Canned Seafood Market
Canned Seafood Market Forecasts to 2030 - Global Analysis By Product Type (Canned Fish, Canned Shrimp, Canned Prawns and Other Product Types), Distribution Channel and By Geography
According to Stratistics MRC, the Global Canned Seafood Market is accounted for $52.7 billion in 2023 and is expected to reach $89.2 billion by 2030 growing at a CAGR of 7.8% during the forecast period. Canned seafood refers to various marine products preserved in sealed containers through processes like canning, ensuring extended shelf life. Common examples include tuna, salmon, sardines, and anchovies. Typically cooked or smoked before canning, these items retain their nutritional value and flavor for both domestic consumption and commercial use in restaurants and food service establishments.
According to the Marine Products Export Development Authority (MPEDA), India shipped 12.8 lakh metric tons of seafood worth USD 6.68 billion in the year 2019 and is expected to rise by 12.6% by the end of 2032.
Market Dynamics:
Driver:
Nutritional benefits
Canned seafood serves as a rich source of essential nutrients, including high-quality protein, omega-3 fatty acids, vitamins, and minerals. These nutrients play crucial roles in supporting overall health, including cardiovascular function, brain health, and immune system function. Furthermore, canned seafood provides a convenient solution for individuals looking to meet their dietary requirements without the need for extensive meal preparation or cooking, which is propelling this market expansion.
Restraint:
High cost
The expenses associated with sourcing high-quality seafood, processing it, and packaging it can be substantial for producers. Factors such as fluctuations in seafood prices, labor costs, energy expenses for processing facilities, and compliance contribute to the overall production costs. In addition, this pricing discrepancy can deter price-sensitive consumers from purchasing canned seafood regularly, impacting market demand.
Opportunity:
Innovations in packaging and product offerings
Manufacturers continually invest in research and development to introduce new packaging materials, formats, and product formulations that enhance convenience, freshness, and appeal to consumers. One notable innovation in packaging is the introduction of eco-friendly materials such as recyclable or biodegradable cans and pouches, reducing environmental impact. Moreover, these innovations not only drive consumer interest and demand but also contribute to the overall growth and competitiveness of the canned seafood market.
Threat:
Environmental impact
The manufacturing and packaging processes associated with canned seafood production can generate waste and contribute to pollution if not managed responsibly. This includes energy consumption, greenhouse gas emissions, and the disposal of packaging materials, which can have negative consequences for ecosystems and contribute to climate change. Furthermore, certain fishing methods, such as trawling, can cause habitat destruction and harm non-target species, further exacerbating environmental concerns and hampering this market size.
Covid-19 Impact
The COVID-19 pandemic has had several negative effects on the canned seafood market, impacting both supply and demand dynamics. One significant challenge faced by the canned seafood industry during the pandemic was disruptions in supply chains. Additionally, outbreaks among seafood processing workers further exacerbated supply chain disruptions, causing temporary closures of facilities and reducing production capacities. Consequently, it hampered market growth.
The canned shrimp segment is expected to be the largest during the forecast period
The canned shrimp segment is estimated to hold the largest share due to diverse consumer demands, offering various shrimp species, sizes, and preparations, including peeled, deveined, cooked, or flavored options. The popularity of canned shrimp stems from its convenience, versatility, and nutritional value. Additionally, canned shrimp serves as a convenient protein source for households, restaurants, and catering services, eliminating the need for extensive preparation or cooking time, which is propelling this segment’s expansion.
The specialty stores segment is expected to have the highest CAGR during the forecast period
The specialty stores segment is anticipated to have highest CAGR during the forecast period due to its distinctive role in catering to niche consumer preferences and premium offerings. These stores often emphasize unique varieties, artisanal preparations, and gourmet options that may not be readily available in mainstream supermarkets. Moreover, the rise of online platforms and e-commerce has expanded the reach of specialty stores, significantly driving this segment.
Region with largest share:
North America commanded the largest market share during the extrapolated period, and owing to a growing consumer preference for convenient yet nutritious food options, canned seafood has witnessed notable traction across the continent. This region is home to some of the major players, such as Okam, Jim Pattison Group Inc., Thai Union Group, and Dongwon Group. Furthermore, North American consumers increasingly prioritize products sourced from well-managed fisheries and aquaculture operations, boosting this region’s growth.
Region with highest CAGR:
Europe is expected to witness highest CAGR over the projection period, owing to a convenient and reliable source of protein. With the continent's extensive coastline and maritime heritage, Europeans have a strong affinity for seafood, making canned seafood products a staple in their diets. Moreover, manufacturers and suppliers prioritize responsible sourcing practices, traceability, and eco-friendly packaging, aligning with consumer values and regulatory requirements and gradually fostering this region’s expansion.
Key players in the market
Some of the key players in the Canned Seafood Market include Thai Union Group, Bolton Group, Century Pacific Food Inc., Dhofar Fisheries and Food Co. SAOG, Carvalho Fisheries, Americana Group Inc., Okam, Dongwon Group, Maldives Industrial Fisheries Company Limited, Jim Pattison Group Inc, Trident Seafoods Corporation and FCF Co. Ltd.
Key Developments:
In February 2024, Jim Pattison Lease is pleased to announce the acquisition of Jamieson Car and Truck Rental headquartered in Kitchener, Ontario, which has been providing vehicle rental and leasing services to customers since 1987.
In February 2024, Bolton is pleased to announce our first CDP score, earning a commendable B rating. This achievement is noteworthy, surpassing both the global average and our industry benchmark.
In June 2023, Pattison Sign Group (PSG) announced it has acquired Chandler Signs, a national, vertically-integrated provider of sign design, manufacturing, installation, and maintenance for multi-site companies.
Product Types Covered:
• Canned Fish
• Canned Shrimp
• Canned Prawns
• Other Product Types
Distribution Channels Covered:
• Specialty Stores
• Supermarkets/Hypermarkets
• Online Retail
• Convenience Stores
• Other Distribution Channels
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Canned Seafood Market, By Product Type
5.1 Introduction
5.2 Canned Fish
5.2.1 Tuna
5.2.2 Salmon
5.2.3 Sardines
5.2.4 Mackerel
5.3 Canned Shrimp
5.4 Canned Prawns
5.5 Other Product Types
6 Global Canned Seafood Market, By Distribution Channel
6.1 Introduction
6.2 Specialty Stores
6.3 Supermarkets/Hypermarkets
6.4 Online Retail
6.5 Convenience Stores
6.6 Other Distribution Channels
7 Global Canned Seafood Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Thai Union Group
9.2 Bolton Group
9.3 Century Pacific Food Inc.
9.4 Dhofar Fisheries and Food Co. SAOG
9.5 Carvalho Fisheries
9.6 Americana Group Inc.
9.7 Okam
9.8 Dongwon Group
9.9 Maldives Industrial Fisheries Company Limited
9.10 Jim Pattison Group Inc
9.11 Trident Seafoods Corporation
9.12 FCF Co. Ltd
List of Tables
1 Global Canned Seafood Market Outlook, By Region (2021-2030) ($MN)
2 Global Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
4 Global Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
5 Global Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
6 Global Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
7 Global Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
8 Global Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
9 Global Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
10 Global Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
11 Global Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
12 Global Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
13 Global Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
14 Global Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
15 Global Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
16 Global Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
17 North America Canned Seafood Market Outlook, By Country (2021-2030) ($MN)
18 North America Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
19 North America Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
20 North America Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
21 North America Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
22 North America Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
23 North America Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
24 North America Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
25 North America Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
26 North America Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
27 North America Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
28 North America Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
29 North America Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
30 North America Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
31 North America Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
32 North America Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
33 Europe Canned Seafood Market Outlook, By Country (2021-2030) ($MN)
34 Europe Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
35 Europe Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
36 Europe Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
37 Europe Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
38 Europe Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
39 Europe Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
40 Europe Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
41 Europe Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
42 Europe Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
43 Europe Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
44 Europe Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
45 Europe Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
46 Europe Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
47 Europe Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
48 Europe Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
49 Asia Pacific Canned Seafood Market Outlook, By Country (2021-2030) ($MN)
50 Asia Pacific Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
51 Asia Pacific Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
52 Asia Pacific Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
53 Asia Pacific Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
54 Asia Pacific Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
55 Asia Pacific Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
56 Asia Pacific Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
57 Asia Pacific Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
58 Asia Pacific Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
59 Asia Pacific Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
60 Asia Pacific Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
61 Asia Pacific Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
62 Asia Pacific Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
63 Asia Pacific Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
64 Asia Pacific Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
65 South America Canned Seafood Market Outlook, By Country (2021-2030) ($MN)
66 South America Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
67 South America Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
68 South America Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
69 South America Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
70 South America Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
71 South America Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
72 South America Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
73 South America Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
74 South America Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
75 South America Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
76 South America Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
77 South America Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
78 South America Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
79 South America Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
80 South America Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
81 Middle East & Africa Canned Seafood Market Outlook, By Country (2021-2030) ($MN)
82 Middle East & Africa Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
83 Middle East & Africa Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
84 Middle East & Africa Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
85 Middle East & Africa Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
86 Middle East & Africa Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
87 Middle East & Africa Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
88 Middle East & Africa Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
89 Middle East & Africa Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
90 Middle East & Africa Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
91 Middle East & Africa Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
92 Middle East & Africa Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
93 Middle East & Africa Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
94 Middle East & Africa Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
95 Middle East & Africa Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
96 Middle East & Africa Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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