USD 94.1 billion
U.S. Canned Foods Market Size, Share, Growth Analysis, By Type(Seafood, Vegetables, Meat Products, Fruits), By Distribution Channel(Online and Offline (Supermarket/Hypermarket, Convenience Stores, Online retail channels)), By Region - Industry Forecast 2024-2031
Report ID:
SQMIC30I2391 |
Region:
Country |
Published Date: February, 2024
Pages:
157
|Tables:
65
|Figures:
75
U.S. Canned Foods Market Insights
U.S. Canned Foods Market size was valued at USD 94.1 billion in 2021 and is poised to grow from USD 95.2 billion in 2022 to USD 104.9 billion by 2030, growing at a CAGR of 1.3% in the forecast period (2023-2030).
The development of the industry is anticipated to be driven by improvements in distribution infrastructure, the resulting rise in demand for ready-to-eat food items, affordability of canned food, and shifting consumer lifestyles. The market indicates that there are big players buying smaller businesses, and these players cut prices as a result of the fierce competition. As a result of asset sales and higher fixed costs associated with automated processes, it has also been noted that the exit barriers for businesses that produce canned food are high, which has heightened competition among rivals.
An estimated USD 22.23 billion will be spent on American spending by 2026. Their consumption has increased in the United States as a result of the advantages of these foods and sustainable agricultural practices. Due to canned foods' many advantages, such as their simplicity of preparation and extended shelf life, the industry is expected to grow in the United States.
High volume and poor product margin are the fundamental features of the marketplace. With manufacturing companies sourcing their input from a wide range of suppliers, it is expected that the supplier power will be weak. With companies offering products for private customers, the retail sector is seen to be fragmented.
The U.S. FDA is required to receive reports from the businesses in the sector about the manufacturing procedures used to create canned food products. The sort of processes used in the production of canned food items, as well as the size & quality of containers used for packaging, are all governed by the authority granted by 21 CFR 108.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Online
Fastest Growth
Online
Growth Rate
1.3% CAGR
U.S. Canned Foods Market 2022-2030 ($ Bn)
Country Share for Northeast Region- 2022 (%)
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U.S. Canned Foods Market Segmental Analysis
U.S. Canned Foods Market is segmented based on Type, Distribution Channel and region. Based on Type the market is segmented into Seafood, Vegetables, Meat Products, Fruits, Ready Meals and Others. Based on Distribution Channel the market is segmented into Online and Offline (Supermarket/Hypermarket, Convenience Stores, Online retail channels). Based on the region, U.S. Canned Foods Market is segmented into Northeast, Midwest, South, West and Southwest.
Analysis by Type
The American industry offers a wide range of goods, including seafood, produce, meat products, fruits, ready meals, and others. Due to increasing consumer demand for convenient foods, wholesome foods high in protein, and increased public awareness, ready meals play a significant role in the expansion of the U.S. market. The market for vegetables has benefited from the greater mineral content displayed by products used to lower hypertension, osteoporosis, and other conditions. Vegetables are in great demand in the United States because they have a variety of nutritional advantages. Therefore, over the course of the forecast period, the sector is anticipated to grow at a CAGR of 4.0%.
Rising tuna consumption is anticipated to significantly influence market growth over the course of the forecast timeframe. But the tuna market is influenced by a variety of factors, including culture, tradition, consumer education, and consciousness. It is expected that some limitations on harvest sustainability will obstruct business growth. Demand for meat products is predicted to grow at a CAGR of 3.3% in terms of revenue over the forecast timeframe. The market for canned meat products is anticipated to grow gradually as a result of increasing demand in restaurants and fast-food outlets, as well as improved production techniques for harvesting, processing, and canning.
U.S. Canned Foods Services Market By Distribution Channel 2022(%)
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U.S. Canned Foods Market Regional Insights
The US canned food market is projected to expand at a CAGR of 3.9% during the forecast timeframe. The widespread consumption of canned foods in the United States can be attributed to two factors: improved processing techniques and increased customer awareness of the nutritional value of the products. The aquaculture method's technological advancement in the US is expected to greatly expand the market's potential in the near future. As opposed to the conventional way of harvesting wild fish, the aquaculture method is used for volume production. With sustainable feed materials like algae, the fish feed business has seen other technological advancements. The canning companies in the U.S. use aluminum as the raw material for canning instead of using tin for its increased heat processing capacity. With the introduction of aluminum alloy, which has a harder surface than tin and is better suitable for canning, the tin plate's prevailing position as a container for canned foods was altered.
U.S. Canned Foods Market By Geography, 2022-2030
- Largest
- Fastest
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U.S. Canned Foods Market Dynamics
Drivers
Convenience to Bolster Market Growth
- Canned foods are a popular choice for busy consumers looking for fast and simple meal solutions because of their convenience and long shelf life.
- Canned foods are often more affordable than fresh produce, making them an attractive option for budget-conscious consumers.
Restraints
Health Concerns to Hinder Market Growth
- Some consumers are concerned about the health effects of consuming canned foods due to their high sodium content and potential exposure to harmful chemicals such as bisphenol A (BPA).
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U.S. Canned Foods Market Competitive Landscape
The large number of regional players and intense competition in the U.S. canned food business are its defining features. With consumers focusing on purchasing from well-known brand names for quality assurance, it is anticipated that the threat of new competitors in the industry will stay low. The market for smaller players is smaller because the main players have powerful brands and high-volume production facilities. The danger posed by new entrants is also increased by the strict regulatory requirements and government policies. The establishment of canning plants is also seen to have resulted in a sizable capital expenditure.
Top Player’s Company Profiles
- Del Monte Foods, Inc.
- The Kraft Heinz Company
- Campbell Soup Company
- Bumble Bee Foods LLC
- Hormel Foods Corporation
- Conagra Brands, Inc.
- General Mills, Inc.
- The J.M. Smucker Company
- Bush Brothers & Company
- Green Giant (B&G Foods, Inc.)
- Red Gold, LLC
- Seneca Foods Corporation
- Amy's Kitchen, Inc.
- Nestle S.A.
- Hain Celestial Group, Inc.
- Farmer's Best International, LLC
- McCormick & Company, Incorporated
- JBS USA Holdings, Inc.
- Tyson Foods, Inc.
- Faribault Foods, Inc.
Recent Developments
- In August 2021, Bolton Group purchased Wild Planet Foods, a market leader in innovation and a pioneer in the US sustainable canned fish industry. In order to establish a sustainable supply network, Wild Planet and Bolton Group worked together.
- In September 2021, Kraft Heinz purchased the Brazilian culinary business Hemmer. The chance to advance our Taste Elevation-based worldwide expansion strategy presented by this acquisition is invaluable.
U.S. Canned Foods Key Market Trends
- Consumers are becoming more health-conscious, leading to an increase in demand for canned foods that are low in sodium, sugar, and artificial additives. Companies are responding to this trend by introducing healthier canned food options, such as canned fruits and vegetables with no added sugar or salt.
- Canned food manufacturers are investing in new packaging technologies to improve the convenience and shelf life of their products. For example, some companies are developing resealable can lids and easy-open cans.
- Growth in online sales: With the rise of e-commerce, canned food companies are increasingly selling their products online. This trend has been accelerated by the COVID-19 pandemic, which has led to an increase in online grocery shopping.
- Consumers are becoming more environmentally conscious, leading to an increased demand for sustainable packaging options. Some canned food manufacturers are responding to this trend by introducing recyclable or biodegradable packaging materials.
- Private label brands, or store brands, are becoming more popular in the canned food market. This trend is being driven by retailers who are looking to differentiate themselves from their competitors and offer their customers high-quality, affordable canned food options.
U.S. Canned Foods Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the U.S. Canned Foods market is the development of the industry that is anticipated to be driven by improvements in distribution infrastructure, the resulting rise in demand for ready-to-eat food items, affordability of canned food, and shifting consumer lifestyles. The market indicates that there are big players buying smaller businesses, and these players cut prices as a result of the fierce competition. As a result of asset sales and higher fixed costs associated with automated processes, it has also been noted that the exit barriers for businesses that produce canned food are high, which has heightened competition among rivals. Canned foods are often more affordable than fresh produce, making them an attractive option for budget-conscious consumers. Consumers are becoming more health-conscious, leading to an increase in demand for canned foods that are low in sodium, sugar, and artificial additives. Companies are responding to this trend by introducing healthier canned food options, such as canned fruits and vegetables with no added sugar or salt.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 94.1 billion |
| Market size value in 2030 | USD 104.9 billion |
| Growth Rate | 1.3% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on U.S. Canned Foods Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on U.S. Canned Foods Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the U.S. Canned Foods Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the U.S. Canned Foods Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the U.S. Canned Foods Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the U.S. Canned Foods Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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