Market Size and CAGR
Global Canned Chili Market reached US$ 488.8 million in 2022 and is expected to reach US$ 628.9 million by 2030, growing with a CAGR of 3.2% during the forecast period 2024-2031.
Consumers who are fans of spice and savory recipes want to include chili in their food products. The improper availability of fresh chili drives consumers to take up similar products that can add spiciness to the products. Canned chili is wisely adopted by consumers to add flavour and taste to various food products.
Canned chili is a mixture of various ingredients such as water, beans, crushed tomatoes, textured flour, other spices and seasonings. They support the end product's taste with the mixed flavor when used as a base ingredient. The convenience and ready-to-use nature of canned chili primarily drive the global canned chili market growth.
Canned product manufacturers are choosing various advancement techniques in the processing and preservation of canned products to maintain their nutritional value and produce better quality products. The technological advancements taking place in the development of canned food products positively drive the market growth for canned chili.
Report Scope
| Metrics | Details |
| CAGR | 3.2% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2023-2030 |
| Data Availability | Value (US$) |
| Segments Covered | Type, Distribution Channel, Application and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
For more details on this report Request for Sample
Market Dynamics
Increasing Demand for Convenience Food Products
Canned chili is highly popular as a ready-to-eat food product among global consumers. The versatility of canned chili for its use in various ranges of dishes positively drives consumers' attention towards it. Canned chili is used as a base ingredient or toppings for multiple food products such as burgers and hot dogs. The high expansion of the food service industry also impacts the canned chili market, due to increased demand for these products in the food service sectors.
Canned chili provides excellent flavor rich from the food product, without much preparation. The product provides a time-saving option for consumers and helps in adding flavor rich ingredients to the product. With the hectic lifestyle of the people, ready-to-eat and convenient products are highly in demand, positively driving the market growth. The long shelf life and convenience of usage are the major driving factor for the global canned chili market.
New and Innovative Product Launches
Canned chili is widely used by the consumer for various applications as an ingredient or is widely accepted as a standalone dish. With the increasing veganism among the global population, the need for vegan options in every range of food products is increasing. To meet the demand of the vegan population, manufacturers are introducing vegan products into the market.
In April 2022, Hormel announced the launch of Plant-Based Chili with Beans into the market. The product is made of textured vegetable protein and soy crumbles along with various seasonings and spices. The product is free from various allergens such as dairy, eggs and gluten and is gaining immense popularity among the vegan population due to its vegan-friendly nature.
High Preference for Fresh Food Products
The increasing health consciousness among consumers is driving them to take up fresh and organic products. The high demand for fresh products may pose a greater challenge to the market growth limiting the sales of canned products. Most people prefer fresh chili over canned due to the high spiciness in the fresh chilies.
Fresh products don’t include any of the processing that canned product goes through, preserving their freshness and taste with maximum spiciness. Improper packing and damage of a few of the products such as bulging and leaking may cause misconceptions among consumers about the quality of various canned products, hindering the market growth.
Segmentation Analysis
The global canned chili market is segmented based on type, distribution channel, application and region.
Increasing Prevalence of Gluten Intolerance
The global canned chili market is segmented based on type into with chili beans and without beans. Canned chili with beans accounted for the largest share of the global market due to high consumer preference due to its taste. Pinto beans and kidney beans are commonly used beans to make canned chili beans. With the growing preference for meat alternatives, the demand for canned chili with beans is increasing as it can be used without using meat.
The new product launches by the manufacturing drive the segment growth. Conagra Brands, Inc., one of North America's leading branded food companies announced its partnership with Wendy's, an American international fast-food restaurant chain in April 2023. The partnership helps expand the reach of Wendy's Chili with Beans to a large consumer scale. This famous homestyle chili is packed with the perfect mix of pepper and beans and is loaded with 29g of protein per can.
Geographical Shares
Increased Demand for Convenience Food Products
North America accounted for the largest share of the global canned chili market, due to the increasing demand for convenience and ready-to-eat products. Canned products are gaining popularity among people with tight schedules and busy lifestyles. Easy to prepare and use nature of this product is highly used by the employment-population that can use these products that are easy to store for longer periods.
Various types of canned and processed food products are actively consumed by North Americans, including canned chili. According to Simmons National Consumer Survey, 125,34 million Americans consumed canned/ready-made chili in 2020. The availability of the highly flavored and affordability and convenience are the driving factors for the market growth in this region.
Canned Chili Key Players
The major global players in the market include Amy's Kitchen, Inc., Campbell Soup Company, Skyline Chili, Conagra Brands, Hormel Foods LLC, B & G Foods, Inc., La Preferida, Bush Brothers & Company, Trader Joe's and Ray's Brand Chili, Inc.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic had both positive and negative impacts on the global canned chili market. Manufacturers faced high challenges in the raw material sourcing to produce the end-product. The lack of proper resources and labor negatively impacted the market growth. In addition, some of the manufacturing companies were shut down temporarily due to strict regulations by the government.
The limited availability of fresh products highly increased the demand for processed and canned products with similar applications and properties. The advantage of canned chili due to its longer shelf-life and the convenient nature of its use in various food applications made it easier for consumers to depend on these products for quick and easy meals, increasing the product demand in the market.
Russia- Ukraine War Impact
The Russia-Ukraine negatively impacted every sector of industries. Similarly, the food industry also faced severe challenges due to the disruption in the demand-supply chain of various raw materials and the distribution of final products to end-users all over the world. The import and export trade disruptions created due to the war resulted in economic disturbances in the industry.
Key Developments
- In August 2023, Nissin Foods USA, announced the launch of GEKI, the chili-infused noodles. The product is infused with real chili flakes into the noodles.
- In February 2023, Ghia, the non-alcoholic aperitif brand, added a new flavor to their Le Spritz line offering with the launch of Sumac & Chili Spritz. The final formulation has a 40% chili amount.
- In January 2023, The Billington Group, unveiled the launch of its new offering Very Lazy range, Chilli Boost. The product is available in two flavors, Smokey and Zingy.
Why Purchase the Report?
- To visualize the global canned chili market segmentation based on type, distribution channel, application and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of canned chili market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global canned chili market report would provide approximately 69 tables, 64 figures and 230 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
