Latin America Canned Fruits Market Size (2024-2030)

The Latin America Canned Fruits Market was valued at USD 1.3 billion in 2023. Over the forecast period of 2024-2030, it is projected to reach USD 1.64 billion by 2030, growing at a CAGR of 3.4%.

Canned fruits encompass raw fruits that have been pre-washed and pre-cut before being packed into sealed containers, facilitating direct consumption. These fruits undergo specific preservation techniques aimed at enhancing their shelf life. Additionally, the containers undergo high-temperature heating processes to eradicate any existing germs and bacteria.

Key Market Insights:

The expansion of the urban workforce and the increased demand for canned and packaged foods are pivotal drivers propelling the growth of the canned fruits market. Evolving lifestyles heightened penetration of e-commerce platforms—particularly in emerging economies—increased awareness among consumers regarding the nutritional advantages of fruits, and manufacturers' intensified focus on introducing novel products are additional significant factors fueling the market growth. Moreover, heightened investment in research and development capabilities, advancements in canning technology, and escalating demand for convenient food options on a global scale are anticipated to augment the value of the canned fruits market further.

Latin America Canned Fruits Market Drivers:

Increasing Inclination Towards Convenience Food drives market growth.

The rising inclination towards nutritious, convenient, and readily available food choices across established and emerging markets has led to a heightened demand for canned food products. Presently, a considerable segment of the working populace opts for fruits and vegetables during breakfast or as post-meal snacks, driving the demand for canned fruits due to their preservative-free and additive-free nature, rendering them a healthier option. Moreover, a notable portion of this growth trajectory is expected to be fueled by the increasing participation of women in the workforce and affluent disposable incomes.

Shifting the eating pattern toward canned fruit increases the demand.

Shifts in dietary habits among individuals play a pivotal role in the surge of canned fruit sales. The industry's growth is substantially driven by the fast-paced lifestyles of individuals, their expanding purchasing power, and the ongoing trend of urbanization. These dynamics ensure a consistent demand for canned fruits, making them a staple in households. Moreover, the widespread availability of canned fruits coupled with growing consumer awareness regarding their nutritional advantages further propels market expansion. Additionally, the market is witnessing increased traction owing to the competitive pricing of canned fruits compared to their fresh counterparts.

The increasing popularity of vegan food drives market growth.

Over the past few years, there has been a notable uptick in interest surrounding the development of plant-based meat substitutes derived from fruits and vegetables. Producers in the plant-based food sector are capitalizing on the use of fruits, vegetables, legumes, and pulses, while also exploring the potential of fruit-based ingredients due to their nutrient richness and versatile properties. These ingredients hold promise for enhancing product texture and flavor profiles, thus contributing to the overall appeal of plant-based meat alternatives.

Latin America Canned Fruits Market Restraints and Challenges:

The expansion of the demand for canned fruits is being propelled by several factors, including rapid urbanization, the proliferation of nuclear households, busy lifestyles, the growing need for convenient food storage solutions, and the increasing preference for ready-to-eat meals. However, the prohibitive pricing of canned fruits and the availability of more affordable packaging alternatives serve as constraints to their sales.

Latin America Canned Fruits Market Opportunities:

Despite often being overlooked, the canned fruits industry holds significant potential for profitability. While many new ventures concentrate on processed and packaged foods, those engaged in fruit canning can assure consumers access to fresh, unadulterated fruit, presenting a promising business opportunity. Although the market for canned fruits is already saturated, emerging companies can endeavor to penetrate it by offering fruit canned in unique or unconventional flavors. With an increasing emphasis on fruit consumption driven by growing awareness of the health benefits of a balanced diet, businesses have an opportunity to invest in diverse research and development initiatives aimed at introducing innovative products and services to meet consumer demand.

LATIN AMERICA CANNED FRUITS MARKET REPORT COVERAGE:

Latin America Canned Fruits Market Segmentation:

Latin America Canned Fruits Market Segmentation By Fruit Type:

• Peaches
• Pineapple
• Mandarin Oranges
• Pears
• Strawberries
• Raspberry
• Other Fruit Types

Peaches stand out as the predominant segment in the market. Canned peaches offer consumers comparable nutrient levels to fresh peaches, ensuring year-round access to this fruit without compromising on nutritional value. Known for their soft texture, lower fiber content compared to fresh counterparts, and ease of digestion, canned peaches are particularly suitable for individuals following a gastrointestinal soft diet, aiding in soothing upset stomachs and alleviating symptoms of diarrhea and gas.

On the other hand, canned pineapple in juice retains approximately 60 percent of the vitamin C found in fresh, raw pineapple. However, the canning process diminishes a crucial anti-inflammatory enzyme known as bromelain, which is renowned for its numerous health benefits associated with consuming sweet fruit. Bromelain is valued for its ability to alleviate sinus issues, reduce inflammation, and enhance digestion.

Latin America Canned Fruits Market Segmentation By Type:

• Inorganic
• Organic

Organic variety has emerged as the dominant and rapidly expanding segment within the market. The shift towards healthy and organic products has accelerated significantly due to the COVID-19 pandemic, with consumers increasingly prioritizing health-conscious choices. Embracing a healthy diet not only aligns with current wellness trends but also plays a crucial role in mitigating health-related risks.

Latin America Canned Fruits Market Segmentation By Form:

• Peeled
• Sliced
• Chopped
• Others

The sliced form currently holds the majority share in the market, while the chopped form is experiencing the most rapid growth among all segments.

Latin America Canned Fruits Market Segmentation By Application:

• Toppings and Dressings
• Salad
• Culinary
• Other Applications

Toppings and dressings constitute the dominant segment in the market, whereas the culinary segment is witnessing the most rapid growth among all segments.

Latin America Canned Fruits Market Segmentation By Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail
• Others

The market for canned fruits is poised for expansion, fueled by the ongoing development of distribution networks for canned goods worldwide. This growth is bolstered by both offline and online retailers specializing in niche or specialty food markets. The enduring appeal of canned fruits lies in their extended shelf life, which continues to heavily influence consumer preferences.

Private-label manufacturers hold a significant share in this category, offering products at competitive prices compared to branded or larger players. These goods are readily available in supermarkets and other retail outlets, contributing to increased sales in mass market channels as producers introduce low-cost canned goods in bulk quantities.

Latin America Canned Fruits Market Segmentation- by Region

• Brazil
• Argentina
• Colombia
• Chile
• Rest of Latin America

Argentina is currently experiencing remarkable growth in its canned fruit market, attributed to several key factors. Firstly, there's a notable preference for tropical canned fruit meals among consumers. Additionally, the food industry's high demand for commercially canned fruits contributes significantly to market expansion. Furthermore, canned fruit cocktails, comprising a mix of at least three fruits such as apples, pears, and peaches coated in sugar syrup, are popular as snacks or between meals.

The increasing penetration of e-commerce grocery stores in the nation is also driving the demand for packaged goods, including canned food products. For instance, Mercado Libre, a prominent online retailer, reported a substantial rise in unique active users from 61.1 million in 2019 to 112.5 million in 2020 in the region.  This growing internet access and online retail presence among Argentine consumers further contribute to the burgeoning sales of packaged or processed foods, including canned fruits, in the country.

COVID-19 Pandemic: Impact Analysis

In the medium term, consumers in Brazil have prioritized necessities and convenience foods due to the impact of the COVID-19 pandemic, driving an increase in retail sales within basic packaged food categories. According to the Brazilian Food Processors' Association, the country's food processing sector witnessed a notable production growth of 16.9 percent in 2021 compared to the previous year.

Additionally, in response to the pandemic, the World Health Organization has advocated for the consumption of nutritional fruits rich in essential minerals, and vitamins (such as E, C, and D), as a means to bolster immunity against the virus.

Latest Trends/ Developments:

• In August 2022, Del Monte Foods introduced its Gut Food product line to the market, consisting of canned fruit chunks enriched with antioxidants.
• Dole Packaged Foods, LLC introduced its latest line of functional fruit-based products, known as Dole Essentials fruit cups, in July 2022. These cups come in three varieties, including gluten-free options, non-GMO ingredients, no added sugars, and provide 50% of the daily recommended amount of vitamin C.

Key Players:

These are the top 10 players in the Latin American canned Fruits Market: -

1. Dole Food Company
2. ConAgra Foods
3. H.J. Heinz
4. Rhodes Food Group
5. Seneca Foods
6. Conserve
7. Ardo
8. Musselmans
9. Del Monte
10. Tropical Food Industries