Canned Food Market Research Reports, Analysis & Trends
According to MarketLine, the Asia-Pacific canned food industry recorded an excellent growth of over 4% between 2006 and 2010, with the value reaching approximately US $15 billion by the end of 2010. Canned meat products market accounted for 48% with $7 billion and the market growth is expected to accelerate to the yearly rate of 4.5% till 2015 and the expected value to be reached is over $18 billion by the end of 2015. Current trends indicate that the canned foods industry market might struggle over the five year period due to rising production costs that are basically passed on to the customer.
An increased number of marketing campaigns have been taking place across the world with the focus on nutrition and innovation in the canned vegetables, canned fish and canned soup categories that are promoted to offer better quality, thus in helping to fuel this growth. The global canned food industry market recorded more than 2.5% growth in 2010 and generated over $80.7 billion and according to MarketLine the canned food industry market is expected to grow with 15% expansion from 2010 to 2015 and the generated value is expected to exceed over $92.7 billion by the end of 2015.
Current Trends in Canned Food Market
The global sugar and sugar substitute industry is currently in an exponential growth mode and expansion as well. The food processing industry basically has been doing well since last few decades and it is for a number of reasons, most important being the consumer awareness in more areas than just the sugar substitutes. The urban population has become aware and also careful to know where the food is coming from, how it is processed, ingredients and additives included and many more factors and when all the advancements in the sugar substitutes play an impressive and important role to pass it as a healthy and necessary product, it becomes a part of the booming market as consumers accept it without second thought.
Today, there are a number of different sugar substitutes available in the market and each type is different to some degree and there is no one generic sugar substitute that properly applies to every product. With multiple products to choose from now, those different products require different sugar substitutes for maximum effectiveness in each of their application. The natural and artificial sugar substitute is the fastest growing segment of the sweetener market and it is expected to reach over $13.76 billion by the end of 2018, according to market research firm Markets and Markets, with 4.5% CAGR. And in terms of volume, the sugar substitutes market is estimated to reach 16,687.0 kilo tons by the end of 2018, at a growth pace of CAGR of 1%.
Major Canned Food Industry Players
Major players in the canned food industry include, Baxters Food Group Ltd, Del Monte (Uk) Ltd, Glenryck Foods Ltd, Gondola Group Ltd, Hjheinz Co Ltd, John West Foods Ltd, Petty, Wood And Co Ltd, Premier Foods Plc, Princes Ltd, Simpson Ready Foods Ltd, and Tulip Ltd.