Market Size of South America Canned Fruits Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.02 % |
| Fastest Growing Market | South America |
| Largest Market | South America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Canned Fruits Market Analysis
The South America Canned Fruits Market is projected to register a CAGR of 6.02% during the forecast period, 2022-2027.
Convenience is a top priority for consumers today when making purchases, and they look to companies to keep coming up with new, creative methods to save them time and effort. Since they are readily available all year long, regardless of the season, and can be kept for months or even years without refrigeration, canned fruits are extremely popular in the region as a whole. Additionally, millennials and their wide acceptance of ready-to-eat fruits led manufacturers to introduce various canned fruit products in the market. For instance, Del Monte Foods offers a variety of canned fruits such as canned mango, grapefruit, and cherries, among others.
Furthermore, South American consumers have become more concerned and aware of dietary health, thus, they prefer purchasing canned food from multinational manufacturers who have been influenced to develop products with greater health and nutritional benefits. Government agencies in the region have urged better management due to the increased prevalence of diabetes and other health concerns; therefore, a variety of initiatives have been undertaken to expand the customer base. According to information provided by the International Trade Administration, the Argentine government implemented new nutritional labeling in March 2021, mandating companies to display black octagonal warning labels on processed or canned food packages.
Additionally, the growing number of vegetarians and the expanding fitness and wellness trend in the area are projected to fuel the market. Thus, canned fruits are becoming increasingly popular as a convenient meal option among working people which in turn drives the growth of the market in the upcoming years.
