SAN FRANCISCO, Jan. 20, 2022 /PRNewswire/ -- The global canned meat market size is anticipated to reach USD 16.24 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.2% from 2021 to 2028. The growing popularity of processed food and increasing per capita spending along with rapid urbanization are expected to fuel the product demand across the world. The poultry segment accounted for the largest meat-type segment in the global market in 2020.
Key Insights & Findings from the report:
- The poultry meat segment accounted for the maximum revenue share of the global market in 2020 on account of the increased poultry meat production across the world
- In terms of distribution channel, the supermarket & hypermarket segment accounted for the highest revenue share in 2020
- On the other hand, the online distribution channel segment is estimated to register the fastest CAGR from 2021 to 2028
- North America held the largest revenue share of over 32% in 2020 due to significant developments in the region pertaining to the food processing sector
- The market is largely fragmented with both domestic and international players sharing the space
- Product innovations, new launches, investments, and expansion emerged as the key strategies deployed by the majority of the market players to stay abreast of the competition
Read 75 page market research report, "Canned Meat Market Size, Share & Trends Analysis Report By Meat Type (Seafood, Pork, Poultry), By Distribution Channel (Supermarket & Hypermarket, Online), By Region (North America, APAC), And Segment Forecasts, 2021 - 2028", by Grand View Research
The growing consumption of poultry meat across the world is expected to fuel the segment growth. Global poultry meat consumption in 2019 accounted for 128.7 million tons and reached 131.2 million tons in 2020. Canning has become a well-known technique for preserving meat that enables superior dispersion of meat supply throughout the year.
The supermarket & hypermarket distribution channel segment accounted for the maximum revenue share in 2020. With the young and metropolitan populace growing significantly across the world, product distribution through supermarkets and hypermarkets is expected to increase. The growing product distribution through online retailing channels is also expected to fuel the market growth. North America emerged as the largest regional market in 2020. The regional market is driven by the dynamic and fast-paced lifestyle of consumers, credited to rapid urbanization. In addition, advancements in food processing and increasing consumption of ready-to-eat (RTE) food in the region are expected to drive the product demand.
Grand View Research has segmented the global canned meat market based on meat type, distribution channel, and region:
- Canned Meat Type Outlook (Revenue, USD Million, 2016 - 2028)
- Canned Meat Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
- Supermarket & Hypermarket
- Specialty Store
- Canned Meat Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
List of Key Players of Canned Meat Market
- Hormel Foods Corp.
- Tyson Foods, Inc.
- Wild Planet Foods
- Bolton Group
- Vion Food Group
- Mundella Foods
- Campbell Soup Company
- Smithfield Foods
- Valleyfresh Global
Check out more studies related to canned foods, published by Grand View Research:
- U.S. Canned Foods Market – The U.S. canned foods market size was estimated at USD 16.35 billion in 2017. Improvement in distribution infrastructure and the resultant increasing popularity of ready-to-eat food products, coupled with the affordability of canned foods and changing lifestyles are expected to propel the industry growth over the forecast period.
- Canned Seafood Market – The global canned seafood market size was estimated at USD 21.50 Billion in 2016. Increasing popularity of ready-to-eat seafood products due to improvement in distribution infrastructure is anticipated to drive the industry growth.
- Canned Mushroom Market – The global canned mushroom market size was valued at USD 7.3 billion in 2018. Shifting consumer preference towards healthy and protein-rich food is a key factor driving the product demand over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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