Market Trends of North America 3 Piece Metal Cans Industry
Increasing Demand From Consumers For Ready-To-Cook And Ready-To-Eat Products
- The rise in consumer demand for ready-to-cook and ready-to-eat food products has contributed to the growth of the canned food market in both developed and emerging economies. Factors such as the increasing working population and the limited time available for cooking have positively influenced market growth.
- Additionally, the rise in the millennial population, with their widespread acceptance of ready meals, has led to a preference for canned products due to their ease of preparation and time-saving benefits.
- Major manufacturers are responding to this demand by adopting new strategies, including launching new products and expanding production capacity to better serve consumers. The market is primarily driven by the growing urban population's preference for convenient food and the demand for healthy options rich in protein, functional fibers, vitamins, and omega-3 fatty acids.
- Consumers willing to invest a little more in products with these properties, along with the demand for small, easy-to-cook meat and seafood, as well as organic canned fruits and vegetables, are driving market sales.
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Growing Market In Canada
- Canned foods are increasingly preferred due to their convenient availability in the market, making them an integral part of many people's diets. In the Canadian region, the rising consumption of such foods is driving a growing demand, thereby playing a crucial role in boosting the market for canned foods. Moreover, investments and new product launches by key players are anticipated to further propel market growth in the coming years.
- Shifting demographics in the country, influenced by factors such as aging baby boomers, the increasing purchasing power of the general population—especially millennials—and heightened ethnic diversity, contribute to changing food preferences. These factors drive trends toward food products with enhanced nutrition, ethical food choices, environmentally sustainable diets, and novel taste profiles and flavor combinations.
- According to Agriculture and Agri-Food Canada (AAFC), consumers are increasingly favoring foods that are quick to cook or ready for immediate consumption, thereby expected to boost the canned foods market in the country.
- The changing landscape also reflects a growing desire for information about food, encompassing production practices and the nutritious contents of the food. Beyond nutritional composition, consumers seek to understand how foods can enhance their performance or improve their health. This escalating health awareness among consumers is anticipated to further drive the market.
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