Global Canned Fruits Market to Rise at CAGR of 3.3% from 2013 to 2019 as Demand for Convenience Food IncreasesApril 9, 2021
Transparency Market Research has recently published a new research report that examines the various components of the global canned fruits market and the several trends and dynamics governing it. The research report, titled “Canned Fruits Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” explains canning as an important part of preserving food to ship or sell it in distant locations across the globe, all year round.
The evolution in techniques of canning fruits has opened up a whole new opportunity for growth for the overall food and beverages industry. These processes not only enhance the life of the fruits and other ingredients but also allow the consumer to enjoy fruits beyond their seasonal expiry dates. To understand the microscopic details of the global canned fruits market, the research report has used Porter’s five forces analysis. This market measurement tool highlights the intensity of competitive rivalry, the threat of new entrants, the threat of substitute products or services, the bargaining power of suppliers, and the bargaining power of customers.
According to the research report, the global canned fruits market was valued at US$8.62 bn in 2012 and is likely to reach US$10.83 bn by 2019, surging at a CAGR of 3.3% from 2013 to 2019. The growth of the global canned fruits market will be attributable to the increasing demand for convenience food items, rising yield of fruits, and environment-friendly raw materials. However, the global canned fruits market does face certain challenges such as tough regulatory frameworks and increasing competition from substitute items.
The global canned fruits market is segmented on the basis of geography into North America, Asia Pacific, Europe, the Middle East and Africa, and Rest of the World. In terms of regions, Europe held a massive share of 40% in the global canned fruits market in 2012. North America followed this region with a share of 30%.
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According to research analysts, Asia Pacific is expected to surpass the leading markets in terms of growth rate as this region’s canned fruit market is likely to rise at a CAGR of 3.8% from 2013 to 2019. Rising disposable incomes, shifting food preferences, and changing demographics will govern the canned fruits market in the coming years in Asia Pacific. The growing number of working women, hectic lifestyles, and changing purchasing patterns are all expected to have a huge impact on the shape of the global canned fruits market in the coming years.
Some of the key participants in the global canned fruits market are CHB Group, Dole Food Company, Inc., Del Monte Corporation, Coca Cola Amatil Limited, ConAgra Foods Inc., Pinnacle Foods Inc., H.J. Heinz Company, Princes Group, Seneca Foods Corporation, and Rhodes Food Group. The research report profiles these players and provides a clear explanation of the competitive landscape of the global canned fruits market. Furthermore, the research report also explains research and development activities, financial overview, investment outlook, strategic mergers and acquisitions, and business and marketing plans of these top players operating in the global canned fruits market in the coming years.