A canned food once filled can be eaten to restore not just one 'drumstick' on the hunger bar, but can also restore one heart of health. This is what makes this item unlike many others. Rotten and harmful foods can be 'purified' using canned food, as canned food will never cause harmful effects.
This option of storing food can save a lot of space in an inventory as many food items alongside tin cans can be converted into Canned Food and can make your consumption more efficient as you may only have one food bar gone but only have cooked chicken, thus wasting much of the chicken's potential. With Canned Food this isn't the problem always restoring one heart and one food bar.
Food factories are often made up using renewable foods alongside Canning Machines to utilize tin cans quite substantially, and create an easier form of food storage.