Press release
Canned Seafood Market Size, Share, Key Driver, Industry Analysis And Top Key Players 2024
Canned Seafood Market
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.
Market Overview -
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.
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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.
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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