Market Size of Tinned Fish Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Tinned Fish Market Analysis
Tinned Fish Market is projected to register a CAGR of 6.2% during the forecast period, 2022-2027.
The growing demand for seafood coupled due to its healthy attributes like the presence of superior quality proteins, essential fatty acids, and macro and micronutrients is driving the global tinned fish market. Fish represents a rich source of nutrients necessary for good health. In addition, the expanding trend of consuming convenience foods due to busy lifestyles is influencing consumer inclination towards processed food such as tinned fish. Further, the improved distribution infrastructure and fish processing methods are driving the growth of the tinned fish market across the globe. Therefore, new product introductions, expanding distribution channels, and improvements in canning techniques are anticipated to boost market expansion during the projection period.
Packaging is a crucial factor in producing high-quality tinned fish as it aids in the shelf-life and safety of any packaged food. Consumer product usage is anticipated to expand with the introduction of RFID tags in packaging to improve product traceability and aggregation, which will support market expansion. For instance, in March 2021, Thai Union Frozen products SPACE-F announced Foods Tech Accelerator and Incubator Program that allow food processing at a faster pace and preserve the quality of its food.
However, because the quality of fish is influenced by species, the time of year it is harvested, how it is handled, and how it is processed. Thus, appropriate food additives are added to preserve the shelf life, nutritional value, texture, and flavor of tinned fish. As a result, the addition of food additives has the potential to hinder the market's growth during the forecast period.
