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Canned Preserved Food Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021

Although a copious number of local and international players compete against one another in the market for canned preserved food in Latin America and Asia Pacific, just a few of them have a solid stronghold over it. DelMonte Pacific Ltd., ConAgra Foods, H.J. Heinz Co., MTR Foods, and Pinnacle Foods are to name a few of such prominent companies.
They have managed to reach a position of prominence in the market for canned preserved food in Latin America and Asia Pacific by their continued thrust on product development – they have been experimenting with new and unique flavors or added nutrients in their quest to expand their consumer base. They are also seen training their sights on developing economies of Brazil and Asian nations of China, Japan, and India. The relatively underpenetrated canned preserved food markets in these nations, where the disposable incomes of consumers are rising impressively, spell opportunity.  
The rapid increase in working population in emerging economies has fueled the demand for readymade food products in Asia Pacific and Latin America considerably. People, nowadays, have no time to cook, which has resulted in an increased reliance on canned preserved food, as they are rich in nutrients and do not require cooking. The escalating disposable income of consumers is also adding significantly to the rising demand for canned preserved food in these regions. 
The canned preserved food market in Asia Pacific and Latin America, stood at US$24.4 bn in 2014. Expanding at a CAGR of 6.40% during the period from 2015 to 2021, it is expected to reach US$38.1 bn by the end of the forecast period.
For Sample:
canned preserved food in Asia Pacific and Latin America by Transparency Market Research states that it would rise at a 6.40% CAGR over the course of the forecast period starting from 2015 and ending in 2021. Rising at this pace, the market which was worth US$24.4 bn in 2014, is predicted to attain a value of US$38.1 bn by 2021-end.
Fish, meat, fruits, and vegetables are the main canned preserved foods being sold in Latin America and Asia Pacific. Among them, the segment of canned fish led in 2014 with more than 30% share in the market. In the next couple of years too, the segment of canned fish is expected to hold on its dominant share in the market because of the rising awareness about the health benefits of consuming fish. Between Asia Pacific and Latin America, canned preserved food are seeing higher uptake in Asia Pacific. This is because of the increasing influence of western influence on food habits of the people and their rising spending capacity. The canned preserved food market in the region is expected to rise at a 6.9% CAGR over the course of the forecast period.
REQUEST FOR COVID19 IMPACT ANALYSIS
Time Crunch Coupled With Rising Disposable Incomes of People Fuels Canned Preserved Food Demand
Two factors have gone hand in hand in driving demand in canned preserved food market in Asia Pacific and Latin America. One is the increasing disposable incomes of people and the other is their time crunch owing to demanding jobs. This not just leaves them hard-pressed to find time for cooking elaborate meals but also with the means to spend on ready-to-eat food products such as canned preserved foods. Brazil, Chile, India, and China with their large population whose spending capacities are increasing gradually are some of the main markets for canned preserved food.
Canned Fish to Witness Strongest Demand in Overall Market
Canned meat, canned fish, canned fruits, and canned vegetables are the key canned food products available in Asia pacific and Latin America. With a share of more than 30%, canned fish led the overall market in 2014. However, in Asia Pacific the demand for canned meat was higher than other while in Latin America, canned fish registered the strongest demand in the same year.

Over the coming years, the canned fish segment is likely to retain its position in the overall market. The health benefits associated with the consumption of canned fish, such as increased protein intake, is expected to keep its demand high in the near future. Canned fish, especially tuna fish, provides a massive amount of amino acids essential for the proper functioning of the brain and for maintaining a healthy hormonal balance. It is also a rich source of omega 3 fatty acids that helps in strengthening the cardiovascular systems in humans. The high consumption of canned fish in Brazil, Chile, China, and India is also projected to add significantly to its growing demand in the near future. 
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on June 5 at 2:45

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