Global Canned Seafood Market is anticipated to reach USD 27.8 billion by 2025. Preventing food from spoilage by storing it in jars or containers and heating it to a temperature that destroys microorganisms causing it to spoil is termed canning. It is considered a key and safe method for preserving food, and it retains fat, protein, and carbohydrate constituents.
The essential nutrients added during the canning process including vitamin D and A lead to the improvement of metabolism, and vitamin B12 improves eyesight. Canned seafood helps in lowering the risk of depression and raising bone strength owing to its calcium content. Also, it possesses low cholesterol, high protein, and low-fat content in it. Boosting the immunity power is also one of the major health benefits offered by the product.
The factors that propel the growth of the canned seafood industry include rapid urbanization & industrialization, increasing demand, product development & technological innovations, rise in the purchasing power of the consumers coupled with the change in eating patterns. Also, the rising busy schedule of the consumers has raised the inclination towards canned food such as ready-to-eat meals.
On the other hand, some factors may hamper the market growth such as the harmful effects of canned seafood consumption. Several canned seafood have excess amounts of sugar and salt that are used as preservatives. In addition, the antioxidants present in food are destroyed during the heating process in canning. Moreover, the high presence of BPA in cans is the main factor hindering market growth. This chemical can lead to birth disorders, infertility, heart diseases, cancerous tumors, etc. The canned seafood market is anticipated to grow at a significant CAGR of 3.2% in the upcoming period as the scope, product types, and applications are increasing across the globe.
The canned seafood industry may be explored by product, distribution channel, and geography. The market may be explored by-products as Sardines, Tuna, Salmon, other fish, Shrimps, Prawns, and other seafood. The “Canned Tuna” segment dominated the canned seafood market in 2016 and is anticipated to maintain its dominance by 2025, owing to Tuna that is a rich source of lean proteins, and it also contains other nutrients such as omega 3 fatty acid, which results in the improvement of personal health.
The canned seafood industry may be explored by distribution channels such as retailers and independent dealers, online stores, supermarkets, and others. The “Retailers and Independent dealers” segment dominated the market in the forecast period owing to the ease of availability of these products in food marts and supermarkets.
Asia-Pacific accounted for the major share of the canned seafood market size in 2016 and will continue to lead in the forecast period; wherein China is a key contributor in this region tracked by India. The major factors that can attribute to the growth of Asia Pacific include the ever-increasing population, rapid urbanization, growth in the working population, rise in disposable income, and changing eating patterns.
Some of the key players that fuel the development of the canned seafood industry comprise Bumble Bee Seafoods, merican Tuna, Inc., Wild Planet Foods, Icicle Seafoods Inc., Connors Bros. Ltd., LDH (La Doria) Ltd, Nippon Suisan Kaisha, Ltd, Princes Group, Maruha Nichiro Corporation, StarKist Co., Tri Marine Group, Trident Seafoods Corporation, Thai Union Frozen Products, Universal Canning, Inc., Sajo Industries, Dong Won Fisheries, and Mogster Group. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures to boost the inorganic growth of the industry.
Canned Seafood Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• Other fish
• Other seafood
Canned Seafood Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• North America
• the U.S.
• the UK
• the Asia Pacific
• Central & South America
• Middle East & Africa
• East Africa
Research Support Specialist, USA
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