Dublin, Sept. 22, 2023 (GLOBE NEWSWIRE) -- The "Canned Fruits Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The Canned Fruits Market is on a trajectory of steady growth, with projections indicating an increase from USD 10.46 billion in 2023 to a forecasted USD 12.93 billion by 2028. This growth reflects a Compound Annual Growth Rate (CAGR) of 4.34% during the forecast period spanning 2023 to 2028.
Key Highlights of the Canned Fruits Market:
- Advanced Canning Technology: Technological advancements in canning play a pivotal role in driving market growth. Increased investment in research and development has led to the production of healthier food options, enhanced "Nutri-score" labeling, and an expanded range of convenient products. The global distribution network for canned goods is also evolving, further contributing to market expansion. This growth is attributed to the prolonged shelf life of canned products.
- Price Sensitivity: Price sensitivity significantly influences consumer spending on food items, shaping trends in the food marketing industry. Individuals with lower incomes often shop at cost-effective outlets and opt for more affordable food choices. Private-label manufacturers have a strong presence in this segment as their products typically come at more competitive prices than those of branded or larger players. Such cost-effective canned goods have traditionally been readily available in supermarkets and other retail stores, leading to increased sales through mass-market outlets.
- Storage Challenges and Solutions: Canned fruits require specific storage conditions, and issues can arise if the product is exposed to unfavorable environments. Spoilage due to enzymatic reactions can occur if the contents are not consumed promptly after opening. To address this, secondary plastic lids are being explored as a solution to mitigate such issues.
Canned Fruits Market Trends:
- Preference for Fresh and Convenient Options: Consumer preference for fresh and minimally processed fruits has had a notable impact on the canned fruit market. Major brand manufacturers are responding by introducing minimally processed fruits as extensions of their canned fruit product lines. They are also repositioning and repackaging their products accordingly. Bulk cans of fruit are being introduced to cater to this trend, with distribution through mass merchandisers and low-cost food retailers.
- Promoting Canned Fruits as Healthy Snacks: Manufacturers are working to position canned fruits as a healthy snack option, emphasizing their low-sugar content and safety. Consumer awareness of the nutritional benefits and convenience of canned fruits is expected to drive growth, especially since only 10% of adults meet their daily fruit and vegetable consumption due to various factors such as cost, availability, and perceived lack of preparation time.
- Rapid Progress in Asia Pacific: The Asia Pacific region is experiencing significant growth in the canned fruits market, driven by the region's changing lifestyle and increasing population. A fast-paced lifestyle and rising demand for ready-to-eat foods are fueling the need for healthier solutions with extended shelf life. Canned fruits are gaining popularity for their ease of use and readiness. China's burgeoning food industry is driving demand for canned fruits across various applications. India is also witnessing a surge in demand, particularly in the bakery industry, where canned fruit pieces with absorbed syrup offer a fresh and sweet taste compared to fresh fruit pieces.
Canned Fruits Industry Overview:
- Emphasis on Food Safety: Ensuring food safety remains a top priority for every company in the canned fruits market. Leading players are committed to delivering the freshest, safest, and highest-quality fruits to customers. The adoption of cutting-edge technology, such as optical color and laser sorters, custom-designed processing lines, high-speed packaging lines, and on-site freezing and frozen storage, has facilitated more efficient fruit processing. Key players in the market include Dole Food Company, Del Monte Food Inc., Rhodes Food Group, and Kraft Heinz Company, all of whom employ various strategies for market expansion.
The global canned fruits market is poised for steady growth, driven by technological advancements, changing consumer preferences, and expanding opportunities in the Asia Pacific region. Industry leaders are committed to ensuring the highest standards of food safety while adopting innovative technologies to enhance fruit processing.
A selection of companies mentioned in this report includes
- Dole PLC
- The Kraft Heinz Company
- Del Monte Food Inc.
- Rhodes Food Group
- Roland Foods
- Seneca Foods
- Xiamen Gulong Group Co., Ltd
- Kangfa Foods
- CHB Group
- Delicia Foods India Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/f52f9h
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