The canned vegetable market is expected to be valued at US$ 24,164.8 million in 2024. The market's progress is projected to be invigorating from 2024 to 2034, with a CAGR of 3.9%, compared to 3.58% until 2023. By 2034, the market value is forecasted to reach US$ 35,267.9 million.
With busy lifestyles and limited time for meal preparation, consumers are increasingly seeking quick and easy meal solutions. Canned vegetables provide a convenient option as they require minimal preparation time and have a longer shelf life. The ease of use offered by canned vegetables makes them a popular choice among consumers who are looking for quick meal solutions.
Increasing awareness about the health benefits of consuming vegetables has made consumers more health-conscious, leading them to seek options that are not only convenient but also nutritious. Canned vegetables are a good source of essential vitamins and minerals, and their nutritional value is preserved due to the canning process.
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Canned vegetables provide a convenient and easy way for consumers to add more vegetables to their diet, which is beneficial for their health. The availability of a wide variety of canned vegetables in the market has also contributed to the growth of the canned vegetable market. With the introduction of new varieties and flavors, consumers have a plethora of choices and can easily find products that meet their taste preferences.
Canned vegetables are now available in various forms such as mixed vegetables, diced vegetables, and whole vegetables. This has provided consumers with more options to choose from and has increased their willingness to try new products.
The affordability of canned vegetables has also been a key factor driving their demand. Canned vegetables are relatively cheaper than fresh vegetables, making them an attractive option for budget-conscious consumers. This affordability factor has made canned vegetables a popular choice among consumers looking for nutritious food options at an affordable price.
“The increasing popularity of online grocery shopping is apparent with the rise of online grocery stores. Consumers can now easily purchase canned vegetables from the comfort of their homes. This has made it easier for consumers to access canned vegetables and has contributed to the growth of the market.” Says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).
Key Takeaways from the Canned Vegetable Market
- The canned vegetable market is estimated to register a CAGR of 3.9%, reaching a valuation of US$ 35,267.9 million by 2034.
- The organic segment is anticipated to dominate the market by holding a 26.5% market in 2024.
- The canned vegetable market in the United States is estimated to develop at a CAGR of 1.8% through 2034.
- The canned vegetable industry in Germany has increased to 2.3% CAGR through 2034.
- The canned vegetable industry in China is anticipated to develop at a CAGR of 3.6% through 2034.
- The canned vegetable industry in Japan is projected to inflate at a CAGR of 5.6% through 2034.
Competitive Landscape
Demand for convenient food options is on the rise due to busy lifestyles and an aging population. As a result, major food producers are focusing on producing canned vegetables to capture a larger market share. To stay competitive, manufacturers are leveraging advanced canning technology and employing product differentiation strategies.
Recent Development
In 2022, Olde Oak Foods Ltd., a popular brand that specializes in canned hot dogs and meat products, launched a brand-new website in partnership with digital marketing agency Faber Ltd. The website has been designed to be visually appealing and easy to use, allowing customers to easily browse through Olde Oak's wide range of products. Through this initiative, Olde Oak Foods aims to expand its customer base and provide a hassle-free online shopping experience to its customers.
About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
