Canned Meat Market

The global canned meat market is on the rise, with an anticipated CAGR of +6.0% in consumption volume and +8.4% in market value from 2022 to 2030. China leads as the largest consumer and producer, while Japan and the UK are major importers. Poland shows significant growth in exports, with Thailand, Germany, and China leading in export volume. Overall, the market is expected to continue growing in the coming years, driven by increasing demand worldwide.

Market Forecast

Driven by increasing demand for canned meat worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market volume to 85M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +8.4% for the period from 2022 to 2030, which is projected to bring the market value to $411.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Canned Meat

In 2022, approx. 53M tons of canned meat were consumed worldwide; approximately mirroring 2021 figures. The total consumption volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak volume of 61M tons. From 2018 to 2022, the growth of the global consumption remained at a lower figure.

The global canned meat market size totaled $216.3B in 2022, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $235.6B. From 2018 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

China (9.6M tons) remains the largest canned meat consuming country worldwide, comprising approx. 18% of total volume. Moreover, canned meat consumption in China exceeded the figures recorded by the second-largest consumer, India (3.9M tons), twofold. Japan (2.4M tons) ranked third in terms of total consumption with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +8.4%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+7.9% per year) and Japan (+1.6% per year).

In value terms, China ($39.8B) led the market, alone. The second position in the ranking was taken by Japan ($16.3B). It was followed by India.

In China, the canned meat market increased at an average annual rate of +7.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+3.3% per year) and India (+8.9% per year).

The countries with the highest levels of canned meat per capita consumption in 2022 were Japan (19 kg per person), the UK (19 kg per person) and Russia (14 kg per person).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +8.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Canned Meat

In 2022, the amount of canned meat produced worldwide reached 54M tons, leveling off at 2021. The total output volume increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 14%. As a result, production attained the peak volume of 61M tons. From 2018 to 2022, global production growth remained at a lower figure.

In value terms, canned meat production reached $212.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 17% against the previous year. As a result, production attained the peak level of $227.6B. From 2018 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (10M tons) constituted the country with the largest volume of canned meat production, comprising approx. 19% of total volume. Moreover, canned meat production in China exceeded the figures recorded by the second-largest producer, India (3.9M tons), threefold. The third position in this ranking was held by Russia (2M tons), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +7.8%. In the other countries, the average annual rates were as follows: India (+7.9% per year) and Russia (+2.3% per year).

Imports

World Imports of Canned Meat

In 2022, supplies from abroad of canned meat increased by 7% to 4M tons, rising for the second year in a row after two years of decline. In general, imports continue to indicate a mild expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, canned meat imports soared to $19.5B in 2022. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

Japan (738K tons) and the UK (592K tons) were the major importers of canned meat in 2022, reaching approx. 18% and 15% of total imports, respectively. The Netherlands (235K tons) ranks next in terms of the total imports with a 5.9% share, followed by Germany (5.9%) and the United States (4.7%). France (179K tons), Hong Kong SAR (119K tons), Belgium (111K tons), Canada (98K tons), Denmark (77K tons), Spain (72K tons) and Ireland (70K tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United States (with a CAGR of +8.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest canned meat importing markets worldwide were Japan ($3.3B), the UK ($3B) and the United States ($1.4B), together accounting for 40% of global imports.

In terms of the main importing countries, the United States, with a CAGR of +9.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average canned meat import price stood at $4,870 per ton in 2022, with an increase of 7.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($7,921 per ton), while Hong Kong SAR ($4,175 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Canned Meat

In 2022, shipments abroad of canned meat increased by 7.5% to 4.3M tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of 8.6% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, canned meat exports amounted to $20.2B in 2022. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, Thailand (683K tons), followed by China (431K tons), Poland (384K tons), Germany (367K tons), the United States (319K tons), the Netherlands (234K tons) and Brazil (232K tons) were the key exporters of canned meat, together mixing up 62% of total exports. The following exporters - Belgium (155K tons), Denmark (136K tons), Ireland (124K tons), France (109K tons), Spain (92K tons) and Canada (90K tons) - together made up 17% of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +12.0%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest canned meat supplying countries worldwide were Thailand ($3.1B), Germany ($1.9B) and China ($1.8B), with a combined 33% share of global exports. Poland, the United States, the Netherlands, Brazil, Belgium, Ireland, France, Canada, Denmark and Spain lagged somewhat behind, together accounting for a further 47%.

In terms of the main exporting countries, Poland, with a CAGR of +13.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average canned meat export price amounted to $4,735 per ton, picking up by 5.7% against the previous year. Overall, the export price recorded a slight expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($7,082 per ton), while Spain ($3,967 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+5.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform