Canned Salmon Market by Fish Type, Type, Processing Type, Distribution Channel

List of Tables

[186 Pages Report] The Canned Salmon Market size was estimated at USD 3.86 billion in 2023 and expected to reach USD 4.06 billion in 2024, at a CAGR 5.15% to reach USD 5.49 billion by 2030.

Canned salmon is a product made by processing fresh salmon, which is then sealed in a can and subjected to heat to ensure preservation and sterility. This process prolongs the shelf life of the salmon, allowing it to be stored and consumed over an extended period. Canned salmon is commonly available in various forms, including whole fillets and pieces, and it may come in plain, salted, or seasoned varieties. It retains many of the nutritional benefits of fresh salmon, such as a high content of protein and omega-3 fatty acids, making it a healthy option for a range of dietary needs. Increased awareness about health benefits associated with omega-3 fatty acids, protein, and other nutrients in salmon drives the market. Unlike fresh salmon, canned salmon can be stored for long periods, reducing wastage and allowing for stockpiling. However, the cost of raw materials such as salmon is subject to fluctuations due to environmental and economic factors affecting supply. Furthermore, developing eco-friendly and more durable packaging solutions can attract environmentally conscious consumers and reduce carbon footprints. Enhancing the canning process to better preserve the natural nutrients of salmon could address the quality concerns of health-conscious buyers.

KEY MARKET STATISTICS
Base Year [2023]	USD 3.86 billion
Estimated Year [2024]	USD 4.06 billion
Forecast Year [2030]	USD 5.49 billion
CAGR (%)	5.15%

Regional Insights

The American region is a significant market for canned salmon, mainly due to its long-standing tradition of salmon consumption, which is often viewed as a convenient and healthy protein source. Consumers in this region are driven by health awareness and the convenience of canned goods. Moreover, United States consumers show a growing preference for wild-caught, sustainably sourced salmon over farmed varieties, reflecting broader environmental and health trends. In European Union countries, there is a strong demand for canned salmon due to its health benefits and long shelf-life. The trend towards organic and sustainable food choices has led to increased demand for certified canned salmon products. Northern European countries, in particular, display high per capita consumption of canned salmon. The market in the Middle East is relatively smaller but growing, driven by an increasing expatriate population and shifting dietary preferences towards more diverse and protein-rich diets. However, the preference for fresh over canned fish can pose challenges to market growth. In APAC, the canned salmon market is expanding rapidly due to rising income levels and greater health consciousness among consumers. There is a growing preference for imported canned salmon, perceived as being of higher quality than local options. Japan has a sophisticated market for canned salmon, supported by a cultural preference for fish and seafood.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Canned Salmon 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
- Growing consumer preference for convenient and healthy food products
- Supportive government investments in food processing sector

Market Restraints
- Fluctuating raw material costs and issues of product recalls

Market Opportunities
- Advancements in processing and packaging of canned salmons
- Significant expansion of cold chain facilities and offline retail stores

Market Challenges
- Concerns associated with product deterioration and microbial contamination

Market Segmentation Analysis
- Fish Type: Pink salmon preferred in salads & sandwiches due to its softer texture and moderate flavor
- Distribution Channel: Increasing shift towards online sales channel due to convenience and various options

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 Salmon 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 Salmon 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

Major Procurement of Pollock and Salmon by USDA Boosts Seafood Industry

In a significant procurement initiative, the U.S. Department of Agriculture (USDA) has allocated USD 100 million towards the purchase of canned pollock and salmon to support the local seafood industry and enhance food security. Key beneficiaries of this program include Ocean Beauty Icicle (OBI) and Peter Pan Seafood, who received contracts for USD 53.9 million and USD 17.2 million respectively. This strategic move is designed to stabilize the seafood market, benefitting both producers and consumers while also ensuring the consistent supply of these popular fish varieties in various community and school meal programs across the country. [Published On: 2024-03-08]

King Oscar Introduces a New Tinned Salmon Product

King Oscar expanded its product lineup with the introduction of a new line of tinned salmon. This line is meticulously designed to cater to the evolving preferences of health-conscious consumers seeking high-quality, convenient protein sources. The launch represents an alignment with the current market trends where there is increasing demand for premium, sustainably sourced, and nutritious seafood options. [Published On: 2024-01-16]

USD 4.5 Million Contract Boost for the U.S. Canned Salmon Manufacturers

In a significant development, OBI Seafoods, Silver Bay Seafoods, and Trident Seafoods have collectively been awarded a USD 4.5 million contract to supply canned salmon to the U.S. Department of Agriculture. This initiative supports the USDA's food assistance and child nutrition programs for the fiscal year 2023. Under the terms of the agreement, Silver Bay Seafoods is the principal supplier, delivering 59,280 cases of wild pink salmon, amounting to USD 3.55 million. [Published On: 2023-03-20]

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 Salmon 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 Salmon Market, highlighting leading vendors and their innovative profiles. These include Alaska General Seafoods by Canfisco Group, Alaska Gold, Brunswick Seafood, Bumble Bee Foods, Clover Leaf Seafoods, John West, King Oscar, MW Polar Foods, OBI Seafoods, Ocean Brands by Jim Pattison Group, Okanagan Select, Paramount Foods, Peter Pan Seafood, Princes Food & Drinks, Pure Alaska Salmon Company, Raincoast Trading, Safe Catch, Silver Bay Seafoods, LLC, St. Jean's Cannery & Smokehouse, Trident Seafoods, Vital Choice Wild Seafood & Organics, and Wild Planet Foods by Bolton Group S.r.l..

Market Segmentation & Coverage

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

Fish Type
- Chum Salmon
- Pink Salmon
- Red Salmon

Type
- Plain
- Seasoned
- Smoked

Processing Type
- Skinless & Boneless
- With Skin & Bones

Distribution Channel
- Offline
  - Convenience Stores
  - Supermarkets & Hypermarkets

Online

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

Product Code: MRR-5D693B46BD11

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing consumer preference for convenient and healthy food products
  - 5.1.1.2. Supportive government investments in food processing sector
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuating raw material costs and issues of product recalls
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in processing and packaging of canned salmons
  - 5.1.3.2. Significant expansion of cold chain facilities and offline retail stores
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with product deterioration and microbial contamination
5.2. Market Segmentation Analysis
- 5.2.1. Fish Type: Pink salmon preferred in salads & sandwiches due to its softer texture and moderate flavor
- 5.2.2. Distribution Channel: Increasing shift towards online sales channel due to convenience and various options
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Canned Salmon Market, by Fish Type

6.1. Introduction
6.2. Chum Salmon
6.3. Pink Salmon
6.4. Red Salmon

7. Canned Salmon Market, by Type

7.1. Introduction
7.2. Plain
7.3. Seasoned
7.4. Smoked

8. Canned Salmon Market, by Processing Type

8.1. Introduction
8.2. Skinless & Boneless
8.3. With Skin & Bones

9. Canned Salmon Market, by Distribution Channel

9.1. Introduction
9.2. Offline
9.3. Online

10. Americas Canned Salmon Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Canned Salmon Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Canned Salmon Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Major Procurement of Pollock and Salmon by USDA Boosts Seafood Industry
- 13.3.2. King Oscar Introduces a New Tinned Salmon Product
- 13.3.3. USD 4.5 Million Contract Boost for the U.S. Canned Salmon Manufacturers
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio