Although
a copious number of local and international players compete against
one another in the market for canned preserved food in Latin America
and Asia Pacific, just a few of them have a solid stronghold over it.
DelMonte Pacific Ltd., ConAgra Foods, H.J. Heinz Co., MTR Foods, and
Pinnacle Foods are to name a few of such prominent companies.
They
have managed to reach a position of prominence in the market for
canned preserved food in Latin America and Asia Pacific by their
continued thrust on product development – they have been
experimenting with new and unique flavors or added nutrients in their
quest to expand their consumer base. They are also seen training
their sights on developing economies of Brazil and Asian nations of
China, Japan, and India. The relatively underpenetrated canned
preserved food markets in these nations, where the disposable incomes
of consumers are rising impressively, spell opportunity.
Request
to view Sample Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=7610
A
report on the market for canned preserved food in Asia Pacific and
Latin America by Transparency Market Research states that it would
rise at a 6.40% CAGR over the course of the forecast period starting
from 2015 and ending in 2021. Rising at this pace, the market which
was worth US$24.4 bn in 2014, is predicted to attain a value of
US$38.1 bn by 2021-end.
Fish,
meat, fruits, and vegetables are the main canned preserved foods
being sold in Latin America and Asia Pacific. Among them, the segment
of canned fish led in 2014 with more than 30% share in the market. In
the next couple of years too, the segment of canned fish is expected
to hold on its dominant share in the market because of the rising
awareness about the health benefits of consuming fish. Between Asia
Pacific and Latin America, canned preserved food are seeing higher
uptake in Asia Pacific. This is because of the increasing influence
of western influence on food habits of the people and their rising
spending capacity. The canned preserved food market in the region is
expected to rise at a 6.9% CAGR over the course of the forecast
period.
Time
Crunch Coupled With Rising Disposable Incomes of People Fuels Canned
Preserved Food Demand
Two
factors have gone hand in hand in driving demand in canned
preserved food market in Asia Pacific and Latin America. One
is the increasing disposable incomes of people and the other is their
time crunch owing to demanding jobs. This not just leaves them
hard-pressed to find time for cooking elaborate meals but also with
the means to spend on ready-to-eat food products such as canned
preserved foods. Brazil, Chile, India, and China with their large
population whose spending capacities are increasing gradually are
some of the main markets for canned preserved food.
High
Demand for Tuna Fish in Canned Preserved Foods Market
A
noticeable trend in in the canned preserved foods market is the high
demand for fish, particularly tuna fish, which are a powerhouse of
amino acids and omega 3 fatty acids. While amino acids are essential
for the proper functioning of the brain and maintaining a proper
hormonal balance, omega 3 fatty acids help strengthen the
cardiovascular system.
No comments:
Post a Comment