The canned vegetable market is projected to expand from $21.96 billion in 2023 to $23.06 billion in 2024, growing at a CAGR of 5%. This growth is driven by increasing consumer interest in diverse flavor profiles, ethnic cuisines, premium and organic canned vegetables, plant-based diets, and convenient food options. The market is expected to reach $28.36 billion by 2028, with a CAGR of 5.3%.
Key Market Drivers:
Packaged Food Consumption: The rise in packaged food consumption, fueled by changing lifestyles and the demand for convenience, is propelling the growth of the canned vegetable market. Packaged foods, including pre-cooked or ready-to-eat meals, offer quick and easy meal solutions, with canned vegetables simplifying meal preparation and enhancing flavor profiles.
Major Players and Market Trends:
Leading Companies: Key market players include Nestlé S.A., The Kraft Heinz Company, Dole plc, Del Monte Foods Inc., TreeHouse Foods Inc., Bonduelle SA, Whole Foods Market Inc., B&G Foods Inc., Goya Foods Inc., Seneca Foods Corporation, Hanover Foods Corp., Century Pacific Food Inc., and others.
Innovative Products: Companies are focusing on introducing innovative products, such as organic canned vegetables, which are grown without synthetic pesticides or fertilizers and preserved without added preservatives.
Market Segmentation:
Type: Sliced, Peeled, Other Types
Distribution Channel: Store-Based, Non-Store-Based
Application: Culinary, Salads and Soups, Toppings and Dressings, Other Applications
Geographical Insights:
Regional Analysis: North America was the largest region in the canned vegetable market in 2023, while Asia-Pacific is expected to be the fastest-growing region during the forecast period. The regions covered include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Canned Vegetable Market Characteristics:
Definition: Canned vegetables are processed, cooked, and sealed in airtight containers for preservation. This method extends their shelf life, retains nutrients and flavor, and offers convenience for consumption at any time.