Canned fish are processed foods sealed in a tight container to preserve its shelf life. Preservation techniques are used to prevent spoilage bacteria which produce bad odors associated with fish. Health benefits associated with canned food such as improved immunity, improved eyesight, and better bone strength are expected to influence consumer tastes.
Concerns of high mercury levels within such foods have led to regulatory agencies placing certain seafood on a blacklist for consumption. In light of this, certain companies are developing analysis methods to detect high mercury levels in fish and protect consumers from food poisoning. In February 2018, Safe Catch managed to raise USD 5 million from private investors to weed out contaminated fish through its rigorous testing methods and launch a new line of canned seafood items for public consumption.
Immunity-Enhancing Food
Tuna, salmon, sardines, prawns, shrimp, other fish, and other seafood are product segments in the canned seafood market.
The canned tuna segment is expected to account for 47.5% of the market by 2025 owing to its high protein content and other nutrients that purportedly improve the immune system. High production of canned tuna in Asia Pacific and high use of the product in making packaged meal mixes, casseroles, and salads in the U.S. are factors expected to augur demand of the segment.
The canned sardines segment is projected to exhibit a 5% CAGR revenue-wise from 2017 to 2025 due to health benefits of the product and availability on ecommerce stores. Marketing campaigns by local players to change customer tastes in domestic markets is expected to boost segment growth.
Market Insights
The global canned seafood market is anticipated to reach a valuation of USD 27.8 billion by 2025, according to a report by Grand View Research, Inc. It is expected to exhibit a 3.2% CAGR from 2017 to 2025 due to high demand for exotic fish by consumers. Rising demand for processed seafood is predicted to drive market growth from 2014 to 2025 (forecast period).
Health benefits of seafoods, expendable income of consumers, and changing cooking habits are factors projected to influence market demand. Government policies eliminating tariffs on fish in Vietnam, Indonesia, and Japan is anticipated to act as a fillip to market growth. Key market players include Wild Planet Foods Inc.; Thai Union Frozen Products; Bumble Bee Foods, LLC; and American Tuna, Inc.
In-Depth Research Report On Canned Seafood Market:
https://www.grandviewresearch.com/industry-analysis/canned-seafood-market
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