Asia Pacific Canned Seafood Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.89 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Canned Seafood Market Analysis
Asia Pacific canned seafood market is expected to grow with a CAGR of 6.89 % during the forecast period (2020 - 2025).
- The countries of the Asia Pacific region have been developing at a rapid pace which is leading to the up-gradation of the society, improving the buying power of the people as the economies become stronger. Thus, progress in the lifestyles of the consumers is likely to bring in the concept of healthy eating. promoting the market of canned seafood in the region.
- Canned seafood has a long shelf life even when stored at room temperatures. Countries like China, Japan, and South Korea have a traditional significance of fish in their cultures and therefore, the high demand for fish in the countries is likely to foster the growth of the market.
- The Asia Pacific market is expected to be witness a significant demand for canned seafood in the near future owing to the rising health concerns as a result of excessive consumption of red meat.
Asia Pacific Canned Seafood Market Trends
This section covers the major market trends shaping the APAC Canned Seafood Market according to our research experts:
Tuna Dominates the Market of Canned Seafood in the Region
Tuna is a delicacy among the Asian people due to its appealing taste and ability to blend well with multiple flavors. The canned tuna products invading the Asian market presently are flaunting unique flavors apart from the conventional ones that have a high demand. The canned tuna market in the region is mature and has been declining to an extent in recent years due to the consumers swaying towards other seafood, particularly shellfish. The manufacturers in the Asian countries have, therefore, been innovating their products in terms of base ingredients that can appeal to the consumers' palate. However, in Australia, the consumption of tuna turns out to more than the combined of all other fish types.
Australia is a Potential Market for Canned Seafood in the Region
Australia is full of fresh seafood, and yet canned and frozen fish remain the most frequently purchased seafood products by more than half of all Australians. As per the consumer data, commissioned by the non-profit Marine Stewardship Council, the largest global analysis of attitudes to seafood consumption, in 2016, 75% of Australians were revealed to consider sustainably sourced seafood a top priority, while more than 50% were willing to pay more for seafood that was certified sustainable. The international MSC is best known for its blue eco-label, displayed on products that are fully traceable and originate from independently certified wild-catch fisheries. In Australia, the majority of people purchased fish and seafood products in supermarkets, with Coles the most popular destination, followed by Woolworths, ALDI, and IGA as the latter three sell MSC-certified frozen and canned seafood.
Asia Pacific Canned Seafood Industry Overview
Expanding the market presence in emerging economies of the region has been a key strategy behind the global companies' growth. With growing income levels and an increasing level of knowledge regarding the consumption of healthy food in these economies, companies are catering to the dynamic needs of the people for canned seafood in the regional countries. Moreover, the convenience associated with the handling and storage of canned seafood further promotes the market potential. Regional private-label brands hold a significant share due to the increasing consumer inclination towards low-priced products. The global brands also hold a considerable share due to their esteemed reputation in the global market. Geographical expansion into the countries have been a major strategy adopted to establish a large consumer base. Product innovation by combining new flavors to the seafood has been another tactic to regulate the dynamic market.
Asia Pacific Canned Seafood Market Leaders
Tri Marine Group
Tropical TC Boy Sdn Bhd.
Kyokuyo Co., Ltd
StarKist Co.
Maruha Nichiro Corporation
*Disclaimer: Major Players sorted in no particular order
Asia Pacific Canned Seafood Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Product Type
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5.1.1 Canned Fish
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5.1.1.1 Tuna
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5.1.1.2 Salmon
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5.1.1.3 Other Canned Fish
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5.1.2 Canned Shrimp
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5.1.3 Other Canned Fish
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5.2 By Distribution Channel
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5.2.1 Supermarkets/Hypermarkets
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5.2.2 Convenience Stores
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5.2.3 Online Retail Stores
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5.2.4 Other Distribution Channels
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5.3 Geography
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5.3.1 China
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5.3.2 Japan
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5.3.3 South Korea
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5.3.4 Australia
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5.3.5 Rest of Asia Pacific
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 Maruha Nichiro Corporation
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6.4.2 StarKist Co.
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6.4.3 Kyokuyo Co., Ltd
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6.4.4 Nippon Suisan Kaisha, Ltd.
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6.4.5 Thai Union Group
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6.4.6 Tropical TC Boy Sdn Bhd.
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6.4.7 Tri Marine
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6.4.8 Spectra International Limited
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia Pacific Canned Seafood Industry Segmentation
The Asia Pacific canned seafood market is segmented by product type into canned fish, canned shrimp, and other canned fish. The canned fish segment is further divided into tuna, salmon, and other canned fish types. Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels. The market is also classified by geography into China, Japan, South Korea, Australia, and Rest of Asia Pacific region.
| By Product Type | |||||
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| Canned Shrimp | |||||
| Other Canned Fish |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |
| China | |
| Japan | |
| South Korea | |
| Australia | |
| Rest of Asia Pacific |
Asia Pacific Canned Seafood Market Research FAQs
What is the current Asia Pacific Canned Seafood Market size?
The Asia Pacific Canned Seafood Market is projected to register a CAGR of 6.89% during the forecast period (2024-2029)
Who are the key players in Asia Pacific Canned Seafood Market?
Tri Marine Group, Tropical TC Boy Sdn Bhd., Kyokuyo Co., Ltd, StarKist Co. and Maruha Nichiro Corporation are the major companies operating in the Asia Pacific Canned Seafood Market.
What years does this Asia Pacific Canned Seafood Market cover?
The report covers the Asia Pacific Canned Seafood Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Canned Seafood Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Canned Seafood Industry Report
Statistics for the 2024 Asia Pacific Canned Seafood market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Canned Seafood analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
