Market Trends of APAC Canned Food Packaging Industry
This section covers the major market trends shaping the APAC Canned Food Packaging Market according to our research experts:
Steel Canned Food Demand is Expected to Grow Significantly
- The steel can perform well where value is a key driver, as it remains a low-cost pack type, having robust basic functionality. Canned food brands use three-piece welded cans to keep the final product's cost low, making it accessible to a broad audience.
- A unique worldwide initiative, Canvironment week aims to make a significant and sustainable impact by creating general awareness about the exclusive benefits of usage of Cans, such as eco-friendly nature. Can makers and Brand owners worldwide be coming together to build a 'United Global Metal Can Sustainability Movement'? These kinds of initiatives promote metal can packaging.
- Sealed and tamper-proof steel container food is in high demand as it protects food from harmful bacteria and holds its nutrition value for an extended time. Also, due to the busy lifestyles of consumers, canned food is expected to gain more importance.
- The accessibility and affordability of canned food make it a solution to the people's need for safe, nutritious, and quality produce and protein. Steel food can is environmentally friendly, curbs food waste, and fuels the economy. Steel can is 100% recyclable and made from a minimum of 25% recycled content.
- New and innovative products, along with the growing consumer demand, are driving the canned food market. New product launches help vendors increase their sales and market share. For instance, in November 2019, Thai Union Group PCL (Thai Union) launched a new tuna product, SEALECT Tuna Fitt, in Thailand to attract health-conscious consumers. Similarly, in July 2019, Princes launched Mackerel Sizzle and Infused Tuna Fillets, two new fish-based product ranges. The company launched the products to extend canned fish products into the evening meals of end-users.
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Australia is Expected to Hold Significant Market Share
- According to Pacifical C.V., canned tuna is Australia's most popular canned seafood item. Tuna has 76% of the canned seafood share. It is offered mainly in a 95g format. 185 g and 425 g net weight are also available. The Simplot Australia brand "John West" leads the canned tuna category with a 37.3% market share.
- Fresh beef from Brazil is not permitted for import to Australia, but fully cooked canned beef from Brazil can enter the country as a manufactured or processed product ready to eat. Supermarket chains like Cole and Woolworths are selling 'made in Brasil' beef under their brand names, affecting the sales of locally produced canned meat brands like Hamper, which almost cost twice compared to Cole's canned corned beef.
- The Canned Food Information Service Inc (CFIS) is promoting Australian food packaged in steel cans. Through publicity, it tries to convince potential customers about the merits of this food delivery system, clear all the misconceptions, and focus on generating more purchases; to ensure that Australian canned food remains a common ingredient in meals rather than an occasional or standby food. These actions are also influencing canning companies to become more responsible for their choice of future packaging direction to create a climate of greater confidence in the future of the steel can.
- During March 2020, canned vegetables and fruits sales increased by 118.5% and 73.9%, respectively. E-commerce played a significant role in the growth of canned food, as the digitally savvy consumers found it easy to order online and choose from a wide variety of brands and products. However, during the pandemic, consumers have adapted to shopping more frugally and envisage using their newly developed food preparation skills to use cheaper fresh produce in the home. This trend can affect the sales of canned vegetables and fruits in the long term.
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