PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454053
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454053
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
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- 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
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- 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
- Table 1 Global Canned Seafood Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
- Table 3 Global Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
- Table 4 Global Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
- Table 5 Global Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
- Table 6 Global Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
- Table 7 Global Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
- Table 8 Global Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
- Table 9 Global Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
- Table 10 Global Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 11 Global Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 12 Global Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 13 Global Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 14 Global Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 15 Global Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 16 Global Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
- Table 17 North America Canned Seafood Market Outlook, By Country (2021-2030) ($MN)
- Table 18 North America Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
- Table 19 North America Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
- Table 20 North America Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
- Table 21 North America Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
- Table 22 North America Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
- Table 23 North America Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
- Table 24 North America Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
- Table 25 North America Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
- Table 26 North America Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 27 North America Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 28 North America Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 29 North America Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 30 North America Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 31 North America Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 32 North America Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
- Table 33 Europe Canned Seafood Market Outlook, By Country (2021-2030) ($MN)
- Table 34 Europe Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
- Table 35 Europe Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
- Table 36 Europe Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
- Table 37 Europe Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
- Table 38 Europe Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
- Table 39 Europe Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
- Table 40 Europe Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
- Table 41 Europe Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
- Table 42 Europe Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 43 Europe Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 44 Europe Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 45 Europe Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 46 Europe Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 47 Europe Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 48 Europe Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
- Table 49 Asia Pacific Canned Seafood Market Outlook, By Country (2021-2030) ($MN)
- Table 50 Asia Pacific Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
- Table 51 Asia Pacific Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
- Table 52 Asia Pacific Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
- Table 53 Asia Pacific Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
- Table 54 Asia Pacific Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
- Table 55 Asia Pacific Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
- Table 56 Asia Pacific Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
- Table 57 Asia Pacific Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
- Table 58 Asia Pacific Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 59 Asia Pacific Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 60 Asia Pacific Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 61 Asia Pacific Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 62 Asia Pacific Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 63 Asia Pacific Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 64 Asia Pacific Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
- Table 65 South America Canned Seafood Market Outlook, By Country (2021-2030) ($MN)
- Table 66 South America Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
- Table 67 South America Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
- Table 68 South America Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
- Table 69 South America Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
- Table 70 South America Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
- Table 71 South America Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
- Table 72 South America Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
- Table 73 South America Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
- Table 74 South America Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 75 South America Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 76 South America Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 77 South America Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 78 South America Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 79 South America Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 80 South America Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
- Table 81 Middle East & Africa Canned Seafood Market Outlook, By Country (2021-2030) ($MN)
- Table 82 Middle East & Africa Canned Seafood Market Outlook, By Product Type (2021-2030) ($MN)
- Table 83 Middle East & Africa Canned Seafood Market Outlook, By Canned Fish (2021-2030) ($MN)
- Table 84 Middle East & Africa Canned Seafood Market Outlook, By Tuna (2021-2030) ($MN)
- Table 85 Middle East & Africa Canned Seafood Market Outlook, By Salmon (2021-2030) ($MN)
- Table 86 Middle East & Africa Canned Seafood Market Outlook, By Sardines (2021-2030) ($MN)
- Table 87 Middle East & Africa Canned Seafood Market Outlook, By Mackerel (2021-2030) ($MN)
- Table 88 Middle East & Africa Canned Seafood Market Outlook, By Canned Shrimp (2021-2030) ($MN)
- Table 89 Middle East & Africa Canned Seafood Market Outlook, By Canned Prawns (2021-2030) ($MN)
- Table 90 Middle East & Africa Canned Seafood Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 91 Middle East & Africa Canned Seafood Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 92 Middle East & Africa Canned Seafood Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 93 Middle East & Africa Canned Seafood Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 94 Middle East & Africa Canned Seafood Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 95 Middle East & Africa Canned Seafood Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 96 Middle East & Africa Canned Seafood Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
