Boston, MA -- (ReleaseWire) -- 06/30/2014 -- The rapid urbanisation trend, as well as lifestyle changes, are the main reasons behind the relatively strong growth of canned/preserved food during the last ten years. Middle-income families with women working outside the home have been looking for rapid meal solutions that can feed the family without spending lots of time on cooking, and this category has been a good answer to this demand. Relatively affordable unit prices compared to traditional meals also played a key role in this demand increase. For instance, fresh seafood is relatively very expensive and usually not available in retail outlets at all times, while canned seafood (usually tuna) is now available even in small grocery retailers in remote areas with unit prices which can be afforded even by the lower income segment of society.
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Iran Protein Co remained the leader in the Iranian canned/preserved food category, mainly as a result of the strong presence of its Shilton brand in canned/preserved fish/seafood. The company accounted for almost 24% of the value in canned/preserved food (excluding ready meals) because of the strong brand image of Shilton and diversity in its product range which is rare among other suppliers of canned fish/seafood. Shilton has tuna fish in both vegetable oil and olive oil. It also has smoked flavoured tuna, fat free tuna and tuna fish in herbs which gives it a good position among many other manufacturers of canned fish/seafood. Another reason behind the success of this country is its strong distribution network which guarantees its presence in most of the urban areas, especially big cities with stronger consumer bases.
Improved distribution and availability, increased spending on advertising and promotion, the expansion of modern retail outlets, and rapid urbanisation all stimulate increased consumption. However, growth will continue to be limited by the popularity and wide availability of fresh products and the strong preference amongst Iranians for homemade meals. Unit price will also play a key role in progress of this category in Iran. If the inflation rate continues to rise fast like it did during the review period, this could negatively affect consumer purchasing power and thus negatively impact growth of this category. Overall, canned/preserved food is expected to experience a CAGR of 4% in retail volume terms during the forecast period, which is lower than the review period CAGR. Of 6%. The main reason for the slower growth will be the expected increase in unit price which will make many consumers unable to pay for these products.
Discover the latest market trends and uncover sources of future market growth for the Canned/Preserved Food industry in Iran with research from Euromonitor's team of in-country analysts.
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The Canned/Preserved Food in Iran market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Canned/Preserved Food in Iran?
- What are the major brands in Iran?
- As economic prospects improve, are consumers starting to move away from comparatively inexpensive canned food and back to frozen and chilled processed offerings?
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Product coverage: Canned/Preserved Beans, Canned/Preserved Fish/Seafood, Canned/Preserved Fruit, Canned/Preserved Meat and Meat Products, Canned/Preserved Pasta, Canned/Preserved Ready Meals, Canned/Preserved Soup, Canned/Preserved Tomatoes, Canned/Preserved Vegetables, Other Canned/Preserved Food.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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