rise in disposable income is driving the Canned Ambient Food Product Market
Technavio analyzes that 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.There are various factors that contribute to the growth of the market. The Canned Ambient Food Product Market has experienced significant growth due to the increasing disposable income of consumers. This trend is particularly noticeable in developing economies where people are transitioning from traditional food consumption patterns to more convenient and conveniently packaged options. The canned ambient food sector offers a wide range of products that cater to various dietary preferences and lifestyles, making it an attractive choice for consumers seeking affordable and long-lasting food solutions. The market is further expected to grow as more consumers prioritize convenience and affordability in their food choices.
In the canned ambient food market, women-owned brands have gained significant traction due to their focus on nutritional powerhousing. These brands prioritize the inclusion of essential nutrients, such as carbohydrates, proteins, and healthy fats, in their canned fruits and vegetables. Chronic diseases, including obesity and diabetes, have heightened consumer awareness of the importance of maintaining a healthy diet. Canned fruits and vegetables, as nutrient-dense options, cater to this demand. Retail channels, including supermarkets, grocery stores, and specialty food retailers, play a pivotal role in making these products accessible to diverse demographics and geographic regions. Products range from single-ingredient peaches, pears, pineapples, tomatoes, green beans, corn, peas, and mixed vegetables to provide versatility for various culinary applications. The canned fruits and vegetables segment thrives in both retail and wholesale distribution channels, ensuring wide availability and affordability for consumers.
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Canned Ambient Food Product Market Segmentation
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The canned food market encompasses canned goods like fruits, vegetables, meats, and fish, with a focus on sustainability and healthiness. Long shelf life and reduced food waste are key benefits. Wageningen University studies show consumers prioritize fresh food, leading to opportunities for premium canned products like Smoked Salmon and Sichuan Chili Crisp. Global trends include country-of-origin effects, ethnic food trends, convenience, and social media influence. Premiumization, plant-based foods, and nutritional powerhousing are driving growth. Climate, charity, women-owned brands, and healthy diets are also factors. Chronic diseases and healthy nutrients, such as carbohydrates and proteins, are important considerations. Food activism and charity initiatives are shaping the industry.
The canned ambient food product market encompasses businesses engaged in the production and processing of canned goods to ensure food safety and prolong shelf life. According to Technavio, the market's size is determined by the consolidated revenue of the participating vendors. This market segment excludes equipment manufacturers and producers of packaged alcoholic and non-alcoholic beverages. Key growth drivers for the canned ambient food product market include the health benefits linked to the consumption of minimally processed foods, such as canned vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C, reducing food waste, and the trend towards premiumization in the food industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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