NEWARK, Del, Aug. 30, 2022 (GLOBE NEWSWIRE) — NEWARK, Del: The global canned meat market is expected to grow from US$12.8 billion in 2022 to US$24.2 billion by 2032, accelerating at a CAGR of 6.6% throughout the forecast period .
The growing popularity of canned meat products due to their easy storage, lower cost and longer shelf life, as well as the increase in consumer spending on convenient and processed food products, is giving a major impetus to market growth.
Canned meat is making a comeback as a trendy, convenient and affordable source of protein. Its popularity is driven by a number of factors, including the growing interest in healthy eating, the growing number of people interested in cooking from scratch, and the 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 is also a good choice for people who are on a budget. Canned meats are generally less expensive than fresh meat and last 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 are 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’s 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 insights from market research
- By meat type, the poultry category accounted for over 41% of global revenue in 2020.
- Based on distribution channel, the supermarket and 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 billion, Europe is expected to hold the second largest market share, accounting for 31% of the total market value.
- Canned meat demand is expected to grow at a healthy pace in the United States over the assessment period.
“Leading canned meat brands are integrating advanced technologies to manufacture a variety of canned products and increase their overall productivity,” says an analyst from Future Market Insights.
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Who is winner?
Some of the significant 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 major players are constantly focusing on introducing new canned meat products in the market at affordable prices to improve their customer base. On top of that, they incorporate 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 unbiased analysis of the global canned meat market, presenting historical data (2017-2021) and estimation statistics for the forecast period 2022-2032.
The study offers compelling insights based on Type (Canned Meat Product, Canned Fish/Seafood, Canned Vegetables, Canned Fruit, Others), Sales Channel (Offline Sales Channel (Supermarkets/ hypermarkets, department 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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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market Context
3.1. Market dynamics
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Explore related ongoing IMF coverage at Food and drink Domain
Canned Vegetables Market Size: canned vegetable market expected to achieve a market valuation of $22.5 Bn by 2022, accelerating to a CAGR of 3.9% over the forecast period (2022-2032).
Market share of canned sardines: Canned sardines market is valued at $7.1 Bn in 2022 and is expected to grow at a CAGR of 7.6% during the forecast period, to reach a value of $14.8 Bn by 2032.
Canned Seafood Market Trends: canned seafood market are estimated at a value of $36.8 Bn in 2022.
Canned Soup Market Growth: canned soup market expected to achieve a market valuation of $2.8 Bn by 2022, growing at a CAGR of 6.6% during the forecast period (2022-2032)
Meat Snacks Market Analysis: meat snacks market expected to achieve a market valuation of US$10.1 billion by 2022, accelerating with a CAGR of 7.7% between 2022 and 2032, exceeding $21.3 Bn by 2032.
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