LONDON--(BUSINESS WIRE)--The global canned food market size is expected to grow by USD 19.52 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 4%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on "Canned Food Market Analysis Report by Product (Canned fish and seafood, Canned vegetables, Canned meat, Canned ready meals, and Others) and Geography (Europe, North America, APAC, MEA, and South America), and the Segment Forecasts, 2020-2024".
The market is driven by new product launches. In addition, the rising demand for convenience food is anticipated to boost the growth of the Canned Food Market.
New and innovative products, in line with the growing consumer demand, are driving the global canned food market. New product launches help vendors increase their sales and market share. For instance, in November 2019, Thai Union Group PCL (Thai Union) launched a new tuna product, SEALECT Tuna Fitt, in Thailand to attract health-conscious consumers. Similarly, in July 2019, Princes launched Mackerel Sizzle and Infused Tuna Fillets, two new fish-based product ranges. The products were launched by the company to extend the use of canned fish products into the evening meals of end-users.
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Major Five Canned Food Companies:
Bolton Group Srl
Bolton Group Srl offers various products such as food, household and laundry care; adhesives; personal care and wellbeing products; and beauty care products. The company offers canned food products through brands such as RIOmare, Palmera, and Isabel.
Campbell Soup Co.
Campbell Soup Co. has business operations under two segments: meals and beverages, and snacks. The company offers a wide range of canned soup products under brands such as Campbell's and Campbell's Chunky.
Conagra Brands Inc.
Conagra Brands Inc. operates its business through various segments, such as grocery and snacks, refrigerated and frozen, international, foodservice, pinnacle foods, and commercial foods. The company offers canned food products through brands such as Hunts, Chef Boyardee, and Healthy Choice.
Del Monte Pacific Ltd.
Del Monte Pacific Ltd. has business operations under various segments, such as packaged fruit and vegetable, beverage, culinary, and fresh fruits and others. The company offers canned vegetables and canned fruits such as tomatoes, corn, beans, peas, carrots, potatoes, spinach, mixed vegetables, peaches, mandarin oranges, mangoes, pears, pineapple, mixed fruit, and others through its Del Monte and S&W brands.
General Mills Inc.
General Mills Inc. operates its business through various segments, such as North America retail, convenience stores and foodservice, Europe and Australia, and Asia and Latin America. The company offers canned food products through brands such as Muir Glen and Progresso.
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Canned Food Product Outlook (Revenue, USD bn, 2020-2024)
- Canned fish and seafood
- Canned vegetables
- Canned meat
- Canned ready meals
Canned Food Regional Outlook (Revenue, USD bn, 2020-2024)
- North America
- South America
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