Global Canned Seafood Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product (Tuna, Salmon, Sardines, Prawns, and Shrimps), Distribution Channel (Supermarket/Hypermarket, Convenience Store, Specialty Store, and Online Retail), End User

Global Canned Seafood Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product (Tuna, Salmon, Sardines, Prawns, and Shrimps), Distribution Channel (Supermarket/Hypermarket, Convenience Store, Specialty Store, and Online Retail), End User (Household and Commercial), and Region (North America, Europe, Asia Pacific, Latin America Middle East and Africa)

Market Overview:

Canned seafood also called tinned seafood is processed food products, sealed in an airtight jar like a tin can, and subjected to heating. A normal shelf life of one to five years is provided by the food preservation technique of canning. According to Ken Research Analysis, the Global Canned Seafood Market is expected to record a positive CAGR of ~8% during the forecast period (2022-2028) and is expected to reach approximately US$ 50 billion by 2028. Driven by rising health awareness among people, increasing demand for processed and convenient, and advancements in manufacturing technology, canned seafood is being increasingly adopted among both households and commercial end users.

Rising health consciousness along with the rising popularity of ready-to-eat seafood items are positively impacting the market

Consumer demand for secure, nutrient-balanced, and convenient food products has grown during the past few years. These changes are causing the demand for fishery products to rise, which has an impact on global fisheries resources and jeopardizes the stocks of many fish species. Byproducts of fish businesses or fish species with low commercial value that are technologically improved and turned into goods with great nutritional potential would simultaneously help to meet current consumer preferences and promote more sustainable management of marine resources. This is in turn boosting the Canned Seafood Market.

Poor cold chain management and the use of toxic metals for tins, limit the market growth

The core of the frozen and processed fish sector is cold chain management, which calls for industry-specific experience, technical know-how, and financial commitment. Ready-to-eat (RTE) fish products are only available in contemporary retail outlet chains and cannot reach mass retail outlets due to cold-chain management restrictions. Furthermore, because RTE fish is a relatively new product in most regions, there is little consumer awareness of it as a result, retail prices are still high. This is negatively impacting the Canned Seafood Market.

During the COVID-19 pandemic, demand for canned fish soared, especially due to the rising trend of in-house cooking. Canned food was favored by consumers who chose to work from home or stay at home since it is quick and simple to prepare. Additionally, because restaurants curtailed service to prevent an increase in coronavirus infections, more people cooked at home and consumed more canned seafood.

Scope of the Report

The Canned Seafood Market is segmented by product, end-user, and distribution channel. In addition, the report also covers market size and forecasts for the four major regions’ Canned Seafood Market. The revenue used to size and forecast the market for each segment is US$ billion.

By Product

Tuna
Salmon
Sardines
Prawns
Shrimps
Other Seafood

By Distribution Channel

Supermarket/Hypermarket
Convenience Store
Specialty Store
Online Retail

By End-user

Household
Commercial

By Geography

North America (USA, Canada, and Mexico)
Europe (Germany, UK, France, Spain, and Italy)
Asia Pacific (China, Japan, South Korea, India, Indonesia, and Australia)
LAMEA (Latin America, Middle East, and Africa)

Key Players

Bumble Bee Seafood Company
Nippon Suisan Kaisha, Ltd
The Thai Union Group
Maruha Nichiro Corporation
Wild Planet Foods
Trident Seafoods Corporation
Rosa Food Products Co., Inc.
Connors Bros
Clover Leaf Seafoods Corp.
StarKist Co.
Mowi ASA

Key Trends

by Market Segment

By Product: The tuna product segment held the largest market share in the Global Canned Seafood Market in 2021.

Tuna being a good source of lean proteins is being increasingly demanded in various parts of the world. Omega-3 fatty acids found in fish, help to boost one's health. It strengthens the immune system, lowers blood pressure, eases depression, helps people lose weight, and prevents cancer.

By Distribution Channel:

The supermarket/hypermarket distribution channel segment held the largest share of the Global Canned Seafood Market in 2021.

Due to the availability of a broad variety of products and the convenience of making purchases through these types of sales channels, the segment of supermarkets and hypermarkets is anticipated to grow strongly. In these establishments, specific aisles are designated for various products, giving customers a wide range of choices. These mass merchandisers' new discounts and promotions are also anticipated to improve their sales results.

A growing industry, online retail is anticipated to develop significantly over the next few years due to convenient payment methods and home delivery choices.

By End User:

The household end-user segment held the largest share of the Global Canned Seafood Market in 2021.

The increased consumption of seafood by the household population owing to its high health benefits as well as the convenience of consumption due to its ready-to-eat factor is anticipated to propel the market growth. The survey conducted by the Associated Chamber of Commerce and Industry of India (Assocham) revealed that about 79% of households prefer instant food due to a steep increase in incomes and changing standards of living and convenience. This has benefited the Global Canned Seafood Market.

By Geography:

Asia Pacific accounted for the largest market share in 2021 within the total Global Canned Seafood Market.

Given the abundance of raw materials and canneries in the Asia Pacific region that is used for aquaculture, it is expected that the acceptance of canned seafood products would rise in the region. According to the Marine Products Export Development Authority (MPEDA), India exported 12.8 lakh MT of seafood worth US$ 6.68 billion in 2019 and is projected to increase by 12.6% by the end of 2032.

The demand for ready-to-cook canned fish in emerging nations is also expected to fuel the market in the Asia Pacific region. Some of the biggest brands of canned seafood are operating in the region, which helps the local market grow even more.

Competitive Landscape

The Global Canned Seafood Market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players.

Regional players constitute 40% while country-niche players stand at 55% of the total competitors. Some of the major players in the market include Bumble Bee Seafood Company, Nippon Suisan Kaisha, Ltd, The Thai Union Group, Maruha Nichiro Corporation, Wild Planet Foods, Trident Seafoods Corporation, Rosa Food Products Co., Inc., Connors Bros, Clover Leaf Seafoods Corp., StarKist Co., Mowi ASA, and others.

Recent Developments Related to Major and Emerging Companies

In June 2020, The Bumble Bee Seafood Company disclosed a US$ 40 million commitment over the following five years for initiatives that will restore and safeguard the well-being of the oceans throughout the world while also minimizing the usage of plastics. The business established a special Accelerator Fund.
In May 2021, Union Group acquired a German producer of shelf-stable seafood products named Rügen Fisch. With its headquarters in Sassnitz, Rügen Fisch distributes ambient and chilled fish products to merchants all over Germany under the Rügen Fisch, Ostsee Fisch, Hawesta, and Lysell brands. The company also runs a manufacturing operation for private labels.
In March 2021, Nippon Suisan Kaisha Ltd. (Nissui)’s subsidiary, Nippon Suisan B.V. acquired 75% of Three Oceans Fish Company Limited, a U.K. seafood company. Nissui will boost its coated fish business in the UK in partnership with Caistor Seafoods with this acquisition, and it will improve synergies with Flatfish and Cite Marine.

Conclusion

The Global Canned Seafood Market is forecasted to continue a gradual growth during the forecast period. Key trends driving market expansion include rising health awareness among people, increasing demand for processed and convenience, and advancements in manufacturing technology. The market is highly competitive with ~300 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.

Note:

This is an Planned/On-Demand report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Key Topics Covered in the Report

Snapshot of the Global Canned Seafood Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Canned Seafood Market
Historic Growth of the Overall Global Canned Seafood Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Canned Seafood Market
Overview, Product Offerings, and SWOT Analysis of Key Competitors
COVID-19 Impact on the Overall Global Canned Seafood Market
Future Market Forecast and Growth Rates of the Total Global Canned Seafood Market and by Segments
Market Size of Product/End User Segments with Historical CAGR and Future Forecasts
Analysis of the Canned Seafood Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Country

Major Players Mentioned in the report

Bumble Bee Seafood Company
Nippon Suisan Kaisha, Ltd
The Thai Union Group
Maruha Nichiro Corporation
Wild Planet Foods
Trident Seafoods Corporation
Rosa Food Products Co., Inc.
Connors Bros
Clover Leaf Seafoods Corp.
StarKist Co.
Mowi ASA

Notable Emerging Companies Mentioned in the Report

Atlantic Natural Foods
Karavela
Peter Pan Seafoods
Simco Foods
Anklam Extrakt GmbH
Frinsa Group

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

Company Research and Development Institutes
Market Research & Consulting Firms
Banking and Financial Service Providers
Government & Regulatory Authorities
Raw Material Suppliers
Investors in Food Start-ups
Start-ups & Incumbents in Food Sector
Certification & Inspection Companies
F&B Marketing Agencies
Frozen Food Manufacturers
Ready-to-Eat Food Packaging Manufacturers
Tin Food Manufacturers
Seafood Exporters
Canned Meat Manufacturers
Dietician Nutritionists
Aqua/Fish Nutrition Biochemist
Private Food Organizations

Time Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F
Frequently Asked Questions

What is the Study Period of this Market Report?

The Global Canned Seafood Market is covered from 2017-2028 in this report, which includes a forecast for the period 2022E-2028F.

What is the Future Growth Rate of the Global Canned Seafood Market?

The Global Canned Seafood Market is expected to witness a CAGR of about ~8% over the next six years.

What are the Key Factors Driving the Global Canned Seafood Market?

Rising health awareness among people, increasing demand for processed and convenience, and advancements in manufacturing technology are expected to be key drivers of this market.

Which is the Largest Product Segment within the Global Canned Seafood Market?

The tuna product segment held the largest share of the Global Canned Seafood Market in 2021.

Who are the Key Players in Global Canned Seafood Market?

Bumble Bee Seafood Company, Nippon Suisan Kaisha, Ltd, The Thai Union Group, Maruha Nichiro Corporation, Wild Planet Foods, Trident Seafoods Corporation, Rosa Food Products Co., Inc., Connors Bros, Clover Leaf Seafoods Corp., StarKist Co., Mowi ASA, among others are the major companies operating in Global Canned Seafood Market.

Key Topics Covered in the Report

Snapshot of the Global Canned Seafood Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Canned Seafood Market
Historic Growth of the Overall Global Canned Seafood Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Canned Seafood Market
Overview, Product Offerings, and SWOT Analysis of Key Competitors
COVID-19 Impact on the Overall Global Canned Seafood Market
Future Market Forecast and Growth Rates of the Total Global Canned Seafood Market and by Segments
Market Size of Product/End User Segments with Historical CAGR and Future Forecasts
Analysis of the Canned Seafood Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Country

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