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The main players in the canned meat market are Xiamen Gulong Canned Food Co. Ltd., Tyson Foods Inc., Wild Planet Foods Inc., Radiant Farms Inc., Survival Cave Food, JBS SA, Key Food Stores Co-op Inc., Crown PrInc.
New York, March 14, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the “Canned Meat Global Market Report 2023” –
Bar Harbor Foods, Zishan Group, Libby’s Brand Holding, Radiant Farms, Dalian Lixiang Food, Hormel Foods Corporation, American Tuna Inc., Bumble Bee Seafoods, Maruha Nichiro Corporation and Vion Food Group.
The global canned meat market grew from USD 15.47 billion in 2022 to USD 16.42 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The war between Russia and Ukraine disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on several countries, an increase in commodity prices and supply chain disruptions, causing inflation in goods and services and affecting many markets around the world. The canned meat market is expected to grow to USD 20.14 billion by 2027 at a CAGR of 5.2%.
The canned meat market consists of sales of whole muscles, meat stews, lunch meat, sausages, sauces with pieces of meat and pasta products. The values in this market are ‘factory gate’ values, i.e. the value of goods sold by the manufacturers or creators of the goods, either to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes the related services sold by the creators of the goods.
Canned meat refers to fresh, ready-to-eat meat preserved in cold storage. Corned beef contains protein, omega-3 fatty acids, fiber and other nutrients that are essential for a balanced diet.
People choose canned meat because it can be stored longer and is easier to preserve.
North America was the largest region for canned meat market in 2022. Asia-Pacific is expected to be the fastest growing region during the forecast period.
The regions covered in the Corned Beef market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of canned meat products are seafood, poultry, red meat and other products. Poultry refers to canned meat from chicken, goose, duck, turkey, game birds and rabbit that involves freezing the meat in time at specific temperatures.
It is distributed through supermarkets and hypermarkets, specialty stores, online and other distribution channels and is used in various applications such as private, commercial and industrial use.
The growing demand for canned seafood is expected to drive the growth of the canned meat market in the future. Seafood refers to any type of marine life considered edible by humans, especially fish and shellfish.
People prefer canned food because it is preserved at precise temperatures and it is considered a convenient and protein-rich food, as a result, the growing demand for canned seafood increases the demand for canned meat market. For example, in March 2021, according to the Center for the Promotion of Imports from Developing Countries, the Ministry of Foreign Affairs in Europe, canned tuna, the most popular canned fish in 2019, and canned Europe’s most important fish, experienced an almost 12% increase in demand from January to May 2020 compared to the same period in 2019.
Therefore, increasing demand for canned seafood is driving the growth of the canned meat market.
Strategic partnerships have emerged as a key trend gaining popularity in the canned meat market. Major companies operating in the canned meat sector focus on associations to strengthen their position.
For example, in October 2021, Hormel Foods Corporation, a US-based canned meat manufacturer, partnered with The Better Meat Co, a US-based food processing company. Through this partnership, the two companies will work together to develop the next generation of great-tasting, healthy and sustainable alternative protein products featuring The Better Meat Co’s innovative Rhiza mycoprotein ingredient. Also, in May 2021, Dada Group, a delivery and retail platform in China, partnered with Tyson Foods, a US-based canned meat processor and marketer. Through this partnership, Data Group will lead the trend in the fresh meat category in the field of on-demand retailing in China.
In August 2021, Bolton Group, an Italian consumer products manufacturer, acquired Wild Planet Foods for an undisclosed amount. This acquisition strengthens Bolton Group by increasing its presence in the US tuna market, and both companies will work together to develop responsible sourcing. chain of excellence.
Wild Planet Foods is an American manufacturer of canned meat.
The countries covered in the Corned Beef market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Market value is defined as the revenue earned by businesses from the sale of goods and/or services within the specified market and geography through sales, grants or donations in currency terms (in USD unless otherwise specified ).
Revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, regardless of where they are generated. It does not include resale revenue along the supply chain, either further along the supply chain or as part of other products.
Corned Beef Market Research Report is one of a series of new reports that provides Corned Beef market statistics, including global market size of Corned Beef industry, regional shares, competitors with canned meat market share, detailed canned meat market segments, market trends and opportunities. , and any other data you need to thrive in the canned meat industry. This Corned Beef Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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