The North America Canned Food Market would witness market growth of 3.5% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 1,705.2 Kilo Tonnes, showcasing a growth of 14.0% (2020-2023).
Conventional canned food remains a dominant segment in the canned food market, driven by its affordability, wide availability, and long shelf life. This category includes a vast array of products such as fruits, vegetables, meats, fish, and ready meals that are processed using traditional methods and may involve the use of preservatives, additives, and non-organic farming practices. Thus, the US market consumed 1,620.6 kilo tonnes of conventional canned food in 2023.
The US market dominated the North America Canned Food Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $32,734.1 million by 2031. The Canada market is experiencing a CAGR of 5.9% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 5% during (2024 - 2031).
This food transcends its image as a simple pantry staple. Its applications extend far beyond emergency preparedness or quick meals. For example, canned goods are a lifesaver for busy lifestyles. Pre-cooked beans, vegetables, and proteins form the base for countless quick and easy meals. Tuna salad sandwiches, hearty chili con carne, or a vibrant vegetable stir-fry are just a few examples.
Likewise, canned soups offer a comforting and convenient option for lunches or light dinners. They also serve as a base for elaborate creations, like creamy tomato soup transformed into a luxurious bisque. Canned sauces, from tomato to pesto, add instant flavor and depth to pasta dishes and pizzas. Also, canned fruits like pineapple or peaches become delicious fillings for pies and pastries. Sweetened condensed milk is a key ingredient in classic desserts like tres leches cake.
The booming food and beverage industry drives innovation and product development. Canadian food processors are proactively dedicating resources to adopting cutting-edge technologies and approaches to manufacture premium-quality foods, presenting a wide range of products customized to address diverse consumer preferences and dietary needs. According to the Government of Canada's data for 2022, the food and beverage processing sector emerged as the largest manufacturing industry in the country in terms of production value, generating sales of manufactured goods amounting to $156.5 billion. Furthermore, exports of processed food and beverage items reached a record-high value of $54.3 billion in 2022, marking a notable 14.1% increase from the previous year and representing 34.7% of the total production value. Hence, North America’s growing food and beverage processing sector is expected to boost the demand for in the region.
Free Valuable Insights: The Canned Food Market is Predict to reach USD 151.3 Billion by 2031, at a CAGR of 3.7%
Based on Type, the market is segmented into Conventional and Organic. Based on Distribution Channel, the market is segmented into Hypermarkets & Supermarkets, Food Service, Convenience Stores, Online and Others. Based on Product, the market is segmented into Canned Fruits & Vegetables, Canned Fish & Seafoods, Canned Meat Products, Canned Ready Meals, Canned Condiments, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Type (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Product (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-31)
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