The U.S. canned foods market was valued at USD 18.3 billion in 2022 and is expected to grow at a CAGR of 3.2% from 2023 to 2030. The market is driven by the increasing preference for convenience foods and the availability of a wide variety of canned foods. Furthermore, the rising health consciousness among consumers is driving the demand for healthy canned foods. The availability of canned foods with low sodium, no added preservatives, and fewer calories is attracting a large number of consumers. The increasing disposable income of the population and the rising demand for convenience food products are some of the other factors driving the market.

The increasing demand for organic canned food is expected to drive the market. Consumers are increasingly shifting their preference towards organic foods due to health benefits. Furthermore, organic canned food products have a longer shelf life and are free from preservatives which is further aiding the market growth. The rising demand for canned fruits and vegetables is one of the key trends witnessed in the market. The shift in the consumption pattern from fresh vegetables to processed vegetables is driving the demand for canned vegetables. Furthermore, the increasing demand for ready-to-eat meals is contributing to the market growth.

The availability of a wide variety of canned food products is facilitating the growth of the market. Companies are launching new products to meet the changing demands of consumers. For instance, in January 2021, Hormel Foods launched a new product line of canned proteins, including canned chicken, tuna, salmon, and beef. Additionally, the increasing number of online retail stores such as Amazon, Walmart, and Costco is further aiding the growth of the market. The availability of a wide variety of products at a discounted price is attracting an increasing number of customers. The rising demand for canned food products for pet consumption is expected to propel the market growth in the coming years.

The canned vegetables segment dominated the market and accounted for a share of around 25.8% in 2022. Rising health consciousness among consumers and increasing demand for convenience foods are some of the key factors driving the demand for canned vegetables. According to an article published by the University of Georgia, in November 2019, canned vegetables are an ideal choice for people looking to incorporate healthy food choices in their diet. Furthermore, increasing initiatives from government organizations are also driving the market growth.

The canned fruits segment is projected to expand at the fastest CAGR of 6.4% over the forecast period. Growing consumer preference for healthy eating, increasing demand for convenience foods, and rising trends of snacking among consumers are some of the key factors driving the demand for canned fruits. According to an article published by the Harvard T.H. Chan School of Public Health, in May 2020, canned fruits are a healthy and convenient snack option for consumers. Furthermore, increasing investment in product advertisement is also driving the market growth.

The supermarkets and hypermarkets segment accounted for the largest share of the U.S. canned foods products market in 2022. The segment is expected to remain dominant throughout the forecast period. Supermarkets and hypermarkets are the prominent retail outlets for the sale of canned food products. Moreover, these establishments offer a wide array of canned food products under one roof, thereby attracting consumers. Furthermore, in-store promotions, discounts, and customer loyalty programs are also boosting the growth of the segment.

The convenience stores segment is expected to witness the highest growth rate during the forecast period. The increasing number of convenience stores in the U.S. is driving the growth of the segment. Moreover, the availability of a wide variety of canned food products in these stores is also contributing to the growth. Moreover, the increasing preference for ready-to-eat meals and the rising demand for healthier and convenient meal options are expected to drive the segment in the coming years.

The shelf-stable segment accounted for the largest revenue share of 74.4% in the year 2022. The convenience and long shelf life of shelf-stable canned food products are the key factors propelling the demand for shelf-stable canned food products. Moreover, manufacturers are focusing on introducing innovative products to increase their shelf-stable canned food product portfolio, which is further driving the market growth. For instance, in August 2019, Nestlé S.A. introduced a new range of shelf-stable canned food products, such as Garden Gourmet Incredible Burger, Delicious Patties, and Veggie Balls.

The refrigerated segment is anticipated to expand at the highest CAGR of 8.3% over the forecast period. The increasing consumer inclination towards fresh and healthy products has increased the demand for refrigerated canned food products. Moreover, manufacturers are focusing on introducing innovative products to increase their refrigerated canned food product portfolio, which is further driving the market growth. For instance, in October 2019, Conagra Brands, Inc. introduced a new range of refrigerated canned food products, such as P.F. Chang’s Home Menu Ma Po Tofu with Rice and P.F. Chang’s Home Menu Kung Pao Chicken with Rice.

The United States accounted for the largest share of the global canned foods market in 2021. The presence of highly developed retail infrastructure, coupled with a high disposable income, is driving the growth of this market in the country. Moreover, the availability of a wide variety of canned food products with different flavors and ingredients is further contributing to the growth of the U.S. canned food market. For instance, in November 2020, Conagra Brands, Inc. launched a new range of canned food items, such as Spaghettios with Meatballs and Chef Boyardee Pizza Maker.

Europe is expected to be the second-largest market for canned food products. The presence of a large population with a high disposable income and changing lifestyle are some of the key factors driving the growth of the canned food market in the region. Additionally, the rising demand for convenience food products is expected to further drive the growth of the market in the region. For instance, in December 2021, Nestlé launched a new range of organic canned food products in the UK.

In this part of the U.S. Canned Foods Products business plan we will provide a detailed breakdown of all income and expense categories of the business. These projections will include cash flow projections and capital requirements for the business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenue for U.S. Canned Foods Products comes from the sale of canned goods. This includes canned fruits, vegetables, soups, meats, and other canned goods. In addition to these, revenue can also be generated through the sale of related products such as condiments, spices, and other canned food-related products.

Projecting Expenses
In this section, all the regular expenses related to keeping the U.S. Canned Foods Products business running will be described. This list of operating expenses includes wages, marketing and advertising, utilities, insurance policies, packaging, shipping, and others.

Some of the key companies operating in the U.S. canned food market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In July 2022, Campbell Soup Company launched a new line of organic canned vegetables.

– In August 2022, Conagra Brands Inc. launched a new line of organic canned beans.

– In September 2022, Del Monte Foods, Inc. launched a new line of organic canned soups.

Some of the prominent players in the U.S. canned food market include:

– Campbell Soup Company
– Conagra Brands Inc.
– Del Monte Foods, Inc.
– Hormel Foods Corporation
– General Mills, Inc.
– B&G Foods, Inc.
– TreeHouse Foods, Inc.
– The J.M. Smucker Company
– Unilever PLC
– The Kraft Heinz Company

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global U.S. canned foods market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Vegetables
– Fruits
– Meat & Fish
– Soups
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Convenience Stores
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Major Drivers of the U.S. Canned Foods Market?
[A]: The major drivers for the U.S. canned food market include convenience, affordability, long shelf life, and a growing demand for ready-to-eat food. Additionally, the increasing popularity of canned food among busy consumers who are looking for quick and nutritious meals is also driving market growth.

[Q]: Who are the Key Players in the U.S. Canned Foods Market?
[A]: The key players in the U.S. canned foods market are ConAgra Foods, Inc., Kraft Foods Group, Inc., General Mills, Inc., and B&G Foods, Inc.

[Q]: What is the Potential of Product Innovation in the U.S. Canned Foods Market?
[A]: Product innovation is expected to play a key role in the U.S. canned food market. Companies are focusing on developing new products and innovative packaging to attract new customers, as well as to retain existing ones. Additionally, with the rise of health consciousness among consumers, companies are introducing organic and healthier options in the canned food market.

[Q]: What are the Major Challenges Facing the U.S. Canned Food Market?
[A]: Major challenges facing the U.S. canned food market include the presence of numerous substitutes and the rising cost of raw materials. Additionally, the increasing focus on healthy eating is also creating a challenge for the market, as consumers are opting for fresh and frozen foods instead of canned food.

[Q]: What are the Opportunities for Growth in the U.S. Canned Foods Market?
[A]: Opportunities for growth in the U.S. canned food market include the development of new products and packaging designs and the introduction of organic and healthier options. Additionally, companies are also focusing on marketing and promotional activities to raise awareness and attract new customers.