Global Canned Fruits Market to Reach $12.7 Billion by 2026

Food canning is defined as a technique to store food at standard temperatures by keeping food in tightly closed vacuum-sealed containers and heat processing properly. Canning process involves washing, sorting/grading, preparation, container filling, exhausting, container sealing, heat sterilization, cooling, labeling/casing and shipment storage. The canning of fruits and vegetables has witnessed a shift in equipment usage from batch units to continuous units, where cans are passed through an air lock and are then subjected to rotation in a pressurized heat compartment, followed by cooling in a cold-water cooler compartment. Amid the COVID-19 crisis, the global market for Canned Fruits estimated at US$10.5 Billion in the year 2020, is projected to reach a revised size of US$12.7 Billion by 2026, growing at a CAGR of 3.4% over the analysis period. Canned Peaches, one of the segments analyzed in the report, is projected to grow at a 4.4% CAGR to reach US$3.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Canned Mixed Fruit segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 20.9% share of the global Canned Fruits market.

The U.S. Market is Estimated at $2.8 Billion in 2021, While China is Forecast to Reach $2.4 Billion by 2026

The Canned Fruits market in the U.S. is estimated at US$2.8 Billion in the year 2021. The country currently accounts for a 27.05% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.4 Billion in the year 2026 trailing a CAGR of 5.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR while Rest of European market (as defined in the study) will reach US$2.6 Billion by the end of the analysis period.

Growth in the market is driven by factors such as increased shelf life of the fruits due to use of better food preservation methods, rapid urbanization rates, busy lifestyles, and rising demand for convenience foods among other factors. Increase in nuclear households and rising disposable incomes of households have led to changes in food consumption habits of consumers, with convenience foods finding favor among consumers. Increase in working women across the world, easier availability of a wider variety of fruits which can be canned are other factors promoting market growth. Canned fruits are available regardless of the seasons and also do not have the stalks, peels and pits that need to be removed, which adds on to the convenience factor.

Canned Pineapples Segment to Reach $2.2 Billion by 2026

Canned pineapple is packed in unique flat cans that have a capacity of 4-5 slices. A can of twenty ounces usually can hold ten cored slices, while a thirty-ounce can holds 8 slices. Canned pineapple is available as spears, cored cylinders or as a whole and also comes in chunks, big cubes, small pieces or crushed. In the global Canned Pineapples segment, USA, Canada, Japan, China and Europe will drive the 2.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 Billion in the year 2020 will reach a projected size of US$1.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$282.6 Million by the year 2026, while Latin America will expand at a 3% CAGR through the analysis period.