Canning is a way of preserving food. Food stored in cans is sterilized by heat and then packed in closed & airtight containers. These containers are primarily made of flexible aluminum foils. Canning vastly improves shelf life of food products and also helps to maintain vitamin and protein content in food products. Canning is mostly used to preserve meat and meat products for longer durations of time.
Europe dominates the global canned food market in terms of revenue owing to high consumption of canned foods in countries in the region
Changing lifestyles coupled with increasing preference for canned foods by individuals in developed countries are key factors boosting growth of the global canned foods market. In addition, increasing health consciousness among individuals, and innovative product offerings from key players are major factors expected to fuel growth of the global canned foods market over the forecast period.
Moreover, brand image and customer loyalty are important factors which are expected to contribute towards continuous growth of the global canned foods market.
Use of high amount of preservatives in certain canned foods, that can cause severe health issues in individuals when consumed in high quantities is a major restraining factor for growth of the global canned foods market.
However, high investments in R&D, and development of new products that contain less amount of preservatives or that use natural preservatives are expected to be high potential opportunities for key players in the global canned foods market to expand their revenue share and market presence.
The global canned food market report has been segmented on the basis of product type, distribution channels, and region. On the basis of region, the global canned food market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in Europe dominates the global canned foods market in terms of revenue, followed by the market in North America. This can be attributed to high consumption of canned foods by individuals in countries in the region. The market in North America is expected to register second-highest revenue, owing to its high adoption rate due to its convenience while using & serving, and high preference for canned foods in countries in the region. The canned foods market in Asia-Pacific is expected to witness growth with highest CAGR, owing to changing food habits along with high use of cans for storage of fish and meat products in emerging economies such as Japan and China in the region.
The key players in the global canned food market include Bolton Group B.V., Conagra Brands, Inc., Del Monte Foods, Inc., The Kraft Heinz Company, H.J. Heinz Company, L.P., Pinnacle Foods, Inc., Hormel Foods Corporation., General Mills, Inc. and Kellogg Company.