Canned Beef Market Overview
The Canned Beef Market Size was estimated at 4.78 (USD Billion) in 2022. The Canned Beef Market Industry is expected to grow from 5.04(USD Billion) in 2023 to 8.0 (USD Billion) by 2032. The Canned Beef Market CAGR (growth rate) is expected to be around 5.28% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Canned Beef Market Trends Highlighted
The development demand for canned beef markets is driven by, among other factors, the need for easy and long-lasting protein rich foods, especially in the developing regions of the world. Growing trends of urbanization coupled with the rise in consumption of ready-to-eat canned foods by such consumer segments owing to its Kitchen-Sink advantages amongst other advantages of affordability.
The canned beef market opportunities also lie in diversifying to newer geographical areas, especially in developing countries, where the growth in the consumption of canned foods is on the increase. As additional strategies, meeting the demand for high-end and organic canned beef products and flexibilities in the structure of packaging and channels of distribution offer a previously unutilized capacity.
Changes in dynamics in the canned beef market are mainly connected with the introduction of modern and healthier products to the latter, which has been witnessed owing to changing attitudes on eating habits. The trend of using natural ingredients and cutting the sodium content is quite popular among health-conscious consumers. Moreover, the adoption of green packaging and environmentally sustainable products is becoming crucial for market players.
Canned Beef Market Drivers
Rising Demand for Convenience Foods
Canned beef is a convenient and versatile food product that can be used in a variety of dishes. It is easy to store and transport and has a long shelf life. These factors are driving the demand for canned beef in both developed and developing countries. In developing countries, canned beef is often used as a source of protein in areas where fresh meat is not readily available. In developed countries, canned beef is popular among consumers who are looking for quick and easy meal options.The Canned Beef Market Industry is expected to witness significant growth in the coming years, owing to the rising demand for convenience foods. The growing popularity of canned beef as a convenient and affordable source of protein is a major factor driving the growth of the market. Additionally, the increasing number of working women and the rising disposable income are also contributing to the growth of the market. The Canned Beef Market Industry is expected to witness significant growth in the coming years, owing to the rising demand for convenience foods.
Growing Health Consciousness
Consumers are getting more health conscious and demanding food items that are low on fat and calories. Canned beef is a good and rich source of protein and iron and is relatively low in fat and calories. This is why canned beef is finding a large consumer base as a healthy and convenient option to consume. The Canned Beef Market Industry will witness increased growth in the coming years as the demand for healthy and convenient food options is on the rise.This demand is a major driving force behind the growth of the Canned Beef Market Industry. People are also getting more and more aware of the benefits of consuming canned beef, which is also a contributing factor to the growth.
Expansion of the Food Service Industry
The food service industry is rapidly growing and it has been significantly contributing to the demand for canned beef. Canned beef is an essential ingredient in a wide range of dishes. It is usually used in restaurants, cafes, and other food service establishments. The Canned Beef Market Industry is relatively expected to grow hugely due to the expansion of the market for the food service industry. The Canned Beef Market Industry is relatively growing and the expansion of restaurants, cafes, and other food service establishments is one of the factors that drive its growth. The high demand for canned beef in the food service industry is another factor to trigger its growth.
Canned Beef Market Segment Insights
Canned Beef Market Canned Beef Type Insights
The Canned Beef Type segment plays a crucial role in shaping the dynamics of the Canned Beef Market. In 2023, the Corned Beef sub-segment held a significant market share of around 35%, driven by its popularity in various cuisines worldwide. Roast Beef and Steak sub-segments collectively accounted for approximately 28% of the market, benefiting from their premium positioning and growing demand in the food service industry. Ground Beef, a versatile and affordable option, captured around 22% of the market share, primarily driven by its extensive use in home cooking and processed food products.The Others sub-segment, comprising a diverse range of canned beef products, contributed the remaining 15% to the overall market. The market outlook for Canned Beef Type appears promising, with projections indicating a steady growth trajectory in the coming years. Corned Beef is expected to maintain its dominance, driven by its versatility and strong consumer preference. Roast Beef and Steak sub-segments are anticipated to witness a moderate growth rate, influenced by rising consumer demand for premium canned meat products. Ground Beef is likely to continue its steady growth, supported by its affordability and convenience factor.The Others sub-segment is projected to expand at a slightly faster pace, driven by innovation and the introduction of new product variants. In terms of market size, the Canned Beef Type segment is expected to surpass USD 6.0 billion by 2028, exhibiting a CAGR of approximately 5.5% during the forecast period. This growth can be attributed to factors such as increasing urbanization, changing dietary patterns, and rising disposable incomes in emerging economies. The segment is also poised to benefit from advancements in packaging technology and the growing adoption of e-commerce platforms for food purchases.Overall, the Canned Beef Type segment presents a compelling growth opportunity for industry participants. With its diverse product offerings and growing consumer demand, the segment is poised to play a significant role in driving the expansion of the Canned Beef Market in the years to come.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Canned Beef Market Packaging Material Insights
The Canned Beef Market segmentation by Packaging Material includes Cans, Plastic Pouches, and Glass Jars. Among these, Cans held the dominant market share in 2023 and are projected to continue leading the market during the forecast period. This dominance is attributed to the wide availability, cost-effectiveness, and ability of cans to preserve the freshness and quality of canned beef for extended periods. Plastic Pouches are expected to witness the fastest growth in the coming years owing to their lightweight, flexible, and convenient packaging solutions.Glass Jars, on the other hand, offer a premium packaging option and are often preferred for specialty or gourmet canned beef products. The Canned Beef Market revenue from Cans is projected to reach USD 2.5 billion by 2024, growing at a CAGR of 5.5%. Plastic Pouches are expected to reach USD 1.5 billion by 2024, exhibiting a CAGR of 6.1%. Glass Jars are anticipated to register a CAGR of 4.8%, reaching USD 1.0 billion in revenue by 2024.
Canned Beef Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the Canned Beef Market by ensuring efficient product delivery to end-consumers. Hypermarkets/Supermarkets hold a significant share, accounting for around 30% of the market revenue in 2023. These large-scale retail stores offer a wide variety of canned beef products, providing convenience and accessibility to consumers. Convenience stores, with their smaller format and strategic locations, contribute to approximately 20% of the market share. Their proximity to residential areas makes them convenient for quick purchases.Online retailers, driven by the increasing adoption of e-commerce, are rapidly gaining market share. Their ability to offer a vast selection of products, competitive pricing, and home delivery services is expected to drive their growth to 15% of the market by 2026. Wholesalers/Distributors play a vital role in the supply chain by connecting manufacturers with retailers. They account for around 25% of the market share, ensuring the timely and efficient distribution of canned beef products to various distribution channels. Food service providers, including restaurants, hotels, and catering services, hold a share of approximately 10%, utilizing canned beef in their culinary preparations.The distribution channel segment is expected to witness substantial growth in the coming years, driven by the increasing demand for canned beef products and the expansion of distribution networks in emerging markets.
Canned Beef Market End-Use Insights
End-Use Segment Insights and Overview The Canned Beef Market segmentation by end-use into Household Consumption, Commercial Food Preparation, and Emergency Preparedness provides valuable insights into the target consumer base and their specific needs. Household Consumption, comprising individuals and families, remains the dominant segment, accounting for a significant share of the overall market. Convenience, affordability, and extended shelf life drive the demand for canned beef in households. In contrast, Commercial Food Preparation, including restaurants, catering services, and food processing industries, utilizes canned beef for its versatility and cost-effectiveness.Emergency Preparedness, encompassing government agencies and disaster relief organizations, stockpiles canned beef as a reliable food source during emergencies due to its long shelf life and ease of storage. As the market continues to grow, manufacturers are focusing on developing innovative products tailored to the unique requirements of each end-use segment to capture a larger market share.
Canned Beef Market Regional Insights
The Canned Beef Market segmentation by region is expected to have a significant impact on market growth. North America is expected to account for the largest share of the market, owing to the high consumption of canned beef in the region. Europe is expected to be the second-largest market, followed by APAC, South America, and MEA. The rising demand for convenience food and the growing popularity of canned beef in emerging markets are expected to drive the growth of the market in these regions.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Canned Beef Market Key Players And Competitive Insights
Major players in the Canned Beef Market industry are constantly striving to gain a competitive edge in the market. Leading Canned Beef Market players are focusing on developing innovative products, expanding their distribution channels, and acquiring smaller companies to strengthen their market position. The Canned Beef Market development is driven by factors such as rising demand for convenience food, increasing disposable income, and changing consumer preferences. The Canned Beef Market Competitive Landscape is characterized by the presence of both and regional players.Cargill is a leading company in the Canned Beef Market industry. The company has a strong presence and offers a wide range of canned beef products. Cargill is committed to providing high-quality products and services to its customers. The company has a strong focus on innovation and is constantly developing new products and technologies. Cargill is also investing in expanding its distribution channels to reach new markets.Hormel Foods is another major player in the Canned Beef Market industry. The company has a strong presence in the United States and is also expanding its international operations. Hormel Foods offers a wide range of canned beef products, including canned corned beef, canned chili, and canned hash. The company is committed to providing high-quality products and services to its customers. Hormel Foods has a strong focus on innovation and is constantly developing new products and technologies. The company is also investing in expanding its distribution channels to reach new markets.
Key Companies in the Canned Beef Market Include
- BRF S.A.
- Cargill
- Moy Park
- Triumph Foods
- JBS S.A.
- Nippon Ham Group
- Marfrig Foods
- Hormel Foods
- Kerry Group
- Smithfield Foods
- Tyson Foods
- Danish Crown
- Cofco Meat Holdings
Canned Beef Market Industry Developments
The canned beef market is projected to reach USD 8.0 billion by 2032, exhibiting a CAGR of 5.28% during the forecast period (2024-2032). The rising demand for shelf-stable and convenient protein sources, particularly in developing economies, is a primary growth driver. Moreover, increasing urbanization and changing consumer lifestyles are contributing to the market expansion. The canned beef market has witnessed recent developments, such as the launch of innovative packaging solutions and the expansion of online retail channels. Key players are focusing on product differentiation and sustainability initiatives to gain a competitive edge.
Canned Beef Market Segmentation Insights
Canned Beef Market Canned Beef Type Outlook
- Corned Beef
- Roast Beef
- Steak
- Ground Beef
- Others
Canned Beef Market Packaging Material Outlook
- Cans
- Plastic Pouches
- Glass Jars
Canned Beef Market Distribution Channel Outlook
- Hypermarkets/Supermarkets
- Convenience Stores
- Online Retailers
- Wholesalers/Distributors
- Food Service Providers
Canned Beef Market End-Use Outlook
- Household Consumption
- Commercial Food Preparation
- Emergency Preparedness
Canned Beef Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
4.78(USD Billion) |
| Market Size 2023 |
5.04(USD Billion) |
| Market Size 2032 |
8.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.28% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
BRF S.A., Cargill, Moy Park, Triumph Foods, JBS S.A., Nippon Ham Group, Marfrig Foods, Hormel Foods, Kerry Group, Smithfield Foods, Tyson Foods, Danish Crown, Cofco Meat Holdings |
| Segments Covered |
Canned Beef Type, Packaging Material, Distribution Channel, End-Use, Regional |
| Key Market Opportunities |
Ecommerce Expansion HealthConscious Consumers Rising Disposable Incomes Growing Demand from Emerging Economies |
| Key Market Dynamics |
Rising health consciousness Convenience and portability Increasing urbanization Technological advancements and Expansion of retail channels |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The canned beef market is anticipated to expand at a CAGR of 5.28% from 2024 to 2032.
The canned beef market is valued at approximately 5.04 billion U.S. dollars in 2023.
The canned beef market is projected to reach a valuation of 8.0 billion U.S. dollars by 2032.
North America is expected to dominate the canned beef market throughout the forecast period.
Increasing demand for convenient and shelf-stable protein sources, rising disposable income levels, and growing urbanization are driving the growth of the canned beef market.
The retail segment is expected to hold a significant market share due to the convenience and accessibility of canned beef in retail stores.
Tyson Foods, Cargill, JBS, Hormel Foods, and Smithfield Foods are among the key players in the canned beef market.
Fluctuating raw material prices, stringent regulations, and intense competition from alternative protein sources pose challenges to the canned beef industry.
The canned beef market is anticipated to witness increasing adoption of innovative packaging technologies and a growing emphasis on sustainability.
Expansion into emerging markets, product diversification, and collaborations with food service providers offer growth opportunities for the canned beef sector.
