Food Can Market | Growth | Share | Size | Trends and Forecast (2024)

Introduction

Global Food Can Market (USD Million), 2020 - 2030

In the year 2023, the Global Food Can Market was valued at USD 32,974.88 million. The size of this market is expected to increase to USD 50,240.60 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 6.2%.

The global food can market stands at the intersection of necessity and innovation, embodying the age-old practice of preserving sustenance while continually adapting to modern demands. As an essential component of the food packaging industry, food cans serve not only as vessels for storage but also as guardians of freshness and longevity, ensuring that nourishment reaches consumers around the world in optimal condition.

From humble beginnings to sophisticated production lines, the evolution of food cans mirrors the progress of human civilization itself. What once began as rudimentary containers crafted from tinplate or steel has now transformed into a realm of diverse materials, shapes, and functionalities, catering to the diverse needs of both manufacturers and consumers.

In an era where convenience and sustainability are paramount, the food can industry has embraced technological advancements and eco-friendly initiatives with fervor. Innovations such as easy-open lids, lightweight materials, and recyclable packaging have reshaped the landscape, offering not only convenience but also reducing environmental impact.

Parameters Description
Market Global Food Can Market
Study Period 2020 - 2030
Base Year (for Global Food Can
Market Size Estimates)
2023
Drivers
  • Growing Demand for Packaged Foods
  • Rising Popularity of Canned Ready-to-Eat Meals
  • Technological Advancements in Packaging
Restriants
  • Health and Safety Concerns
  • Fluctuating Raw Material Prices
  • Regulatory Compliance and Standards
Opportunities
  • Emerging Markets
  • Innovative Packaging Designs
  • Expanding Product Portfolios

Segment Analysis

Product segmentation delves into the diverse range of food cans available in the market, encompassing variations in size, shape, and material composition. From traditional tinplate cans to modern aluminum and composite alternatives, each product type offers unique attributes catering to specific consumer preferences and industry requirements. This segmentation enables stakeholders to tailor their offerings to meet the demands of various market segments effectively.

Application segmentation explores the myriad ways in which food cans are utilized across different sectors of the food industry. Whether it's preserving fruits and vegetables, packaging soups and sauces, or containing pet food and infant formulas, food cans play a vital role in ensuring product freshness, safety, and convenience. By understanding the distinct application requirements and consumer trends within each sector, market players can strategically position their products and capitalize on emerging opportunities.

Geographical segmentation provides insights into regional variations in market dynamics, consumer preferences, and regulatory landscapes. From mature markets in North America and Europe to rapidly growing economies in Asia-Pacific and Latin America, each region presents unique challenges and opportunities for food can manufacturers. Factors such as population growth, urbanization, and disposable income levels influence demand patterns, necessitating tailored strategies to effectively penetrate and thrive in different geographical markets.

Global Food Can Segment Analysis

In this report, the Global Food Can Market has been segmented by Product, Application and Geography.

Global Food Can Market, Segmentation by Product

The Global Food Can Market has been segmented by Product into Aluminum and Steel.

Aluminum cans have emerged as a popular choice due to their lightweight nature, which contributes to reduced shipping costs and environmental impact. This lightweight property also makes aluminum cans highly portable, appealing to consumers seeking on-the-go food options. Additionally, aluminum offers excellent resistance to corrosion, ensuring the integrity of the packaged food and extending its shelf life. Moreover, aluminum cans are fully recyclable, promoting sustainability and aligning with consumer preferences for eco-friendly packaging solutions.

Steel cans hold their ground with their robustness and durability. Steel's strength makes it ideal for packaging foods that require extra protection, such as acidic or high-pressure products. Steel cans provide a reliable barrier against external elements, safeguarding the quality and freshness of the contents within. Steel offers superior barrier properties against light, oxygen, and moisture, enhancing the shelf stability of packaged foods. While steel cans may be slightly heavier compared to aluminum counterparts, they are also fully recyclable, contributing to circular economy initiatives.

Global Food Can Market, Segmentation by Application

The Global Food Can Market has been segmented by Application into Meat, Ready meals, Vegetables, Fish, Fruits, Powder products, Pet food and Others.

Meat, a staple in diets across cultures, represents a significant segment within the food can market. Canned meat products offer convenience, long shelf life, and versatility, making them popular choices for consumers seeking quick and easy meal solutions. Ready meals, another prominent application segment, cater to the busy lifestyles of modern consumers. Canned ready-to-eat meals provide a convenient alternative to cooking from scratch, offering a wide variety of options ranging from soups and stews to pasta dishes and curries.

Vegetables, both whole and processed, are extensively packaged in food cans, offering consumers access to nutritious produce year-round. Canned vegetables retain their freshness and flavor while providing convenience and ease of storage, making them a pantry staple in many households. Fish, prized for its nutritional value and delicate flavor, is another significant application segment in the food can market. Canned fish products such as tuna, salmon, and sardines are popular choices for consumers looking for convenient sources of protein and omega-3 fatty acids.

Fruits, whether whole, sliced, or in syrup, are packaged in food cans to preserve their natural sweetness and freshness. Canned fruit products offer consumers the opportunity to enjoy seasonal fruits year-round, making them a popular choice for desserts, snacks, and meal accompaniments. Powder products, including powdered milk, infant formula, and powdered beverages, are also packaged in food cans for convenience and long-term storage. These products offer consumers a convenient and versatile option for preparing drinks and meals.

Global Food Can Market, Segmentation by Geography

In this report, the Global Food Can Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Food Can Market Share (%), by Geographical Region, 2023

North America, characterized by its mature market, holds a significant share in the global food can industry. The region benefits from established consumer preferences for canned foods, driven by factors such as convenience, busy lifestyles, and the presence of well-established food can manufacturers.

In Europe, stringent regulations regarding food safety and packaging materials influence market trends. Despite facing challenges from alternative packaging formats, the European food can market maintains stability, buoyed by a strong emphasis on product quality and sustainability.

The Asia Pacific region emerges as a hotbed of growth opportunities, propelled by rapid urbanization, changing dietary habits, and a burgeoning middle class. Countries like China and India witness a surge in demand for packaged foods, driving the expansion of the food can market in the region.

In the Middle East and Africa, evolving consumer preferences and increasing urbanization drive demand for canned foods, albeit at a relatively slower pace compared to other regions. Economic diversification efforts and growing investment in food infrastructure contribute to market growth, especially in urban centers.

Latin America, with its rich agricultural resources and diverse culinary traditions, presents a fertile ground for the food can market. Despite economic challenges in some countries, the region's growing population, coupled with rising disposable incomes and urbanization, fuels demand for packaged foods, including canned products.

Food Can Market | Growth | Share | Size | Trends and Forecast (2024)

FAQs

Food Can Market | Growth | Share | Size | Trends and Forecast? ›

The global Canned Food market size was valued at USD 22657.67 million in 2021 and is expected to expand at a CAGR of 3.78% during the forecast period, reaching USD 28308.77 million by 2027.

What is the growth forecast for the food industry? ›

Revenue in the Food market amounts to US$833.10bn in 2024. The market is expected to grow annually by 4.18% (CAGR 2024-2028).

What is the size of the canned food market? ›

As of 2022, the global Canned Food market was estimated at USD 106557.6 million, and it's anticipated to reach USD 139933.17 million in 2028, with a CAGR of 4.65% during the forecast years.

What is the food market size? ›

Global Food Service Market Insights

Food Service Market size was valued at USD 2323.29 billion in 2019 and is poised to grow from USD 2540.05 billion in 2023 to USD 5194.6 billion by 2031, growing at a CAGR of 10.76% in the forecast period (2024-2031).

What is the growth of the fast food market? ›

Fast Food Market Insights

Global Fast Food Market size was valued at USD 527 billion in 2019 and is poised to grow from USD 548.08 billion in 2023 to USD 750.08 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031). Fast food is defined as food that is quick to prepare and serve.

What are the future trends in the food industry? ›

Sustainability is emerging as a pivotal force shaping the future of the food industry, influencing practices from farm to fork. In response to growing environmental concerns and consumer demand for ethically produced goods, the industry is undergoing a paradigm shift towards more sustainable and eco-friendly practices.

What is forecasting in the food industry? ›

Forecasting is based on the concept of using past information to estimate future demand. Therefore it is considered a critical process in foodservice since it has a major role in determining managerial tasks: scheduling labor, and ordering.

What are the trends in the canned food industry? ›

Their extended shelf life and easy storage make them a reliable choice for consumers and businesses alike. Key Market Trends: Key trends include the growing popularity of organic and premium canned products, an emphasis on sustainable packaging, and the introduction of new flavor variants and product innovations.

What is the future of canned food? ›

The Global Canned Food Market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2031. In 2021, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

What is the size of a can of food? ›

Can Sizes Chart
Can SizeWeightCups
#1 square16 oz.2 cups
#21 Ib. 4 oz.2 1/2 cups
#2.51 Ib. 13 oz.3 1/2 cups
#351 oz.4 cups
6 more rows

What is the size of the food industry? ›

The food and beverage industry is one of the largest industries in the US. Packaged food and drink was estimated to be worth over US$1 trillion in 2022. A diverse population and openness to new products makes the US one of the most exciting markets for food and drink brands.

What is an example of a market size? ›

Example market size calculation

Let's say you have 500,000 target customers. That means: 500,000 (number of target users) x 4 (purchases expected over 12 months) = 2 million a year. This means your market volume is 2 million a year.

What is market sizing? ›

Market sizing is the process of finding how big your product's audience or revenue could be. So, market size is the total number of potential buyers for a product or service and the potential revenue reach based on that population size.

Why fast food is a trend? ›

Due to good taste and fluent availability people prefer fast food over home cooked food. Fast food is also a major cause of avoiding proper nutrition. People prefer fast food at their workplace due to their busy schedules. Moreover, fast food is also an addiction for most of the people.

What is the fastest growing part of the food industry? ›

The emerging aquaculture industry continues to grow worldwide and is projected to maintain its position as the fastest-growing food production technology for the next two decades. Aquaculture now produces more than $230 billion worth of goods annually, and over half of the seafood we consume today is farmed.

Who has the largest market share in the fast food industry? ›

McDonald's is the largest fast-food chain.

What is the market outlook for the food industry? ›

A compound annual growth rate of 1.62% is expected (CAGR 2024–2029). The employment rate in the Food market is projected to amount to 0.34% in 2024. The labor efficiency in the Food market is projected to amount to US$138.0k in 2024. The labor productivity in the Food market is projected to amount to US$35.5k in 2024.

What is growing in the food industry? ›

The Good Food Institute reports that demand for plant-based foods is surging. Nearly 20% of US consumers bought their first plant-based protein during the pandemic, and 92% of them say they'll continue to buy those products. We are also seeing an emerging trend in companies marketing foods to support mental health.

What is the future outlook for the fast food industry? ›

The Global Fast Food market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

What is the growth forecast for food delivery? ›

Online Food Delivery - United States

The revenue in the Online Food Delivery market in the United States is projected to reach US$353.30bn in 2024. This is expected to show an annual growth rate (CAGR 2024-2029) of 10.05%, resulting in a projected market volume of US$570.40bn by 2029.

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