Canned Seafood Market Unlocking Growth Potential: Analysis and Forecasts 2025-2033

Key Insights

The Canned Seafood Market size was valued at USD 48.94 USD billion in 2023 and is projected to reach USD 72.62 USD billion by 2032, exhibiting a CAGR of 5.80 % during the forecast period. The canned seafood market presents a vital segment of the global food industry, offering convenient, long-lasting seafood products. Key features include easy storage, extended shelf life, and maintained nutritional value. Applications range from retail to food service, catering to diverse consumer preferences globally. Types vary from tuna and salmon to shellfish and speciality seafood blends. Modern canning technologies ensure freshness and safety, impacting market growth positively. Advantages include accessibility, portability, and sustainability, catering to health-conscious and convenience-seeking consumers worldwide.

Canned Seafood Trends

• Growing consumer demand for convenient and shelf-stable seafood products
• Increasing awareness of the health benefits of seafood
• Rise in population and urbanization
• Expanding distribution channels, including e-commerce platforms

Driving Forces: What's Propelling the Canned Seafood Market

• Technological advancements in canning and packaging, enhancing shelf life and preserving nutrient integrity
• Government regulations promoting sustainable fishing practices, ensuring the availability of responsibly sourced seafood
• Increasing purchasing power in emerging economies, fueling demand for affordable and convenient protein sources
• Growing health consciousness and awareness of the nutritional benefits of seafood, particularly its omega-3 fatty acid content

Challenges and Restraints in Canned Seafood Market

• Fluctuations in raw material availability due to climate change, overfishing, and seasonal factors
• Concerns over the safety and quality of canned seafood, including potential contamination and spoilage
• Competition from alternative seafood products, such as fresh, frozen, and value-added seafood options
• Environmental sustainability issues, such as overfishing, packaging waste, and the depletion of marine resources

Emerging Trends in Canned Seafood

• Premiumization of canned seafood products, with a focus on quality and traceability
• Innovation in packaging formats and designs to enhance convenience
• Development of sustainable and eco-friendly canning practices
• Growing popularity of ready-to-eat seafood products, such as seasoned tuna and salmon

Growth Catalysts in Canned Seafood Industry

• Strategic partnerships and collaborations between manufacturers and retailers
• Government initiatives to promote sustainable seafood consumption
• Rising consumer awareness of the environmental impact of seafood choices
• Increased investment in research and development to improve product quality

Market Segmentation: Canned Seafood Analysis

Species:

• Tuna
• Salmon
• Sardines
• Mackerel
• Others (herring, squid, mussels)

Distribution Channel:

• HoReCa (hotels, restaurants, and catering)
• Retail [Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Retail, and Others]

Leading Players in the Canned Seafood Market

• Nippon Suisan Kaisha, Ltd (Japan)
• LDH (La Doria) Ltd (U.K.)
• American Tuna, Inc. (U.S.)
• Universal Canning, Inc. (Philippines)
• Connors Bros. Ltd. (Brunswick Seafoods) (Canada)
• Nueva Pescanova (Spain)
• Marine Harvest ASA (Norway)
• Thai Union Frozen Products (Thailand)
• Royal Greenland (Greenland)
• StarKist Co. (U.S.)

Significant developments in Canned Seafood Sector

• July 2023 – Wild Planet Foods announces its new sustainable fish catch for use in Whole Foods Market products.
• March 2023 – Natural Grocers launches a new line of canned seafood, including albacore, wild pink salmon, and sardines.
• October 2022 – Scout secures USD 4 million in funding to invest in its omni-channel strategy and operational expansion.

Comprehensive Coverage Canned Seafood Market Report

• Regional Insight
• Consumer Side Analysis
• DROCs (Drivers, Restraints, Opportunities, and Challenges)
• SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats)

Regional Insight

• Asia-Pacific continues to dominate the market, driven by the high consumption of canned seafood in China, India, and Southeast Asia.
• North America and Europe remain mature markets, with a growing emphasis on premium and sustainable canned seafood products.
• South America and Africa are emerging markets with significant growth potential due to increasing purchasing power, urbanization, and expanding consumer awareness of the health benefits of seafood.

Consumer Side Analysis

• Canned seafood is primarily consumed by adults aged 25-54 with a preference for convenient and nutritious options.
• Health-conscious consumers seek products that are low in sodium, fat, and preservatives.
• Consumers are becoming increasingly environmentally conscious and favor sustainable seafood options.

DROCs

Drivers:

• Increasing consumer demand for convenient and shelf-stable seafood
• Rising health consciousness among consumers, driving the demand for nutritious and sustainable seafood options
• Global population growth and increasing urbanization, leading to a higher demand for accessible and convenient food sources

Restraints:

• Fluctuations in raw material availability and price volatility
• Ongoing concerns about food safety and quality, including the risk of contamination and spoilage
• Competition from alternative seafood products, such as frozen, fresh, and ready-to-eat seafood options

Opportunities:

• Premiumization of canned seafood products, catering to consumers seeking high-quality and gourmet options
• Innovation in packaging formats and designs, improving functionality and sustainability
• Development and promotion of sustainable and eco-friendly canning practices, aligning with consumer demand for environmentally responsible food choices

SWOT Analysis

Strengths:

• Convenient and shelf-stable
• Nutritious and affordable
• Wide variety of species and flavors

Weaknesses:

• Concerns over food safety and quality
• Environmental sustainability issues
• Limited product innovation

Opportunities:

• Premiumization and innovation in canned seafood products
• Expansion into emerging markets
• Sustainable and eco-friendly practices

Threats:

• Competition from alternative seafood products
• Fluctuations in raw material prices
• Environmental regulations