Canned Meat Global Market Report 2024

Canned meat, a convenient and readily available source of nutrition, consists of fresh and ready-to-eat meat preserved through cold storage. Packed with proteins, omega-3 fatty acids, fibers, and essential nutrients, canned meat offers a balanced diet. Its popularity stems from the longer shelf life and ease of preservation it provides.

The primary categories of canned meat include seafood meats, poultry meats, red meats, and other variations. Poultry meats encompass canned options derived from chicken, goose, duck, turkey, game birds, and rabbit, employing freezing methods to preserve the meat at specific temperatures. Distributed through supermarkets, hypermarkets, specialty stores, online platforms, and various distribution channels, canned meat serves diverse applications, catering to private, commercial, and industrial use.

The canned meat market research report is one of a series of new reports that provides canned meat market statistics, including canned meat industry global market size, regional shares, competitors with a canned meat market share, detailed canned meat market segments, market trends and opportunities, and any further data you may need to thrive in the canned meat industry. This canned meat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The canned meat market size has grown strongly in recent years. It will grow from $16.34 billion in 2023 to $17.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The historical growth of canned meat can be attributed to its convenience, extended shelf life, utilization in military and emergency rations, increased focus on pandemic and crisis preparedness, and its affordability. Additionally, the demand surged due to its relevance in global exploration and expeditions, where a reliable and easily preserved source of nutrition is crucial.

The canned meat market size is expected to see strong growth in the next few years. It will grow to $22.59 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The forecasted growth of canned meat is expected to be driven by the increasing demand from health-conscious consumers who seek convenient and nutritious options. The market is also anticipated to benefit from the growing popularity of diverse flavor profiles, along with the emergence of premium and gourmet canned meat choices. Sustainable and ethical sourcing practices are expected to play a significant role in shaping consumer preferences. Furthermore, the rise of e-commerce and direct-to-consumer sales channels is likely to contribute to the market's expansion. Key trends in the forecast period include the demand for clean label products, gourmet and artisanal offerings, the adoption of plant-based and alternative proteins, the introduction of premium and limited-edition varieties, and the exploration of diverse meat sources.

The canned meat market is anticipated to experience growth driven by the increasing demand for canned seafood. Canned seafood, encompassing edible sea life like fish and shellfish, is gaining popularity due to its convenience and high protein content. As per the IRI Worldwide seafood update report in May 2022, frozen seafood sales surpassed fresh seafood sales, with frozen reaching $643 million and fresh at $618 million. Notably, shelf-stable seafood, including canned and pouched options, experienced a notable increase of 7.8% in both sales and volume, indicating a surge in demand for canned seafood and contributing to the growth of the canned meat market.

Additionally, the canned meat market is set to benefit from the growing demand for ready-to-eat food products. Ready-to-eat food, which requires no cooking or reheating before consumption, includes canned meat products. A survey by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) in 2021 revealed that over 79% of Indian households prefer instant food due to time constraints. This preference for convenient, ready-to-eat options is expected to fuel the growth of the canned meat market.

A prominent trend in the canned meat market is the emergence of strategic partnerships among major companies in the sector. These partnerships are aimed at fortifying market positions and fostering innovation. In October 2021, Hormel Foods Corporation, a leading US-based canned meat manufacturer, entered into a partnership with The Better Meat Co, a US-based food processing company. The collaboration focuses on developing the next generation of sustainable alternative protein products using The Better Meat Co.’s innovative Rhiza mycoprotein ingredient. Furthermore, in May 2021, Dada Group, a China-based on-demand delivery and retail platform, partnered with Tyson Foods, a prominent US-based canned meat processor. This strategic alliance positions Dada Group at the forefront of on-demand retail in China's fresh meat category, showcasing the trend of strategic partnerships as a driving force in the canned meat market.

Major players in the canned meat market are actively engaged in the development of innovative products, such as canned vegan meat, to cater to evolving consumer preferences. Canned vegan meat, a type of food product crafted from vegetarian or vegan ingredients, serves as a meat substitute. In August 2022, OTS Holdings, a Singapore-based company specializing in food product manufacturing, introduced SPAM-style canned vegan meat. The distinctive features of ANEW's plant-based canned meat include ingredients like wheat, soy protein, vegetable juice, and Eucheuma Seaweed, offering consumers a vegan-friendly alternative.

In August 2021, Bolton Group, an Italian consumer products manufacturer, successfully acquired Wild Planet Foods for an undisclosed amount. This strategic move not only enhances Bolton Group's presence in the US tuna market but also fosters collaboration between the two companies to establish a responsible and excellent supply chain. Wild Planet Foods, based in the United States, is recognized for its expertise in the production of canned meat.

Major companies operating in the canned meat market include Xiamen Gulong Canned Food Co. Ltd., Tyson Foods Inc., Wild Planet Foods Inc., Radiant Farms Inc., Survival Cave Food, JBS S.A., Key Food Stores Co-op Inc., Crown Prince Inc., Bar Harbor Foods Inc., Zishan Group Co. Ltd., Libby's Brand Holding Inc., Radiant Farms Ltd., Dalian Lixiang Food Co. Ltd., Hormel Foods Corporation, American Tuna Inc., Bumble Bee Seafoods LLC, Maruha Nichiro Corporation, Vion Food Group NV, Conagra Brands Inc., Thai Union Group, Trident Seafoods Corporation, JBS SA, Bolton Group Ltd., Princes Group Ltd., Cargill Meat Solutions Corp., Keystone Foods LLC, Nestle S.A., Campbell Soup Company, Pinnacle Foods Inc., BRF S.A.

North America was the largest region in the canned meat market in 2023. Asia-pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the canned meat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the canned meat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The canned meat market consists of sales of whole muscles, meat stews, luncheon meat, sausages, sauces with meat pieces, and paste products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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