Canned Fruits Market is likely to Reach US$10.83 bn by 2019, Surging at a CAGR of 3.3% from 2013 to 2019
Canning is a method of preserving food in an air tight container. Canned food has a fairly long shelf life, as long as it is stored properly. To store fruits for long time period, all spoilage causing bacteria have to be killed and prevented from reaching the food later. The global market for canned fruits was worth USD 8,626.6 million in 2012 and is expected to reach USD 10,827.7 million in 2019, growing at a CAGR of 3.3% from 2013 to 2019.
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One of the major trends driving growth in the canned fruits industry is the steadily evolving and changing food habits. Rapid urbanization, higher disposable income, emergence of nuclear families and many other factors drive consumers to seek convenience in almost every aspect of life and food is no exception. Canned fruits which are a form of convenience food are now an integral part of most families’ monthly grocery budget. In addition, surging number of working women, busy lifestyles, change in consumer purchasing patterns, availability of wide range of canned fruits products in different categories and the fact that canned fruits deliver better value for money than fresh fruits are compelling more and more consumers to use canned fruits.
Canned fruit cans are made from either aluminum or steel depending on the method followed by the container manufacture. The raw materials for both these alloys (aluminum & steel) are available naturally in large quantities across the globe and help in reducing the manufacturing cost of cans. Steel is supplied either as tin plates or as tin free steel. Both aluminum and steel are non-toxic materials and are easy to recycle after use which helps in saving energy, raw materials and managing waste. Steel cans are 100% recyclable. Recycling aluminum saves enormous amount of energy. For instance, producing 20 cans from recycled material uses the same power as making one can from raw materials.
A steady growth in minimally processed and fresh fruit consumption is gradually eroding the market for canned fruits. Moreover, the trend of reduced home cooking has also impacted the demand for canned fruits, which are traditionally purchased by consumers who cook food at home. Canned fruits have lost their market share to other products over the past few years.
Europe and North America were the market leaders of the global canned fruits market and accounted for more than 75% of the market in 2012. In 2012, Europe occupied the largest market share of 45.2% followed by North America, which occupied 34.5% share of the market. Factors driving the growth of the market are increasing preference for convenience foods, food safety concerns, and busy lifestyles. But, by 2019, North America is expected to lose its market share, while growth in the European market is expected to remain stagnant over the next six years. In future, Asia Pacific is expected to be the most promising market occupying 15.8% share of the total market with economies such as India, Japan, Australia and China being the chief contributors. Growing demand for canned fruits, changes in lifestyle, improving trade scenario and increasing local-foreign joint ventures are the major factors contributing to the growth of the market.
Del Monte with its wide range of brands such as Del Monte, Contadina, College Inn, S&W and many others was the clear leader of the market with a share of 29.0% in 2012 followed by Dole which accounted for 24.0% share of the market. Dole Food Company, Inc. is a manufacturer, distributor, and marketer of fresh vegetables and fresh fruits. Other companies such as Pinnacle, H.J. Heinz and many others accounted for a combined share of 12.0% in 2012.