Canned Seafood Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The canned seafood market is segmented by Type (Canned Fish, Canned Shrimp, Canned Prawns, and Other Types), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail Stores, and Other Distribution Channels), and Geography.

Market Snapshot

Global Canned Seafood Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 4.64 %

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Market Overview

The canned seafood market is projected to register a CAGR of 4.64% during the forecast period of 2020-205.

  • Seafood is a popular source of protein and other nutrients. 
  • Canned seafood includes canned fish, such as tuna, salmon, and sardines, or frozen fish fillets, crustaceans, and mollusks. Canned seafood is the second-most popular category of processed seafood, after the frozen category.
  • There is an increasing demand for sustainably sourced seafood, due to their numerous health benefits. Cans are expected to emerge as a popular packaging medium, with the increased number of canned seafood available in various distribution channels.

Scope of the Report

There are numerous canned seafood products that are available globally. Some of the popular seafood products available in the market include canned fish (such as tuna, salmon, and sardines), canned shrimp, canned prawns, and others. The market is majorly operated through the supermarket/ hypermarkets, convenience stores, online sales channels, and others. The market is studied in different countries under the respective regions, in order to provide a broader perspective of the market.

By Type
Canned Fish
Tuna
Salmon
Sardines
Canned Shrimp
Canned Prawns
Other Types
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Online Retail Stores
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
United Arab Emirates
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand For Sustainable Food Products

Canned fish is processed and sealed in an airtight container (such as a sealed tin can) and subjected to heat. Fish contains low acidity where microbes can flourish, and thus, requires sterilization under high temperature (116-130 °C). Other than sterilization, no method is perfectly dependable for preserving. Consumers are seeking minimally processed foods that are free from synthetic preservatives and obnoxious residues of fertilizers and antibiotics. Canned foods are, thus, the best alternatives for satisfying the criteria. There is an increased demand for canned fish products (such as canned salmon) among health-conscious consumers, particularly athletes. Canned seafood, such as salmon, is a rich source of iron, high-quality protein, omega-3 fatty acids, and vitamin B-12. These make it popular among the aforementioned segment of the population. The prospect of higher growth in the e-commerce of seafood is also driving its growth. Online shopping offers extra convenience and the buying experience is greatly enhanced. the governments worldwide are encouraging sustainable production and processing of seafood, in order to empower the coastal community and improve their livelihoods. These initiatives are also boosting the growth of the canned seafood market. The marine economy also developed in the recent years, with different nations coming together on a common platform to sustainably develop the fisheries sector. The blue revolution in India is one such example.

Global Canned Seafood Market

India Has Emerged As One OF The Most Lucrative Markets For Canned Seafood

India is a rapidly growing market for packaged and processed fish and seafood, a category that includes frozen and canned products. Thus, the canned seafood segment has a huge untapped potential with an abundant supply of raw material (but it lacks infrastructural resources). The share of the food manufacturing industries is expected to increase, aligning with the objective of 'Make in India’, a flagship program that aims to provide a significant fillip to the secondary sector of the economy. This factor is propelling the market for niche foods, like canned processed products. The external situation is also expected to be favorable for the canned food market, with India receiving 43% higher foreign direct investment (FDI) in the food processing industry for the fiscal year 2016-17, compared to the previous fiscal year. India has also allowed 100% FDI in the manufacturing of food products and 100% FDI in the trading (including e-commerce) of food products manufactured and produced in India. This factor is expected to attract the foreign manufacturers of canned foods. There has been a major shift observed in the food habits of people in the metropolitan cities of India. A survey conducted by the Associated Chamber of Commerce and Industry of India (Assocham) revealed that about 79% of households prefer instant food, due to a steep increase in incomes and changing standards of living and convenience. Canned foods are, thus, expected to generate higher sales in the urban areas. 

Global Canned Seafood Market

Competitive Landscape

the companies in the canned food market are investing heavily in product development by strengthening their R&D initiatives for the long term. Strategic alliances and agreements with regional players are also some of the approaches preferred by the manufacturers to increase their revenue and widen their geographical presence. The major players in the market are Thai Union Group Company Inc., Bumble Bee Foods LLC, Maruha Nichiro Corporation, Maruha Nichiro Corporation, and others. 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Canned Fish

        1. 5.1.1.1 Tuna

        2. 5.1.1.2 Salmon

        3. 5.1.1.3 Sardines

      2. 5.1.2 Canned Shrimp

      3. 5.1.3 Canned Prawns

      4. 5.1.4 Other Types

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Online Retail Stores

      4. 5.2.4 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Thai Union Group

      2. 6.4.2 Bumble Bee Foods LLC

      3. 6.4.3 Dongwon Industries Co.

      4. 6.4.4 Trident Seafoods Corporation

      5. 6.4.5 Maruha Nichiro Corporation

      6. 6.4.6 The Calvo Group

      7. 6.4.7 Brunswick Seafood

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Canned Seafood Market market is studied from 2016 - 2026.

The Canned Seafood Market is growing at a CAGR of 4.64% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Thai Union Group , Bumble Bee Foods, LLC,, Dongwon Industries Co , Trident Seafoods Corporation, Maruha Nichiro Corporation, The Calvo Group are the major companies operating in Canned Seafood Market.

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