Market Data Forecast

Will the Rising Demand for Convenience Food Propels the Global Canned Foods Market?

Global Canned Food Market was worth USD 89.7 billion in 2016 and estimated to be growing at a CAGR of 3.8%, to reach USD 108 billion by 2021.

 

Hyderabad, India -- (SBWIRE) -- 03/21/2018 -- Food is an integral part of the life, and so the behavioral side of the customers towards food changes drastically. Food is a chosen item based on an array of external aspects like color, taste, presentation and hygiene. So packaging plays the important role to meet the requirements of the customers. To draw in the consumers, varied packaging firms introduce and design different kinds of packaging. Metal cans are one among the kinds of food packaging that facilitate the distribution and storage of the food.

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Global canned food Market was priced at USD 89.7 billion in 2016 and expected to be growing at a CAGR of 3.8%, to achieve USD 108 billion by 2021. The rising awareness concerning the health advantages offered by canned food, alongside the increasing income of customers are the major reasons behind the high projected growth of the market.

Due to growth in the busy schedules and hurried lifestyle, increase in the demand for the prepacked or processed food, and availableness of varied convenient food choice like ready to eat, ready to cook, ready to serve and ready to heat etc., act as the factors that are expected to propel the expansion of global canned food market. Increasing urbanization, rising unit financial gain and growing demand for the milk-based product like cheese, and ice-cream are expected to extend the demand for canned food packaging through the forecast time period.

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Canned food or processed food is a sensible supply of nutrients and shield the food from external conditions and supply hygienic canned food. The foremost traditional kind of the canned food is metal packaging. It is popularly used kind of packaging because it is convenient to use, easy to move and safe to consume. The canned food thus is available in varied sizes, shapes, and styles.
The canned food market was dominated by Europe region, followed closely by North America. The growing influence of western culture in dietary habits of customers has influenced the demand for canned food constructively in the Asia-Pacific region.

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The leading companies in the current industry include Syngenta AG, AkzoNobel N.V., and Nufarm Ltd., Deretil Agronutritional, Shandong IRO Chelating Chemicals Co. Ltd., Protex International, lagro SPA and Van Iperen International.

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