Key Canned Meat Market Players, Future Growth Prospects, Emerging Solutions – Global Forecast 2028
Global Canned Meat Market Overview:
The Global Canned Meat Market size is slated to reach approximately
USD 13.70 Billion by 2028, at a CAGR of 2.4% from 2021 to 2028.
Market Dynamics:
In recent years, the Global Canned
Meat Market has seen significant growth. The increasing awareness
of canned meat nutrition among customers is projected to drive the growth of
the global demand for canned meat. Development in customer perception of
packaged food nutrition is the key factor driving the growth of the global
canned meat industry. The growth of the global canned meat industry is driven
by the growing popularity of ready-to-cook meat and seafood among customers.
The growing urban population, who choose simple and convenient food, and the
need for balanced foods rich in proteins, functional fibers, vitamins and
omega-3 fatty acids are the key drivers of the industry. In addition to the
demand for thin, simple, ready-to-cook meat and seafood, and organic canned
fruits and vegetables, customers who are willing to pay a little more on the
goods offering such properties are thus fueling market sales. Therefore, demand
growth is also growing due to the grocery presence of major retailers such as
7-Eleven, E-mart, Big C, etc. and the increasing internet penetration of the
online market for the purchasing of processed meat products.
Consumers are growing expenditure on canned meat with the
increase of health issues, which provides canned meat suppliers attractive
growth opportunities. Ready-to-eat meat and seafood demand is increasing. The
availability of easy choices for cooking, such as ready-to-eat and ready-to-serve,
has fuelled market appetite for canned meat. In addition, growing consumer
perception of the ills of plastic packaging and the need for a sustainable
alternative and increasing recycling rates worldwide have pushed the market
further.
The COVID-19 pandemic has turned people's lives across the
globe upside down and has affected numerous sectors. As several countries are
shut down and have sealed their borders to curb the transmission of the latest
coronavirus, the pandemic has disrupted the canned meat supply chain. Strict
containment measures implemented by the multi-country government and protective
measures to monitor the effects of the epidemic have contributed to major
restrictions on travel.
Segmental Analysis:
The Canned Meat Market Analysis by segment is necessary to
understand the overall prospects and composition of the market. The Market is
divided into segments based on types and distribution channels.
By Meat Type, the market has been segmented into pork,
poultry, beef, seafood, others. By meat type, pork is expected to be the
fastest-growing segment during the forecast period.
By Distribution Channel, the market has been segmented
store-based and non-store-based. Any canned meat is sold by shop-based
distributors. Supermarkets & hypermarkets, convenience stores, and some
have been further divided into this segment. The industry dominated the
supermarkets & hypermarkets segment in 2019 and is predicted to dominate
during the forecast period.
Regional Analysis:
North America dominated the worldwide packaged meat market
in 2019 with the increase in awareness of the health benefits of canned meats
by customers. The US is the biggest market for canned meat in North America.
This share is expected to rise rapidly during the forecast period with frequent
product launches by many major players in the North American industry.
Europe accounted for a large quantity in the canned meat
market. The presence of the canned meat industry in Germany, the United
Kingdom, Denmark and, amongst other countries in Europe, creates an
opportunistic demand for existing players. Growing market reliance on processed
foods with a higher shelf life has fuelled the demand for canned meat in this
area. In addition, the launch of many standardized, structured e-commerce sites
in emerging economies is expected to increase the market for canned meat in
Europe during the predicted timeframe.
Asia-Pacific is the fastest growing region in the global
market for canned meat, especially canned fish/seafood, and fruit. The
Asia-Pacific region is both the biggest exporter and the largest importer of
seafood in the world. Although the consumption of canned seafood in the area is
considerably limited, since most of the regional population in the Asia-Pacific
region prefers to eat fresh seafood, the demand for canned seafood is primarily
for seafood that is not locally available compared to frozen seafood.
Competitive Landscape:
By adding canned meat to the industry, producers are
widening their food portfolio. Focus is on mergers, growth, takeover, and
collaboration along with new product creation as competitive approaches
implemented by leading businesses to improve their market presence among
customers. The Market Analysis by competitors is important to view major
stakeholders. There are many major Key
Canned Meat Market Players responsible for Market trend of growth.
The major competitors of the Market are
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) are the major players.
About Market Research Future:
Market Research Future (MRFR) is a world-renowned market
research company that offers a wide range of services, complete with accurate
and precise analysis about diverse markets, sub-markets and target consumers.
Our approach is a combination of extensive information and multiple data
sources that help provide an exhaustive comprehension about the latest major
developments to the client, in addition to future events and what measures and
decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an
adept research analysts’ team that focuses on gathering useful data and
analytics in terms of economic and technological advances. Our proficient analysts
conduct industrial visits in a bid to achieve reliable and accurate information
from established market participants. One of our foremost objectives is to keep
the client well-versed with all the lucrative opportunities as well as
challenges surrounding various global markets. We offer step-by-step guidance
to our clients, through consulting and strategic services, enabling them to
arrive at a practical and effective decision.
Contact Us:
Market Research Future (part of Wantstats Research and Media
Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071
Comments
Post a Comment