The demand for canned goods will continue to grow in 2022, and the retail industry will add uncertainty in 2023

The demand for canned food rose in the early days of the global pandemic in 2020, and again after the war in Ukraine.

"In some markets, the demand for canned fish increased by three to four times in 2022, but it doesn't seem to have changed even though we have raised prices several times," said Sanita Legajeva, sales director of Latvian can producer Karavela at Conxemar 2022. We have been selling very well since 2020 and this year can be said to be another successful year."

"Of course, we face the same problems as other companies, including energy and logistics costs and so on. Nevertheless, we have managed to retain customers and increase production, with a 2022 plan to produce 84 million cans and achieve revenue of 65 million euros and profit of 4 million euros."

The fourth quarter will be the busiest, Legajeva said, with the company planning to produce 90 million cans next year. "We will be pragmatic and look at every step carefully. Wanting to support customers as much as possible by offering different solutions, the goal in 2023 is to maintain at least the same rate of expansion as in previous years and be ready for 2024."

However, Legajeva expects 2023 to be challenging for retailers, "with a lot of uncertainty about what will happen next year, given that consumer behavior is more conservative and a lot of retailers aren't going to add new products."

Karavela sells its products in Germany, Sweden, Denmark, the United Kingdom, Ukraine, Latvia, Canada, Azerbaijan, Uzbekistan and Georgia, with plans to expand into other markets. "We plan to enter the U.S. soon through Amazon. We are now trying to get feedback from US consumers because each market has different preferences."

"The other target is the Nordic market, which is closer to us, and also the Asian market, which we need to understand more. In addition, we have received expressions of interest from buyers in other different countries and will conduct further research over the next few years." Legajeva said.