Market Overview
The canned vegetable market is expected to expand at a 3.84% CAGR between 2022 and 2030, increasing from USD 22.65 billion to USD 30.62 billion.
The outbreak of the COVID-19 pandemic has caused a positive trend in the consumption of canned food as more people turn to home cooking and retail purchases. The retail sector is one of the main points of sale for canned food, for which the demand has increased during the period of lockdown. The sales of canned food market products increased during the lockdown due to their long shelf life, which appealed to consumers who were subjected to home quarantines, regulatory measures restricting ease of movement, and other impacts of government lockdowns.
The global Canned Vegetable Market Insights is mainly driven by the rising urban population that prefers easy and convenient food and the demand for healthy food rich in protein, functional fibers, vitamins, and omega-3 fatty acids. The global target consumers willing to spend a little more for the products offering such properties coupled with the demand for small, easy, ready-to-cook meat and seafood and organic canned fruits and vegetables are thus, fueling the market sales. Furthermore, the rising awareness of the ills of plastic packaging, the demand for a sustainable solution, and increasing recycling rates globally have further driven the market.
There has been a rise in the number of food retail outlets with increasing urbanization, research development investments, and marketing strategies used by the players in the canned food market is expected to positively affect the overall revenue of the global canned food market.
Market Segmentation
Canned food is generally food that is packed in airtight containers. The global Canned Vegetable Market Outlook is segmented into canned meat products, canned fish/seafood, canned vegetables, canned fruits, and others. The market is segmented into supermarkets/hypermarkets, convenience stores, online retail channels, and other distribution channels based on distribution channels. The market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East Africa based on geography. The canned vegetable market report offers the market size and forecast in value (USD million) for all the above segments.
Regional Analysis
The Asia-Pacific region is the fastest-growing region in the global market of canned foods, especially canned meat, fish/seafood, and fruits. Countries like Japan, Korea, and China import canned crab meat in high quantities. For example, pasteurized crab meat is a prominent canned seafood product sold in Asia-Pacific countries after canned fish, like tuna. Furthermore, in countries, like India, the food manufacturers began to produce the most popular local foods, such as poha, upma, etc., in ready-to-eat cans. A wide number of local vegetarian food products, such as sterilized pav bhaji, curried Parata, and pulses that is dal is also being made available in ready-to-eat cans, which are certified by many local and international food security boards, such as Food Safety and Standards Authority of India (FSSAI), Brand Reputation through Compliance (BRC), and The Agricultural and Processed Food Products Export Development Authority (APEDA).
Industry News
Major players in the canned vegetable market include Del Monte Foods Inc., Conagra Brands Inc., Kraft Heinz Company, Campbell Soup Company, etc. Many companies that are a part of the canned food market are investing in product development by strengthening their RD initiatives for the long term. The key players have also focused on the sustainable production of canned food products to entice more consumers.
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