Canned Vegetables Market Trends, Opportunity Brief Analysis and Industry Forecast Up To 2030
Canned Vegetables Market Synopsis:
As per the analysis offered by Market Research Future (MRFR), the global canned vegetables market is poised to exhibit moderate growth during the forecast period. The population explosion witnessed across the world is driving the demand generation of canned vegetables and is likely to propel the expansion of the market over the next couple of years.
Canned Vegetables Market Size was valued at USD 21.78 Billion in 2021. The Canned Vegetables Market Share is projected to grow from USD 22.65 Billion in 2022 to USD 30.62 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.84% during the forecast period (2022 - 2030).
The growth of employment opportunities coupled with the maturing global economy has led to a rise in the population of the working class. This has led to a shift towards the consumption of convenience food and is projected to expedite the expansion of the global canned vegetables market.
The market players are focusing on the round the year availability of seasoned vegetables. Furthermore, vegetables are not bound to geographical boundaries owing to the growth of canned vegetables market globally. It is likely to attract a larger customer base in the upcoming years.
The consumers are getting aware of the nutritional content of canned vegetables which is expected to drive the growth of the market. However, the addition of preservatives by some market participants is poised to remain an impediment to the expansion of the canned vegetables market.
Market Segmentation:
On the basis of type, the global canned vegetables market is segmented into bulbs, flowers, fruits, leaves, roots, stems, tubers, fungi, and others. Among these, the bulb vegetables segment offers highly lucrative potential and is projected to grow significantly over the assessment period.
On the basis of form, the canned vegetables market is segmented into sliced, chopped, peeled, and others. The sliced segment currently holds the maximum market share and is likely to witness a remarkable increase in demand across the review period.
On the basis of application, the canned vegetables market is segmented into culinary, salads & soups, toppings & dressings, and others. Among these, the culinary segment has been prognosticated to dominate the market over the next couple of years.
Regional Analysis:
The global canned vegetables market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific, in terms of market size, holds over half of the global market share. It is likely to grow exceptionally over the next couple of years. The region houses the maximum population of the world which has been witnessing a constant rise in the standards of living. The accelerated generation of employment opportunities in the region has paved the way for the growth of Canned Vegetables Market Trends. The consumer behavior pattern is the region is presumed to shift towards the consumption of convenience food in the foreseeable future. Meanwhile, North America is expected to trail Asia Pacific in terms of market size and grow substantially over the assessment period.
Competitive Dashboard:
Some of the key players profiled in the report are Herfraga (Spain), Kyknos (Greece), Banmai Co., Ltd (Viet Nam), Mediterranea Belfiore SRL (Italy), Casual Spain (Spain), Satko Sarl (Bulgaria), Ukrainian Canning House (Ukraine), Shenzhen Mingjun Co.,Ltd (China), Fujian Chenggong Canned Food Co.,Ltd (China), and Domaine Les Bastidettes (France).
Industry News:
In January 2019, Landec Foods, a leading innovator of diversified health and wellness solutions, has announced the creation of Curation Foods which encompasses five food brands: Now Planting, O Olive Oil and Vinegar, Eat Smart, and Yucatan and Cabo Fresh. The company has moved from a packaged vegetable company to a branded, natural food company.
In September 2018, Del Monte Foods, U.S. subsidiary of Del Monte Pacific Limited, has initiated marketing campaign “Growers of Good™” which is focused on the brand’s relationship with its farmers.
In June 2018, B&G Foods, a holding company for branded food, has added Green Giant Veggie Spirals and other innovative products to its product line ‘Green Giant frozen innovation.
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