Canned Seafood Market Expected to Reach USD 63.64 Billion by 2032, with a CAGR of 5.99%

Share this Story

Canada, Ottawa, Dec. 10, 2024 (GLOBE NEWSWIRE) — Thai Union has revealed the launch of John West’s ECOTWIST, a new packaging solution that focuses on ease of use, sustainability, and waste reduction. It is currently offered in the U.K., which is one of the main markets for Thai Union, and there are intentions to possibly introduce ECOTWIST in other nations as well. ECOTWIST is available at all Asda stores in the UK, and other big retailers are set to start stocking it soon. The business has recently launched a patented can tower for their tuna products, equipped with a SmartStrip for holding the cans in place, eliminating the necessity for external wrapping.

Introspective Market Research is excited to unveil its latest report, Canned Seafood Market This in-depth analysis shows that the global Canned Seafood market, valued at USD 37.70 billion in 2023, is poised for substantial growth, expected to hit USD 63.64 billion by 2032. This growth trajectory aligns with a strong CAGR of 5.99% during the forecast period from 2024 to 2032.

Canned seafood is seafood that has been cooked and preserved in a metal container to preserve its freshness and flavor. Canning seafood involves subjecting it to high temperatures to kill any bacteria that could cause it to spoil. The fish or other seafood is sealed in a container with a small amount of liquid, such as water or oil. This helps to keep the seafood moist and extends its shelf life for a longer period.

Canned seafood is utilized in a variety of cooking scenarios. It is a versatile and valuable component in a variety of dishes such as salads, sandwiches, pasta, soups, and appetizers. An illustration of this is canned tuna being frequently used in sandwiches and salads, whereas canned salmon can be incorporated into patties or added to pasta for a quick meal. Furthermore, canned seafood is frequently selected for outdoor pursuits like camping or hiking due to its portability and extended shelf life, making it an ideal choice for convenient meals.

Canned fish is becoming more popular because it is convenient to use. It allows for time saving with pre-made or simple-to-prepare meals, eliminating the need for extensive cooking or preparation. Canning also helps preserve important nutrients such as omega-3 fatty acids in fish, turning canned seafood into a nutritious choice. Also, canned seafood has a longer shelf life, reducing food waste and allowing people in areas with limited access to fresh seafood to still enjoy fish. To sum up, canned seafood provides a handy, healthy, and versatile choice for incorporating seafood into different recipes and cooking methods.

Download Sample 250 Pages Of Travel Retail Market Report@ https://introspectivemarketresearch.com/request/1159

Leading Factors Driving the Canned Seafood Market:

Increasing recognition of the advantages of good health

Seafood, consisting of fish and shellfish, is an excellent source of omega-3 fatty acids, vitamins, and minerals that promote overall health and well-being. Because of the growing awareness of health concerns and the desire for foods rich in nutrients, the canned fish market is experiencing rapid growth. The health benefits of Omega-3 fatty acids, primarily present in fish such as salmon, sardines, and tuna, are widely recognized. These fats are especially good for the heart, lowering the chances of heart disease and enhancing cognitive capabilities. As research shows more benefits of omega-3 fatty acids for health, canned seafood becomes more popular for its convenience in providing these essential nutrients.

Canned seafood is popular among those who are health-conscious due to its high-quality protein content and lower saturated fats compared to other animal proteins. Moreover, the health benefits of canned seafood are enhanced by the vitamins D, calcium, and selenium it contains. As consumers gain more understanding, they are increasingly opting for canned seafood for its nutritional benefits and possible health perks as a vital part of their healthy diets. The growing focus on the health benefits of canned seafood is fueling its market growth as health-conscious consumers look for easy and nutritious meal choices.

Online Shopping And Selling Directly To Customers

The change in customer preferences towards quicker shopping experiences and the growing trend of online shopping have enabled seafood companies to take advantage of digital platforms. By utilizing e-commerce platforms, these businesses can interact with clients without intermediaries, offering a more convenient and easily accessible way to purchase canned seafood products. Seafood companies can extend their market reach and attract more customers by utilizing the internet, which helps them overcome limitations imposed by distance. A strong online presence, such as mobile apps or user-friendly websites, allows businesses to showcase their products, educate customers about the benefits, and personalize the shopping process. Engaging with clients directly encourages brand loyalty and trust, especially those with specific dietary requirements or seeking convenience.

E-commerce allows seafood companies to collect important information on consumer habits and likes, helping them create specific marketing plans and innovative products. Businesses can customize their products to meet a wide range of customer preferences and needs, resulting in increased sales and a larger market share. E-commerce platforms provide convenience and easy access, simplifying the buying process and addressing the increasing need for home delivery services. This pattern coincides with the hectic schedules of consumers, making canned seafood a convenient choice for those in need of quick, healthy meal options. In general, seizing the chance to utilize e-commerce and direct-to-consumer sales can help canned seafood brands grow their market presence, improve customer interaction, and boost digital sales.

“Research made simple and affordable – Trusted Research Tailored just for you – IMR Knowledge Cluster”

https://www.imrknowledgecluster.com/

What are the Key Opportunities for the Canned Seafood Market?

The demand for canned seafood in developing economies is being fueled by rising incomes, rapid urbanization, and shifting dietary preferences. Manufacturers are focusing on growing consumer markets in these regions for cost-effective, protein-rich food options. Businesses are being encouraged by environmental concerns to develop creative, eco-friendly packaging solutions. Many companies are now using recyclable, biodegradable, or reusable packaging to align with global sustainability goals and appeal to environmentally conscious consumers. There is an increasing trend towards the popularity of packaging redesigns that blend modern aesthetics with practicality. Convenient to open lids and options for resealing enhance the consumer’s experience and boost product appeal through user-friendly and practical attributes.

Strategic investments and the introduction of new products by key market leaders are expanding product choices and satisfying a range of consumer preferences. Innovations such as premium options, diverse tastes, and wellness-focused products are accelerating market growth. The emergence of online shopping platforms has revolutionized the way consumers buy canned seafood. Online shopping makes it easier to access a wider range of products at competitive prices, particularly benefiting urban dwellers and tech-savvy individuals. Canned seafood remains popular because it is convenient and ideal for busy individuals, new cooks, and those looking for quick dining options. Its long shelf life and ease of consumption make it an essential item for various demographics.

What are the Key Challenges Canned Seafood Market?

Environmental problems are being caused by activities such as overfishing, bycatch, and unsustainable harvesting methods. These worries may discourage eco-conscious shoppers from buying canned seafood, emphasizing the importance of sustainable sourcing practices. Although canned seafood can be stored for long periods, individuals in areas with limited access to refrigeration or lacking knowledge of food preservation may find it challenging to keep track of storage and expiration dates.

These matters are particularly crucial for vulnerable groups like small children and expectant mothers. Producers must adhere to strict quality standards to meet the stringent food safety regulations in importing regions such as the European Union. Not complying with regulations or delaying approval processes can hinder market entry and product distribution speed. Variances in political and legal systems across countries create challenges in conducting trade. Custom duties, variations in laws, and bureaucratic barriers may increase costs and hinder expansion into international markets. Problems occur in ensuring product quality and on-time delivery to international markets because exporting countries lack proper infrastructure, such as inadequate cold chain facilities, inefficient transportation systems, and underdeveloped ports.

Key Manufacturers

Market key players and organizations within a specific industry or market that significantly influence its dynamics. Identifying these key players is essential for understanding competitive positioning, market trends, and strategic opportunities.

American Tuna, Inc. (Us)
Bolton Group International (Italy)
Bonduelle Group (France)
Bumble Bee Foods LLC (United States)
Capital Fish Company (U.S)
Connors Bros. Ltd. (Canada)
Crown Prince, Inc. (United States)
Dongwon Industries Co., Ltd. (South Korea)
Empresas Aquachile S.A. (Chile)
Gomes Da Costa (Brazil)
H.J. Heinz Company (United States)
Icicle Seafoods Inc (U.S)
John West Foods Ltd. (United Kingdom)
Ldh (La Doria) Ltd (UK)
Marine Harvest Asa (Norway)
Maruha Nichiro Corporation (Japan)
Nippon Suisan Kaisha Ltd (Japan)
Nueva Pescanova (Spain)
Ocean Brands Gp (Canada)
Sajo Industries (South Korea)
Scout Canning (US)
Simon Peter Fish & Meat Company (India)
Starkist Co. (US)
Thai Union Group Pcl (Thailand)
The Calvo Group (Guam), and Other Active Players

Do you need any industry insights on Travel Retail Market, Make an enquiry now >>? https://introspectivemarketresearch.com/inquiry/1159

In March 2023, Bumble Bee Foods, LLC, announced that it had acquired Wild Planet Foods, a leading producer of sustainable canned seafood. The acquisition is expected to help Bumble Bee expand its product portfolio and reach new customers.

In February 2023, Thai Union Group PCL, one of the world’s largest seafood companies, announced that it had signed a definitive agreement to acquire American Tuna, a leading producer of canned tuna in the United States. The acquisition is expected to help Thai Union expand its presence in the US market.

In January 2023, StarKist Co., the world’s largest canned tuna company, announced that it has launched a new line of canned seafood products that are made with sustainably sourced seafood. The new line of products is part of StarKist’s commitment to sustainability.

Key Segments of Market Report

By Type

Tuna segment is expected to dominate the market during the forecast period. Tuna is well-liked as a seafood due to its ability to be used in various ways, its health benefits, and delicious taste. Various preferences and tastes are accommodated by the different types of tuna, including skipjack, albacore, yellowfin, and others. Tuna is a popular option for those focused on their health because it contains high amounts of protein, omega-3 fatty acids, and important nutrients. Tuna’s versatility in cooking is evident as it can be included in salads, sandwiches, pasta dishes, and sushi, making it a popular choice for canned seafood. Furthermore, the assortment of canned tuna choices, whether packed in water, oil, or different sauces, enhances its flexibility and caters to the various preferences and needs of customers.

By Distribution Channel

Supermarkets/hypermarkets were the main players in the canned seafood market because of their ability to offer a complete shopping experience. These shops provide a diverse selection of canned seafood like tuna, sardines, and salmon, along with various other food items. Retail giants like Walmart, Carrefour, and Tesco have utilized their broad operations to provide a diverse selection of products from different brands, catering to a variety of consumer preferences. For instance, Tesco expanded its range of responsibly sourced canned seafood, while Carrefour emphasized premium and organic options, aiming at consumers who are mindful of their health.

Supermarkets/hypermarkets are the most preferred options for purchasing canned seafood because of their widespread availability and convenience. Increasing sales through promotions, in-store markdowns, and attractive packaging is crucial. The affordable and reliably high-quality private-label canned seafood line at Walmart gained popularity among budget-conscious consumers. Moreover, many supermarkets have adopted transparent labeling techniques, displaying terms like “wild-caught” or “dolphin-safe,” which are appealing to environmentally conscious shoppers. Supermarkets and hypermarkets are essential for the growth of the canned seafood market because of their convenience, diverse product offerings, and focused advertising techniques.

By Region

The Asia-Pacific is expected to control the market for the duration of the forecast period. Canned fish is an excellent option due to the strong consumer demand in the Asia-Pacific region for fast and nutritious meal choices. The need for easy food choices is increasing because of more money to spend and busier schedules. Numerous countries in the Asia-Pacific area possess abundant marine resources and a well-established custom of consuming seafood. The wide range of plentiful seafood serves as a solid base for the production and consumption of canned seafood. Furthermore, the canned seafood industry in the area is further strengthened by investments in marketing, distribution, innovative packaging, and product offerings that cater to the tastes of the local community. By combining these elements, it is forecasted that the Asia-Pacific region will surpass in both the manufacture and use of canned seafood, strengthening its status as the leading power in the worldwide canned seafood industry.

The Asia-Pacific region is benefiting from a growing focus on sustainability in sourcing and processing seafood, in response to the global push for eco-friendly products. Numerous countries in the region are adopting sustainable fishing techniques and obtaining certifications to ensure the long-term availability of marine resources. This commitment not only enhances the reputation of the region as a reliable source of high-quality seafood but also attracts environmentally-conscious customers. The increasing need for canned seafood products with additional features, such as flavourings or designed for diets, solidifies the region’s leading position in the global canned seafood market.

If you require any specific information that is not covered currently, we will provide the same as a part of the customization >> https://introspectivemarketresearch.com/custom-research/1159

Comprehensive Offerings:

Historical Market Size and Competitive Analysis (2017–2023): Detailed assessment of market size and competitive landscape over the past years.
Historical Pricing Trends and Regional Price Curve (2017–2023): Analysis of historical pricing data and price trends across different regions.
Market Size, Share, and Forecast by Segment (2024–2032): Projections and detailed insights into market size, share, and future growth by segment.
Market Dynamics: In-depth analysis of growth drivers, restraints, opportunities, and key trends, with a focus on regional variations.
Market Trend Analysis: Evaluation of emerging trends that are shaping the market landscape.
Import and Export Analysis: Examination of trade patterns and their impact on market dynamics.
Market Segmentation: Comprehensive analysis of market segments and sub-segments, with a regional breakdown.
Competitive Landscape: Strategic profiles of key players across regions, including competitive benchmarking.
PESTLE Analysis: Evaluation of the market through Political, Economic, Social, Technological, Legal, and Environmental factors.
PORTER’s Five Forces Analysis: Assessment of competitive forces influencing the market.
Industry Value Chain Analysis: Examination of the value chain to identify key stages and contributors.
Legal and Regulatory Environment by Region: Analysis of the legal landscape and its implications for business operations.
Strategic Opportunities and SWOT Analysis: Identification of lucrative business opportunities, coupled with a SWOT analysis.
Conclusion and Strategic Recommendations: Final insights and actionable recommendations for stakeholders.

Related Reports:

Yeast Extract Market: Yeast Extract Market Size Was Valued at USD 4.6 Billion in 2023, and is Projected to Reach USD 8.6 Billion by 2032, Growing at a CAGR of 7.2% From 2024-2032.

Rice Protein Market: Rice Protein Market Size Was Valued at USD 798.2 Million in 2023, and is Projected to Reach USD 1,146.0 Million by 2032, Growing at a CAGR of 4.1% From 2024-2032.

Astaxanthin Market: Global Astaxanthin Market Size Was Valued at USD 721.80 Million In 2022 And Is Projected to Reach USD 1386.29 Million By 2030, Growing at A CAGR of 8.5% From 2023 To 2030.

Animal Feed Micronutrient Market: Animal Feed Micronutrient Market Size is Valued at USD 1.97 Billion in 2023, and is Projected to Reach USD 3.22 Billion by 2032, Growing at a CAGR of 6.30% From 2024-2032.

Black Seed Oil Market: Black Seed Oil Market Size Was Valued at USD 20.69 Million in 2023 and is Projected to Reach USD 38.91 Million by 2032, Growing at a CAGR of 7.27% From 2024-2032.

Pea Protein Market: Pea Protein Market Size Was Valued at USD 1.12 Billion in 2023 and is Projected to Reach USD 2.18 Billion by 2032, Growing at a CAGR of 7.68% From 2024-2032.

Dietary Fibers Market: Dietary Fibers Market Size Was Valued at USD 7.95 billion in 2023 and is Projected to Reach USD 18.14 Billion by 2032, Growing at a CAGR of 9.6% From 2024-2032.

Synthetic Food Market: Global Synthetic Food Market Size Was Valued at USD 17.9 Billion In 2022 And Is Projected to Reach USD 27.3 Billion By 2030, Growing at A CAGR of 5.4% From 2023 To 2030.

Organic Spices Market: Organic Spices Market Size Was Valued at USD 322.94 Million in 2022, and is Projected to Reach USD 491.86 Million by 2030, Growing at a CAGR of 5.4% From 2023-2030.

Broth Market: Broth Market Size Was Valued at USD 7.0 Billion in 2022, and is Projected to Reach USD 9.7 Billion by 2030, Growing at a CAGR of 4.2% From 2023-2030.

About Us:

Introspective Market Research is a top global market research company that uses big data and advanced analytics to offer strategic insights and consulting services, enabling clients to predict future market trends. Our group of specialists at IMR helps businesses obtain a thorough understanding of past and present market trends, providing a clear insight into future advancements.

Our extensive professional connections with top companies provide us with essential market data, enabling us to create accurate research tables and achieve the highest level of precision in market prediction. Led by CEO Mrs Swati Kalagate, who promotes a culture of excellence, we are dedicated to providing top-notch data and assisting our clients in reaching their business objectives.

The information in our reports comes from direct interviews with important executives from leading companies in the respective industries. Our thorough secondary data-gathering process involves comprehensive online and offline research, as well as detailed conversations with industry experts and analysts.

Contact Us:

Canada Office

Introspective Market Research Private Limited, 138 Downes Street Unit 6203- M5E 0E4, Toronto, Canada.

APAC Office

Introspective Market Research Private Limited, Office No. 401, Saudamini Commercial Complex, Kothrud, Pune, India 411038

Ph no: +91-81800-96367 / +91-7410103736

Email: sales@introspectivemarketresearch.com

LinkedIn| Twitter| Facebook | Instagram