What Has Been The Evolution of the Canned Seafood Market in Recent Years?
The canned seafood market has seen considerable growth due to a variety of factors.
•In recent times, the canned seafood market has seen robust growth. The market size is projected to expand from $35.27 billion in 2024 to $37.2 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.5%.
This growth in the past years has been driven by factors such as an incorporation of global cuisines, heightened health benefits, urbanization, demanding schedules, an increase in disposable income, and international trade.
What Is the Forecasted Market Size and Growth Rate for The Canned Seafood Market?
The canned seafood market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to witness substantial expansion in the forthcoming years, the canned seafood market size is predicted to rise to "$47.47 billion by 2029, with a compound annual growth rate (CAGR) of 6.3%.
The predicted growth during the forecast period is due to factors such as practices of sustainability, the growing e-commerce sector, premium product offerings, clean label movements, plant-based alternatives, and regulatory adherences. Significant trends predicted for the forecast period consist of advancements in packaging, innovative flavors, the rise of ready-to-eat products, customization, personalization, and cultural influences.
Which Factors Are Boosting Growth In The Canned Seafood Market?
The escalation of health issues such as heart disease and diabetes is projected to augment the expansion of the canned seafood market. Heart disease encompasses conditions that impact the heart or blood vessels like congestive heart failure, coronary artery disease, heart rhythm issues, among others. Canned seafood is a valuable supply of omega-3 fatty acids which provide health merits such as anti-inflammatory effects, decreased triglycerides, slightly reduced blood pressure, lessened blood clotting, reduced risk of heart failure and strokes, and lessened irregular heartbeats which are related to a variety of chronic illnesses, inclusive of heart disease and diabetes. Take, for example, in September 2024, the British Heart Foundation, a cardiovascular research charity located in the UK, reported that around 7.6 million people are dealing with heart and circulatory diseases in the UK, with nearly 4 million males and 3.6 million females suffering from these conditions. These afflictions account for about 27% of all mortalities in the UK, which equates to more than 170,000 deaths per annum, or around 480 deaths daily, equating to one death every three minutes. Additionally, National Health Service, a publicly funded healthcare system in the UK, revealed in June 2024, that the latest National Diabetes Audit showed an increase in individuals with non-diabetic hyperglycaemia, usually referred to as pre-diabetes, from 3,065,825 in 2022, to 3,615,330 in 2023. Hence, the escalation in health issues like heart disease and diabetes stimulates the expansion of the canned seafood market.
What Key Areas Define The Segmentation Of The Global Canned Seafood Market?
The canned seafood market covered in this report is segmented –
1) By Type: Canned Fish, Canned Mollusks, Canned Crustaceans, Canned Cephalopods
2) By Distribution channel: Hyper markets and Super markets, Convenience stores, Independent grocery stores, Specialty stores, Online retail
3) By End User: Households, Commercial
Subsegments:
1) By Canned Fish: Tuna, Salmon, Sardines, Mackerel, Anchovies
2) By Canned Mollusks: Clams, Oysters, Scallops, Mussels
3) By Canned Crustaceans: Shrimp, Crab, Lobster, Prawns
4) By Canned Cephalopods: Squid, Octopus, Cuttlefish
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How Are Emerging Trends Reshaping The Dynamics Of The Canned Seafood Market?
The trend towards product innovation is becoming increasingly prominent in the canned seafood market. Major players in this market are focusing on innovative product development to solidify their market presence. For example, Wild Planet Foods, a US canned seafood business, introduced new sustainably sourced seafood offerings in July 2023. Their new product range includes Skipjack Solid Light Wild Tuna in Pure Olive Oil, which is hand-cut, 100% pole & line caught, and seasoned with sea salt and olive oil for a rich, smooth taste and low mercury content. Also part of their innovative line-up is the Wild Smoked Pink Salmon in Extra Virgin Olive Oil, which gets its sweet smoky taste from alder wood smoking and comes from the Northeast Pacific, ideal for adding a unique flavor to bagels or snacks. The Wild Smoked Mackerel Fillets in Extra Virgin Olive Oil are hand-packed and come from ethically sourced North Atlantic and Eastern Pacific catch, promising a sumptuous taste enhanced with olive oil and sea salt. The Wild Pink Salmon 3-Pack includes skinless and boneless salmon obtained from small-scale fishing in Alaska and British Columbia, perfect for quickly putting together salads or seafood meals. The Wild Tuna Quinoa Salad Ready-To-Eat Meal incorporates skipjack tuna with organic quinoa, sweetcorn, zucchini, and peas, offering a healthy, ready-to-eat meal option for those who value both convenience and sustainability.
Who Are the Key Players in the Canned Seafood Market?
Major companies operating in the canned seafood market include:
• StarKist Co.
• Maruha Nichiro Corporation
• Wild Planet Foods Inc.
• Trident Seafoods Corporation
• Connors Brothers Limited
• Thai Union Group
• Bumble Bee Foods LLC
• Dongwon Food Co. Ltd.
• Nissui Corporation
• American Tuna Inc.
• Universal Canning Incorporated
• Tri Marine Group
• Mowi ASA
• Sajo Industries Co. Ltd.
• Nueva Pescanova S.L
• Royal Greenland A/S
• The Calvo Group
• Austevoll Seafood ASA
• Marine Harvest ASA
• Nippon Suisan Kaisha Ltd.
• Century Pacific Food Inc.
• Bolton Group
• OKAM
• John West Foods
• Clover Leaf Seafoods Company
• Brunswick Seafood
• Chicken of the Sea
• Empresas Aquachile SA
• Gomes da Costa
• Empress International Ltd.
What Is The Most Dominant Region In The Canned Seafood Market?
Europe was the largest region in the canned seafood market in 2024. South America is expected to be the fastest-growing region in the global canned seafood market during the forecast period. The regions covered in the canned seafood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
