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Canned Seafood Market Overview
Canned Seafood Market size is forecast to reach $102 billion by 2025, growing at a CAGR of 12.44% during the forecast period 2020-2025. Increasing popularity for ready to eat products, increasing affordability, and increasing product consumption are the major factors driving the growth of the market. Increasing adoption of sustainable fish farming technique is set to further enhance the overall market demand for Canned Seafood Market during the forecast period 2020-2025.
Report Coverage
The report: “Canned Seafood Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Canned Seafood Market.
By Product: Tuna, Salmon, Sardines, Prawns, Shrimps, and Others.
By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Online Retail Stores, and Others.
By Geography: North America, Europe, Asia Pacific and Rest of the World (RoW).
Key Takeaways
- The Asia Pacific dominates the Canned Seafood Market owing to the high demand for ready to eat seafood products and a rise in demand for high shelf life seafood products. The Canned Seafood Market scope for different regions will be provided in the final report.
- Rising awareness about health benefits offered by canned seafood is likely to aid in the market growth of the Canned Seafood Market.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Canned Seafood Market report.
- Lower-income levels of population in developing economies are unable to afford the product and seasonal availability of product are set to create hurdles for the Canned Seafood Market.
Product- Segment Analysis
The Tuna segment held the largest share in the Canned Seafood Market in 2019 and is estimated to grow at a CAGR of 8.7% during the forecast period 2020-2025 owing to its superior properties including a rich source of lean proteins. Tuna contains omega 3 fatty acid that results in the improvement of personal health. It improves the immune system, reduces blood pressure, reduces depression, weight reduction, and cancer prevention. Salmon is rich in omega 3 fatty acids, which has been linked to a reduced risk of heart disease, stroke, macular degeneration (eyes), and even dementia. Shrimp has high nutritional value and has benefits such as low-fat content coupled with a high concentration of easily digestible protein. Increasing health benefits, such as proteins, minerals, and fatty acids offered by consuming salmon is likely to generate promising opportunities for key players operating in the canned seafood market. The Tuna is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025 owing to its property to result in cardiovascular disease.
Distribution Channel - Segment Analysis
The Supermarkets/Hypermarkets held the largest share in the Canned Seafood Market in 2019 and is estimated to grow at a CAGR of 10.2% during the forecast period 2020-2025 owing to the rapidly growing market for packaged and processed fish and seafood. Consumers are seeking minimally processed foods that are free from synthetic preservatives and obnoxious residues of fertilizers and antibiotics. Canned foods are thus, the best alternatives for satisfying the criteria. There is an increased demand for canned seafood products among health-conscious consumers, particularly athletes. Online shopping offers extra convenience and the buying experience is greatly enhanced. the governments worldwide are encouraging sustainable production and processing of seafood, in order to empower the coastal community and improve their livelihoods. These initiatives are also boosting the growth of the canned seafood market. The marine economy also developed in recent years, with different nations coming together on a common platform to sustainably develop the fisheries sector. Supermarkets/Hypermarkets are set to be the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025.
Geography - Segment Analysis
Asia Pacific dominated the Canned Seafood Market in 2019 with a share of more than 39%, followed by the Asia Pacific owing to high adoption by consumers, high demand for ready to eat seafood products and increasing disposable income. Increasing demand for sustainably sourced seafood owing to their numerous health benefits is increasing the growth of the canned seafood market.
However, North America is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the growing awareness about the advantages of canned seafood such as high durability. Increasing demand for ready-to-eat meals and seafood coupled with increasing preference for seafood products among individuals is increasing the growth of the canned seafood market in this region.
Drivers – Canned Seafood Market
- Rising Awareness about health benefits offered by canned seafood products:
Rising awareness about health benefits offered by canned seafood products is increasing the growth of the canned seafood market. Canned seafood has a high level of valuable omega 3 fatty acids which are important for overall health and wellbeing. Omega-3 fatty acids improve blood vessel function, lower blood pressure, and reduce the risk of cardiovascular disease. In addition to this, the demand for conspicuous and exotic food items is on the rise as a result of the rising purchase power of consumers. Spurred by this, the canned seafood market is poised to welcome impressive growth opportunities. Changing consumer preference, as they increasingly focus on healthier and tastier food is increasing the demand for canned seafood products. Thus, increasing the growth of the canned seafood market during the forecast period 2020-2025.
- Increasing popularity for ready to eat products
Increasing popularity for ready to eat products is increasing the growth of the canned seafood market. Ready-to-eat food products are being considered as the closest alternative to regular food, which can be consumed at any time. The initiatives taken by regulatory authorities to create awareness regarding canned seafood products are driving market growth. Changing food consumption behaviour among consumers, increased willingness to spend on such food and the lack of time to cook at home are a result of rapid urbanization. Urbanization also helps in increasing disposable income, which increases the food expenditure of the final consumer. Thus, increasing the growth of the canned seafood market during the forecast period 2020-2025.
Challenges – Canned Seafood Market
- Lower income levels of population in developing economies are unable to afford the product and seasonal availability of product
Some of the factors that is set to impede the growth of the Canned Seafood Market are lower income levels of the population in developing economies are unable to afford the product and seasonal availability of the product. High usage of preservatives in some canned foods, can cause health issues in individuals if consumed in high quantities is set to hinder the growth of canned seafood market.
Canned Seafood Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Canned Seafood Market. In 2019, the Canned Seafood Market share is consolidated by the top ten players present in the market. Canned Seafood, the top 10 companies are Bumble Bee Seafoods, Wild Planet Foods, Connors Bros Ltd., Trading Seafood, Marine Harvest, Thai Union Group, Starkist Co., Icicle Seafoods Inc., Maruha Nichiro Corporation, and Monster Group among others.
Acquisitions/Product Launches
- In February 2020, Bumble Bee Seafoods was acquired by Taiwanese company for $928 million.
1. Canned Seafood Market - Overview
1.1 Definitions and Scope
2. Canned Seafood Market - Executive Summary
2.1 Market Revenue and Key Trends by Company
2.2 Key trends by Product
2.3 Key trends by Distribution Channel
2.4 Key trends by Geography
3. Canned Seafood Market – Comparative Analysis
3.1 Product Benchmarking – Key Companies
3.2 Financial Analysis – Key Companies
3.3 Market Value Split by Key Companies
3.4 Patent Analysis – Key Companies
3.5 Pricing Analysis
4. Canned Seafood Market - Startup Companies Scenario Premium
4.1 Key Startup Company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Venture Capital and Funding Scenario
5. Canned Seafood Market – Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case Studies of Successful Ventures
6. Canned Seafood Market Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Canned Seafood Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. Canned Seafood Market – By Product
8.1 Tuna
8.2 Salmon
8.3 Sardines
8.4 Prawns
8.5 Shrimps
8.6 Others
9. Canned Seafood Market – By Distribution Channels
9.1 Supermarkets/Hypermarkets
9.2 Convenience Stores
9.3 Online Retail Stores
9.4 Others
10. Canned Seafood Market - By Geography
10.1 North America
10.1.1 U.S.
10.1.2 Mexico
10.1.3 Canada
10.2 Europe
10.2.1 U.K.
10.2.2 France
10.2.3 Germany
10.2.4 Italy
10.2.5 Spain
10.2.6 Rest of Europe
10.3 Asia Pacific
10.3.1 China
10.3.2 India
10.3.3 Japan
10.3.4 South Korea
10.3.5 Australia
10.3.6 New Zealand
10.3.7 Rest of APAC
10.4 Rest of the World
10.4.1 Middle East
10.4.2 Africa
10.4.3 South America
11. Canned Seafood Market - Entropy
12. Canned Seafood Market – Industry/Segment Competition Landscape Premium
12.1 Market Share Analysis
12.1.1 Global Market Share – Key Companies
12.1.2 Market Share by Region – Key companies
12.1.3 Market Share by Countries – Key Companies
12.1.4 Best Practices for Companies
13. Canned Seafood Market – Key Company List by Country Premium Premium
14. Canned Seafood Market Company Analysis
14.1 Company 1
14.2 Company 2
14.3 Company 3
14.4 Company 4
14.5 Company 5
14.6 Company 6
14.7 Company 7
14.8 Company 8
14.9 Company 9
14.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.
LIST OF TABLES
1.Global Canned Seafood Market:Product Estimate Trend Analysis Market 2019-2024 ($M)1.1 Tuna Market 2019-2024 ($M) - Global Industry Research
1.2 Salmon Market 2019-2024 ($M) - Global Industry Research
1.3 Sardine Market 2019-2024 ($M) - Global Industry Research
1.5 Prawn Market 2019-2024 ($M) - Global Industry Research
1.6 Shrimp Market 2019-2024 ($M) - Global Industry Research
2.Global Canned Seafood Market:Product Estimate Trend Analysis Market 2019-2024 (Volume/Units)
2.1 Tuna Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Salmon Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 Sardine Market 2019-2024 (Volume/Units) - Global Industry Research
2.5 Prawn Market 2019-2024 (Volume/Units) - Global Industry Research
2.6 Shrimp Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Canned Seafood Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
3.1 Tuna Market 2019-2024 ($M) - Regional Industry Research
3.2 Salmon Market 2019-2024 ($M) - Regional Industry Research
3.3 Sardine Market 2019-2024 ($M) - Regional Industry Research
3.5 Prawn Market 2019-2024 ($M) - Regional Industry Research
3.6 Shrimp Market 2019-2024 ($M) - Regional Industry Research
4.South America Canned Seafood Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
4.1 Tuna Market 2019-2024 ($M) - Regional Industry Research
4.2 Salmon Market 2019-2024 ($M) - Regional Industry Research
4.3 Sardine Market 2019-2024 ($M) - Regional Industry Research
4.5 Prawn Market 2019-2024 ($M) - Regional Industry Research
4.6 Shrimp Market 2019-2024 ($M) - Regional Industry Research
5.Europe Canned Seafood Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
5.1 Tuna Market 2019-2024 ($M) - Regional Industry Research
5.2 Salmon Market 2019-2024 ($M) - Regional Industry Research
5.3 Sardine Market 2019-2024 ($M) - Regional Industry Research
5.5 Prawn Market 2019-2024 ($M) - Regional Industry Research
5.6 Shrimp Market 2019-2024 ($M) - Regional Industry Research
6.APAC Canned Seafood Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
6.1 Tuna Market 2019-2024 ($M) - Regional Industry Research
6.2 Salmon Market 2019-2024 ($M) - Regional Industry Research
6.3 Sardine Market 2019-2024 ($M) - Regional Industry Research
6.5 Prawn Market 2019-2024 ($M) - Regional Industry Research
6.6 Shrimp Market 2019-2024 ($M) - Regional Industry Research
7.MENA Canned Seafood Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
7.1 Tuna Market 2019-2024 ($M) - Regional Industry Research
7.2 Salmon Market 2019-2024 ($M) - Regional Industry Research
7.3 Sardine Market 2019-2024 ($M) - Regional Industry Research
7.5 Prawn Market 2019-2024 ($M) - Regional Industry Research
7.6 Shrimp Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Canned Seafood Market Revenue, 2019-2024 ($M)2.Canada Canned Seafood Market Revenue, 2019-2024 ($M)
3.Mexico Canned Seafood Market Revenue, 2019-2024 ($M)
4.Brazil Canned Seafood Market Revenue, 2019-2024 ($M)
5.Argentina Canned Seafood Market Revenue, 2019-2024 ($M)
6.Peru Canned Seafood Market Revenue, 2019-2024 ($M)
7.Colombia Canned Seafood Market Revenue, 2019-2024 ($M)
8.Chile Canned Seafood Market Revenue, 2019-2024 ($M)
9.Rest of South America Canned Seafood Market Revenue, 2019-2024 ($M)
10.UK Canned Seafood Market Revenue, 2019-2024 ($M)
11.Germany Canned Seafood Market Revenue, 2019-2024 ($M)
12.France Canned Seafood Market Revenue, 2019-2024 ($M)
13.Italy Canned Seafood Market Revenue, 2019-2024 ($M)
14.Spain Canned Seafood Market Revenue, 2019-2024 ($M)
15.Rest of Europe Canned Seafood Market Revenue, 2019-2024 ($M)
16.China Canned Seafood Market Revenue, 2019-2024 ($M)
17.India Canned Seafood Market Revenue, 2019-2024 ($M)
18.Japan Canned Seafood Market Revenue, 2019-2024 ($M)
19.South Korea Canned Seafood Market Revenue, 2019-2024 ($M)
20.South Africa Canned Seafood Market Revenue, 2019-2024 ($M)
21.North America Canned Seafood By Application
22.South America Canned Seafood By Application
23.Europe Canned Seafood By Application
24.APAC Canned Seafood By Application
25.MENA Canned Seafood By Application
26.Bumble Bee Seafood, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Starkist Co, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Nippon Suisan Kaisha, Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Maruha Nichiro Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Icicle Seafood Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Ldh Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Wild Planet Food, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Thai Union Frozen Product, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.American Tuna, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Universal Canning, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Tri Marine Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Trident Seafood Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Connors Bros Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)