |
6. Global Canned Food Market by Top Regions
North America remains a dominant player in the global canned food market, with a revenue of $44,189 million in 2024. This region’s strong market position is attributed to its high per capita consumption of canned foods, driven by busy lifestyles and a preference for ready-to-eat products.
Europe is another significant market, with a revenue of $45,799 million in 2024. Europe’s market is diverse, with strong demand for canned foods in countries such as Germany, the UK, and France.
Asia-Pacific is the fastest-growing region in the canned food market, with a revenue of $26,172 million in 2024.
Latin America has a market revenue of $4,454 million in 2024. The region’s market is characterized by strong demand for canned fruits, vegetables, and seafood, particularly in countries such as Brazil and Mexico.
Middle East and Africa have a combined market revenue of $3,155 million in 2024. This region’s market is characterized by a growing demand for imported canned foods, particularly in countries with limited domestic production capabilities.
Figure Global Canned Food Market Size by Region in 2024
7. Global Canned Food Market Analysis by Major Players
7.1 Conagra Brands
Introduction and Business Overview: Conagra Brands is a leading North American food company, known for its diverse portfolio of branded food products. Established in 1919, the company is headquartered in Chicago and operates in markets worldwide. Conagra Brands is committed to innovation and sustainability, focusing on delivering high-quality, convenient food options to consumers.
Products Offered: Conagra Brands offers a wide range of canned food products, including soups, vegetables, and meats. Some of their popular brands include Birds Eye, Marie Callender’s, and Healthy Choice. The company is also known for its plant-based and organic products, catering to the growing demand for health-conscious food options.
Sales Revenue in 2022: In 2022, Conagra Brands reported a sales revenue of $3,453 million in the canned food segment. This revenue is driven by strong consumer demand for their branded products and the company’s focus on innovation and product diversification.
7.2 Campbell Soup
Introduction and Business Overview: Campbell Soup is a global food company with a strong presence in the canned food market. Established in 1869, the company is headquartered in Camden, New Jersey. Campbell Soup is known for its iconic brands, including Campbell’s Soup, Prego pasta sauces, and Swanson broth. The company focuses on delivering high-quality, convenient food products to consumers worldwide.
Products Offered: Campbell Soup offers a wide range of canned food products, including soups, pasta sauces, and broths. Some of their popular products include Campbell’s Condensed Tomato Soup and Prego Traditional Pasta Sauce. The company is also known for its innovation in product development, with a focus on health and wellness.
Sales Revenue in 2022: In 2022, Campbell Soup reported a sales revenue of $3,031 million in the canned food segment. This revenue is driven by strong brand recognition and the company’s focus on delivering high-quality, convenient food options to consumers.
7.3 Kraft Heinz
Introduction and Business Overview: Kraft Heinz is a global food and beverage company with a diverse portfolio of products. Established in 2015, the company is headquartered in Chicago and operates in markets worldwide. Kraft Heinz is known for its iconic brands, including Heinz ketchup, Kraft cheese, and Planters nuts. The company focuses on delivering high-quality, convenient food products to consumers, with a strong emphasis on innovation and sustainability.
Products Offered: Kraft Heinz offers a wide range of canned food products, including ketchup, mustard, and canned vegetables. Some of their popular brands include Heinz Beanz and Kraft Macaroni & Cheese. The company is also known for its innovation in product development, with a focus on health and wellness.
Sales Revenue in 2022: In 2022, Kraft Heinz reported a sales revenue of $2,729 million in the canned food segment. This revenue is driven by strong brand recognition and the company’s focus on delivering high-quality, convenient food options to consumers.