Rising urbanization, higher income, and busy lifestyles drive growth in North American canned fruits industry.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 1, 2023 /EINPresswire.com/ -- According to FMI, the global canned legumes market size is projected to reach US$ 3.05 billion in 2023 and will grow at a CAGR of 4.5% as canned foods become more widely accepted. During the forecast period, manufacturers are likely to introduce canned legumes to meet this growing demand, and the market is expected to reach US$ 4.74 billion by 2033.

A busy lifestyle and an increasing household income in developed and developing regions will continue to drive the global market in the upcoming years. This is the result of the growing demand for healthy and convenient ready-to-cook foods. The global food market is growing due to the rising number of working population groups, particularly dual-income households.

Canned legumes offer a wealth of essential nutrients, making them an attractive addition to various diets. They are rich in protein, carbohydrates, and fiber, as well as providing valuable vitamins and minerals like vitamin B, copper, iron, manganese, magnesium, phosphorus, and zinc. These nutritional benefits have catapulted canned legumes into the spotlight, particularly in vegan and vegetarian diets.

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Since canned legumes are a rich source of plant-based proteins, the demand for them has increased as consumers' health concerns rise as a result of the increased number of working populations, particularly dual-income households. Due to the growing popularity of ethnic foods, lentils and chickpeas are expected to gain importance in the coming years.

What makes canned legumes even more appealing is their low-fat content, including minimal saturated fat and cholesterol. This makes them a healthier choice for individuals looking to maintain a balanced and heart-healthy diet while enjoying the benefits of plant-based nutrition. As dietary preferences continue to evolve, canned legumes remain a versatile and nutritious choice for a wide range of meal options.

Competitive Landscape:

In the canned legumes market, there are numerous international and regional players competing, making it highly competitive. Several prominent companies dominate this market, including Alimenco Srl; Bush Brothers & Company; Conagra Brands; Co-op Food; Del Monte Food, Inc.; Del Monte Pacific Limited (Nutriasia, Inc.); Eden Foods, Inc.; Faribault Foods, Inc.; Fujian Chenggong Canned Food Co., Ltd.; Fujian Chenggong Fruits & Vegetables Food co.,ltd; General Mills, Inc.; Goya Foods, Inc.; Kyknos; Napolina; SATKO; Supermercados Mayoristas Yaguar S.A.; Teasdale Foods, Inc.; Teasdale Latin Foods; The Hain Celestial Group, Inc.; The Kraft Heinz Company; and Yichang Tianyuan Canned Food Co., Ltd.

It is a highly consolidated market, with these players holding the significant share. Companies are focusing on price, quality, ingredients, and promotions to gain a dominant market share. These companies are investing more in research and development (R&D) to develop consumer-driven flavors and ingredients to expand their presence and maintain their position in the market.

Recent Developments:

A vegan-friendly canned sausage and bean product was introduced by The Co-op Food Company in April 2019. In addition to baked beans that are flavored with tomato sauce, herbs, and spices, chickpeas and lentils will gain popularity due to their shorter cooking times in the upcoming years. As consumers become more accustomed to dried foods, precooked and ready-to-eat varieties are becoming increasingly popular.

The Bush Brothers brand partnered with Beanstalk, a global brand extension and licensing company, in June 2020. The partnership was aimed at extending the brand's reach into complementary food categories to provide healthy and delicious food to consumers.

Teasdale launched its Simply Especial line of teas in April 2019. The Simply Especial line is available in five varieties: Chili Verde, Chipotle Rojo, Mexican Chili, Peruvian, and Spicy Cuban.

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Market Segmentation

By Type

Navy Beans
Peas
Chickpeas
Others

By Type of Category

Conventional
Organic

By Distribution Channel

Supermarkets/Hypermarkets
Online Retail Stores
Convenience Stores
Others

By Region

North America
Latin America
Europe
The Middle East & Africa (MEA)
East Asia

Author:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Explore FMI’s Extensive Coverage on Food & Beverage Domain:

Canned Meat Market Size: The global canned meat market is valued at approximately US$ 13,644.8 million in 2023. The increasing desire for convenient, protein-rich food products is expected to drive the canned meat market's growth, with a strong projected CAGR of 6.8% from 2023 to 2033.

Canned Fruits Market Growth: The global canned fruits market is expected to see steady growth, with a moderate CAGR of 1.9% throughout the forecast period.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights, Inc.
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