New York, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Canned Seafood Global Market Report 2023" - https://www.reportlinker.com/p06479695/?utm_source=GNW
, Nissui Corporation, American Tuna Inc., Universal Canning Incorporated, Tri Marine Group, Mowi ASA, Sajo Industries Co Ltd., Nueva Pescanova S.L, and Royal Greenland A/S.
The global canned seafood market is expected to grow from $31.56 billion in 2022 to $33.40 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The canned seafood market is expected to reach $41.37 billion in 2027 at a CAGR of 5.5%.
The canned seafood market consists of sales of canned shellfish, canned tuna, canned salmon, canned sardines, canned herring and canned mackerel.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Canned seafood refer to a professionally prepared seafood that has been processed, sealed in a hermetic container for human consumption. It is used for providing a convenient and affordable source of protein, omega-3 fatty acids, vitamins, and minerals that can be used in a variety of dishes.
Europe was the largest region in the canned seafood market in 2022.South America is expected to be the fastest-growing region in the forecast period.
The regions covered in canned seafood report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of canned seafood are canned fish, canned mollusks, canned crustaceans, and canned cephalopods.Canned fish refers to processed fish such as tuna, salmon, mackerel, and sardines that are tightly packaged in tin cans with water, oil, and sauces to increase shelf-life, and theses are high in minerals and protein, and high in omega-3 and omega-6 fatty acids, vitamin D, vitamin B12, choline, iron, and iodine, and used in protein-rich diets.
The major distribution channel includes hypermarkets and supermarkets, convenience stores, independent grocery stores, specialty stores, and online retail, and are used in households and commercial.
The rise in health problems like heart disease and diabetes is expected to propel the growth of the canned seafood market going forward.Heart disease refers to a type of condition that affects the heart or blood vessels such as coronary artery disease, congestive heart failure, heart rhythm problems, and others.
Canned seafood is a rich source of omega-3 fatty acids which offer health benefits such as anti-inflammatory properties, decreased triglycerides, lowered blood pressure slightly, reduced blood clotting, decreased risk of strokes and heart failure, and reduced irregular heartbeats that is associated with a range of chronic diseases, including heart disease and diabetes. according to The National Heart, Lung, and Blood Institute, a US-based Institute of the National Institutes of Health, providing training, and education programs to promote the prevention and treatment of heart, lung, and blood diseases, U.S. mortality from March to August 2020, 76,767 people perished from cardiovascular disease, which affects the blood arteries that support the brain and related systems, and 339,076 people perished from heart disease. Furthermore, for instance, in December 2021, according to the International Diabetes Federation, a Belgium-based diabetes community approximately 537 million adults are suffering from diabetes globally, whereas 3 out of 4 adults are in low- and middle-income countries. Therefore, the rise in health problems like heart disease and diabetes drives the growth of the canned seafood market.
Product innovation has emerged as a key trend gaining popularity in the canned seafood market.Major market players operating in canned seafood market are concentrating their efforts on creating innovative products to strengthen their position in the market.
For instance, in September 2021, John West Foods, a UK-based seafood marketing company, introduced a nutrient-rich canned tuna range in the functional food category. John West’s nutrient-rich tuna range is available in three different variants such as energy, heart, and immunity to offer heart function, enhanced immunity, and a high amount of vitamin B to help reduce tiredness and fatigue with ready-to-eat convenience to support busy and active lifestyles.
In May 2021, Thai Union Group, a Thailand-based producer of seafood-based food products such as canned and frozen fish products acquired Rügen Fisch AG (‘Rügen Fisch’) for an undisclosed amount.Through this acquisition, Thai Union Group is expecting to drive and accelerate business strategy and increase the synergies of the company group.
Rügen Fisch AG is a Germany-based company that produces and sells canned seafood.
The countries covered in the canned seafood market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.
The canned seafood market research report is one of a series of new reports that provides canned seafood market statistics, including canned seafood industry global market size, regional shares, competitors with a canned seafood market share, detailed canned seafood market segments, market trends and opportunities, and any further data you may need to thrive in the canned seafood industry. This canned seafood market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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