Canned Seafood Market to Value $49.4 Bn by 2030, Says The Brainy Insights
Canned crustaceans, mollusks, and cephalopods are anticipated to expand at a faster CAGR during the forecast period. The production volume for the market illustrates a growing trend throughout the years owing to continuous demand.
Newark, Dec. 06, 2022 (GLOBE NEWSWIRE) -- According to The Brainy Insights, the canned seafood market is growing at a CAGR of 5.8% from 2022-2030. The growth is attributed to the rising consumption of canned crustaceans and mollusks among consumers owing to their health benefits and government regulation of fishing. Further, canned seafood plays a significant role in the global seafood market as cans are robust and have a long shelf life. The nutritional value, flavor, and aroma of the contents are optimally preserved in canned. These advantages pay off for producers, retailers, and consumers.
Another factor propelling the demand for canned products is that metal packaging is also 100% recyclable without quality loss and can thus be reused after appropriate treatment. Moreover, canned seafood is affordable, last long, and is available in healthy varieties, with claims such as “no-added salt”, “organic”, and “low-sodium”.
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Canned seafood is becoming a major component in the daily diet of people owing to its unique texture and one-of-a-kind taste. The product is being increasingly adopted by households as well as commercial players involved in the food service industry. A large number of restaurants have been including a variety of tinned seafood in their menus and have been offering the same at affordable prices to cater to the growing demand from consumers.
Canned tuna, sardines, anchovies, salmons, and prawns are the major products that are being consumed worldwide. However, with growing awareness and interest to consume other varieties of seafood, demand for lobsters, mussels, clams, and others is also likely to propel in the upcoming years.
Key players are entering into joint ventures and acquisitions to stay ahead in this growing and competitive market. For instance, in March 2020, the US-based tuna giant Bumble Bee announced a joint venture with Gathered Foods, which is the parent company of plant-based seafood brand Good Catch. The two together are working on the sales, distribution, and logistics for the Good Catch brand.
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Key Players
Wild Planet Foods, Inc.
Tri Marine
StarKist Co.
Maruha Nichiro Corporation
Nippon Suisan Kaisha, Ltd
Thai Union Group
Bumble Bee Foods, LLC
American Tuna, Inc.
Universal Canning Inc.
Trident Seafoods Corporation
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Market Segmentation
Product Insights
Canned Fish
Tuna
Salmon
Sardines
Others
Canned Crustaceans, Mollusks and Cephalopods
Canned Crustaceans
Shrimps
Prawns
Others
Canned Mollusks
Canned Cephalopods
Distribution Channel Insights
Retail
Foodservice
Regional Insights
North America
US
Canada
Europe
UK
Germany
France
Italy
Spain
Asia Pacific
China
Japan
South Korea
Indonesia
Singapore
Thailand
Central and South America
Brazil
Middle East and Africa
South Africa
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