Market Overview
The global Canned Vegetables Industry is thriving, mainly due to the growing numbers of working populaces worldwide. Due to their hectic lifestyle, working populations are increasingly inclining to convenience foods. Also, consumers prefer canned vegetables more for its convenient packaging and longer shelf life. Besides, the availability of a wide range of vegetables throughout the year is a significant factor driving the consumer preference for canned vegetables.
So, rising consumer preference is a key growth driver for the market. Moreover, the growing trend of organic canned vegetables is escalating the market growth to furthered height, providing growth opportunities for players operating in the canned vegetables industry. According to Market Research Future (MRFR), the global Canned Vegetables Industry is poised to create a valuation of approximately USD 13.2 BN by 2024, growing at 3.7% CAGR during the forecast period (2019–2024).
Rising global economy is a major driving force behind the market increase. The advent of the coronavirus had led people to stock canned veggies. During the lockdown period, more and more people are starting to enjoy the benefits of cooking at home, and canned vegetables are providing a practical option for healthy vegetables. In addition to the strong performance, canned vegetables continued to have higher shelf-stable gains during the epidemic.
Also, canned vegetables have upward pressure on prices since the onset of coronavirus. The increase in sales of canned veggies is boosting the market growth, states the MRFR expert while talking on his COVID-19 Analysis of canned veggies market.
Key Players
Players leading the global Canned Vegetables Industry include Del Monte Foods, Inc (US), Aditi Foods Pvt. Ltd (India), Princes Limited (UK), Delicia Foods India Pvt. Ltd. (India), Bonduelle Group (France), Seneca Foods Corporation (US), Nestlé S.A. (Switzerland), La Doria S.p.A. (Italy), Hirzel Canning Co. & Farms (US), Lam Soon Group (Thailand), B&G Foods, Inc. (US), Acroyali Jade Food Co., Ltd (China), Seprod Limited (Jamaica), McCall Farms (US), and Talia Foods (Turkey), among others.
Market Segmentation:
The report is segmented into four dynamics: -
By Type : Tomatoes, Carrot, Peas, Corn, Spinach, Vegetable Blend, and others.
By Category : Organic and Conventional.
By Distribution Channel : Store-Based, Supermarkets & Hypermarkets, Convenience Stores, Non-Store-Based, and others.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
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Regional Analysis
Europe dominates the global Canned Vegetables Industry. The largest market share attributes to changing consumer preferences and the unavailability of fresh produces during the harsh winter. Besides, the high inclination of the working population towards canned vegetables for convenience of food preparation is driving the regional market.
Moreover, the growing importance of health & wellness among demographics and rapidly growing markets in Germany, the UK, and Russia, support the market growth in the region. Furthermore, the rising economic growth in the region allows the market to flourish, increasing per capita disposable income. The European Canned Vegetables Industry to retain its leading position in the global market throughout the forecast period.
North America stands second in the global Canned Vegetables Industry. The market is majorly driven by the changing food consumption pattern and high consumption of convenience food due to busy schedules. Moreover, the presence of a large number of production bases and consumers drive the market growth, influencing the production volume in the region.
The US is a major growth contributor to the development of the regional market. The North American Canned Vegetables Industry is projected to create a substantial revenue pocket during the review period.
The Asia Pacific Canned Vegetables Industry is growing rapidly. Factors such as the expansion of global players in developing countries of the region and improving economic conditions boost the growth of the market. Moreover, the high production of fresh vegetables in countries like Australia, New Zealand, China, and India contributes to the growth of the market. The APAC Canned Vegetables Industry is anticipated to post the highest CAGR during the assessment period.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.