Overview and Scope
Canned seafood refers to professionally prepared seafood that has been processed, sealed in a hermetic container for human consumption. It is used for providing a convenient and affordable source of protein, omega-3 fatty acids, vitamins, and minerals that can be used in a variety of dishes.
Sizing and Forecast
The canned seafood market size has grown strongly in recent years. It will grow from $33.4 billion in 2023 to $35.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to globalization of cuisine, increased health benefits, urbanization, busy lifestyles, rising disposable income, global trade.
The canned seafood market size is expected to see strong growth in the next few years. It will grow to $44.26 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to sustainability practices, clean label movement, e-commerce growth, premiumization of products, plant-based alternatives, regulatory compliance. Major trends in the forecast period include innovation in packaging, flavor innovation, ready-to-eat products, customization and personalization, cultural influences.
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Segmentation & Regional Insights
The canned seafood market covered in this report is segmented –
1) By Type: Canned Fish, Canned Mollusks, Canned Crustaceans, Canned Cephalopods
2) By Distribution channel: Hypermarkets and Supermarkets, Convenience stores, Independent grocery stores, Specialty stores, Online retail
3) By End User: Households, Commercial
Europe was the largest region in the canned seafood market in 2023. South America is expected to be the fastest-growing region in the global canned seafood market during the forecast period. The regions covered in the canned seafood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise in health problems like heart disease and diabetes is expected to propel the growth of the canned seafood market going forward. Heart disease refers to a type of condition that affects the heart or blood vessels such as coronary artery disease, congestive heart failure, heart rhythm problems, and others. Canned seafood is a rich source of omega-3 fatty acids which offer health benefits such as anti-inflammatory properties, decreased triglycerides, lowered blood pressure slightly, reduced blood clotting, decreased risk of strokes and heart failure, and reduced irregular heartbeats that is associated with a range of chronic diseases, including heart disease and diabetes. For instance, in April 2023, according to the British Heart Foundation, a UK-based cardiovascular research charity, In the UK, one in eight men and one in fourteen women died from coronary heart disease. Furthermore, for instance, in December 2021, according to the International Diabetes Federation, a Belgium-based diabetes community approximately 537 million adults are suffering from diabetes globally, whereas 3 out of 4 adults are in low- and middle-income countries. Therefore, the rise in health problems like heart disease and diabetes drives the growth of the canned seafood market.
Key Industry Players
Major companies operating in the canned seafood market report are StarKist Co., Maruha Nichiro Corporation, Wild Planet Foods Inc., Trident Seafoods Corporation, Connors Brothers Limited, Thai Union Group, Bumble Bee Foods LLC, Dongwon Food Co. Ltd., Nissui Corporation, American Tuna Inc., Universal Canning Incorporated, Tri Marine Group, Mowi ASA, Sajo Industries Co. Ltd., Nueva Pescanova S.L, Royal Greenland A/S, The Calvo Group, Austevoll Seafood ASA, Marine Harvest ASA, Nippon Suisan Kaisha Ltd., Century Pacific Food Inc., Bolton Group, OKAM, John West Foods, Clover Leaf Seafoods Company, Brunswick Seafood, Chicken of the Sea, Empresas Aquachile SA, Gomes da Costa, Empress International Ltd.
The canned seafood market report table of contents includes:
- Executive Summary
- Canned Seafood Market Characteristics
- Canned Seafood Market Trends And Strategies
- Canned Seafood Market – Macro Economic Scenario
- Global Canned Seafood Market Size and Growth
- Canned Seafood Market Segmentation
- Canned Seafood Market Regional And Country Analysis
………………….
- Key Mergers And Acquisitions In The Canned Seafood Market
- Canned Seafood Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Canned Seafood Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Canned Seafood Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Canned Seafood Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: StarKist Co. Financial Performance
Table 75: Maruha Nichiro Corporation Financial Performance
Table 76: Wild Planet Foods Inc. Financial Performance
Table 77: Trident Seafoods Corporation Financial Performance
Table 78: Connors Brothers Limited Financial Performance
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