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Colombia Canned Food Market - Forecasts from 2022 to 2027

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    Report

  • 72 Pages
  • January 2023
  • Region: Colombia
  • Knowledge Sourcing Intelligence LLP
  • ID: 5743413
The Colombia canned food market is projected to grow at a CAGR of 5.42% during the forecast period to reach US$189.275 million by 2027, from US$130.792 million in 2020.

Canning is a method of preserving food for a longer time by using air-tight containers. The canning process varies by product but usually, it involves three steps - processing, sealing, and heating the cans to kill harmful bacteria and prevent spoilage. Commonly used canned foods include fruits, vegetables, beans, soups, meats, and seafood. The major advantage of canned food is that it is affordable, convenient to carry, and has a longer shelf life. In recent times canned food consumption is increasing among people particularly working people as canned food requires less time to prepare, provides a nutrient-based diet, and has long storage potential.

An increase in urbanization coupled with an increase in income is expected to boost the market for Colombia canned food market.

Colombia is the third most populous country in South America with 80% of people living in urban areas. Urbanization is showing an upward movement in the region due to changes in income resulting in changes in lifestyle patterns. Colombia has a huge consumer base in the processed food sector particularly. The demand for canned food is rising due to working individuals as it requires less preparation time. In addition to that, canned tuna, canned meat, canned beans, canned tomatoes, and canned soups consumption is increasing.

Furthermore, supermarkets, domestic and international grocery chains opening new stores, and discount stores selling affordable processed foods are propelling the growth of canned food in Colombia. Moreover, according to the National Statistical Department (DANE), 42.7% of Colombians do not have a balanced diet and 50% of the people suffer from obesity and overweight conditions. Therefore, demand for foods without unsaturated fats, sugar-free content, and food made in edible oil is increasing in the region, as rising the demand for canned beans, and canned vegetables in the region.

Product Offerings

  • SPAM Pork Ham - by Hormel Corporation Colombia. The product contains fully cooked ham with ingredients such as pork ham, salt, water, modified potato starch, sugar, and sodium nitrite.
  • Diced Tomatoes - by Del Monte. The product contains diced tomatoes with green peppers and onions. The product does not contain preservatives and artificial flavors.

COVID-19 Insights

COVID-19 had a significant impact on the Colombia canned food Market. Canned Food witnessed an increasing demand during the pandemic in the region due to longer shelf-life requirements and healthy food consumption which included canned vegetables, canned chickpeas, canned fruits, and canned meat. Many retailers and hypermarkets sold products on online platforms which increased online shopping from grocery and retail outlets in the region. Moreover, plant-based canned food witnessed an increasing demand from consumers as a result of healthier dietary options. In addition to that, discount stores and their online presence increased in the region as people preferred cheaper products with nutritious labels that contained ingredients like vegetable oil.

Market Segmentation:

By Type

  • Organic
  • Inorganic

By Product Type

  • Canned Meat
  • Canned Fish/Seafood
  • Canned Fruits and Vegetables
  • Canned Beans and Legumes
  • Others

By Distribution Channel

  • Supermarket/Hypermarket
  • Convenience Stores
  • Online
  • Others
Frequently Asked Questions about the Colombian Canned Food Market

What is the estimated value of the Colombian Canned Food Market?

The Colombian Canned Food Market was estimated to be valued at $130.79 million in 2020.

What is the growth rate of the Colombian Canned Food Market?

The growth rate of the Colombian Canned Food Market is 5.4%, with an estimated value of $189.28 million by 2027.

What is the forecasted size of the Colombian Canned Food Market?

The Colombian Canned Food Market is estimated to be worth $189.28 million by 2027.

Who are the key companies in the Colombian Canned Food Market?

Key companies in the Colombian Canned Food Market include Fresh Del Monte Produce Inc., Hormel foods Corporation and Conagra Brands.

Table of Contents

1. INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry

5. COLOMBIA CANNED FOOD MARKET BY TYPE
5.1. Introduction
5.2. Organic
5.3. Inorganic

6. COLOMBIA CANNED FOOD MARKET BY PRODUCT TYPE
6.1. Introduction
6.2. Canned Meat 
6.3. Canned Fish/Seafood
6.4. Canned Fruits and Vegetables
6.5.  Canned Beans and Legumes
6.6. Others

7.  COLOMBIA CANNED FOOD MARKET BY DISTRIBUTION CHANNEL
7.1. Introduction
7.2. Supermarket/Hypermarket
7.3. Convenience Stores
7.4. Online
7.5. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES
9.1. Fresh Del Monte Produce Inc
9.2. Hormel Foods Corporation
9.3. Conagra Brands
*Not an exhaustive list

Companies Mentioned

  • Fresh Del Monte Produce Inc.
  • Hormel foods Corporation
  • Conagra Brands

Methodology

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