Published on : Sep 29, 2016
The need for easy availability of fresh fruits from health conscious consumers has opened a plethora of opportunities for the progress of the food and beverages industry. The trend of consumption of canned and frozen fruits has also impelled can manufacturers to focus on innovation in terms of can presentation and durability, and further enhance their manufacturing process. The growth of the global canned food market can be attributed to the growing trend of changing food habits and rigorous lifestyle. With the onset of the nuclear family culture, the consumption of convenient food has also surged. But as awareness regarding balanced diet is increasing among consumers, the demand for canned fruits and vegetables is also rising. Fruits being an integral part of the food budget is gaining popularity in the canned food sector.
Cheap Raw Materials to Drive Market Growth
Varied according to specific manufacturing methods, canned fruit cans are usually made from steel or aluminum. Both the raw materials are naturally available and in abundance. As a result of this, the initial cost of production of cans is significantly low. The supply of steel is either in the form of tin free steel or tin plates. Aluminum and steel both are both easy to recycle and non-toxic. As a result of this, they enable saving of raw material and energy along with waste management. Furthermore, the need for new and innovative product development and rising consumer appeal for convenience food is further expected to drive the growth of the global canned fruits market.
Stringent government guidelines to Impede Growth of the Global Canned Fruits Market
To ensure food safety, governments across the world have imposed mandatory guidelines for manufacturers of canned fruits to follow. Moreover, reduction of home cooking has negatively impacted the growth of the market. Due to the availability of low-cost substitutes, the demand for canned fruits is expected to be impeded over the next years.
With reference to the above factors, the global canned fruits market is likely to exhibit a 3.3% CAGR between 2013 and 2019. In 2012, the market stood at US$8,626.6 mn and is poised to touch US$10,827.7 mn by the end of 2019.