The rapid increase in working population in emerging economies has fueled the demand for readymade food products in Asia Pacific and Latin America considerably. People, nowadays, have no time to cook, which has resulted in an increased reliance on canned preserved food, as they are rich in nutrients and do not require cooking. The escalating disposable income of consumers is also adding significantly to the rising demand for canned preserved food in these regions.
The canned preserved food market in Asia Pacific and Latin America, stood at US$24.4 bn in 2014. Expanding at a CAGR of 6.40% during the period from 2015 to 2021, it is expected to reach US$38.1 bn by the end of the forecast period.
Canned Fish to Witness Strongest Demand in Overall Market
Canned meat, canned fish, canned fruits, and canned vegetables are the key canned food products available in Asia pacific and Latin America. With a share of more than 30%, canned fish led the overall market in 2014. However, in Asia Pacific the demand for canned meat was higher than other while in Latin America, canned fish registered the strongest demand in the same year.
Over the coming years, the canned fish segment is likely to retain its position in the overall market. The health benefits associated with the consumption of canned fish, such as increased protein intake, is expected to keep its demand high in the near future. Canned fish, especially tuna fish, provides a massive amount of amino acids essential for the proper functioning of the brain and for maintaining a healthy hormonal balance. It is also a rich source of omega 3 fatty acids that helps in strengthening the cardiovascular systems in humans. The high consumption of canned fish in Brazil, Chile, China, and India is also projected to add significantly to its growing demand in the near future.
Asia Pacific Reports Higher Consumption of Canned Preserved Food than Latin America
Between Latin America and Asia Pacific, canned preserved food reports a greater consumption in Asia Pacific. The growing influence of Western culture in dietary habits of consumers has influenced the demand for canned preserved food positively in this region. The rising awareness regarding the health benefits offered by canned food, together with the increasing disposable income of consumers, is also boosting the adoption of these products significantly in Asia Pacific. During the period from 2015 to 2021, this regional market is likely to retain its position with a rise in the revenue at a CAGR of 6.90%.
Latin America is also expected to witness a steady rise in the demand for canned preserved food on account of the changing lifestyles of people in this region. Analysts project the market for canned preserved food in Latin America to expand at a CAGR of 5.30% between 2015 and 2021.
Dole Food Company Inc., BRF S.A., Pinnacle Foods Inc., Maple Leaf Foods Inc., Campbell Soup Co., ConAgra Foods Inc., B&G Food Holdings Corp., MTR Foods Pvt. Ltd., H.J. Heinz Co., and DelMonte Pacific Ltd. are the key producers of canned preserved food in Asia Pacific and Latin America.
Manufacturers Focus on Providing Diverse Flavors Boosts Canned Preserved Food Market
Rising demand for a variety of innovative flavors and different kinds of nutritional substances in canned food products is boosting the growth in canned preserved food market. Increasing number of adult population in and around urban areas works full time, consisting of 8 to 9 working hours. This gives them less time to spend with their families and cook food, clean, and organize. This trend is pivotal for the development of canned preserved food market. Canned preserved food products are usually ready-to-eat and require minimal to no cooking efforts. They have a high shelf life and can be stored easily in homes. Increasing demand for easy to consume and convenient food products is favorable for the canned preserved food market. Some of the most consumed food products in the market include canned fish, canned meat, canned vegetables, canned fruits, and canned ready-to-eat products. Technological advancements to make the canning processes easier and packaging materials more sustainable and environment-friendly can also boost the market in coming years.
In recent past, the demand for organic canned food products has grown exponentially. Consumers are opting for products that use natural ingredients as well as natural preservatives. Awareness of adverse impacts of chemical and artificial preservatives on human body has triggered the increasing uptake of organic canned preserved food products. Manufacturers are focused on developing organic products with higher shelf life, innovative packaging, and interesting flavors that can appeal a wide range of consumers. This trend can be attributed to the growing global vegan population. Increasing investments in research and development initiatives to introduce healthier and nutrient-rich products are positively impacting the global canned preserved foods market. Furthermore, innovations in technology and rising adoption of industry automation has improved the production lifecycles and allowed manufacturers to produce greater quantity in lesser time, with lesser human effort. These trends can prove to be beneficial for the global canned preserved foods market in long run.
Chapter 1Asia Pacific and Latin America Canned Preserved Food Market: Preface
1.1.Report Description
1.2.Market Segmentation
1.3.Research Scope
1.4.Research Methodology
Chapter 2Asia Pacific and Latin America Canned Preserved Food Market: Executive Summary
Chapter 3Asia Pacific and Latin America Canned Preserved Food Market: Market Overview:
3.1.Introduction
3.2.Market Drivers and Restraints
3.2.1. Market Drivers
Convenient and appealing to the consumers
Influence of Western Culture in Developing Countries
Growing Urbanization Driving the Consumption of Canned Food
3.2.2. Market Restraints
Migration of Canned Components and Botulism Affecting the Canned Preserved Food Market
Excess Salt and Sugar Content in Canned Food Products
3.2.3. Market Opportunities
3.3.Key Trends Analysis
3.4.Market Attractiveness Analysis
Chapter 4: Asia Pacific and Latin America Canned Preserved Food Market; by Type, 2014-2021
4.1.Overview
4.2.Asia Pacific and Latin America Canned Meat Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
4.3.Asia Pacific and Latin America Canned Fish Market, Revenue and Volume Forecast, 2014-2021 (USD Billion and Kg/Billion)
4.4.Asia Pacific and Latin America Canned Fruits Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
4.5.Asia Pacific and Latin America Canned Vegetables Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
4.6.Asia Pacific and Latin America Others Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
Chapter 5: Asia Pacific and Latin America Canned Preserved Food Market, By Region, 2014-2021
5.1.Overview
5.2.Asia Pacific Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
5.2.1.India Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
5.2.2.China Canned Preserved Food Market , Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
5.2.3.Rest of Asia Pacific Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
5.3.Latin America Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
5.3.1.Brazil Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
5.3.2. Argentina Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
5.3.3.Chile Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
5.3.4.Rest of Latin America Canned Preserved Market, Revenue and Volume, 2014-2021 (USD Billion/Kg Billion)
Chapter 6: Company Profiles
6.1.DelMonte Pacific Ltd.
6.2.H.J. Heinz Company
6.3.MTR Foods Pvt Ltd.
6.4.B&G Food Holdings Corporation
6.5.ConAgra Foods Inc.
6.6.Campbell Soup Company
6.7.Maple Leaf Foods Inc.
6.8.Pinnacle Foods Inc.
6.9.BRF S.A.
6.10.Dole Food Company Inc.
List of Tables
TABLE 1: Asia Pacific Canned Preserved Food Market, Revenue Forecast, 2014-2021,(USD Billion)
TABLE 2: Asia Pacific Canned Preserved Food Market, Volume Forecast, 2014-2021 (Kg Billion)
TABLE 3: Asia Pacific Canned Preserved Food Market, Average Selling Price Forecast, 2014-2021 (USD)
TABLE 4: Latin America Canned Preserved Food Market, Revenue Forecast, 2014-2021 (USD Billion)
TABLE 5: Latin America Canned Preserved Food Market, Volume Forecast, 2014-2021 Kg Billion)
TABLE 6: Latin America Canned Preserved Food Market, Average Selling Price Forecast, 2014-2021 (USD)
List of Figures
FIG 1: Asia Pacific and Latin America Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 2: Market Attractiveness Analysis of Asia Pacific and Latin America Canned Preserved Food Market
FIG 3: Asia Pacific and Latin America Canned Preserved Food Market, Revenue Share by Types
FIG 4: Asia Pacific and Latin America Canned Meat Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 5: Asia Pacific and Latin America Canned Fish Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 6: Asia Pacific and Latin America Canned Fruits Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 7: Asia Pacific and Latin America Canned Vegetables Market, Revenue and Volume Forecast, 2014-2021
FIG 8: Asia Pacific and Latin America Others Market, Revenue and Volume Forecast, 2014-2021(USD Billion/Kg Billion)
FIG 9: Asia Pacific and Latin America Canned Preserved Food Market, Revenue Share by region 2014-2021
FIG10: Asia Pacific Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 11: India Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 12: China Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 13: Rest of Asia Pacific Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 14: Latin America Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 15: Brazil Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 16: Argentina Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 17; Chile Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
FIG 18: Rest of Latin America Canned Preserved Food Market, Revenue and Volume Forecast, 2014-2021 (USD Billion/Kg Billion)
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