Market Trends of South America Canned Seafood Industry
This section covers the major market trends shaping the South America Canned Seafood Market according to our research experts:
Increasing Fish Trade to Foster Market Growth
Brazil is the largest country in the region but still remains largely dependent on imports to satiate the demand of its consumers. The country has all the resources to become an aquaculture leader but the red tape and insufficient supportive legislation, infrastructure, and investments by both domestic and global seafood manufacturers have been discouraging for the growth of aquaculture in the country. On the contrary, Chile and Ecuador are greatly involved in the export of seafood and have been supplying their canned products to Brazil, Argentina, and the other countries of the region. Tilapia is among the most exported seafood in the region, traded both in canned and frozen formats due to its high demand among all other seafood in the region.
Brazil Dominates the Canned Seafood Market in the Region
Brazil is one of the countries with the highest potential for fishery production of the world. Brazil can count on growing investments and institutional commitment to foster businesses associated with regulation, tributary policy, research and technological development, credit lines, stimulation to consumption, among the other policies to set up a strong market for canned seafood in the country. The increasing disposable income of the locals as a result if the upgrading society in the country is a major reason for the inflated demand for canned seafood in the country. The companies are also expanding their distribution channel in the remote areas of their country analyzing the potential of the Brazilian market to prosper in the near future.
