Fish has a low acidity level and requires sterilization under high temperatures. Canning is a process of preserving food and extending shelf-life of canned seafood. Canned fish is commonly used in salads, burgers, and other dishes.
Increasing canned seafood product consumption due to its health benefits and longer shelf life is expected to drive growth of the global canned seafood market over the forecast period.
However, illegal overfishing and changing climatic conditions are factors expected to hamper growth of the market in the near future.
On the basis of product, the market is segmented into tuna, salmon, sardines, other fish, prawns, shrimps, and other seafood. Canned tuna segment is accounted for highest CAGR, owing to its special properties like high source of lean proteins. In addition, nutrients offered by the product like omega 3 fatty acid improve personal health and the advantages of the product such as reduced blood pressure, improved immune system, reduced depression, and strengthened bones are expected to increase consumption of canned tuna seafood. Moreover, tuna seafood products help in weight loss and preventing cancer. Canned shrimp segment is expected to grow significantly over the forecast period, owing to products provides low-fact contents and easily digestible contents.
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Based on the region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is estimated to be the highest share in terms of revenue over the forecast period, owing to increasing awareness regarding the benefits of canned seafood products, increasing demand for healthy seafood in countries in this region. The market in North America is expected to register highest CAGR in terms of revenue, owing to increasing technological innovations, adoption of eco-friendly packaging technologies by manufacturers, and high consumption of canned seafood among high-end restaurants, hotels, and in various industries in this region.
Key players operating in the global canned seafood market include Bumble Bee Foods, LLC., StarKist Co., Wild Planet Foods Inc., Connors Bros., Limited, Trident Seafoods Corporation, Beijing Princess Seafood International Trading Co.,Ltd., Dong Won Fisheries Co., Ltd., P/F Faroe Seafood, Findus Group Limited, and Hansung Enterprise Co., Ltd.