Canned Meat Market Growing Rapidly in its near future!!!

Canned Meat Industry Overview

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. 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.

 

Canned Meat Market Segmentation

Grand View Research has segmented the global canned meat market based on meat type, distribution channel, and region:

 

Based on the Meat Type Insights, the market is segmented into Beef, Seafood, Poultry, Pork, and Others

  • The poultry segment led the market and accounted for more than 41% share of the global revenue in 2020. Steadily increasing consumption of poultry meat is expected to fuel the demand for canned poultry meat during the forecast period.
  • The seafood segment is likely to expand at the fastest CAGR over the forecast period. The growing demand for processed seafood from developing countries is expected to drive the segment growth. For instance, the processing levels of seafood in India are currently at 23%, which represents significant potential for seafood processing players. The increasing per capita seafood consumption is further expected to stimulate the demand for canned seafood. For instance, per capita seafood consumption in China increased from 25.4 kgs in 2004 to 35.9 kgs in 2020.

 

Based on the Distribution Channel Insights, the market is segmented into Supermarket & Hypermarket, Specialty Store, Online, and Others

  • The supermarket & hypermarket distribution channel segment led the global market and accounted for more than 40% share of the overall revenue in 2020. Supermarkets & hypermarkets are one of the key distributors of canned meat providing a one-stop solution for consumers by offering various products, due to which this distribution channel attracts a larger chunk of consumers in the world.
  • Moreover, rapid growth in e-commerce, owing to wider distribution networks and product availability, generates significant opportunities for market players in the market and has influenced manufacturers to sell their products through online distribution channels. The COVID-19 pandemic has resulted in the online distribution channel becoming one of the most important distribution networks among manufacturers, distributors, retailers, and customers.

 

Canned Meat Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Key Companies Profile & Market Share Insights

The market includes a combination of a few established players and several start-ups. Players face intense competition from each other as some of them are among the top manufacturers and have a large customer base for their products in both regional and international markets. Moreover, these market players have strong and vast distribution networks, which help them reach a wider customer base.

Some of the key players operating in the global canned meat market include:

  • JBS
  • Hormel Foods Corp.
  • Tyson Foods, Inc.
  • Wild Planet Foods
  • Bolton Group
  • Vion Food Group
  • Mundella Foods
  • Campbell Soup Company
  • Smithfield Foods
  • Valleyfresh Global

 

Order a free sample PDF of the Canned Meat Market Intelligence Study, published by Grand View Research.

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