PUBLISHER: SkyQuest | PRODUCT CODE: 1427219
PUBLISHER: SkyQuest | PRODUCT CODE: 1427219
Global Canned Seafood Market size was valued at USD 33.03 billion in 2022 and is poised to grow from USD 35.08 billion in 2023 to USD 56.76 billion by 2031, growing at a CAGR of 6.2% during the forecast period (2024-2031).
The recent surge in the seafood industry is largely attributed to the increasing demand for essential fatty acids and proteins in consumer diets, propelling developments in packaging and preservation methods. With a growing preference for chemical-free and longer-lasting seafood, advancements in canning processes have become pivotal. Through airtight sealing and high-temperature sterilization, fresh seafood is preserved, extending its shelf life and meeting the rising demand for convenient, ready-to-cook meals. Moreover, the expansion of the canned fish market is bolstered by the demand for diverse seafood options across foodservice sectors, driven by heightened awareness of food safety and the popularity of ready-to-eat meal solutions. Future market growth is anticipated to be fueled by technological innovations in canning, product diversification, and an increasingly widespread distribution network, responding to the evolving needs of consumers seeking easily prepared, long-lasting seafood options.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Canned Seafood Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Canned Seafood Market Segmental Analysis
Global Canned Seafood Market is segmented on the basis of product, distribution channel and region. By product, the market is segmented into tuna, salmon, sardines, other fish, prawns, shrimps. By distribution channels, market is segmented into food services and retail. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Drivers of the Global Canned Seafood Market
The rising pace of consumer life has fueled a surge in the desire for convenient, ready-to-eat food choices. Canned seafood emerges as a swift and effortless meal solution, demanding little time and energy for preparation. This ease of use significantly bolsters the canned seafood market, especially appealing to busy professionals and individuals juggling hectic schedules.
Restraints in the Global Canned Seafood Market
Despite advancements in the quality of canned seafood products, there persists a perception among certain consumers that they are inferior to fresh seafood options. This perception can dissuade particular consumers, especially those who prioritize freshness and culinary enjoyment, from buying canned seafood products.
Market Trends of the Global Canned Seafood Market
There is a growing desire among consumers for premium and value-added canned seafood products, leading to heightened market demand. Consumers are demonstrating a willingness to invest in high-quality and gourmet options, prompting manufacturers to innovate their offerings. This trend has spurred product innovation, with companies introducing premium packaging, distinctive flavor blends, and gourmet ingredients to satisfy the preferences of discerning customers.