One reason for the recent surge in popularity is the reliability of these products, which are cheap, easy to prepare and have a long shelf life, said the market researcher.
According to the report, the market for cold canned meats, which includes old British favourites Spam, PEK and corned beef, rose 7 per cent between 2003 and 2005, after previously suffering a 6 per cent decline in sales between 1999 and 2001.
And although corned beef accounts for around half of sales in the sector, it is Spam that has really taken off, with Mintel recording a double-digit sales increase for the product in the last two years alone.
This is partly because the product has been trendied up to fit more modern needs, for example as an ingredient in tortilla wraps or as a pizza topping.
But there is still scope for more development, Mintel suggests.
"A relatively low level of product development and advertising continues to restrain market performance and compared to canned fish, canned meats have been slow or unable to capitalise on the health trends," said Mintel's senior market analyst, David Bird.
In contrast, baked bean manufacturers were quick to spice up their products and reposition them to capitalize on health trends.
The market for baked beans is currently valued at £265mn, a 13 per cent increase since 2001. By the end of the year, it is expected to grow by a further 5 per cent to reach £278mn.
And it will not stop there, according to Mintel's forecast, which anticipates a further 30 per cent rise in value over the next five years taking sales up to around £360mn.
"Baked beans have seen phenomenal growth for such an old British staple. With health issues now high on the agenda in the UK, baked beans have been successfully repositioned as a convenient yet nutritious food, and there is little doubt that they are benefiting from the healthy eating trend," said Bird.
"The baked beans sector has also profited from some exciting new product developments, which have brought this old favourite into the 21st Century kitchen. The British have often customised baked beans at home by adding spices or sauces but baked beans flavoured with Mexican, Thai and Sweet Chilli spices are now all available straight from the can."
And there is further product development in the pipeline, with Heinz due to launch ready-made toastable beans on toast within the next 12-15 months.
Another reason for the increased popularity of the product was the launch of Premier Foods' Branston Beans in late 2005, which fuelled what became known as the battle of beans. And celebrity chef Jamie Oliver also gave the product a boost when he featured beans on toast on the menu of his east London restaurant.
Indeed, 9 out of 10 households currently buy tinned meals and meat, with overall sales in the category expected to reach an estimated 660 million this year, a 10 per cent increase since 2001.
Baked beans currently make up around 42 per cent of the total canned meals and meat market, with the remainder made up of canned meat, accounting for just over 40 per cent of the market, and canned pasta, accounting for just under 20 per cent.
"The market's continued success is a testament to one of the more peculiar idiosyncrasies of the British. The unique selling point of modern-day canned meals is their utter reliability as they are cheap, easy to prepare, and provide a convenient fuel with often a mix of protein and carbohydrates, popular amongst the young," said Bird.