Canned Seafood – A Must-have for Health-conscious Consumers

Canned fish are processed seafood products sealed in a tight container to preserve its shelf life. Preservation techniques are used to prevent spoilage bacteria, which produce bad odors. Tuna, salmon, sardines, prawns, shrimp, and several other seafood are the common products. Health benefits associated with canned seafood, such as improved immunity, improved eyesight, and better bone strength, are expected to influence the product demand.

Concerns regarding high mercury levels in some of such foods have led to regulatory agencies placing certain seafood on a blacklist for consumption. In light of this, many companies are developing analysis methods to detect high mercury levels in fish and protect consumers from food poisoning. For example, 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.

Canned Tune: The Highest Revenue-generating Product Segment

The canned tuna segment is expected to account for 47.5% of the market share by 2025 owing to its high protein content and other nutrients that purportedly strengthen the immune system. High production of canned tuna in Asia Pacific and high use of it in preparing packaged meal mixes, casseroles, and salads in U.S. are the key factors driving the segment growth.

The canned sardines segment is projected to exhibit a CAGR of 5% over the forecast period (from 2018 to 2025) due to its health benefits and easy availability on ecommerce stores. Marketing campaigns by local companies to change customer tastes is also expected to boost the segment growth in the coming years.

Market Insights

The global canned seafood market is anticipated to reach at USD 27.8 billion by 2025, according to a report by Grand View Research, Inc. It is expected to exhibit a CAGR of 3.2% from 2018 to 2025 due to high demand processed seafood and exotic seafood products. In addition, awareness regarding health benefits associated with seafood along with rising consumer disposable income is projected to have a positive impact on market demand.

Government policies eliminating tariffs on fish in countries such as Vietnam, Indonesia, and Japan are also anticipated to fuel market growth. Some of the 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

Functional Ingredients to Offer Healthy & Nutritious Food Products

Growing necessity for food of high-nutritive value owing to rising health concerns is anticipated to spur demand for functional ingredients. These natural ingredients possess disease preventing, health promoting, and energy boosting properties. Rising focus on reinforcement of food products with minerals, vitamins, etc. is also augmenting their demand across the globe. Major product variants of functional ingredients are polydextrose, rice protein, maltodextrin, pectin, probiotics, modified starch, omega-3, omega-6, Conjugated Linoleic Acid (CLA), and protein hydrolysate.

Rice Protein to be the Fastest-growing Product Segment

Rice protein segment is likely to contribute for the maximum revenue generation over the forecast period (from 2018 to 2026). This growth is attributed to the health benefits of rice proteins. These proteins can be derived from white, as well as brown, rice. High nutritive value of rice protein is likely to spur its demand over whey and soy protein. Considering the rising demand, most F&B companies are introducing new products that are rich in rice protein. For instance, Dough Bar recently launched Crispy Bars containing 15 grams of protein and 9 grams of fiber. Available in chocolate and original flavors, the new healthy snack is vegan, gluten-, and soy-free.

Market Overview

The global functional ingredients market is likely to value USD 96.1 billion by 2026, according to a report by Grand View Research, Inc. Shifting focus on the reinforcement of food products with vitamins, minerals, and herbal extracts can spur market growth in the coming years. Increasing disposable income coupled with growing number of urban residents can foster market growth. Growing efforts to develop favorable environment for the incorporation of functional ingredients in foods and beverages would also impel growth of this market in the coming years.

Increasing adoption of healthy and high-nutritive value food owing to rising health awareness is expected to propel market growth. Some of the prominent companies operating in the market for functional ingredients are Golden Grain Group Limited, FMC Corporation, Omega Protein Corporation, Ingredion Incorporated, and NutriBiotic.

In-Depth Research Report On Functional Ingredients Market:

https://www.grandviewresearch.com/industry-analysis/functional-ingredients-market

Craft Spirits: For Enhanced Taste and Flavor

Craft sprits are created by licensed and independent distilleries that have a production volume of less than 750,000 gallons. Depending on production capacity, these distilleries are categorized into small-, medium- and large-sized.

Innovative Products with Special Ingredients

Craft spirits are broadly segmented on the basis of products such as whiskey, gin, vodka, rum, brandy, and liqueur. In 2016, whiskey accounted for the largest market share of 42.5% of overall industry and is also expected to witness maximum demand throughout forecast period (from 2018 to 2025). Increasing consumer demand for flavored whiskey blended using special ingredients is likely to boost segment over the coming years.

These ingredients may include regional botanicals, spices, herbs, and others. For instance, Whyte & Mackay, manufacturer of Scotch whisky recently developed a scotch whisky called Shackleton, which is formed using blended malt. The malts are placed for extended period in an amalgamation of Spanish Sherry butts and ex-bourbon American white oak barrels to match flavors. The whiskey is available in many flavors such as vanilla, ginger, honey, and liquorice.

Gin segment is expected to show a rapid growth during the forecast period due to increasing consumer demand. Rising use of the product in cocktails can drive the segment. Distilleries are using strategic approaches to use unconventional ingredients, like orange peels, lemon, saffron, grape, anise, cinnamon, and different spices, to improve taste and flavor of the product.

Market Overview

According to a report by Grand View Research, Inc., the worldwide craft spirits market is likely to reach USD 80.43 billion by 2025. Increasing consumer demand for authentic and quality drinks with special tastes and essence can drive the market. Growing target population base across the globe along with increased consumer disposable income levels will boost the product demand.

Geographically, North America accounted for over 53% of total revenue in 2016 due to favorable government policies and strong presence of several craft spirits makers in this region. Some of the key companies in the market include Anchor Brewers & Distillers LLC, William Grant & Sons Ltd., Pernod Ricard, Rogue Ales, and Diageo plc.

In-Depth Research Report On Craft Spirits Market:

https://www.grandviewresearch.com/industry-analysis/craft-spirits-market