Canned Vegetables Market Global Insights, Size, Growth, Leading Players, Trends, Technology Status, Demands, Segmentation and Forecast to 2023
Jun 17, 2019
Canned Vegetables Market Global Research Report by Type (Bulbs, Flowers, Fruits, Leaves, Roots, Stems, Tubers, Fungi and others), Form (Sliced, Chopped, Peeled and others), Application
pune, India - June 17, 2019 /MarketersMedia/ —
Market Insight
As per an insightful report furnished by Market Research Future (MRFR), the global canned vegetables market is projected to display a lucrative growth by 2022; with a stunning growth rate during the forecast period (2017-2022). The MRFR report also adds that the canned vegetables exports are expected to grow over 5% annually after 2022, with Greece, Mexico, Thailand, Turkey, and the United States (U.S.) being the top 5 exporters of canned vegetables.
Growth Factors and Key Barriers
The surge in the vegetable prices has promoted the cost-conscious consumers to go for the cheaper-priced canned products. In addition, crucial factors like the rising adoption of work-oriented busy lifestyles which is leaving people with less or no time to cook combined with the convenience of canned products is stimulating the growth of the canned vegetables market. On top of this, the longer shelf life of canned products compared to the fresh produce lends a significant impetus to the market growth. In addition, with proactive efforts being put in by renowned players in the form of marketing as well as distribution through organized retailing has expanded the customer base for canned vegetables.
The prominent trend in the canned vegetables market is the rise in innovations in packaging. The growth in the demand for chemical-free canned foods is prompting the manufacturers to focus on packaging innovations. Likewise, various canned food brands have now started to offer food in bisphenol A (BPA)-free containers. The surging trend of organic canned vegetables, in addition to the rise in social media marketing and promotions adds to the strength of the worldwide canned vegetables market.
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Having said so, the global canned food packaging market growth encounters major challenges in the form of competition from alternative packaging solutions. But, the high investment in research and development (R&D) combined with the surging demand in Asia Pacific indicates towards the explosion of growth opportunities in the canned vegetables market.
Key Players
The top vendors in the global Canned Vegetables Market are
• Fujian Chenggong Canned Food Co.,Ltd (China),
• Banmai Co., Ltd (Viet Nam),
• Casual Spain (Spain),
• Kyknos (Greece),
• Ukraininan Canning House (Ukrain),
• Domaine Les Bastidettes (France),
• Shenzhen Mingjun Co.,Ltd (China),
• Herfraga (Spain),
• Satko Sarl (Bulgaria)
Recent Developments
May 2019 Goya has hired Goldman Sachs, an investment bank, for weighing their options, which include selling their company. The company sells canned beans and canned seafood among other food products.
Market Segmentation
The global canned vegetable market has been segmented on the basis of type, form, and application.
The market, depending on the type, can be considered for bulbs, flowers, fruits, leaves, roots, stems, tubers, fungi, and others. Between these, the bulb vegetables such as garlic and onion are set to experience the best growth rate in the future.
Form-wise, the market can be segmented based on sliced, chopped, peeled, and others. Among these, the sliced form of canned vegetables controls the most substantial share of the global market, with the strong demand for sliced vegetables in the developed nations across the globe.
In terms of application, the market is categorized into culinary, salads & soups, toppings & dressings, and others. Out of these, the culinary segment is responsible for the biggest share of the worldwide market as a result of the rising use of canned vegetables in households.
Regional Outlook
Europe, Asia Pacific, North America and the Middle East & Africa are the regions where the canned vegetables market is predicted to expand during the review period.
The maximum growth in the Canned Vegetables Market will be displayed by Asia Pacific, which will be followed by North America. Volume wise, the APAC market size is expected to to be more than half of the total market share during the evaluation period. The dominance of the region has been established based on the growth in the disposable income in the developing economies of India and China. In addition to this, the surge in the demand for canned vegetables owing to the prevalence of busy lifestyles has added to the revenue of the regional market of canned vegetables.
In North America, the evolving food habits teamed up with the high level of urbanization has done wonders for the canned vegetables market in the region. Apart from this, the sale of canned vegetables in the region is skyrocketing on account of the high number of supermarkets as well as hypermarkets that offer a wide array of products at reasonable prices.
Europe is predicted to demonstrate remarkable growth in the global canned vegetables market, backed by the rising demand for tamper-proof and sealed steel containers as this type of packaging prevents toxic bacteria from contaminating the food item. With the changing consumption pattern brought on by busy lifestyle led by the regional population, the market is presumed to witness further success soon. Moreover, immense marketing by the regional players with the aim of luring in more consumers substantiates the market growth in the region as well.
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