Global canned food market: $100 billion industry by 2020

Press release   •   May 01, 2013 13:42 BST

The global canned food market is estimated to have reached a value of around $77.2 billion at the beginning of 2013, and is suggested to grow to $79.6 billion by 2014. By 2020 this industry is forecast to reach a total of $99.7 billion, growing at a CAGR of 3.5% between 2010 and 2020.

Though tastes of consumers as regards food are highly varying, there is hardly any difference in the qualities that they value. Topping the list of consumer demands for foods and packaging are freshness, ingredients of superior quality, convenience and eco-friendliness. The humble can is able to provide all of these, though consumer perception regarding the same is very low.

For instance, convenience offered by canned foods is highly valued by consumers, but other benefits, such as health and nutritional advantages are often ignored. Today's consumer is gaining an insight into the role played by nutritious foods to maintain a healthy lifestyle, with health-conscious diets becoming more common and driving the demand for the most nutritious food on offer.

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