The EU Canned Food Market Picks Up the Momentum

IndexBox has just published a new report: 'EU - Canned Food - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

After two years of decline, the EU canned food market increased by 3.6% to $7.7B in 2019. Over the period under review, consumption, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2016 when the market value increased by 7.7% against the previous year. The level of consumption peaked at $8.9B in 2007; however, from 2008 to 2019, consumption remained at a lower figure.

Consumption by Country

The countries with the highest volumes of canned food consumption in 2019 were Germany (445K tons), France (380K tons) and the UK (357K tons), together accounting for 50% of total consumption. These countries were followed by Spain, Ireland, Italy and the Netherlands, which together accounted for a further 31%.

From 2007 to 2019, the most notable rate of growth in terms of canned food consumption, amongst the leading consuming countries, was attained by Ireland, while canned food consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest canned food markets in the European Union were Germany ($1.5B), France ($1.3B) and Ireland ($1.2B), with a combined 52% share of the total market.

In 2019, the highest levels of canned food per capita consumption was registered in Ireland (40 kg per person), followed by the Netherlands (9.33 kg per person), France (5.78 kg per person) and Germany (5.43 kg per person), while the world average per capita consumption of canned food was estimated at 4.65 kg per person.

Market Forecast 2019-2030

Driven by rising demand for canned food in the European Union, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.2% for the period from 2019 to 2030, which is projected to bring the market volume to 2.4M tons by the end of 2030.

Production in the EU

After two years of decline, production of canned food increased by 2.9% to 3M tons in 2019. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 15% year-to-year. As a result, production reached the peak volume of 3M tons; afterwards, it flattened through to 2019.

In value terms, canned food production stood at $11.2B in 2019 estimated in export prices. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by 12% year-to-year. The level of production peaked in 2019 and is expected to retain growth in years to come.

Production by Country

The countries with the highest volumes of canned food production in 2019 were France (510K tons), Germany (462K tons) and Spain (382K tons), together comprising 46% of total production. These countries were followed by the Netherlands, Ireland, the UK, Poland and Italy, which together accounted for a further 41%.

From 2007 to 2019, the most notable rate of growth in terms of canned food production, amongst the leading producing countries, was attained by Ireland, while canned food production for the other leaders experienced more modest paces of growth.

Exports in the EU

In 2019, exports of canned food in the European Union expanded to 1.6M tons, with an increase of 3.5% on the previous year's figure. Total exports indicated a temperate expansion from 2007 to 2019: its volume increased at an average annual rate of +4.8% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +59.8% against 2010 indices. The pace of growth was the most pronounced in 2008 when exports increased by 16% y-o-y. The volume of export peaked in 2019 and is likely to see gradual growth in the near future.

In value terms, canned food exports rose to $9.1B (IndexBox estimates) in 2019. Overall, exports posted a buoyant increase. The pace of growth was the most pronounced in 2008 with an increase of 28% year-to-year. Over the period under review, exports hit record highs in 2019 and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from the Netherlands (313K tons), France (228K tons), Spain (221K tons), Germany (165K tons), Ireland (150K tons) and Poland (137K tons), together amounting to 76% of total export. Italy (58K tons), Denmark (48K tons), Belgium (46K tons), the UK (36K tons) and Austria (28K tons) took a minor share of total exports.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Spain, while exports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($3.2B) remains the largest canned food supplier in the European Union, comprising 35% of total exports. The second position in the ranking was occupied by France ($1.3B), with a 15% share of total exports. It was followed by Ireland, with a 11% share.

From 2007 to 2019, the average annual growth rate of value in the Netherlands stood at +15.4%. In the other countries, the average annual rates were as follows: France (+7.9% per year) and Ireland (+2.4% per year).

Export Prices by Country

The canned food export price in the European Union stood at $5,724 per ton in 2019, remaining stable against the previous year. Over the last twelve years, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2008 when the export price increased by 10% against the previous year. Over the period under review, export prices attained the maximum in 2019 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($10,124 per ton), while Spain ($2,617 per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

Imports in the EU

In 2019, approx. 1M tons of canned food were imported in the European Union; increasing by 6.2% on 2018. The total import volume increased at an average annual rate of +3.1% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure in 2019 and are expected to retain growth in years to come.

In value terms, canned food imports reached $3.5B (IndexBox estimates) in 2019. The total import value increased at an average annual rate of +3.7% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years.

Imports by Country

The UK (151K tons), Germany (149K tons), the Netherlands (122K tons), France (98K tons), Italy (75K tons) and Belgium (75K tons) represented roughly 66% of total imports of canned food in 2019. The following importers - Spain (44K tons), Ireland (43K tons), Sweden (42K tons), Poland (39K tons), Austria (26K tons) and the Czech Republic (23K tons) - together made up 22% of total imports.

From 2007 to 2019, the biggest increases were in Germany, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest canned food importing markets in the European Union were Germany ($602M), the UK ($529M) and the Netherlands ($432M), with a combined 44% share of total imports.

Germany recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the canned food import price in the European Union amounted to $3,500 per ton, which is down by -3.9% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when the import price increased by 7.1% year-to-year. The level of import peaked at $3,673 per ton in 2014; however, from 2015 to 2019, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Austria ($4,650 per ton), while Belgium ($2,162 per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by France, while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform