Canned Food Market will exhibit a CAGR of 1.30% during the forecast period, 2020-2027, and reach USD 100.92 billion by the end of 2027,and the market value as per 2019 wasUSD 91.90.
Fortune Business Insights™ titled, “Canned Food Market Size, Share & COVID-19 Impact Analysis, By Type (Canned Seafood, Canned Fruits and Vegetables, Canned Meat, and Others), Distribution Channel (Supermarkets/ Hypermarkets, Specialty Stores, and Online Retail), and Regional Forecast, 2020 – 2027,”
Canned Food Market Drivers and Restraint :
Increasing Number of Company Mergers will Have a Direct Impact on Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of number of company mergers and acquisitions as well as collaborations has made the highest impact on market growth. Major companies are looking to collaborate with each other with a view to maximizing the use of resources and subsequently acquire a wider consumer base. In February 2020, B&G Foods announced that it has completed the acquisition of a renowned canned food manufacturer. The company acquired Farmwise LLC., a global manufacturer of canned vegetables. Through the acquisition of US-based Farmwise, B&G Foods will look to improve its range of plant-based protein foods. This acquisition will help the company improve its global business in the coming years. B&G’s acquisition of Farmwise LLC will also influence the growth of the overall canned foods market in the coming years.
List of Significant Canned Food Market Manufacturers are as follows:
The Kraft Heinz Company (United States)
- Bolton Group S.r.l. (Italy)
- Campbell Soup Company (United States)
- Conagra Brands, Inc (United States)
- Nestlé (Switzerland)
- Danish Crown AmbA (Denmark)
- Del Monte Foods, Inc (United States)
- JBS USA Holdings, Inc. (United States)
- Ayam Brand (Singapore)
- Holyland Marketing Private Limited (India)
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/canned-food-market-103258
Some of the key industry developments in the Canned Food Market Include:
April 2020: Baxters Food Group Limited announced the launch of a new range of vegan tin-canned soups in three flavours-Jackfruit, Three Bean & Chipotle; Sri Lankan Sweet Potato; and Butternut Squash & Lentil Dhansak.