NEWARK, Del, Aug. 30, 2022 (GLOBE NEWSWIRE) -- NEWARK, Del: The global canned meat market is projected to grow from US$ 12.8 Bn in 2022 to US$ 24.2 Bn by 2032, accelerating at a CAGR of 6.6% throughout the forecast period.
Rising popularity of canned meat products due to their easy storage, less cost, and increased shelf life along with increasing consumer spending on convenient and processed food products is providing a major impetus to the market growth.
Canned meat is making a comeback as a trendy, convenient, and affordable source of protein. Its popularity is being driven by a number of factors including the growing interest in healthy eating, increasing number of people who are interested in cooking from scratch, and rising cost of fresh meat.
Canned meat is a great option for those who want to cook from scratch but don't have a lot of time or cooking experience. It's also a good choice for people who are on a budget. Canned meats are typically less expensive than fresh meat, and they last for a long time in the pantry.
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There are a variety of canned meats to choose from, including tuna, salmon, chicken, beef, and pork. Most canned meats are low in fat and calories, and they're an excellent source of protein.
Canned chicken is becoming a popular trend for those looking for an easy and affordable way to cook a healthy meal. It can be found in most grocery stores, and the price is often comparable to that of other packaged meats.
Canned beef is the latest trend in the food industry. It is a convenient way to have a meal without having to prepare it yourself. Canned beef can be used in a variety of dishes, including stews, tacos, and burgers. It is also a healthy option, as it is high in protein and low in fat.
Key Takeaways from Market Study
- By meat type, poultry category accounted for more than 41% of worldwide revenue in 2020.
- Based on distribution channel, the supermarket & hypermarket segment accounted for more than 40% of total sales in 2021.
- North America will continue to dominate the global canned meat market during the forecast period.
- With a market valuation of US$ 3.9 Bn, Europe is predicted to have the second-largest market share, accounting for 31% of the total market value.
- Demand for canned meat is poised to grow at a healthy pace across the U.S. during the assessment period.
“Leading brands of canned meat are integrating advanced technologies for manufacturing a variety of canned products and increasing their overall productivity,” says a Future Market Insights analyst.
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Who is winning?
Some of the important players operating in the canned meat market are JBS, Hormel Foods Corp., Tyson Foods, Inc., Wild Planet Foods, Bolton Group, Vion Food Group, Mundella Foods, Campbell Soup Company, Smithfield Foods, Valleyfresh Global.
These leading players are constantly focusing on introducing new canned meat products into the market at affordable prices to improve their customer base. Besides this, they are integrating advanced manufacturing technologies to produce better quality products at faster speeds. For instance,
- In February 2020, Bordon launched two different varieties of corned meat.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global canned meat market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on Type (Canned meat product, Canned fish/ Seafood, Canned Vegetables, Canned Fruits, Others), Sales Channel (Offline Sales Channel (Supermarkets/Hypermarkets, Departmental Stores, Convenience Store, Other Sales Channel), Online Sales Channel (Company Website, E-commerce Platform), Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA)
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Explore FMI’s related ongoing Coverage on Food and Beverage Domain
Canned Vegetables Market Size: Canned vegetables market is expected to reach a market valuation of US$ 22.5 Bn by the year 2022, accelerating at a CAGR of 3.9% over the forecast period (2022-2032).
Canned Sardines Market Share: Canned Sardines market is valued at USD 7.1 Bn in 2022 and is projected to grow at a CAGR of 7.6% during the forecast period, to reach a value of USD 14.8 Bn by 2032.
Canned Seafood Market Trends: Canned Seafood Market are estimated to be valued at US$ 36.8 Bn in 2022.
Canned Soup Market Growth: Canned soup market is expected to reach market valuation of US$ 2.8 Bn by 2022, exhibiting growth at a CAGR of 6.6% during the forecast period (2022-2032)
Meat Snacks Market Analysis: Meat snacks market is expected to reach a market valuation of US$ 10.1Bn by 2022, accelerating with a CAGR of 7.7% between 2022 and 2032, surpassing US$ 21.3 Bn by 2032.
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