Press release
Canned Seafood Market Report 2024: Strategies And Recent Developments
Canned Seafood Market
The Business Research Company offers in-depth market insights through Canned Seafood Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
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
Major Driver - Heart Disease And Diabetes Concerns Fuel Canned Seafood Market
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.
Competitive Landscape:
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.
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Top Trend - Innovative Nutrient-Rich Canned Tuna Enhance Canned Seafood Market
Product innovation has emerged as a key trend gaining popularity in the canned seafood market. Major market players operating in the canned seafood market are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in September 2021, John West Foods, a UK-based seafood marketing company, introduced a nutrient-rich canned tuna range in the functional food category. John West's nutrient-rich tuna range is available in three different variants such as energy, heart, and immunity to offer heart function, enhanced immunity, and a high amount of vitamin B to help reduce tiredness and fatigue with ready-to-eat convenience to support busy and active lifestyles.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Canned Seafood Market Characteristics
3. Canned Seafood Market Trends And Strategies
4. Canned Seafood Market - Macro Economic Scenario
5. Canned Seafood Market Size And Growth
…..
27. Canned Seafood Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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