Global canned meat market size projected to grow from US$31.13B in 2023 to US$42.61B by 2030, according to report from Fortune Business Insights

September 12, 2023 (press release) –

The canned meat market size is projected to grow from USD 31.13 billion in 2023 to USD 42.61 billion by 2030. As per a report by Fortune Business Insights™ titled, “Canned Meat Market Size, Share & COVID-19 Impact Analysis, By Product Type (Luncheon Meat, Ham, Sausage, Bacon, Corned Beef, and Others), By Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Online Retail, and Others), and Regional Forecast, 2023– 2030”, the market stood at USD 29.84 billion in 2022. It is set to exhibit a CAGR of 4.59% during 2023-2030.

Canned meat delivers the accessibility of minimum cooking time, saving much cooking time. These products are the alternative for people with busy lifestyles and are easy to use. Innovative and unique strategies are anticipated to grow manufacturers’ global reach and deliver productive market opportunities during the projected period. Key market players augment their product reach by introducing canned meat products in international markets and delivering food that tastes as good as fresh meat. Inventive marketing plans are estimated to augment the market growth during the projected period.

Pandemic Declined the Market Growth Owing to the Shutdown of Supermarkets

Due to the strict lockdown and restrictions imposed on people’s movement, the canned meat market share witnessed a downfall during the pandemic. In order to mitigate the spread of the COVID-19 virus and the decline in cases, government authorities imposed stringent lockdowns worldwide. The shutdown during the pandemic has skyrocketed the sales for the products as people started to stockpile the product due to the adverse effects of the pandemic on the market.

Surging Demand for Animal Products to Boost the Market Growth

The demand for the product has increased gradually with the increasing population, which fostered the demand for animal protein globally, increasing the amount of waste caused by using fish, meat, pork, and poultry. Processors and manufacturers are actively investing in meat processing facilities to increase profits and decline losses. According to the World Health Organization (WHO), for three decades, the demand is increasing for animal products propelling the market.

Minerva SA Introduced the B2B Sales to Augment the Market Development

In January 2021, “Miu Minerva,” a B2B online sales platform, was introduced by Minerva SA, which delivers various processed meats, mainly processed beefs products. This change will likely augment the company’s customer base and revenue and expand its reach in the processed meat market. With the growing demand for online platforms in the food industry, Minerva SA’s new sales platform is anticipated to fetch convenience to its customers by providing an easy-to-use online ordering system.

Prominent Players Inclined towards the Expansion of Businesses to Gain Traction

The market has the presence of local players, and the number of local players in the market exceeds the number of international players. Since the demand for canned meat is increasing, the market players are trying to make their way and make their products available in international markets by engaging themselves into partnerships and collaborations with other local players in the respective markets. The prominent players in the market include Hormel Foods Corporation, Tyson Foods, Inc., Bolton Group., Smithfield Foods, Inc., and JBS SA.

Notable Industry Development:

• August 2021: Wild Planet Foods was acquired by Italian consumer goods Bolton Group for an unrevealed amount. The acquisition tends to strengthen the Bolton Group by increasing its presence in the U.S. market, and both companies together will work to construct a superior and responsible supply chain.

List of the Companies Profiled in the Report:

• Hormel Foods Corporation (U.S.)
• Tyson Foods, Inc. (U.S.)
• Bolton Group   (Italy)
• Smithfield Foods, Inc.  (U.S.)
• Vion Group (Netherlands)
• Conagra Brands Inc. (U.S.)
• McCallum Industries (New Zealand)
• Keystone Meats (U.S.)
• Werling & Sons, Inc. (U.S.)
• JBS SA (Brazil)

Further Report Findings:

• North America region dominated the share of the market in 2022. The market in this region is increasing due to the increasing adoption rate of canned meat products in countries such as Canada, Mexico, and the U.S.
• Asia Pacific region is a rapidly growing market mainly for Australia, China, the Philippines, India, South Korea, and others (Vietnam, New Zealand, Thailand, Malaysia, Indonesia, and Japan). Moreover, the increasing demand for food and the growing population in this region are the key factors for the canned meat market growth.
• Europe’s largest meat-consuming countries are Switzerland, Spain, Russia, Norway, Netherlands, Italy, Austria, France, and Germany. The consumption of the product in the Europe market majorly depends on intra-EU trade and domestic meat production.

Table of Segmentation:

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