The global canned meat market is estimated at USD 13,644.8 million in 2023. Furthermore, with the growing demand for convenient and protein-rich foods, the overall demand for canned meat is slated to grow at a robust CAGR of 6.8% between 2023 and 2033, totaling a valuation of around USD 25,405.5 million by 2033.
Canned meat refers to meat that is preserved in cans or tins. It is cooked or raw, usually chopped and processed into cans for long-term storage. It contains many essential nutrients such as proteins, omega-3 fatty acids, fiber, etc., and has become an ideal nutritious option where fresh meat is unavailable.
With growing health awareness, the demand for protein-rich and convenient foods has witnessed a significant rise during the last few years, and the trend is likely to continue during the forecast period. This will create lucrative opportunities for canned meat manufacturers.
People spend large amounts on canned products such as canned beef, pork, and canned poultry. Among these, the poultry meat segment has the largest market share. It is easy to store and can be stored longer than others. Canned meat is labeled with the product's ingredients and expiration dates.
Regionally, North America remains at the top of the ladder in the global canned meat market, accounting for around 38% value share. The canned meat market in North America currently stands at around USD 4.8 Billion.
| Attribute | Key Statistics |
|---|---|
| Canned Meat Market Estimated Size (2023E) | USD 13,644.8 million |
| Projected Market Size (2033F) | USD 25,405.5 million |
| Value-based CAGR (2023 to 2033) | 6.8% |
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The global canned meat market grew at a moderate growth rate of 5.8% CAGR during the historical period between 2018 and 2022. However, with the rising popularity of canned meat products due to their high nutritional profile and increased shelf life, the global market is set to grow at a healthy CAGR of 6.6% during the forecast period (2023 to 2033).
Canned meat provides high-quality protein-rich food that is stable at ambient temperatures and is very convenient. It is less expensive and has an extended shelf life than fresh meat products. Rising consumer awareness about the various benefits of canned meat products is expected to boost market growth over the assessment period.
Manufacturers employ various methods and technologies to make canned meat products. Salting, curing, and smoking are some of the methods used to improve the taste and keep the attributes of these meat products. As a result of the fast-paced lifestyle and growing population of salaried workers, growing demand for ready-to-eat food products is likely to boost market expansion during the forecast period.
Similarly, increasing demand for processed and convenient food products due to shifts in purchasing habits of customers, rising health awareness among people, and advancements in manufacturing technology will spur market growth during the forthcoming years.
People prefer processed foods because they take less time to prepare, which will help the processed meat market develop over the next two years.
Rising Demand for Canned Seafood Driving the Global Canned Meat Market
The demand for canned fish and seafood in the canned meat category has been steadily increasing, owing to consumer knowledge of the nutritional benefits of seafood, ease of eating, and the longer shelf life they offer.
Demand for canned seafood is especially surging across Asia-Pacific due to the rapidly growing population, increasing consumer spending, and lifestyle changes.
Asia-Pacific is the world's largest exporter and importer of seafood as of 2017. Although canned fish consumption is low in the region since most people in Asia-Pacific prefer fresh seafood, demand for canned seafood is higher than demand for frozen seafood because canned seafood is not readily available locally.
Pasteurized crab meat, for example, is one of the most popular canned seafood products in Asia-Pacific countries, second only to canned fish like tuna.
Principal Consultant
Booming Food Processing Business Creating Opportunities For Canned Meat Manufacturers in the United States
As per FMI, the United States' canned meat market is expected to grow healthy during the forecast period, owing to the rising consumption of processed food products, changing lifestyles, and the heavy presence of leading manufacturers.
The United States is one of the primary countries in North America that has made tremendous progress in the food processing sector in recent years. The processed food business in the country plays a significant role in its economy.
Consumers' changing lifestyles and tastes and demographic development are pushing the food processing business in the United States, resulting in increased demand for canned meat.
Rise in Meat-Consuming Population Pushing Demand for Canned Meat in the United Kingdom Market
With rising consumer spending on canned beef and pork, the United Kingdom will continue to lead the Europe canned meat market, currently standing at USD 3.9 Billion.
Pork and beef are extensively consumed in the United Kingdom due to their reduced cost and greater taste in meals. A big migrant population in the country has boosted market expansion. The country's cross-cultural food trend has led to the use of canned meat in various culinary preparations.
Canned meat products are used in households and fast-food chains to make sandwiches, burgers, and other products. Thus, a rapid surge in meat consuming population coupled with the growing usage of canned meat for making a variety of dishes is expected to propel canned meat sales in the United Kingdom during the forecast period.
Demand for Canned Poultry Products Remains High in the Market
In 2020, the poultry category dominated the global canned meat market with more than 41% of worldwide revenue, and it is poised to grow at a higher CAGR during the forecast period. This can be attributed to the rising consumption of chicken meat across the globe.
Global chicken meat production reached around 100,026 thousand metric tonnes in 2020, up from 92,726 thousand metric tonnes in 2018. In 2019, China was the largest consumer of poultry meat, using 20 million tonnes, followed by the United States, which consumed 19 million tonnes.
Growing consumer inclination towards consuming poultry products will continue to trigger the growth of this segment during the forecast period.
Supermarkets & Hypermarkets to Witness Highest Canned Meat Sales
In 2021, the supermarket & hypermarket distribution channel segment dominated the global market, accounting for more than 40% of total sales, and the trend is likely to continue during the assessment period.
Supermarkets and hypermarkets are the most important distributors of canned meat, offering consumers a one-stop solution for various items. As a result, this distribution channel draws a larger portion of the global population. However, as market players expand their spending in product distribution, the online distribution channel category is predicted to witness significant growth between 2023 and 2033.
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There are a few established participants in the market and some start-ups. Players are in fierce competition since some are among the top manufacturers with a huge customer base in both regional and international markets.
The industry is expanding and shifting toward sustainability, which presents a significant opportunity for businesses to gain sales from health-conscious consumers. Established companies have been updating their canned meat manufacturing procedures to keep up with shifting trends.
For instance
Some important players operating in the canned meat market are JBS, Hormel Foods Corp., Tyson Foods, Inc., Wild Planet Foods, Bolton Group, Vion Food Group, Mundella Foods, Campbell Soup Company, Smithfield Foods, Valleyfresh Global.
Hormel Foods Corp, Bolton Group, and Vion Food Group: A Meat Lover's Guide to Protein-Rich and Hygienic Canned Meat Products
Since its establishment in 1849, Bolton Group has provided high-quality and hygienic meat products to millions of people worldwide. The firm produces environmentally friendly packaging for its offerings, including meat products.
In 2019, Bolton Group acquired Trimarin, a leading company in the tuna industry known for its commitment to sustainability. This acquisition strengthened Bolton Group's position as a worldwide player in the sustainable seafood sector.
The Bolton Group is also committed to sustainability, as seen by initiatives to transition its seafood portfolio from 70% sustainably fished to 100% sustainably harvested by 2024. For instance, In August 2021, Bolton Group acquired Wild Planet Foods, a leader in the United States sustainable canned meat market. With this transaction, the corporation wishes to expand its international development and sustainability portfolio.
Vion is another leader in the canned meat space, which supplies meat, meat products, and plant-based alternatives to its customers. The firm transforms fresh beef into semi-finished and completed goods for the local and international retail sectors, especially Vion Food Service. The company uses various strategies such as strengthening distribution channels, integrating advanced machinery, and acquisitions to expand its customer base.
For instance, in February 2021, Adriaens, a meat utility located in Belgium, was acquired by Vion Food Group. With this acquisition, the firm hoped to build a strong supply chain to assure quality and transparency in the beef market. Furthermore, this acquisition would strengthen Vion's presence in the Western European market, particularly in Germany and the Netherlands.
Similarly, Hormel Foods has become a global leader in canned meat. Apart from making great food, the company strives to make a difference for its customers, team members, consumers, shareholders, and the communities where it works.
For instance, in June 2023, HORMEL NATURAL CHOICE products announced its newest product, HORMEL NATURAL CHOICE Sandwich Pepperoni, to help consumers satisfy their pepperoni appetites while ensuring a flavor-forward, 100 percent natural experience. From snacks to meals, the versatility of Hormel Natural Choice Sandwich Pepperoni allows for limitless shared culinary choices with family and friends.
In July 2018, Hormel Foods increased its meat product offering by launching canned chili, a canned meat product manufactured with 100% Angus beef. With this development, the business hoped to sell canned chili with soft pieces flavored with various spices. The product is available with or without beans and has no artificial additives, preservatives, or fillers.
A valuation of USD 13,644.8 million is attributed to the canned meat market in 2023.
The global canned meat market size is anticipated to surpass USD 25,405.5 million by 2033.
The canned meat market is projected to accelerate at a CAGR of 6.8% between 2023 and 2033.
Rising processed food consumption makes the United States a lucrative canned meat market.
The canned meat market experienced a steady 5.8% CAGR between 2018 and 2022
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Meat Type 5.1. Beef 5.2. Seafood 5.3. Poultry 5.4. Pork 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 6.1. Supermarket & Hypermarket 6.2. Specialty Store 6.3. Online 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. JBS 17.2. Hormel Foods Corp. 17.3. Tyson Foods Inc. 17.4. Wild Planet Foods 17.5. Bolton Group 17.6. Vion Food Group 17.7. Mundella Foods 17.8. Campbell Soup Company 17.9. Smithfield Foods 17.10. Valleyfresh Global 18. Assumptions & Acronyms Used 19. Research Methodology
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