Canned Croaker Market by Product Type (Croaker Fillets, Whole Croaker), Distribution Channel (Convenience Stores, Online Retailers, Specialty Stores) - Global Forecast 2024-2030

Canned Croaker Market by Product Type (Croaker Fillets, Whole Croaker), Distribution Channel (Convenience Stores, Online Retailers, Specialty Stores) - Global Forecast 2024-2030

The Canned Croaker Market size was estimated at USD 1.16 billion in 2023 and expected to reach USD 1.21 billion in 2024, at a CAGR 5.23% to reach USD 1.66 billion by 2030.

Canned croaker refers to the preservation of croaker fish by canning, a method that extends the shelf life of the fish while maintaining its nutritional value. This has become increasingly popular as it offers a convenient and quick option for incorporating fish into diets, which is particularly valuable in fast-paced lifestyle settings. Major factors promoting the use of canned croaker include its convenience, extended shelf life, and ease of preparation, making it a favorable choice for those who may not have the time for fresh fish preparation. Additionally, canning retains most of the nutrients found in fresh croaker, making it a healthy diet option. However, the canning process may lead to a loss of some flavor compared to fresh fish, and concerns about the additives used in canning, such as salts and preservatives, may affect consumer perception and health when consumed in large quantities. Nevertheless, rising seafood consumption and expanding product lines to include a variety of flavors and preparations that cater to regional tastes present a growth avenue for market expansion. Furthermore, the increasing consumer focus on sustainable and ethical sourcing of food products may prompt companies to invest in transparent and environmentally friendly sourcing and manufacturing processes, potentially giving rise to organic or sustainably certified canned croaker products.

Regional Insights

In the Americas, canned seafood, including canned croaker, is gradually gaining traction due to the increasing emphasis on protein-rich diets and ready-to-eat food products. The U.S. shows strong demand for this segment, driven by consumer preferences for convenience & longer shelf-life food products. Marketing strategies focusing on sustainable fishing and eco-friendly packaging are key trends observed in this region. European consumers generally display high awareness regarding the source and sustainability of their seafood. Countries, including Spain and Portugal, have a strong tradition of consuming seafood, including canned products. The market is regulated by strict EU regulations regarding food safety and sustainability, affecting supply chains. Conversely, the Asia Pacific region shows a robust demand for canned croakers due to its vast population and strong culinary traditions. Countries including China, Japan, & South Korea are major consumers, driven by cultural preferences and the established habit of consuming seafood. The key drivers in the Asia Pacific market include the high availability of croakers, advancements in fishing and canning technologies, and the increasing export activities to cater to global demand. There is also a considerable emphasis on incorporating traditional flavors and seasonings, catering to local taste preferences.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Canned Croaker Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increasing consumer awareness regarding the health benefits of fish consumption
• Consumer demand for convenience food

Market Restraints

• Transfer of hazardous metals from cans into the food

Market Opportunities

• Improvements in canning croaker technology
• Growing popularity of global cuisines encourages use of diverse seafood

Market Challenges

• Overfishing and environmental impact of fishing practices

Market Segmentation Analysis

• Product Type: Preferences for croaker fillets for their mild flavor and moderately firm texture
• Distribution Channel: Expansion of online retailers owing to the convenience of home delivery and wider selection of products

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Canned Croaker Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Canned Croaker Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Saudi Arabia’s Strategic Expansion into Aquaculture through International Joint Venture

The Saudi Arabian aquaculture sector is poised for expansion through a strategic partnership between NEOM and Tabuk Fisheries Company, forming Topian Aquaculture. Slated to operate the largest incubator in the MENA region by late 2024, this venture plans a capacity of 42 million fingerlings annually. It aims for a marine pen production output of 20,000 tonnes per year. Topian will focus on cultivating three warm-water species, including sea bream, Asian sea bass, and croaker, enhancing regional fish supply and supporting sustainable aquatic farming practices.

1.8 Meters Marine Technology Launches Sustainable Seafood Sales on Alibaba, Featuring Traceable Frozen Yellow Croaker

1.8 Meters Marine Technology (Zhejiang) Co, a fishery and agriculture firm, has commenced the sale of its seafood products on major Alibaba platforms. The initiative marks a significant push towards leveraging cutting-edge technology and environmentally sustainable methods in aquaculture. The company aims to cater to a growing consumer demand for fresh, traceable, and responsibly farmed seafood, including frozen yellow croaker fish.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Canned Croaker Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Canned Croaker Market, highlighting leading vendors and their innovative profiles. These include Bumble Bee Foods, Chicken of the Sea International, Crown Prince, Dalian Leasun Food Co., Ltd., Fishwife Tinned Seafood Co., Jose Gourmet, Lazada, Natural Sea, Roland Foods, LLC, Starkist, Sun Asian Market, The Canned Company, Tri Marine International, Wild Planet, and Xiamen Amoytop import & export co., ltd..

Market Segmentation & Coverage

This research report categorizes the Canned Croaker Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Product Type
• Croaker Fillets
• Whole Croaker
• Distribution Channel
• Convenience Stores
• Online Retailers
• Specialty Stores
• Supermarkets & Hypermarkets

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year