According to Future Market Insights (FMI), demand for canned fruits in Europe is likely to expand by 1-2% per year over the next five years. Currently, Europe accounts for almost 70% share of the world’s total imports of canned fruits and vegetables.
This growth is driven by a variety of factors, including increased demand for convenience food, increasing number of health-conscious consumers looking for healthy snacks, and the growing popularity of exotic fruits.
Europe’s canned fruit range is diverse and includes some traditional favorites such as apples and oranges, as well as more exotic offerings such as lychees, dragon fruit, and passionfruit. The worldwide canned fruits market is expected to reach a valuation of US$ 9.95 Bn in 2023 with Europe emerging as a leading revenue generation market.
Europeans are increasingly becoming aware of the health benefits of consuming fruits. This will lead to increased demand for canned fruits, as they offer a convenient and affordable way to get their daily intake of fruits. Canned fruits are usually preserved with added sugars or syrup. However, they still provide a valuable source of vitamins, minerals, and fiber that can help to support a healthy lifestyle.
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Moreover, canned fruits have a long shelf life, so they are available year-round, even when fresh fruit may not be. This makes it easier to find and buy canned fruits than fresh ones. Additionally, the fact that canned fruits come pre-packaged makes them easy to store and transport. This will increase canned fruits demand across European countries like Germany, Italy, and the UK.
Canned fruits are also becoming increasingly popular due to their low cost. Compared to fresh fruit, canned fruits tend to be much cheaper and more accessible for low-income households. This makes them a popular choice for those who are looking for ways to save money while still getting enough of their daily servings of fruit.
Finally, the growing trend of meal prepping has also led to an increase in the demand for canned fruits. Meal prepping typically involves planning out meals ahead of time and pre-portioning ingredients. Since canned fruits are already packaged and ready to go, they are perfect for this type of meal preparation.
Key Takeaways from the Canned Fruits Market
- The global canned fruits market is projected to grow at a sluggish CAGR of 9% during the projected period (2023-2033).
- Germany’s canned fruits market is anticipated to register a CAGR of 4% during the forecast period.
- Canned fruits market is projected to secure a valuation of US$ 12.01 Bn by the end of 2033.
- Growing awareness regarding the health benefits associated with fruit consumption will drive the demand for canned fruits in Europe.
“Rising awareness of the health benefits of consuming fruits will accelerate demand for canned fruits in Europe. Hence, key companies are using promotional activities to raise awareness associated with fruit consumption.”– Says an FMI Analyst.
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Competition Landscape in the Canned Fruits Market
The market for canned fruits in Europe is highly competitive due to large presence of small and big companies. To capitalize on emerging opportunities and improve their revenue share, manufacturers are concentrating on expansion tactics such as new product launches, acquisitions, partnerships, and collaborations. Additionally, they are using various promotional initiatives to raise awareness and expand their customer base.
Việt Nam, Bolton Group, and Feinkost Dittmann are the key companies in Europe canned fruits market.
Recent Developments
- In March 2022, for the first time, Red Gold Tomatoes from the European Union began an advertising effort in India to market canned tomatoes from Italy.
- In December 2021, Việt Nam announced the launch of canned lychee on the shelves of a supermarket in France. The company released more than 20 tonnes of canned lychees.
- In November 2022, Del Monte, the UK’s leading canned fruit brand partnered with Lisa Faulkner the Cookery author and television personality, to promote the positive benefits of eating delicious canned fruits.
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Key Segments in the Canned Fruits Market
Nature:
- Organic
- Conventional
Form:
- Whole Fruit
- Cut Fruit
Distribution Channel:
- Supermarkets/Hypermarkets
- Online Retail Stores
- Specialty Stores
- Others
Region:
- North America
- Latin America
- Asia Pacific
- MEA (Middle East and Africa)
- Europe
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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