Rockville, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, reveals that global demand for canned fruits is projected to increase at a CAGR of 2% and reach a market valuation of US$ 12 billion by 2032.
Fruits are one of the most popular and versatile foods around the world. They also represent a crucial part of our diet and help promote health. These food products can improve the health and diet quality of consumers who eat them on a regular basis. However, due to the seasonality of many fruits, they are widely consumed in the processed form, which is likely to stimulate the demand for canned fruits over the coming years.
Advancements in the techniques of transportation and refrigeration have made it easier to ship lower shelf-life and perishable products from one location to another. An effective distribution channel with more controlled and efficient operating systems has enabled the handling and storage of canned fruits for a longer duration in recent years.
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At present, there has been a noticeable increase in the demand for different canned fruits, especially across the bakery industry. Rising requirement for these products is attributed to the ability of fruit bits to absorb syrup that further provides an undoubtedly sweet and fresh taste as compared to fresh fruit pieces that sometimes turn out to be bitter.
A specific environment is required for the storage of canned fruits. Moreover, if these fruits are exposed to incompatible conditions, some unwanted complications occur. These situations mostly happen if the stored contents are not consumed within a shorter duration after opening the can. Nevertheless, secondary plastic lids are generally considered an effective remedy against enzymatic reactions that can lead to spoilage of the product.
Key Takeaways from Market Study
- Worldwide demand for canned fruits is likely to increase at a CAGR of 2% through 2032.
- The U.S. canned fruits market reached US$ 3.1 billion at the end of 2021.
- Canned mixed fruit is projected to progress at a CAGR of 2% through the forecast period.
- Sales of canned fruits are estimated to reach US$ 12 billion by the end of 2032.
- The canned peaches segment is estimated to reach a valuation of US$ 3.4 billion by the end of 2032.
“Increasing consumer inclination towards organic and healthy food along with escalating requirement for clean label products are likely to foster canned fruits market growth,” says a Fact.MR analyst
Canned food consumption is expected to remain high in the U.S.
The value of the canned fruits market in the U.S. has reached $3 billion by the end of 2021. This significant growth in the market is accounted for by the increasing consumption of canned fruits and vegetables by consumers thanks to busy lifestyles and growing preference for processed food items.
Japan and Canada are also prominent markets and make healthy gains at 2.2 % and 3.3 % annually.
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Winning Strategy
Key players dealing in the global canned fruits market are focusing on R&D activities to bring innovation to their products. These players are also taking efforts to improve their production capabilities.
For instance,
- The U.S. Department of Agriculture (USDA) in March 2020 announced its plans to invest $25 million in peaches and canned mixed fruit in order to contribute to a lot of food nutrition assistance programs.
Key Companies Profiled
- CLOUET & CO (KL) SDN. BHD
- Del Monte Food, Inc.
- CHB Group
- Rhodes Food Group Holdings Ltd.
- Golden Circle
Segmentation of Canned Fruits Industry Research
- By Product:
- Canned Peaches
- Canned Mixed Fruits
- Canned Pineapples
- Canned Citrus Fruits
- Canned Pears
- Other Products
- By Distribution Channel:
- Supermarkets/Hypermarkets
- Independent Retailers
- Convenience Stores
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global canned fruits market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights into the market on the basis of product type (canned peaches, canned mixed fruits, canned pineapples, canned citrus fruits, canned pears, other products) and distribution channel (supermarkets/hypermarkets, independent retailers, convenience stores), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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Canned Dog Food Market: A recent study by Fact.MR on the canned dog food market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of canned dog food.
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Packaged Fresh Fruits Market: The global packaged fresh fruits market accounted for US$ 11.6 Bn in 2021, and is expected to witness a prominent growth rate at a CAGR of 5.5% through 2031. Since pineapples have a wide variety of uses, packaged pineapples hold a high market share of more than 21%. Overall, the packaged fresh fruits market is set to expand 1.7X over the next ten years.
Cold Pressed Oil Market: The cold pressed oil market is projected to grow steadily at a 5.9% value CAGR, during the forecast period 2022-2032. Earlier in 2021, this market was projected to have a global market valuation worth US$ 28 Billion and is expected to reach a sum of US$ 52.60 Billion by 2032.
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