Latest News- Canned Ambient Food Product Market: Conventional is expected to lead the Type segment during 2024-2028

The Canned Ambient Food Product Market is being driven by Rise in disposable income

The Canned Ambient Food Product Market is expected to grow at a CAGR of 4.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 58.34 billion. The global canned ambient food market is undergoing a transformative phase, fueled by the increasing demand for plant-based options. This trend is most pronounced in key markets, such as the US and Canada, where consumer preferences and dietary habits are evolving. In the US, the vegetarian and vegan population has expanded, with an estimated 9.7 million vegetarians and 1 million vegans as of 2023, equating to 5%-8% of the population. A comparable demographic shift is observable in Canada, where approximately 2 million individuals identified as vegan in 2022. Moreover, India represents a significant market opportunity, with 24% of its population adhering to a vegan lifestyle in 2023. These trends underscore the growing importance of plant-based canned ambient food products in the global market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Conventional
  • Organic
• Distribution Channel
  • Offline
  • Online
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in disposable income
• Growing demand for convenience foods
• Increasing awareness regarding healthy eating

However, the market also witnesses some limitations, which are as follows:

• Growing cases of product recalls
• Competition from alternatives
• Sustainability and environmental concerns associated with canned food items

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Market Scope in Canned Ambient Food Product Market Research Report

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Research Analysis Overview

The canned food market encompasses canned goods such as fruits, vegetables, meats, and fish, with a focus on sustainability and healthiness. Long shelf life and reduced food waste are key advantages. Wageningen University studies show consumers prioritize freshness and country-of-origin. Global trends include premiumization, with smoked salmon and Sichuan Chili Crisp leading the way. Convenience, social media, and food activism drive growth. Plant-based foods, nutritional powerhousing, and healthy diets address chronic diseases, offering opportunities for women-owned brands. Climate change, charity, and nutrients like carbohydrates and proteins are also influencing the market.

Market Research Overview

The canned ambient food product market encompasses businesses engaged in the production and processing of canned goods, extending their shelf life and ensuring food safety. According to Technavio, the global market size is determined by the consolidated revenue of participating vendors. This sector excludes equipment manufacturers and producers of packaged beverages, including alcoholic and non-alcoholic varieties. Market expansion will be fueled by the health benefits of consuming minimally processed canned foods, such as vegetables, which are rich in essential nutrients including potassium, dietary fiber, folate, vitamin A, and vitamin C. Sustainability and reducing food waste are additional factors contributing to the market's growth trajectory. Premiumisation, or the shift towards higher-end, value-added canned food products, is another significant trend shaping the industry landscape.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/