$3.8bn
$XXX.Xm
7,932
248
$XXX.Xm
Canned fruit and vegetable processors in Canada manufacture vegetable-based sauces, soups, canned produce, juices and dehydrated fruits and vegetables. Expanding health concerns regarding some of canned fruit and vegetable processors' products and boosting income levels have prompted consumers to turn to fresher or premium alternative goods. Despite manufacturers' efforts to introduce healthier brand extensions and safer packaging, demand for canned fruit and vegetable products has waned, pressuring canned fruit and vegetable processors' revenue. During the current period, boosted production from some processors has helped to mitigate overall losses. IBISWorld expects revenue for canned fruit and vegetable processing in Canada to dip at a CAGR of 1.2% to reach $3.8 billion through the end of 2023, despite a forecast boost of 14.3% in 2023.In addition to the complications canned fruit and vegetable processors in Canada have endured due to swelling health concerns, the intense competition from international trade has persisted through the end of 2023, with imports expected to satisfy 74.7% of domestic demand in 2023. The leading producers of canned food have endured strengthening competition from generic brands. In turn, the leading canned fruit and vegetable processors have kept their product prices low to compete with private-label products, lowering profit expansion. The stiff competition has prompted some to leave the industry. Demand will expand in 2022 and 2023 after falling in 2021 amid the spread of COVID-19, which prompted the government to issue fiscal stimulus payments, effectively boosting domestic per capita disposable income and strengthening spending on fresh and premium produce.Through the end of 2028, the recent dip in demand for canned fruit and vegetable products will continue. Consumers will expansively opt for fresh produce and ingredients, rather than canned food products. While processors will develop new and healthier products with safer packaging, this will only serve to lessen the rate of decline. With an improvement in the domestic economy and a swell in disposable incomes through the end of 2028, consumers will boost consumption of premium products, like organic produce and frozen meals, harming canned fruit and vegetable processors' performance. In turn, these processors' revenue is forecast to dip at a CAGR of 1.3% to total $3.6 billion through the end of 2028.
Industry revenue has declined at a CAGR of 1.2 % over the past five years, to reach an estimated $3.8bn in 2023.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Bonduelle Canada | 134.4 | 3.9 | 2.9 | |
McCormick & Company Inc. | 98.7 | 14.3 | 14.5 | |
Conagra Brands | 50.9 | 7.9 | 15.5 |
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Industry revenue is measured across several distinct product and services lines, including Canned fruits and vegetables, Canned fruit and vegetable juices and Ketchup and other sauces. Canned fruits and vegetables is the largest segment of the Canned Fruit & Vegetable Processing in Canada.
Canned fruits and vegetables replace fresh produce in times of economic distress
Operators in the Canned Fruit and Vegetable Processing industry in Canada purchase fruits and vegetables and process them with other ingredients to create a variety of food products including canned fruit and vegetables, juices and drinks (except frozen), canned soups (except seafood), jams, baby food, sauces and dehydrated fruits and vegetables. The final products are then packaged and sold to consumers at various retail channels.
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NAICS 311420 - Canned Fruit & Vegetable Processing in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Canadian canned fruit and vegetable processors found temporary relief from COVID-19, which prompted consumers to stockpile canned goods. Canned fruit and vegetable sales’ lon...
Learn about an industry's products and services, markets and trends in international trade.
Canned fruit and vegetable sales are subject to economic fluctuations, while ketchup and tomato-based sauces are pantry staples. When the economy expands, consumers tend to r...
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Canned fruit and vegetable processors often locate in Ontario and British Columbia, regions with ideal agricultural conditions like fertile land and favourable climates. Havi...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Price competition prevents significant market domination. Since canned produce is known for being economical, price is a considerable basis of competition for canned fruit an...
Learn about the performance of the top companies in the industry.
Amid sluggish domestic demand, prominent canned fruit and vegetable processors are looking abroad to boost sales. In 2021, McCormick acquired FONA International, a manufactur...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
COVID-19 assistance contributed to already inflated sales. Stockpiling and low consumer confidence in 2020 helped drive demand for canned fruit and vegetable processing throu...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit continues to fall despite inflated demand amid COVID-19. Broader trends away from canned fruit and vegetable products are dragging profit down.
Including values and annual change:
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Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Canned Fruit & Vegetable Processing industry in Canada is $3.8bn in 2024.
There are 248 businesses in the Canned Fruit & Vegetable Processing industry in Canada, which has declined at a CAGR of 0.6 % between 2018 and 2023.
The market size of the Canned Fruit & Vegetable Processing industry in Canada has been declining at a CAGR of 1.2 % between 2018 and 2023.
Over the next five years, the Canned Fruit & Vegetable Processing industry in Canada is expected to decline.
The biggest companies operating in the Canned Fruit & Vegetable Processing market in Canada are Bonduelle Canada, McCormick & Company Inc. and Conagra Brands
Processing fruit and vegetable juices and Processing ketchup, tomato paste, horseradish, vinegar and other sauces are part of the Canned Fruit & Vegetable Processing industry.
The company holding the most market share in Canada is Bonduelle Canada.
The level of competition is moderate and increasing in the Canned Fruit & Vegetable Processing industry in Canada.