U.S.: Canned Vegetable Market 2024

Canned Vegetable Market Size in the U.S.

The U.S. canned vegetable market skyrocketed to $X in 2022, with an increase of 16% 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). In general, consumption enjoyed strong growth. Canned vegetable consumption peaked in 2022 and is likely to continue growth in the immediate term.

Canned Vegetable Exports

Exports from the U.S.

In 2022, shipments abroad of canned vegetables increased by 0.1% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 5.8%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, canned vegetable exports totaled $X in 2022. Over the period under review, exports recorded a mild expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for canned vegetable exports from the United States, with a 50% share of total exports. Moreover, canned vegetable exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), fivefold. The third position in this ranking was taken by Japan (X tons), with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume to Canada amounted to +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-0.9% per year) and Japan (-4.3% per year).

In value terms, Canada ($X) remains the key foreign market for canned vegetables exports from the United States, comprising 47% of total exports. The second position in the ranking was held by Mexico ($X), with a 9.3% share of total exports. It was followed by Japan, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+1.7% per year) and Japan (-2.4% per year).

Export Prices by Country

In 2022, the average canned vegetable export price amounted to $X per ton, surging by 7.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

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Canned Vegetable Imports

Imports into the U.S.

For the third year in a row, the United States recorded growth in overseas purchases of canned vegetables, which increased by 4.6% to X tons in 2022. In general, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.4% against 2012 indices. The growth pace was the most rapid in 2020 when imports increased by 15%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, canned vegetable imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +4.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 13%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Peru (X tons) and Mexico (X tons) were the main suppliers of canned vegetable imports to the United States, together comprising 44% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +10.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Greece ($X) and Peru ($X) appeared to be the largest canned vegetable suppliers to the United States, together comprising 37% of total imports. Canada, Spain, China, Italy, India, Thailand, Morocco, Guatemala, Turkey and Egypt lagged somewhat behind, together accounting for a further 51%.

Guatemala, with a CAGR of +11.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average canned vegetable import price amounted to $X per ton, picking up by 7.7% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Greece ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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