The Size of Europe Canned Seafood Market Size is estimated to be at USD 5.64 billion in 2024 and is expected to reach USD 6.99 billion by 2029, to grow at 4.44% CAGR from 2024 to 2029.
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 industry growth. In addition, factors such as changing lifestyles coupled with increasing affordability are likely to drive the industry's 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, 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 the growth. However, a decrease in the price of products such as canned tuna is expected to drive growth. 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 such as to increase the canned seafood consumption is likely to propel the growth in the Europe Canned Seafood Market over the coming years
This Research Report on Europe Canned Seafood Market is segmented and sub segmented into following categories
Europe Canned Seafood Industry By Product Type
Canned tuna emerged as one of the widely consumed products in the industry. On account of its superior properties including a rich source of lean proteins. In addition, other nutrients offered by the product such as omega 3 fatty acid that results in the improvement of personal health, is anticipated for increasing the consumption.
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 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 the market growth. However, demand is anticipated to increase on account of the growing consumption of such products in South East Asia and Australia over the forecast period.
Europe Canned Seafood Market By Region
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 THE EUROPE CANNED SEAFOOD MARKET
Key Players In The Europe 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.
Frequently Asked Questions
Understanding the drivers behind the demand helps stakeholders identify market opportunities and develop effective marketing strategies. Factors may include convenience, long shelf life, sustainability, and the nutritional benefits of seafood.
Challenges could range from sourcing sustainable seafood, maintaining product quality and freshness, competition from fresh and frozen seafood alternatives, pricing pressures, and supply chain logistics.
Canned seafood encompasses a wide variety of products, including tuna, salmon, sardines, mackerel, anchovies, crab, shrimp, and clams. Knowing the preferences of consumers and trends in consumption helps businesses tailor their product offerings.
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