Market Size of Canned Meat Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.23 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Canned Meat Market Analysis
During the time frame of the forecast, the canned meat market is expected to grow at a CAGR of 8.23%.
The market is mainly driven by the rising urban population that prefers easy and convenient food and the demand for healthy food rich in protein, functional fibers, vitamins, and omega-3 fatty acids. Consumers willing to spend a little more for the products offering such properties, coupled with the demand for small, manageable, remanageable-to-cook meat, seafood, and organic canned fruits and vegetables, are thus fueling market sales. The canned meat market is driven by various other factors such as shelf stability, perceived hygiene associated with canned meat products, convenience, and other such factors. Additionally, there has been a growth in the demand for canned seafood due to the fact that the protein content of seafood is superior to that of meat and poultry and is a great source of high-quality protein. Omega-3s, iron, B and D vitamins, and protein are just a few of the essential components found in seafood that are necessary for health and wellness at any age. The proteins, vitamins, and omega-3 fatty acids found in fish and shellfish are crucial for developing strong bones, the brain, a strong heart, and a robust immune system.
Furthermore, the rising awareness of the ills of plastic packaging and the demand for a sustainable solution, as well as the increasing recycling rates globally, have been further driving the market. Local enterprises understand the tastes of local consumers, whereas overseas brands frequently manufacture food with a Western flavor. However, as the population across the globe is more open to Western food, this could be a strength of foreign brands. For example, in the year 2022, the Australian Trade and Investment Commission (Austrade) partnered with Vietnam's key seafood importers to launch the Australian Seafood Festival from June to July 2022.
Canned Meat Industry Segmentation
Meat that has been preserved in cans or tins is referred to as canned meat. Meat is typically chopped and processed into cans for long-term preservation, whether it is cooked or raw. It has evolved into an ideal healthy alternative when fresh meat is not an option since it contains significant amounts of crucial nutrients, including proteins, omega-3 fatty acids, fibers, etc. The canned meat market studied is segmented into product type, distribution channel, and geography. Based on the product type, the market is segmented into seafood meats, poultry meats, red meats, and other product types. Based on the distribution channel, the market is segmented into off-trade and on-trade. Off-trade is further segmented into supermarkets and hypermarkets, specialty stores, online retail stores, and other off-trade channels. Also, the study analyzes the canned meat market in emerging and established markets worldwide, including North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
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Canned Meat Market Size Summary
The canned meat market is experiencing significant growth, driven by the increasing urban population's preference for convenient and nutritious food options. Consumers are increasingly seeking products that are rich in protein, functional fibers, vitamins, and omega-3 fatty acids, and are willing to pay a premium for these benefits. The market is also benefiting from the demand for shelf-stable products that offer perceived hygiene and convenience. The popularity of canned seafood is on the rise due to its superior protein content and essential nutrients, which are crucial for health and wellness. Additionally, the growing awareness of the environmental impact of plastic packaging and the push for sustainable solutions are further propelling market growth. Local and international brands are capitalizing on these trends, with foreign brands gaining strength as global consumers become more open to Western food flavors.
The Asia-Pacific region is the fastest-growing market for canned meat, particularly in canned fish, seafood, and fruits, with countries like Japan, Korea, and China leading in imports. The demand for processed and ready-to-cook seafood products is increasing, especially in China, where seafood consumption is high. The seafood processing industry is becoming more important as consumer preferences shift towards easier-to-use products. The market is highly competitive and fragmented, with major players focusing on mergers, acquisitions, and new product development to enhance their market presence. Key companies are also investing in online distribution channels to reach a broader audience. Recent developments include the launch of sustainable canned seafood products and the establishment of new processing facilities to increase production capacity.
Canned Meat Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Seafood Meats
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2.1.2 Poultry Meats
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2.1.3 Red Meat
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2.1.4 Other Product Types
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2.2 Distribution Channel
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2.2.1 Off-trade
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2.2.1.1 Supermarket/Hypermarket
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2.2.1.2 Specialty Store
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2.2.1.3 Online Retail Store
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2.2.1.4 Other Off-trade Channels
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2.2.2 On-trade
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Italy
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2.3.2.6 Spain
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East & Africa
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2.3.5.1 South Africa
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle-East & Africa
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Canned Meat Market Size FAQs
What is the current Canned Meat Market size?
The Canned Meat Market is projected to register a CAGR of 8.23% during the forecast period (2024-2029)
Who are the key players in Canned Meat Market?
Hormel Foods Corporation, Conagra Brands, Inc., Thai Union Group, Trident Seafoods Corporation and Dongwon Enterprise Co., Ltd. are the major companies operating in the Canned Meat Market.
