Global Canned Food Industry Analysis
The global market for canned food (one the major segments of the packaged food sector) recorded more than 2.5% growth in 2010 to generate more than $80.7 billion, according to research from MarketLine. The market is expected to record almost 15% expansion between 2010 and 2015 to exceed $92.7 billion.
The global canned food market is expected to exceed a volume of 23 billion kilograms in 2015, representing almost 11% expansion in five years. The canned food industry is involved in the retail sales of canned ready meals, canned vegetables, canned fruit, canned pasta and noodles, canned desserts, and canned seafood and meat products.
Key Market Segments
Canned meat products represent the leading market segment in the global canned food industry. This segment accounts for more than 25% of the overall market in terms of value, reports MarketLine.
MarketLine estimates the Del Monte Foods Company generates more than 5% of the global canned food market in terms of value, making it the leading company currently operating in the market.
Regional Market Share
The EU holds a 49% share of the global canned food market in terms of value, according to MarketLine. The EU canned food industry was worth almost $38 billion in 2010, having recorded yearly growth in excess of 2% between 2006 and 2010. Market growth is expected to accelerate slightly to a yearly rate of little over 2% between 2010 and 2015, bringing the market to almost $42 billion.
The Asia-Pacific canned food industry recorded yearly growth in excess of 4% between 2006 and 2010, reaching almost $15 billion in 2010, according to research from MarketLine. Canned meat products represented the leading market segment at close to $7 billion, accounting for 48% of the overall market. Market growth is expected to accelerate to a yearly rate of 4.5% between 2010 and 2015, when the market should be worth over $18 billion.
The US canned food industry recorded yearly growth in excess of 2.5% between 2006 and 2010 to reach almost $14.5 billion, reports MarketLine. Canned vegetables represented the leading market segment generating $4.5 billion, accounting for over 31% of the overall market. Market growth is expected to slow to a yearly rate of less than 2.5% between 2010 and 2015 to just over $16 billion.
The UK canned food industry has been recording steady growth over recent years due to product innovation and consumer loyalty, reports KeyNote. Rising commodity prices, for example for metal used in the canning process, along with food price inflation has caused fast market growth in terms of value over the past four years. Canned vegetables represent the leading market segment, generating $1.2 billion in 2010, accounting for almost 31% of the overall market.