According to a new report published by Introspective Market Research, titled, ?Canned Seafood Market by Distribution Channel and Type: Global Opportunity Analysis and Industry Forecast, 2024?2032,? the global Canned Seafood market size was valued at $ 37.74 billion in 2023 and is projected to reach $65.96 billion by 2032, registering a CAGR of 6.4% from 2024 to 2032. The growing awareness of the health benefits associated with seafood, particularly its rich content of omega-3 fatty acids, vitamins, and minerals, has significantly boosted the market for canned fish. Omega-3 fatty acids, predominantly found in fish such as salmon, sardines, and tuna, are celebrated for their positive impacts on heart health and cognitive function. These essential fats help reduce the risk of heart disease and improve brain health, making canned seafood an attractive option for health-conscious consumers. As research continues to highlight the advantages of omega-3s and other nutrients present in seafood, more individuals are turning to canned options as a practical way to integrate these benefits into their diets. Canned seafood's convenience, combined with its nutritional value, positions it as a preferred choice for those seeking to maintain a balanced and healthful diet.
Additionally, canned seafood serves as an excellent source of high-quality protein that is lower in saturated fats compared to other animal protein sources. This aspect is particularly appealing to health-conscious individuals aiming to reduce their intake of unhealthy fats. Vitamins and minerals such as vitamin D, calcium, and selenium found in canned seafood further contribute to its health benefits. With increasing health awareness, consumers recognize the role of these nutrients in supporting overall well-being, including bone health, immune function, and antioxidant protection. Consequently, the nutritional profile of canned seafood makes it a valuable addition to a varied and balanced diet, driving its popularity among a broad spectrum of consumers.
The rise of e-commerce and direct-to-consumer (DTC) sales has revolutionized the way canned seafood is marketed and sold. As consumer preferences shift towards more efficient shopping experiences, seafood companies are leveraging digital platforms to reach a wider audience and enhance customer engagement. E-commerce enables these businesses to overcome geographic limitations, making their products accessible to a global customer base. A strong online presence, featuring mobile apps and user-friendly websites, allows companies to showcase their product range, educate consumers about nutritional benefits, and personalize the shopping experience. This direct interaction fosters brand loyalty and trust, particularly among consumers seeking convenience and specific dietary requirements.
Furthermore, e-commerce platforms provide seafood companies with valuable insights into consumer behavior and preferences. This data-driven approach allows businesses to tailor their marketing strategies and product offerings to meet the diverse needs and tastes of their customers, maximizing sales and market penetration. The convenience of online shopping, coupled with the growing demand for home delivery services, aligns with consumers' busy lifestyles, making canned seafood an even more attractive option. By embracing e-commerce and DTC sales channels, canned seafood brands can significantly expand their market reach, enhance customer engagement, and drive growth in an increasingly digital marketplace. This strategic shift not only benefits consumers with easier access to nutritious and convenient food options but also positions companies for sustained success in the competitive food industry.
Global Canned Seafood Market, Segmentation
The Canned Seafood market is segmented based on Type, Distribution Channel, and Region.
Type:
The packaging type segment is further classified into Shrimp, Salmon, Sardines, Tuna, and Prawns. Among these, the Tuna sub-segment accounted for the highest market share in 2023. The widespread use of recyclable materials such as plastic, glass, metal, and paper has boosted the growth of this market. These materials are recycled by manufacturers to create new packaging, resulting in significant waste reduction. It is now the most widely used and accepted type of Canned Seafood. Furthermore, the use of recycled plastic is becoming increasingly popular around the world due to the low cost of plastic and its high durability. The low cost of recycled plastic has quickly gained traction in developing countries. As a result of the increasing adoption of recycled plastic across various end-use verticals, this segment has gained global dominance.
Distribution Channel:
Distribution Channel segment is further classified into Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, and Online Retail. Among these, the personal care sub-segment is anticipated to show the fastest growth by 2032. The supermarkets and hypermarkets segment dominates the canned seafood market due to several key factors. These retail giants offer extensive product ranges and convenient shopping experiences, making them a preferred choice for consumers. Their widespread presence ensures easy access to a variety of canned seafood products, catering to diverse consumer preferences. Additionally, supermarkets and hypermarkets often provide competitive pricing and promotional offers, further attracting shoppers.
Region:
The Canned Seafood market in Asia-Pacific is projected to show the fastest growth by 2032. The Asia-Pacific region's significant consumer base is increasingly demanding quick and healthy meal options, making canned fish an excellent choice. As disposable incomes rise and lifestyles become faster-paced, the need for ready-to-eat meals is growing, boosting the popularity of canned fish products. The region is rich in marine resources and has a strong tradition of seafood consumption, providing a solid foundation for canned seafood production and consumption. Furthermore, effective marketing, efficient distribution, and innovations in packaging and product variations tailored to local tastes enhance the region's dominance in the canned seafood market.
Some of The Leading/Active Market Players Are-
- American Tuna, Inc. (Us)
- Bolton Group International (Italy)
- Bonduelle Group (France)
- Bumble Bee Foods LLC (United States)
- Capital Fish Company (U.S)
- Connors Bros. Ltd. (Canada)
- Crown Prince, Inc. (United States)
- Dongwon Industries Co., Ltd. (South Korea)
- Empresas Aquachile S.A. (Chile)
- Gomes Da Costa (Brazil) and Other Active Players
Key Industry Developments
- In May 2024, Canadian seafood supplier Export Packers announced on Thursday that it had acquired the assets of Ontario-based Toppits Foods, an importer and supplier of fresh and frozen seafood. This acquisition marks a significant expansion for Export Packers, strengthening its presence in the Canadian seafood market. Toppits Foods, known for its quality seafood products, adds valuable resources and expertise to Export Packers' operations.
- In April 2024, The Zalmhuys Group, based in Urk, Netherlands, acquired a minority stake in Anova Seafood. Comprising four distinct companies?distribution wing Affish, fresh fish-focused Affish Fresh, frozen fish-focused Ocean Fish, and salmon-focused Het Urker Zalmhuys?Zalmhuys Group made this acquisition as a strategic move. Anova Seafood, a distributor of fresh and chilled seafood primarily serving the European market, specializes in whitefish products such as cod, Lake Victoria perch, pangasius, and catfish.
Key Findings of the Study
- The Tuna Segment held the major share of the market accounting near 45.87% of the total Canned Seafood market.
- The Asia Pacific is expected to continue to lead the market followed by North America during the forecast period.
- Supermarkets and hypermarkets dominate due to extensive product ranges, convenient shopping experiences, and competitive pricing
