LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global canned food market report. This research report also lists 13 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The canned food industry is subject to rapidly changing consumer demands and preferences. Vendor performance in the global canned food market can be affected by changing consumer spending patterns. It may also be affected by consumer tastes, demographic trends, and regional, national, and local economic conditions. The changing economic conditions are affecting customers’ living standards and can also affect vendors' businesses. The market is highly fragmented because of the presence of numerous small and large vendors. The vendors in the market compete on the basis of many factors such as price, quality, innovation, service, reputation, and promotion.
The increase in vendor competition may lead to vendors reducing their prices, which could negatively affect vendor margins and market growth. The current market includes companies of varying sizes; some are also more specialized than others with respect to particular commodities. Some companies also have larger financial resources than other companies.
According to Vijay Sarathi, a lead analyst at Technavio for food, “Intense competition among vendors, coupled with rapid technological changes, constitutes significant risk factors to vendor operations. Therefore, to survive and succeed in this competitive environment, it becomes imperative for vendors in the market to distinguish their product and service offerings through a clear and unique value proposition.”
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Top five canned food market vendors
Bolton Group, founded in 1949, is headquartered in Amsterdam, the Netherlands. It is a fast-growing international company that manufactures and markets a broad range of high-quality branded consumer goods globally. The company is located in Dubai, Thailand, and Europe. Some of the subsidiaries of the company are Bolton Austria, Bolton Belgium, Bolton Croatia, Bolton Manitoba, Bolton Polska, Bolton Solitaire, and Rogé Cavaillès.
Saupiquet, a canned fish brand of the company, obtained ISO 9001 certification in November 2014. This certification guarantees high quality standards in the manufacturing and processing of products.
ConAgra Foods was established in 1919 and is headquartered in Omaha, Nebraska, US. The company is a North America-based food company that manufactures and markets branded foods for various markets. As of May 25, 2014, the company generated revenue of USD 17.7 billion and invested USD 103.5 million in R&D. It has 32,800 employees.
Del Monte Foods
Del Monte Foods was founded in 1886 and is headquartered in Walnut Creek, California, US. It is a leading manufacturer and supplier of packaged food products. Its branded products include Del Monte, Contadina, College Inn, and S&W. In 2013, the company sold its canned food business to Del Monte Pacific.
The company aims to create brand value propositions with portfolios, brand investment, and innovation. It plans to expand into other markets and regions through strategic collaborations with distributors.
Hormel Foods was founded in 1891 and is headquartered in Austin, Minnesota, US. The company produces and markets consumer-branded food and meat products. As of October 2014, the company had 20,400 employees. The company's revenue was USD 9.31 billion in 2014, and the company invested USD 29.9 million in R&D in the same year.
The company operates through five business segments: refrigerated foods, Jennie-O turkey store, grocery products, specialty foods, and international and other. The company, apart from operating in the US, conducts business worldwide through joint ventures, licensees, subsidiaries, and the direct sales of products exported from the US to different countries.
Kraft Heinz is headquartered in Pittsburgh, Pennsylvania, US. The company holds the third position in the food and beverages market in North America and is fifth largest in the global market. The company produces and sells food and beverage products including cheeses, meats, refreshments beverages, coffees, and packaged dinners. In FY2014, the company's total net revenue was USD 18.2 billion. In FY2014, the company had 22,100 employees, out of which 20,100 employees were located in the US and 2,000 in Canada.
Browse Related Reports:
- Global Juice Market 2015-2019
- Canned Food Market in the US 2015-2019
- Global Processed Snacks Market 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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