Market Size of Canned Fruits Industry
|Study Period||2018 - 2028|
|Market Size (2023)||USD 10.46 Billion|
|Market Size (2028)||USD 12.93 Billion|
|CAGR (2023 - 2028)||4.34 %|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Canned Fruits Market Analysis
The Canned Fruits Market size is expected to grow from USD 10.46 billion in 2023 to USD 12.93 billion by 2028, at a CAGR of 4.34% during the forecast period (2023-2028).
- The primary factors driving the anticipated market growth are developments that advance canning technology. Increased research and development spending is associated with the production of healthier foods, improved "Nutri-score" labels, and a wider range of convenience products. The market will expand as a result of the developing distribution network for canned goods across the globe. Consider offline and online retailers that specialize in a niche or specialty food markets, such as Asian, Halal, vegan, organic, etc. The market for canned fruits and vegetables is still heavily influenced by the long shelf life of these products.
- Prices have a big impact on what people spend on food, which ultimately helps to explain some of the trends in the food marketing industry. Low-income individuals like to shop at low-cost shops/outlets and frequently purchase less expensive foods. Private-label manufacturers dominate this category since they are generally offered at lower prices than branded or big players. These goods have long been easily accessible in supermarkets and other retail stores. As a result, mass market outlets are seeing an increase in sales as producers continue to release low-cost canned goods in large quantities.
- Canned fruits require a specific environment of storage and unwanted complications occur if the product is exposed to incompatible conditions. This mostly happens if the contents are not being consumed in a short time once the can is opened. Nevertheless, secondary plastic lids are being considered as a remedy to tackle enzymatic reactions that lead to spoilage.