Business
Del Monte Files for Bankruptcy as Shoppers Turn Away from Canned Foods
After more than a century on grocery shelves, Del Monte—the iconic name behind canned fruits, vegetables, Contadina tomato sauces, and College Inn broths—is facing its toughest challenge yet. The 138-year-old company has filed for Chapter 11 bankruptcy, citing financial strain from pandemic-era overproduction, inflation, rising material costs, and heavy debt. But beyond the dollars and cents lies a deeper concern: Americans just aren’t eating canned food the way they used to.
Once a kitchen staple, canned goods have lost their shine in modern households. According to the U.S. Department of Agriculture, in 1970, 30% of vegetables and 11% of fruits available for consumption came from cans. Today, those numbers have shrunk to just 23% for vegetables and a mere 5% for fruit.
Del Monte’s troubles mirror the larger struggles of the canned food industry. During the pandemic, food companies ramped up production to meet soaring demand from stay-at-home shoppers. But as the crisis eased, those stockpiles turned into liabilities. Coupled with the rising costs of steel and aluminum used in packaging, the financial pressure only grew.
The company now finds itself searching for a buyer, but even new ownership won’t change the fact that consumer habits have shifted. The modern shopper is far more likely to reach for fresh or frozen produce instead of the canned versions that lined pantry shelves a generation ago.
And money is tight. Grocery prices are roughly 30% higher than they were just three years ago, reports The New York Times. With every dollar stretched, shoppers often opt for cheaper store-brand options over higher-priced name brands like Del Monte. For a cash-strapped company, this shift in loyalty is devastating.
Canned food still holds a place in American kitchens, particularly for emergency stockpiles or quick meals, but it no longer dominates the way it once did. The nostalgia that once fueled Del Monte’s brand power is fading, replaced by consumer preferences that lean toward convenience and freshness.
The bankruptcy process may offer Del Monte some breathing room, but the road ahead remains uncertain. Whoever takes over will not only inherit warehouses full of canned goods, but also the challenge of reinventing a brand for a market that no longer craves what it’s selling.
