Canned Fruits Market size was estimated to be USD 10.5 billion in the year 2019 and this value is expected to reach USD 12.4 billion by the year 2024, growing at a CAGR of 3.33% between 2020 and 2025. Canning of food products is a preservation technique using a combination of heating and storing procedures in airtight containers to extend the shelf life of the foods significantly by killing all the microorganisms responsible for the food spoilage. Virtually any type of food product that is harvested or processed can be canned. This procedure has played an important role in provisioning armed forces of any nation with sufficient ration and has also been key in making available some varieties of food product which can be harvested only in a particular region or geography to new regional markets.
Although the consumer today has many options and can find fresh food for comparatively longer durations owing to technological advancements and freezing options, there was a time when some food varieties were only available in canned form. Even now owing to all these advancements canned food remains a crucial part of any pantry across the world.
Canning is a food preservation method that involves uses of heating and storing procedures in airtight containers, which increases the shelf life of food products by the elimination of microorganisms that cause the food spoilage. The addition of preservatives further prolongs the shelf life and keeps food fresh for a longer time.
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Canned Fruits Market Growth Factors:
Factors fuelling the growth of the market are a rapid rate of urbanization, an increasing number of nuclear households, busy lifestyles and increasing demand for portable storage methods for food products as well as growing popularity for convenience foods. However, factors like the presence of alternative economic packaging methods and high prices of canned fruits are the factors hindering the growth of the market.
Owing to busy lifestyles, consumer inclination toward consumption of processed and ready to eat food products has increased during the recent times, and also due to the retention of a high amount of nutrients and flavor canned food has become one of the preferred choices of preserved food among consumers, Also increase in the percentage of working women has increased the dependency of consumers on packed foods which in turn has led to the growth in demand for food with longer shelf life, which ultimately fuels the growth of Canned Food Market.
The steadily changing food habits of the global population have contributed significantly to increasing the global consumption of canned fruits in the past few years. Factors such as the rapid rate of urbanization, high disposable incomes, and busy lifestyles are the major drivers in the growth of the global Canned Fruits Market. The mentioned trends have made canned fruits an integral part of the pantries of people across the world. In addition to this, the easy availability of canned fruits and awareness that canned fruits can deliver better nutritional value, and their economic prices as compared to fresh fruits are improving the demand for Canned Fruit Market. Canned fruits can be shipped to different regions where some of them cannot be grown owing to the environmental conditions, in such areas consumers thus have the option of trying a wide assortment of fruits which would not be possible without the canned fruit market, this also led to an exceptional rise of the global canned fruits market.
The steady rise in the demand for fresh and minimally processed produce is expected to have a huge negative impact on the market of canned fruits. Moreover, the increase in consuming outside food and reduction in home cooking practice is also expected to gradually erode the market.
Detailed Segmentation of the Canned Fruits Market:
By Distribution Channel:
By Type, the canned fruit market is mainly divided into two types namely Organics and Inorganics. Organics are the canned fruits produced without using synthetics like pesticides and chemical fertilizers, whereas Inorganics are produced by using these synthetics to protect the crop from some pests and other insects capable of causing some harm to the crop. However the organic segment is expected to grow at a considerable rate, owing to the increase in the inclination of consumers towards organic products due to the ill effects of synthetic chemicals on health, consumers have become more conscious about the food they consume.
By Distribution Channel, the Canned Fruit Market is mainly divided into Supermarkets/ Hypermarkets, Online Retail, Convenience stores. Among these the Supermarkets segment was dominant, which accounted for half of the share in the canned fruit market in the year 2018, and is expected to retain the dominance throughout the forecast period, supermarkets are most preferred for purchasing canned fruits. Owing to the presence of a large number of chained hypermarkets in developed countries and growing penetration of these in the developing countries has led to its higher share in the canned fruit market. Due to the busy lifestyles of consumers and the rise in the percent of people getting used to a convenient lifestyle, they are engaged in purchasing Canned fruits through Online Retails, this is likely to lead to the high growth rate of this segment during the forecast period.
Regional Growth Insights:
Europe holds the dominant share of nearly 40% in the global canned fruit market worldwide followed by North America in second place. Collectively, the markets for canned fruits in Europe and North America have a stronghold on the development of the global Canned fruit market and they are estimated to remain at the helm of Canned fruit market development in the future. These regional markets are growing mainly due to factors such as busy lifestyles, high preference for convenience foods and, high disposable incomes. However, these regions are expected to observe stagnant growth in the future because of an increase in demand for fresh and organic fruits. On the other hand, the Canned fruit market in the region of Asia-pacific is growing steadily owing to the increase in urbanization of some countries in this region.
Food safety always remains a top priority for every food processing or manufacturing company. Abiding with this, the leading players in this market promise to provide consumers with the safest, freshest, and high- quality fruit. The introduction of highly advanced machines, including new optical color and laser sorts, high-speed packaging lines, and On-site freezing storage has made it convenient to process canned fruit in a better manner.
Impact of Covid-19 on Canned Fruits Market:
Although Covid-19 pandemic has negatively affected several industries, it is considered as a boon for canned fruits market. The increasing consumer preference to eat meat alternatives to lead a healthy life is foreseen to act as a catalyst for the demand of canned fruits across the world.
The players in this market have adopted business expansion as the key developmental strategy to expand their market share, increase their profits, and remaining competitive in the canned fruit market. The key players in the market are Del Monte, ConAgra Foods, Dole Food Company, The Kraft Heinz Company, Seneca Foods, CHB Group, Rhodes Food Group, Conserve, Tropical Food Industries, Kangfa Foods, H.J Heinz, Ardo, and others.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Organic Fruits
5.1.3 Inorganic Fruits
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2 Distribution Channel
5.2.3 Convenience Stores
5.2.4 Specialist Retailers
5.2.5 Online Retails
5.2.7 Y-o-Y Growth Analysis, By Distribution Channel
5.2.8 Market Attractiveness Analysis, By Distribution Channel
5.2.9 Market Share Analysis, By Distribution Channel
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Distribution Channel
6.1.4 Market Attractiveness Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Distribution Channel
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Distribution Channel
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 ConAgra Foods
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Dole Food Company
8.3 H.J. Heinz
8.4 Seneca Foods
8.5 Rhodes Food Group
8.8 Del Monte
8.9 CHB Group
8.10 Tropical Food Industries
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures