Canned Food Market

The global canned food market is projected to continue its upward trend over the period from 2022 to 2030, with an expected increase in both volume and value. China leads in both consumption and production of canned food, with notable growth rates. Key importing and exporting countries also identified, with trends in prices and growth rates highlighted.

Market Forecast

Driven by increasing demand for canned food worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market volume to 200M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.3% for the period from 2022 to 2030, which is projected to bring the market value to $637.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Canned Food

In 2022, global consumption of canned food rose modestly to 147M tons, growing by 3.8% compared with 2021 figures. In general, the total consumption indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.3% against 2019 indices. Global consumption peaked at 147M tons in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

The global canned food market size expanded slightly to $391.4B in 2022, growing by 3.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $405B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

China (22M tons) constituted the country with the largest volume of canned food consumption, accounting for 15% of total volume. Moreover, canned food consumption in China exceeded the figures recorded by the second-largest consumer, India (8.2M tons), threefold. The third position in this ranking was taken by Spain (5.7M tons), with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +6.2%. In the other countries, the average annual rates were as follows: India (+6.8% per year) and Spain (+16.1% per year).

In value terms, China ($52.8B), Japan ($41.7B) and Spain ($17.4B) constituted the countries with the highest levels of market value in 2022, with a combined 29% share of the global market.

Spain, with a CAGR of +14.8%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of canned food per capita consumption in 2022 were Spain (120 kg per person), Italy (93 kg per person) and Japan (45 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Spain (with a CAGR of +16.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Canned Food

In 2022, the amount of canned food produced worldwide expanded slightly to 147M tons, with an increase of 3.6% on the year before. Overall, the total production indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.5% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 15%. Global production peaked at 147M tons in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, canned food production reached $375.5B in 2022 estimated in export price. In general, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.7% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 16% against the previous year. Over the period under review, global production reached the maximum level at $416.1B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

China (23M tons) remains the largest canned food producing country worldwide, comprising approx. 16% of total volume. Moreover, canned food production in China exceeded the figures recorded by the second-largest producer, India (8.4M tons), threefold. The third position in this ranking was taken by Italy (7.4M tons), with a 5.1% share.

In China, canned food production expanded at an average annual rate of +5.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+6.4% per year) and Italy (+9.4% per year).

Imports

World Imports of Canned Food

In 2022, the amount of canned food imported worldwide stood at 19M tons, picking up by 6.2% on 2021. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, canned food imports rose remarkably to $55.1B in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

The purchases of the six major importers of canned food, namely the United States, the UK, Germany, Japan, France and the Netherlands, represented more than third of total import. Canada (632K tons), South Korea (595K tons), Russia (480K tons), Belgium (469K tons), Spain (386K tons), Italy (368K tons) and China (352K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +10.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest canned food importing markets worldwide were the United States ($5.3B), China ($4.7B) and the UK ($4.7B), together accounting for 27% of global imports.

China, with a CAGR of +15.6%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average canned food import price stood at $2,860 per ton in 2022, rising by 1.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2018 an increase of 4.2% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($13,368 per ton), while South Korea ($1,453 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Canned Food

In 2022, global exports of canned food was estimated at 20M tons, with an increase of 4.9% compared with the previous year. The total export volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, canned food exports expanded notably to $56.5B in 2022. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 10% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are likely to see steady growth in years to come.

Exports By Country

In 2022, Italy (2.3M tons), China (2M tons), Thailand (1.4M tons), the Netherlands (1.3M tons), Spain (1.2M tons), the United States (1.1M tons), Germany (0.8M tons), Poland (0.8M tons), Peru (0.7M tons), Turkey (0.6M tons), France (0.6M tons) and Belgium (0.5M tons) was the largest exporter of canned food in the world, achieving 68% of total export. Hungary (414K tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Peru (with a CAGR of +12.7%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($6.3B), the Netherlands ($5.8B) and Thailand ($4.1B) were the countries with the highest levels of exports in 2022, with a combined 29% share of global exports. Germany, the United States, Italy, Poland, Spain, France, Belgium, Turkey, Hungary and Peru lagged somewhat behind, together accounting for a further 37%.

In terms of the main exporting countries, Poland, with a CAGR of +11.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average canned food export price stood at $2,885 per ton in 2022, rising by 4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 5.7%. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($4,576 per ton), while Peru ($941 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform