Canned Meat Market-Overview:
Canned meat products are prepared by securely sealing the product in the container and further heat processing to kill bacteria. They have grown in popularity, particularly in the COVID pandemic-induced lockdown due to panic stockpiling. As per MRFR, the market is projected to earn USD 13.70 Billion by 2028 while growing at a CAGR of 2.4%.
The worldwide canned meat market is predicted to rise as consumers become more aware of the nutritional benefits of canned meat. Due to the growing popularity of ready-to-cook meat and fish among consumers, the canned meat market is growing steadily in the forecast period.
Segmental Analysis:
The segmental study of the Canned Meat Market Report is conducted based on meat type and distribution channel. The meat-type segment of the canned meat market consists of pork, poultry, beef, and seafood. The region segment of the canned meat market consists of Europe, North America, Asia-Pacific, and other vital regions. The distribution channel segment of the canned meat market consists of store-based and non-store-based.
Detailed Regional Analysis:
With the clientele base becoming more aware of the health benefits of canned meats, North America dominated the worldwide canned meat market in 2021. North America's largest market for canned meat is the United States. With frequent product advancements by numerous leading competitors in the North American market, this share is likely to grow considerably throughout the forecast period. Europe has a significant part of the canned meat business. The canned meat business in Germany, the United Kingdom, Denmark, and other European countries generates a lucrative market for existing players. The demand for canned meat in this region has been fuelled by customers' increasing reliance on processed foods with longer shelf lives. Furthermore, the introduction of many standardized, organized eCommerce channels in emerging nations is important to strengthen canned meat demand in Europe over the projection period.
Competitive Analysis:
The market's future aims are expected to be further impeded by the fortifying impacts of government policies. With the restoration of free cash flows, the market's requirement for sustainability is expected to be leveraged. It is anticipated that market variables that have not been exploited will be used to strengthen the market's potential in the near future. The market's segment is estimated to get less intense as the forecast period advances. The increased attention on external business issues is expected to improve numerous market segments on a global scale. During the forecast period, the growth is projected to evolve at a fairly steady pace. The market's benefactors are expected to contribute significantly in a consistent, sustainable manner to the market's developing demand. Furthermore, the market's recent innovations are expected to dramatically impact the market's overall development in the coming years. Consumer confidence, which had slowed owing to the pandemic disruption, is expected to pick up again in the future.
The notable players in the Canned Meat Market Research are Wild Planet Foods (US), Bumble Bee Seafoods (US), Hormel Foods Corporation (US), Maruha Nichiro Corporation. (Japan), Vion Food Group (Netherlands), JBS (Brazil), Meat Maniac (US), Premium Iowa Pork (US), American Tuna, Inc. (US), and Nordic Seafood A/S (Denmark).
Industry Updates:
Nov 2021 Above Food, a plant-based protein B2B provider based in Canada, has announced the acquisition of Atlantic Natural Foods (ANF). ANF owns the shelf-stable vegan brands Loma Linda and Tuno, which provide a variety of canned meat analogs and plant-based ready meals. ANF will join Above's portfolio of plant-based brands, including ready-to-mix egg substitute Neat and vegan meat and ingredient brand Eat Up! when the deal closes in the first quarter of 2022. The transaction's financial specifics have not been revealed.
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