New York, US, March 20, 2023 (GLOBE NEWSWIRE) -- Canned Vegetable Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), Canned Vegetable Market Information By Type, Category, Distribution Channel, And Region - Forecast till 2030"; the market will achieve USD 30.62 Billion by 2030 at a 3.84% CAGR.
Market Synopsis
You might think of canning as food preservation that involves sterilizing and sealing food in sealed containers. Many canned items include fruits and vegetables, candies and desserts, cereals, sauces, pasta, stews, and beans. The use of canning contributes to the preservation of the veggies' nutritional content. Its expansion has been spurred by the rise in disposable income among consumers and the accessibility of high-quality goods. The e-commerce zones also show to be an effective strategy for growth. As canned veggies have already been washed, peeled, and diced, they may be eaten immediately, saving consumers time. The demand for canned veggies is anticipated to increase due to growing consumer awareness of their health benefits in various developing economies.
The market for canned vegetables will expand due to manufacturers' efforts to develop novel products that appeal to a wide client base. Thus, businesses use mergers and acquisitions to broaden their global reach and product offering. Also, several global market players are merging, acquiring, and deploying new technology to boost their commercial capability and capture a sizable revenue share. Additionally, the expansion of the distribution network for canned food products, the high shelf-life of canned vegetables, and improvements in canning technology as a result of increased expenditure on research and development of food processing processes and equipment are all anticipated to contribute to the growth of the canned vegetable market significantly.
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Report Scope:
Report Attribute | Details |
Market Size in 2030 | USD 30.62 Billion |
CAGR | 3.84% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Category, Distribution Channel, And Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Market Drivers | Growing Consumer Inclination towards Organic and Clean-label Foods |
wide availability of these organic canned products |
Market Competitive Landscape:
The notable companies in the canned vegetable market are:
- Hanover Foods Corp.
- Tropicana Products, Inc.
- Dole Food Company Inc.
- Nestlé, CHB Group
- Landec
- Del Monte Food, Inc
- Pinnacle Foods Inc.
- Welch's
- Shanghai Meilin Zhengguanghe Co., Ltd.
- The Kraft Heinz Company
- Bellisio Foods, Inc.
Market U.S.P. Covered:
Market Drivers:
Vegetables in cans are practical goods that help consumers meet their dietary demands. Together with healthful foods, customers are also interested in functional foods, which have health advantages and lower disease risks. The rise has assisted the growth of the canned food market in customer demand for prepared and ready-to-eat packaged foods from the North American region. Also, the market is growing due to more people going to work and spending less time cooking. These product categories are then sealed in an airtight tin or aluminum can after being handled in various ways, such as scraping, chopping, or cooking. The use of convenience food items has increased due to the quick lifestyle and rising working-age population.
The increased desire for quick and simple meals drives the need for wholesome food rich in useful fibers, protein, and vitamins. Concise, organic canned vegetables that cook quickly are in high consumer demand, boosting market sales. Due to a hectic lifestyle and an older population, convenience meals are in high demand. As a result, major producers are attempting to make canned veggies to increase their market share. Moreover, strategic actions taken by important firms have accelerated market expansion. The manufacturers' substantial R&D focus on providing the healthcare sector with the leading solutions is anticipated to positively impact the market for canned vegetables throughout the forecast period. Due to the alleged health advantages of organic products, the use of organic and clean-label goods has risen in industrialized economies. Consumption of organic and clean-label goods has risen significantly in many emerging nations, which also helps the market thrive.
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Market Restraints:
The expansion of the canned vegetables market over the forecast period may be constrained by the rigorous laws governing the use of components and additives in canned vegetables and the high costs associated with canning product packaging. The introduction of expensive metals alongside materials made of high-density polyethylene will present difficulties for the worldwide market.
COVID 19 Analysis
Customers are more likely to choose chemical-free, natural food goods, and their expanding understanding of product labels has positively affected the industry. Consumers prefer vegetables, fruits, and even meat products grown organically since they are healthier than traditionally grown. A significant component in the market expansion for tinned foods is the widespread availability of these organic canned goods and the rise in their consumption. Early pandemic days saw a considerable increase in market growth, which is anticipated to continue shortly.
Market Segmentation
By distribution channel, the market includes store-based and non-store-based. The market includes tomatoes, carrot, peas, corn, spinach, and vegetable blend by type. By category, the market includes organic and conventional.
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Regional Insights
Due to the region's growing need for sealed foods and enhanced security, Europe is predicted to hold most of the global market for canned veggies. The high degree of consumer knowledge, which will benefit consumers of canned vegetables in Europe, is another factor that will probably drive the expansion of the region's canned vegetable industry. The rise has assisted the growth of the canned food market in customer demand for fully prepared and ready-to-eat packaged foods from the North American region. Also, the market is growing due to more people going to work and spending less time cooking. The increased desire for quick and simple meals drives the need for wholesome food rich in useful fibers, protein, and vitamins.
Smaller, organic canned veggies that cook quickly are in high consumer demand, boosting market sales. During the projected period, the APAC region's growing capacity to manufacture in huge quantities will likely draw much attention to the local market. Also, the APAC region is increasing at the quickest rate in the global market for canned veggies. The primary cause of this is the increased demand for cans containing various foods, including fruits, vegetables, meat, fish, and shellfish. Canned crabs are in high demand from nations like Japan, China, and Korea, which will increase some markets' foreign revenue.
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