Download Sample, Rising Inclination Towards Adoption of Pescatarians Expands the Market
The canned seafood market is majorly driven by the growing demand for convenience food products and the innovations in canning technologies, which led to the introduction of diverse products in the market, resulting in broader consumer base. As seafoods are great source of proteins, vitamins and minerals necessary for health benefits, offering lipids, carbohydrates and omega-3 fatty acids helping in development of human body increases the market growth. However, rising demand for canned seafood products, for their value-added nutrition and convenient source of omega-3 fatty acids, strong flavour, resulting in introduction of new flavours that can be served with dishes, resulting in introduction of new flavours by market players. For instance, in March 2023, natural grocers launched skipjack tuna and wild pink salmon canned sea food varieties of wild sardines.
Furthermore, according to 2023 report by USDA, the purchasing of canned pink salmon and salmon fillets has increased more than US$ 9 million, led to increasing consumers interest in higher-quality, premium canned seafood, appealing for quick meal solutions, resulting in opening of new seafood canaries for increasing accessibility to broader consumer base. For instance, in July 2024, Island Creek announced to launch ready-to-go tinted seafood canary, offering different seasonings such as garlic and chili and can be use as toping on pasta and toast with longer shelf-stable for at least three years, resulting in rise of purchasing power and fuelling growth of market.
Furthermore, according to 2023 report by USDA, the purchasing of canned pink salmon and salmon fillets has increased more than US$ 9 million, led to increasing consumers interest in higher-quality, premium canned seafood, appealing for quick meal solutions, resulting in opening of new seafood canaries for increasing accessibility to broader consumer base. For instance, in July 2024, Island Creek announced to launch ready-to-go tinted seafood canary, offering different seasonings such as garlic and chili and can be use as toping on pasta and toast with longer shelf-stable for at least three years, resulting in rise of purchasing power and fuelling growth of market.
Acquisitions and Partnerships are Providing Traction to The Market Development
Growing demand for omega-3 fatty acids rich seafood products, low in mercury, and sustainably sourced canned seafood, offering convenience and long shelf life, appealing to busy lifestyle, led to expansion of canned seafood market system and results in increasing investment and new centres launching at various locations by several market players. For instance, in October 2022, Semillero Partners announced seed funding of worth US$4 million dollar to Scout, helping in accelerating omni-channel brand strategy and operational expansion and making transformative impact on seafood market system. Additionally, in May 2024, Simak’s launched canning centre wroth US$ 67 million in Oman, capable of processing 27,000 metric tons of seafood annually, and is able to produce more than 1 million tons cans yearly, evenly distributed tuna and sardines, also produces fish oil and animal feed from by product generated through canning process.
Furthermore, consumers are showing interest in gourmet and organic specialty flavours, resulting in growing emphasis on sustainable fishing practices, resulting in increasing launching of value-added seafood products in diverse serve options by market players to cater to the increased demand in the market. For instance, in September 2023, DeMedici announced to launch small sardines in olive oil, smoked mussels, a new specialty tinned seafood in the line from Galicia, and serving as delicious appetizer set that can be served with tomato slices, salads, and Spanish tortillas, imparting unique texture, flavour and colour right out of the tin.
Furthermore, consumers are showing interest in gourmet and organic specialty flavours, resulting in growing emphasis on sustainable fishing practices, resulting in increasing launching of value-added seafood products in diverse serve options by market players to cater to the increased demand in the market. For instance, in September 2023, DeMedici announced to launch small sardines in olive oil, smoked mussels, a new specialty tinned seafood in the line from Galicia, and serving as delicious appetizer set that can be served with tomato slices, salads, and Spanish tortillas, imparting unique texture, flavour and colour right out of the tin.
Recent Trends in the Canned Seafood Industry:
- Shift towards eco-friendly biodegradable packaging
- Demand for omega-3 fatty acids, and low-fat content
- Flavour innovation in pre seasoned seafood
- Introducing wider range of seafood species
- Improving technology in processing and canning
- Seeking for Marine Stewardship Council and Aquaculture Stewardship Council certified food
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Trading Restrictions and Contamination Risk Hampers the Growth of Market
Compliance of seafood products with stringent food safety regulations and standards of labelling and quality control is complex and costly process, affecting availability and cost of canned seafood, and impacting the growth of market. However, growing consumers preference for fresh and frozen seafood over canned due to better taste and higher nutritional value, results in reduced demand for canned seafood, and hampering market growth.
Additionally, increasing investing in new technologies for better preservation, and packaging can be expensive and does not always guaranteed return on investment, resulting in market resistance if it does not compete with consumer preferences, and slowing of market growth. Furthermore, increasing cases of contamination in canned seafood due to improper processing, resulting in increasing preference towards natural or minimally processed options. For instance, in February 2023, FDA announced a product recall for canned geisha medium shrimp due to swallowing, leaking and bursting of cans, possibility of under processed which is leading to potential for spoilage and pathogens.
Additionally, increasing investing in new technologies for better preservation, and packaging can be expensive and does not always guaranteed return on investment, resulting in market resistance if it does not compete with consumer preferences, and slowing of market growth. Furthermore, increasing cases of contamination in canned seafood due to improper processing, resulting in increasing preference towards natural or minimally processed options. For instance, in February 2023, FDA announced a product recall for canned geisha medium shrimp due to swallowing, leaking and bursting of cans, possibility of under processed which is leading to potential for spoilage and pathogens.
Advanced Packaging Technology and Rising Demand for Omega-3 Fatty Acid Fuels the Market Growth
Increasing awareness of the protein dense nutrients, omega-3 fatty acid content, protein, and vitamins, of canned seafood products, led to demand for canned seafood as a convenient and nutritious food option, resulting in launch of varieties of ready-to-eat seafood products by market players. For instance, in July 2023, Wild planet announced to launch ready-to-eat canned seafood Including wild smoked pink salmon in extra virgin olive oil and wild smoked mackerel fillets in extra virgin olive oil and canned skipjack solid white light tuna and a three-pack of wild pink salmon, an ideal ready-to-eat meal wild tuna quinoa salad, sourced ethically from small fishers, causing less environmental impact.
Furthermore, with lucrative advancement in packaging technology, keeping products safe and fresh and rising purchasing power of consumers as canned fish are more affordable compared to fresh fish or other protein sources, making it a cost-effective choice for many households, for this reason many market players are launching new lines of canned seafoods. For instance, in January 2024, king Oscar announced to launch new line of skinless and boneless Atlantic salmon in extra virgin oil tinned containers.
Furthermore, with lucrative advancement in packaging technology, keeping products safe and fresh and rising purchasing power of consumers as canned fish are more affordable compared to fresh fish or other protein sources, making it a cost-effective choice for many households, for this reason many market players are launching new lines of canned seafoods. For instance, in January 2024, king Oscar announced to launch new line of skinless and boneless Atlantic salmon in extra virgin oil tinned containers.
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Rising Benefits Awareness of Seafood Drives the Market Growth
U.S. is one of the largest markets for canned food, driven by growing health conscious population and rising demand for premium and organic canned seafood product options. Due to this many market players are launching high quality products using sustainable practice with developed fishery industry, is expanding market distribution channel and growth of market.
However, European regions countries such as Germany, France, and the UK have well-established canned food markets, due to increasing preference for high-quality canned seafood, and rising awareness about the health benefits of seafood, including omega-3 fatty acids, is driving market demand. Additionally, Asia-pacific seafood market is expanding, due to increasing urbanization and disposable income, and growing interest in consumption of premium and imported canned seafood, soups, and prepared meals, with an emphasis on quality and convenience, key players are significantly innovative products.
However, European regions countries such as Germany, France, and the UK have well-established canned food markets, due to increasing preference for high-quality canned seafood, and rising awareness about the health benefits of seafood, including omega-3 fatty acids, is driving market demand. Additionally, Asia-pacific seafood market is expanding, due to increasing urbanization and disposable income, and growing interest in consumption of premium and imported canned seafood, soups, and prepared meals, with an emphasis on quality and convenience, key players are significantly innovative products.
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The report provides a detailed overview of the canned seafood market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for canned seafood market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the canned seafood market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the canned seafood market. Some key country and region included in the canned seafood market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Central America Countries, Caribbean Countries, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Singapore, Malaysia, Philippines, Vietnam, Thailand, Bangladesh, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Ethiopia, Algeria, Israel, Iran, Iraq, Kenya, Rest of MEA |
Canned Seafood Market Research Report Covers In-depth Analysis on:
- Canned seafood market detailed segments and segment-wise market breakdown
- Canned seafood market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in canned seafood industry)
- Current, historical and forthcoming 10 years market valuation in terms of canned seafood market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Canned seafood market demand analysis
- Canned seafood market pricing analysis over forecast period (by key segment and by region)
- Canned seafood market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in canned seafood market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in canned seafood market
- Canned seafood market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on canned seafood market forecast by countries
- Mergers and acquisitions in canned seafood market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What factors are driving the growth of the canned seafood market?
The growth of the canned seafood market is primarily driven by increasing consumer demand for convenient food options, rising health awareness and the popularity of seafood as a source of protein.
How has consumer behavior influenced the canned seafood market?
Consumer behavior has shifted towards healthier eating habits, leading to an increased preference for canned seafood, which is often perceived as nutritious, convenient, and long-lasting.
What are the challenges faced by the canned seafood industry?
The canned seafood industry faces challenges such as fluctuating raw material prices, strict regulatory compliance and competition from fresh seafood and other protein sources.
