PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1534231
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1534231
Global Canned and Ambient Food Market is valued at approximately USD 230.72 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.5% over the forecast period 2024-2032. Canned foods, characterized by their processing and sealing in airtight containers, offer an extended shelf life through effective food preservation methods. The main types of canned and ambient food include fruit and vegetable canning, specialty canning, and dried and dehydrated food. Properly processed, canning serves as a safe and reliable technique for long-term storage of fruits and vegetables. These products find applications in various segments such as food, snacks, intermediate products, and condiments, distributed through multiple channels including supermarkets/hypermarkets, convenience stores, e-commerce, and other distribution channels.
The canned and ambient food market has seen robust growth in recent years, driven by factors such as long shelf life, advancements in food preservation technology, convenience and portability, military and emergency supplies, and global food distribution. From 2023, the market size is projected to grow from USD 230.72 billion to USD 245.87 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The forecast market growth is attributed to health and nutritional benefits, sustainability and eco-friendly packaging, diverse food options, digital marketing and e-commerce, and the rise of functional and convenience foods. Key trends expected to shape the market include the adoption of plant-based and vegan options, the incorporation of global and ethnic flavors, the demand for clean-label products, and the convenience of single-serve and microwaveable meals. Moreover, the health and nutritional benefits, sustainability and eco-friendly packaging, digital marketing and e-commerce present various lucrative opportunities over the forecast years. However, the high production costs and supply chain disruptions are challenging the market growth throughout the forecast period of 2024-2032.
The key regions considered for the Global Canned and Ambient Food Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is a dominating region in the Global Canned and Ambient Food Market in terms of revenue. The market growth in the region is being attributed to factors including a high demand for convenient, long-lasting food products, well-established retail distribution networks, and a strong tradition of consuming canned foods. European consumers value the convenience and extended shelf life offered by canned and ambient foods, making these products a staple in many households. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by increasing urbanization, changing lifestyles, and a rising middle class with greater disposable income. As more consumers in Asia-Pacific seek convenient and ready-to-eat food options to accommodate their busy lifestyles, the demand for canned and ambient foods is surging.