The
global canned fruits market is highly concentrated with the top three
players accounting for over 50% of the total market in 2012. Some of
the players in the market include Dole Food Company, Inc., H.J. Heinz
Company, ConAgra Foods, Seneca, and Del Monte. Most of the companies
operating in canned
fruits market own various brands, Transparency Market Research
(TMR) finds in a new study. For instance, Del Monte has a wide range
of brands such as Contadina, Del Monte, College Inn, S&W, and
many others.
Companies
are entering into strategic partnerships and acquisitions in order to
expand in the market. These partnerships and joint ventures help
companies widen their product portfolio and expand their brand across
the globe. A case in point would be Seneca Foods Corporation. The
company has acquired Independent Foods, LLC. This acquisition has
helped the company to add canned pears, apples, and cherries to its
product portfolio.
Convenience
and Nutritional Benefits Drive Demand for Canned Fruits
The
steadily evolving food habits among the people due to urbanization,
increasing disposable income, and emergence of nuclear families have
led to an increase in the consumption of canned fruits. Other factors
driving the demand for canned fruits include increase in the number
of working women, busy lifestyles, and the availability of a wide
range of fruits in different categories. As an increasing number of
consumers seek convenience food, canned fruits have become an
integral part of the grocery budget for many families. Canned fruits
are convenient because they are available throughout the year,
regardless of seasons. Moreover, they have no pits, peels, and
stalks, making them ready to use as soon as the fruit can is opened.
Canned fruits last for many months without the need for
refrigerating.
Canned
fruits are also appealing to the health conscious people as they do
not contain preservatives and the nutritional value of these fruits
are same as freshly picked fruits. As canned fruits are a good source
of vitamin A, C, minerals, and fibers, their demand is high among
consumers, including the health conscious people.
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Rigorous
Testing and Monitoring by USDA to Impede Growth of Canned Fruits
Market
The
additives and ingredients used in canned fruits are strictly
regulated and monitored by the U.S. Department of Agriculture (USDA).
The USDA has set certain standards and criteria for determining the
safety of canned fruits. Rigorous testing is done to define the
safety levels of different products. All canned fruits need to be
U.S. Grade B and should be packed as per guidelines with a
declaration of the proper content. The quality of the fruit, the
strength of the syrup, the fruit mass in the container, and the
possible existence of micro-biological decay are checked for.
Products that do not conform to these strict regulations are rejected
and not marketed.
Another
factor affecting the demand for canned fruits is the availability of
frozen fruits, says TMR. The frozen fruits market is on the ascent
owing to the inclination of an increasing number of consumers towards
hygienic and convenient options. A majority of nutrients in frozen
fruits are locked and retained whereas canned fruits are blanched and
flash frozen to remove bacteria, causing a loss of some vitamins in
the process. Additionally, the availability of different fruit juices
in innovative packaging makes them more convenient, portable and
storable, which is also reducing the demand for canned fruits.
Increased
Health Awareness Creates Demand for Organic Canned Fruits
“Canned
fruits made from organic fruits presents a huge opportunity for
players,” states a TMR analyst. The growing preference for organic
and natural ingredients over their synthetic counterparts is driving
the demand for organic canned fruits. Companies such as Eden Organic,
Bionaturae, and Native Forest, provide organic canned fruits. Organic
and natural ingredients are thus gaining momentum and will drive the
consumption of organic canned fruits.
According
to the report, the global market opportunity in canned fruits is
expected to rise from US$9.45 bn in 2015 to over US$10.82 bn by 2019.
Europe followed by North America is expected to lead in the global
canned fruits market by 2019. Europe is expected to account for 45.6%
of the global canned fruits market.
This
information is based on the findings of a report published by
Transparency Market Research titled “Canned Fruits Market - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 -
2019.”
The
global canned fruits market is segmented as follows:
Geography
- EMEA
- North America
- Asia-Pacific
- Rest of the World
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