Canned Food Market Size

Canned Food Market Analysis

The Canned Food Market size is estimated at USD 89.03 billion in 2024, and is expected to reach USD 108.58 billion by 2029, growing at a CAGR of 4.05% during the forecast period (2024-2029).

Canning is the process of preserving food products and extending their shelf life. Canned products are used in many countries in extensive quantities owing to their benefits. Canned foods reduce the spoilage of food because of external factors like sunlight, air, or insects. Canning preserves the nutrients of the food as it is. Many fast-food chains and restaurants use canned foods like corn, tomato purees, and many more owing to their convenience and longer shelf life. Major players like Campbell's, Del Monte, Nestle, and many other companies relaunch their older products with new packaging or logos to attract consumers' attention. For instance, in November 2021, Campbell Soups relaunched its Campbell's Condensed Soup with a new logo, packaging, and visual identity.

The market is mainly driven by the rising urban population that prefers easy and convenient food and the demand for healthy food rich in protein, functional fibers, vitamins, and omega-3 fatty acids. Consumers who are willing to spend a little more for the products offering such properties, coupled with the demand for small, easy, ready-to-cook meat and seafood and organic canned fruits and vegetables, are thus fueling market sales. Furthermore, the rising awareness of the ills of plastic packaging and the demand for a sustainable solution, as well as the increasing recycling rates globally, have been further driving the market. The rising number of food retail outlets, along with increasing urbanization, research and development investments, and marketing strategies used by the players in the canned food market, is expected to have a positive effect on the overall revenue of the global canned food market.