U.S.: Canned Food Market 2024

Canned Food Market Size in the U.S.

The U.S. canned food market totaled $X in 2021, with an increase of 3.4% against the previous year. The market value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2017 when the market value increased by 9.2%. Canned food consumption peaked in 2021 and is expected to retain growth in the near future.

Canned Food Production in the U.S.

In value terms, canned food production declined modestly to $X in 2021. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 11% against the previous year. Canned food production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Canned Food Exports

Exports from the U.S.

In 2021, shipments abroad of canned food was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 12% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, canned food exports rose markedly to $X in 2021. The total export value increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 16%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for canned food exports from the United States, with a 51% share of total exports. Moreover, canned food exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), threefold. The third position in this ranking was taken by Japan (X tons), with a 6% share.

From 2012 to 2020, the average annual growth rate of volume to Canada totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+1.2% per year) and Japan (-0.2% per year).

In value terms, Canada ($X) remains the key foreign market for canned food exports from the United States, comprising 51% of total exports. The second position in the ranking was taken by Mexico ($X), with a 16% share of total exports. It was followed by Japan, with a 5.6% share.

From 2012 to 2020, the average annual growth rate of value to Canada totaled +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+1.9% per year) and Japan (+2.6% per year).

Export Prices by Country

In 2020, the average canned food export price amounted to $X per ton, falling by -1.6% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 3.9%. Over the period under review, the average export prices hit record highs at $X per ton in 2019, and then dropped in the following year.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Food Imports

Imports into the U.S.

In 2021, the amount of canned food imported into the United States expanded markedly to X tons, surging by 14% on the previous year's figure. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, canned food imports soared to $X in 2021. The total import value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Canada (X tons), Mexico (X tons) and China (X tons) were the main suppliers of canned food imports to the United States, with a combined 41% share of total imports. These countries were followed by Thailand, the Philippines, Peru, Spain, India, Indonesia, Greece, Italy, Brazil and Turkey, which together accounted for a further 41%.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +11.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Mexico ($X) and Brazil ($X) constituted the largest canned food suppliers to the United States, together comprising 41% of total imports. These countries were followed by Spain, China, Peru, Thailand, Greece, the Philippines, India, Italy, Indonesia and Turkey, which together accounted for a further 41%.

India, with a CAGR of +8.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average canned food import price amounted to $X per ton, waning by -2.6% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 4.2%. Over the period under review, average import prices attained the peak figure at $X per ton in 2019, and then shrank in the following year.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Italy (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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