Published on : Jan 12, 2016
Due to the growing health consciousness among consumers, the food and beverages industry has been focusing on efficient packaging of their foods, particularly those that travel to distant markets. Canning allows nutrients in food and beverage packed remain intact and also ensures convenience is transportation and sale. Using similar technique to offer fruits has incredibly attracted consumers who lead a hectic lifestyle but demands healthier alternatives to convenience food. The demand for canned food is thus likely to rise exponentially in forthcoming years.
Rapid urbanization, growing population of working women, and hectic lifestyle are primary factors fuelling demand from the convenience food market, which subsequently drives the market for canned foods. The market for canned food is also likely capitalize on the abundant production of various kinds of fruits worldwide. The development of innovative packaging will also boost the global market for canned fruits.
Despite witnessing impressive growth prospects, the global market for canned fruits is restrained by stringent regulations imposed by government. These regulations are deemed important since they keep a check on the quality of products made available to consumers. Furthermore, threat from substitutes will also suppress the market growth to an extent. Nevertheless, with consumers demanding increasingly for organic alternatives, the global canned fruits market is expected to witness lucrative opportunities to capitalize on in the near future.
Generally, manufacturers prefer steel or aluminum more to design sturdy containers for storing fruits. Furthermore, raw materials for both steel and aluminum are available abundantly around the world, thus effectively reducing the overall manufacturing cost. Steel being 100% recyclable is a preferred choice among consumers. In fact aluminum is also recyclable, which allows saving energy in massive amount. This crucial factor also appeals the discerning consumers of canned fruits.
Regionally, global canned fruits market is segmented into Asia Pacific, Europe, the Middle East and Africa, North America, and Rest of the World. Of these, Europe held over 40% of the global canned fruits market in 2012, followed by North America. The region held over 30% of the global canned fruits market in 2012. The Asia Pacific market for canned fruits also holds immense potential. The market is likely to exhibit a CAGR of 3.80% between 2013 and 2019.