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The Canned Meat market is influenced by a variety of market factors that collectively contribute to its dynamics and growth. One primary driver of this market is the convenience and long shelf life offered by canned meat products. In an era where time is a precious commodity for many consumers, the ease of preparing a quick meal with canned meat has contributed significantly to the sustained demand for such products. Canned meat's portability and extended shelf life also make it an attractive option for outdoor activities, emergencies, and situations where fresh meat may not be readily available.
Economic factors play a crucial role in shaping the Canned Meat market. Affordability and cost-effectiveness are key considerations for consumers, particularly during economic fluctuations. Canned meat, with its relatively lower price point compared to fresh meat, becomes an appealing choice for budget-conscious consumers. Additionally, economic stability influences consumers' purchasing power, affecting their willingness to spend on convenience foods like canned meat.
Changing consumer demographics and lifestyles contribute to the market dynamics. As urbanization and busy schedules become more prevalent, there is an increasing demand for ready-to-eat and easy-to-prepare meal options. Canned meat fits into this lifestyle, offering a quick and convenient protein source for individuals and families alike. Moreover, as more people embrace on-the-go lifestyles, the demand for portable and easily accessible food products, such as canned meat, continues to rise.
Government regulations and food safety standards are paramount factors in the Canned Meat market. Strict regulations ensure the quality, safety, and proper labeling of canned meat products. Compliance with these standards is crucial for companies to build and maintain consumer trust. Any lapses in quality or safety could have severe consequences for a brand and the overall market, emphasizing the importance of adherence to regulatory guidelines.
Cultural preferences and dietary habits also impact the Canned Meat market. In regions where meat is a dietary staple, canned meat provides a convenient and reliable source of protein. Additionally, cultural acceptance of canned meat products influences their market penetration. Understanding and catering to specific preferences, tastes, and culinary traditions are essential for companies seeking success in diverse markets.
Environmental considerations and sustainability have gained prominence in recent years, influencing consumer choices and market trends. While the production and packaging of canned meat have traditionally raised environmental concerns, some companies are adopting more sustainable practices. The development of eco-friendly packaging and sourcing methods that prioritize environmental responsibility can contribute to a positive brand image and address consumer concerns about the ecological impact of canned meat production.
Competitive factors, including branding, marketing strategies, and product innovation, are crucial for companies in the Canned Meat market. Differentiation in terms of flavors, packaging, and nutritional profiles can give companies a competitive edge. Effective marketing campaigns that highlight the convenience, nutritional value, and versatility of canned meat products also play a significant role in influencing consumer preferences.
Challenges within the Canned Meat market include consumer perceptions about the quality and taste of canned meat, as well as concerns about preservatives and additives. Overcoming these challenges requires continuous efforts in product improvement, transparent communication, and education about the benefits of canned meat products.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 2.40% (2024-2032) |
Canned Meat Market Highlights:
Global Canned Meat Market Overview
Canned Meat Market Size was valued at USD 11.5 billion in 2023. The Canned Meat industry is projected to grow from USD 11.776 Billion in 2024 to USD 13.576 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.40% during the forecast period (2024 - 2032). For people who are busy and want something quick to prepare and eat. Canned meat is quickly sold and eaten these are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Canned Meat Market Trends
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Increase in demand for prepared meat & seafood to boost market growth
Many drivers of Market Growth influence the present Canned Meat Market. For example, people in urban regions opting for canned alternatives to fresh meat are a significant driver of Market Growth. A busy lifestyle in urban regions and its pace has prompted citizens to opt for quickly made food alternatives. Since canned meat is a good source of protein and is ready to eat, people prefer to eat it more. The demand for canned meat items in urban and semi-urban areas is a significant driver of the Canned Meat Market because of its convenience and affordability. The Market accounted for nearly one-third of the primary canned food market in 2018, indicating the prolonged popularity of canned meat. For the expansion of Market Size, there are numerous market chances. The increased public knowledge of the advantages of canned meat represents one of the key business prospects. Consumers are becoming more aware of the ease of eating beef from a can and the nutritional benefits it brings to the table. The myth that canned meat is unhealthy and shouldn't be consumed frequently is dissipating. As a result, more individuals are willing to try meat in a can. Sales will increase during the market forecast period due to this rising awareness trend.
Therefore, canned meat is easily sold and eaten. For people who are busy and want something quick to prepare and eat the canned meat which enhanced the market CAGR across the globe in the recent years.
However, Canned meat is a major sector of the processed food industry as people worldwide eat canned meat from time-to-time factor driving the growth of the Canned Meat market revenue.
Canned Meat Market Segment Insights
Canned Meat Type Insights
The Canned Meat market segmentation, based on By Type, includes Pork, Poultry, Beef, Seafood, Others. The pork Canned Meat segment held the majority share in 2022 contribution in respect to the Canned Meat market revenue. The pork segment will also see the highest individual growth rate in the Market forecast period. For the expansion of Market Size, there are numerous market chances. The increased public knowledge of the advantages of canned meat represents one of the key business prospects. Consumers are becoming more aware of the ease of eating beef from a can and the nutritional benefits it brings to the table. The myth that canned meat is unhealthy and shouldn't be consumed frequently is dissipating. As a result, more individuals are willing to try meat in a can. Sales will increase during the market forecast period due to this rising awareness trend.
December 2021: Tyson Foods Inc. planned to spend more than $1.3 billion to increase automation in meat plants over the next three years. This will help the company grow and increase its production capacity.
August 2021: Bolton Group, an Italian manufacturer of consumer products, acquired Wild Planet Foods for an undisclosed amount. This acquisition strengthens Bolton Group by increasing its presence in the US tuna market, and both the companies will work together to develop a responsible supply chain of excellence. Wild Planet Foods is a US-based manufacturer of canned meat.
Figure 2: Canned Meat Market, by Type,2022& 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst ReviewCanned Meat by Distribution Channel Insights
Based on Distribution Channel, the Canned Meat industry has been segmented into Store-Based, Non-Store-Based. In 2022, the distribution channel category for supermarkets and hypermarkets dominated the market and contributed more than 40% of total revenue. By offering a variety of items, supermarkets, and hypermarkets are one of the major distributors of Canned Meat industry. As a result, more consumers worldwide are drawn to this distribution channel.
October 2021 : The Better Meat Co., a US-based food processing company, joined forces with Hormel Foods Corporation, a canning company. Using The Better Meat Co.'s ground-breaking Rhiza mycoprotein component, the two businesses will collaborate to create the next generation of delicious, healthy, and sustainable alternative protein products.
May 2021: Tyson Foods, a US-based manufacturer and distributor of canned meat, joined forces with Dada Group, a China-based on-demand delivery and retail platform. Thanks to this agreement, Data Group will take the lead in China's on-demand retail market for the fresh meat category.
Canned Meat Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Canned Meat market accounted for USD 11.5 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to people who are busy and want something quick to prepare and eat. Canned meat is quickly sold and eaten across the region.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CANNED MEATMARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Canned Meat market accounts for the second-largest market share due to the availability of the increased public knowledge of the advantages of canned meat represents one of the key business prospects. Consumers are becoming more aware of the ease of eating beef from a can and the nutritional benefits it brings to the table. Further, the Germany Canned Meat market held the largest market share, and the UK Canned Meat market was the fastest growing market in the European region
The Asia-Pacific Canned Meat Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to development in the food processing industry, increasing regional product demand. Moreover, China Canned Meat market held the largest market share, and the Japan Canned Meat market was the fastest growing market in the Asia-Pacific region
For instance, India Canned Meat market is also booming due to the development in the food processing industry, increasing regional product demand. Hence, Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2022–2030.
Canned Meat Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Canned Meat market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Canned Meat industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the Canned Meat industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Canned Meat industry has Changing lifestyles and tastes of consumers along with demographic growth are driving the food processing industry significant benefits. The Canned Meat market major player such as American Tuna, Inc. (US), Wild Planet Foods (US), Bumble Bee Seafoods (US), Maruha Nichiro Corporation. (Japan), Vion Food Group (Netherlands), Hormel Foods Corporation (US), JBS (Brazil), Meat Maniac (US), Premium Iowa Pork (US), Nordic Seafood A/S (Denmark), and others are working to expand the market demand by investing in research and development activities.
The Bolton Group is an Italian conglomerate that sells products under more than fifty brands. Bolton Group is a multinational company that has been producing and distributing a wide range of innovative, sustainable and high-quality branded consumer products. Bolton Group, an Italian manufacturer of consumer products, acquired Wild Planet Foods for an undisclosed amount. This acquisition strengthens Bolton Group by increasing its presence in the US tuna market, and both the companies will work together to develop a responsible supply chain of excellence. Wild Planet Foods is a US-based manufacturer of canned meat
Tyson Foods, Inc. is an American multinational corporation, based in Springdale, Arkansas, that operates in the food industry. The company is the world's second-largest processor and marketer of chicken, beef, and pork after JBS S.A. It annually exports the most significant percentage of beef out of the United States. Tyson Foods, a US-based manufacturer and distributor of canned meat, joined forces with Dada Group, a China-based on-demand delivery and retail platform. Thanks to this agreement, Data Group.
Key Companies in the Canned Meat market includes
- American Tuna Inc.
- Wild Planet Foods
- Bumble Bee Seafoods
- Maruha Nichiro Corporation.
- Vion Food Group
Canned Meat Industry Developments
October 2021: The Better Meat Co., a US-based food processing company, joined forces with Hormel Foods Corporation, a canning company. Using The Better Meat Co.'s ground-breaking Rhiza mycoprotein component, the two businesses will collaborate to create the next generation of delicious, healthy, and sustainable alternative protein products.
May 2021: Tyson Foods, a US-based manufacturer and distributor of canned meat, joined forces with Dada Group, a China-based on-demand delivery and retail platform. Thanks to this agreement, Data Group will take the lead in China's on-demand retail market for the fresh meat category.
Canned Meat Market Segmentation
Canned Meat Type Outlook
- Pork
- Poultry
- Beef
- Seafood
- Others
Canned Meat By Distribution Channel Outlook
- Store-Based
- Non-Store-Based
Canned Meat Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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