Canned Seafood Market

Canned Seafood Market Size (2024 to 2029)

Canned Seafood Market Value will be estimated to grow USD 36.8 billion in 2023 and is expected to reach USD 48.56 billion by 2028 at a 5.70 % CAGR.

Canned seafood is seafood that has been processed, sealed in an airtight container such as a sealed tin can, and subjected to heat. Canning is a method of preserving food and provides a typical shelf life ranging from one to five years. A rise in the popularity of ready-to-eat seafood products due to improvement in distribution infrastructure is anticipated to drive the Canned Seafood Market growth. In addition, factors such as changing lifestyles coupled with increasing affordability are likely to drive industry growth over the coming years. The demand for the product is growing due to an increase in product consumption because of the health benefits coupled with the adoption of sustainable fish farming techniques adopted by the manufacturers.

In addition, advantages offered by this product including extended shelf life, and ease of cooking, are anticipated to drive growth. The price of the product is highly affected by the unpredictability in the production level of fish. Lower-income levels of the population in developing economies are unable to afford the product which is likely to hamper industry growth. Moreover, the seasonal availability of the product is anticipated to hamper growth. However, a decrease in the price of products such as canned tuna is expected to drive the growth of the Canned Seafood Market. The industry is majorly influenced by climatic conditions and contamination of seafood which is anticipated to limit the market growth. However, a recent recommendation by countries to increase canned seafood consumption is likely to propel the growth in the Canned Seafood Market over the coming years.

REPORT COVERAGE:

SEGMENTAL ANALYSIS

Global Canned Seafood Industry Analysis By Product:                       

Furthermore, the advantage of the product include an improved immune system, reduced blood pressure, and reduced depression, coupled with strengthened bones is likely to increase the consumption of this product. In addition, the products aid in weight reduction and cancer prevention, which is anticipated to raise the consumption of the product over the coming years. The canned shrimp market is expected to grow significantly during the forecast period owing to factors such as high nutritional value, the use of the product across multiple cuisines and adoption of the product by high-end restaurants. In addition, the product provides benefits such as low-fat content coupled with a high concentration of easily digestible protein, which is expected to drive market growth. The growth of canned prawns is expected to be hindered by the high incidences of illegal trade of prawns leading to environmental damage. In addition, the use of harmful antibiotics during the processing of such prawns is expected to restrain market growth. However, demand is anticipated to increase on account of the growing consumption by such products in South East Asia and Australia over the forecast period.

REGIONAL ANALYSIS

The Asia Pacific accounted for the largest share of the Canned Seafood Market followed by Europe and North America. In addition, the high demand for ready-to-eat meals and seafood products in the region is expected to drive market growth. Furthermore, a rise in the demand for high-shelf life seafood products is expected to result in increased consumption of canned seafood. The presence of major market players in the Asia Pacific region coupled with increased disposable income and gyrating consumer preferences towards ready-to-consume food is likely to emerge as the primary factor for market growth over the coming years. The increased consumption of seafood by the population owing to its high health benefits is anticipated to propel industry growth.

Growth in consumption of such products in restaurants, hotels, and industries in France is likely to drive growth in Europe. The strong purchasing power of consumers in this region is likely to propel the product demand over the coming years. The increased quality of seafood offered by distributors coupled with new eco-friendly packaging technologies is expected to accelerate the market growth over the forecast period. Growing demand for the product in Germany and the UK is expected to result in an increased production volume. In addition, technological innovations including aquaculture practices in this region are anticipated to increase industry growth over the coming years.

KEY PLAYERS IN CANNED SEAFOOD MARKET:

Key players in canned seafood market are Bumble Bee Seafoods, StarKist Co, Nippon Suisan Kaisha Ltd, Maruha Nichiro Corporation,Icicle Seafoods Inc, LDH (La Doria) Ltd, Thai Union Frozen Products , American Tuna, Inc, Universal Canning, Inc, Trident Seafoods Corporation, Connors Bros. Ltd.

DETAILED SEGMENTATION OF GLOBAL CANNED SEAFOOD MARKET INCLUDED IN THIS REPORT    

This research report on the global canned seafood market has been segmented and sub-segmented based on Product, & region.  

By Product

• Tuna         

• Salmon    

• Sardines  

• Prawns    

• Shrimps   

• Other Seafood     

By Region

• North America

• Europe

• Asia Pacific

• Latin America

• The Middle East and Africa