Global Canned Meat Market size is projected to be valued at USD 12 Billion by 2026 at a CAGR of 4.5% between 2020 and 2026. An increase in awareness of the shelf life of canned meat among the consumers is the key factor driving the growth of the global canned meat market. The canned food has registered tremendous growth in the past few years, and a similar trend is expected for the canned meat market. Additionally, high demand for canned meat is registered in North American and Europe.
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The global Canned Meat Market is projected to register a notable growth rate during the forecast period. According to MRFR analysis, there are more than 4.19 million of consumers of canned meat. The increase in per capita consumption of meat is the major factor driving the growth of the global canned meat market. According to World Health Organization, the annual production of meat is projected to increase to 376 million tons by 2030, and the consumption of meat would be 45.3 per kg per person per year by 2030 globally. Additionally, canned meat offers high-value protein and is also an important source of essential micronutrients, minerals, and vitamins, which makes it the preferred choice for consumers. Furthermore, rising disposable income, population growth, and urbanization in the emerging economies are the crucial factors driving the growth of the global canned meat market. The increasing demand for canned meat among consumers is anticipated to offer lucrative opportunities for manufacturers across the globe.
American Tuna, Inc. (US), Wild Planet Foods (US), Bumble Bee Seafoods (US), Maruha Nichiro Corporation. (Japan), VION Food Group (Netherlands), Hormel Foods Corporation (US), JBS, Meat Maniac (US), Premium Iowa Pork (US) and Nordic Seafood A/S (Denmark)
Growth Opportunities in the Market
Increase in demand of pork: According to USDA Foreign Agricultural Service (OECD) in 2020, the global Canned Meat Market pork consumption was 40.1% as compared to chicken, which was 33.3%, mutton and goat was 5.2%, and beef was 21.4%. The surge in import-export activities of pork is expected to offer lucrative opportunities to the manufacturers of canned meat.
Easy availability of canned meat in store-based distribution channels: Easy accessibility of canned meat in store-based distribution channels has resulted in its dominance. Additionally, the increasing number of store-based channels for sale and purchase of canned meat worldwide, such as supermarkets and hypermarkets and specialty stores, has resulted in the dominance of store-based distribution channels. However, companies are opting for online distribution platforms to widen their consumer reach.
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