Global CannedSeafood Market is anticipated to reach USD 27.8 billion by 2025. Preventing food from spoilage by storing it in jars or containers and heating it to a temperature that destroys micro-organisms causing it to spoil is termed as canning. It is considered as a key and safe method for preserving food, and it retains fat, protein, and carbohydrate constituents.
The
essential nutrients added during canning process including vitamin D and A lead
to the improvement of metabolism, and vitamin B12 improves eyesight. Canned sea
food helps in lowering the risk of depression and raising the bone strength
owing to its calcium content. Also, it possesses low cholesterol, high protein,
and low-fat content in it. Boosting the immunity power is also one of the major
health benefits offered by the product.
The
factors that propel the growth of the canned seafood industry include rapid
urbanization & industrialization, increasing demand, and product
development & technological innovations, rise in the purchasing power of
the consumers coupled with the change in eating patterns. Also, rising busy
schedule of the consumers has raised the inclination towards the canned food
such as ready-to-eat meals.
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On
the other hand, there are also factors that may hamper the market growth such
as harmful effects of canned seafood consumption. Several canned seafoods have
excess amounts of sugar and salt that are used as preservatives. In addition,
the antioxidants present in food are destroyed during the heating process in
canning. Moreover, high presence of BPA in cans is the main factor hindering
the market growth. This chemical can lead to birth disorders, infertility,
heart diseases, cancerous tumors, etc. Canned seafood market is anticipated to
grow at a significant CAGR of 3.2% in the upcoming period as the scope, product
types, and its applications are increasing across the globe.
Canned
seafood industry may be explored by product, distribution channel, and
geography. The market may be explored by product as Sardines, Tuna, Salmon,
Other fish, Shrimps, Prawns, and Other seafood. The “Canned Tuna” segment
dominated the canned seafood market in 2016 and is anticipated to maintain its
dominance by 2025, owing to Tuna that is a rich source of lean proteins, and it
also contains the other nutrients such as omega 3 fatty acid, which results in
the improvement of personal health.
Canned
seafood industry may be explored by distribution channels as retailers and
independent dealers, online stores, supermarkets, and others. The “Retailers
and Independent dealers” segment dominated the market in the forecast period
owing to ease of availability of these products in food marts and supermarket.
Asia-Pacific
accounted for the major share of the canned seafood market size in 2016 and
will continue to lead in the forecast period; wherein China is a key
contributor in this region tracked by India. The major factors that can
attribute to the growth of Asia Pacific include ever increasing population,
rapid urbanization, growth in working population, rise in disposable income,
and changing eating patterns.
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Some
of the key players that fuel the development of the canned seafood industry
comprise Bumble Bee Seafoods, merican Tuna, Inc., Wild Planet Foods, Icicle
Seafoods Inc., Connors Bros. Ltd., LDH (La Doria) Ltd, Nippon Suisan Kaisha,
Ltd, Princes Group, Maruha Nichiro Corporation, StarKist Co., Tri Marine Group,
Trident Seafoods Corporation, Thai Union Frozen Products, Universal Canning,
Inc., Sajo Industries, Dong Won Fisheries, and Mogster Group. The leading
companies are taking up partnerships, mergers and acquisitions, and joint
ventures in order to boost the inorganic growth of the industry.
Market
Segment:
Canned
Seafood Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• Tuna
• Salmon
• Sardines
• Other fish
• Prawns
• Shrimps
• Other seafood
Canned
Seafood Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Asia Pacific
• China
• Thailand
• Japan
• Vietnam
• Indonesia
• Israel
• Central & South America
• Brazil
• Middle East & Africa
• GCC
• East Africa
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