Portland, July 13, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Canned Lamb Market by End User (Human and Animal), and Distribution Channel (Supermarkets/hypermarkets, Convenience Stores, Independent Retailers, and Online): Global Opportunity Analysis and Industry Forecast, 2023–2032.". According to the report, the global canned lamb market was valued at $1,578.0 million in 2022, and is projected to reach $2,360.8 million by 2032, registering a CAGR of 4.1% from 2023 to 2032.
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Prime determinants of growth
Technological advancements such as cold storage technology are boosting the growth of the global canned lamb market during the forecast period. However, one of the main restraints of canned lambs is the limited availability of lambs. On the other hand, the growing preference for organic meat is creating lucrative opportunities for market growth.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | $1,578.0 million |
| Market Size in 2032 | $2,360.8 million |
| CAGR | 4.1% |
| No. of Pages in Report | 250 |
| Segments covered | End User, Distribution Channel, and Region. |
| Drivers | Technological advancements facilitate transportation Growing penetration of retail chains in emerging markets |
| Opportunities | Growing preference for organic meat Use of blockchain technology is trending |
| Restraints | Processed meat is carcinogenic Limited Availability |
The animal segment to maintain its leadership status throughout the forecast period
By end user, the animal segment held the highest market share in 2022, accounting for more than three-fifths of the global canned lamb market revenue and is estimated to maintain its leadership status throughout the forecast period. This segment showcases the fastest CAGR of 4.5% during the forecast period. Lamb meat has various advantages for animals as it is a great source of iron, is a great source of protein, and contains omega-3 fatty acids. Furthermore, it contains the right amount of dietary fat and zinc which helps in boosting the dog’s immune system.
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The supermarkets and hypermarkets segment to maintain its leadership status throughout the forecast period
By distribution channel, the supermarkets and hypermarkets segment held the highest market share in 2022, accounting for more than two-fifths of the global canned lamb market share and is estimated to maintain its leadership status throughout the forecast period. Supermarket and hypermarket is gaining popularity due to the availability of a broad range of consumer goods and food & beverages under a single roof, in addition to ample parking space and convenient operation timings. The online segment would showcase the fastest CAGR of 4.5% during the forecast period. The online segment is expected to grow at a significant rate during the forecast period, owing to the various advantages being provided by it such as convenience, a wide range of products, and competitive pricing.
North America to maintain its dominance by 2032
By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global canned lamb market share and is likely to dominate the market during the forecast period. The demand for meat products in North America has significantly increased due to the growing consumer interest in healthy living, and also because meat is one of the main sources of iron, zinc, and other important minerals. However, Asia-Pacific is expected to witness the fastest CAGR of 6.2% from 2023 to 2032. Consumers in Asia Pacific prefer to consume fresh food products such as fresh meat than packaged products. The demand for these products in China, Indonesia, Malaysia, and Thailand is increasing significantly.
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Leading Market Players: -
- Calibra
- Earth Paws Private Limited
- Evangers Dog and Cat Food Company, Inc
- Fortan GmbH And Co. KG.
- FountainVest, Fromm Family Foods, LLC.
- Hound And Gatos
- LemonSalt
- Leos Pet Her Hakk Sakldr
- MREdepot.com
- Muhubrands.com
- SmartHeart Malaysia
- Stahly Quality Foods
- Treats Unleashed
- Wellness Pet Company, Inc.
The report provides a detailed analysis of these key players in the global canned lamb market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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