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
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