The global canned seafood products market was valued at USD 6.3 billion in 2022 and is projected to expand at a CAGR of 6.0% from 2023 to 2030. The growth of the market is mainly attributed to the increasing demand for convenient food and the health benefits associated with canned seafood products. Canned seafood products are gaining popularity due to their convenience and a longer shelf life. Additionally, the market is driven by the increasing demand for ready-to-eat and healthy foods, as well as the growing preference for seafood among consumers.

Furthermore, the rising popularity of canned seafood products such as tuna, salmon, and shellfish, among others, has been augmenting market growth. As a result, market players are focusing on launching innovative products to gain a competitive edge. For instance, in April 2021, Crown Prince launched a new range of wild-caught, sustainably sourced canned seafood products, including tuna, sardines, salmon, and mackerel.

The rising demand for convenience and ready-to-eat products has resulted in a shift toward canned seafood products. Furthermore, the health benefits associated with seafood, such as omega-3 fatty acids, vitamins, minerals, and other nutrients, are prompting consumers to shift to canned seafood products. Additionally, the growing demand for healthy and nutritious food among consumers is expected to propel the market growth.

Furthermore, the growing demand for seafood from developing countries, such as China and India, is expected to create potential opportunities for market players. In these countries, the demand for seafood is increasing due to rising awareness about the health benefits of seafood. The growth of the retail sector in these countries is also expected to increase the demand for canned seafood products.

Moreover, the rising trend of health consciousness and the growing preference for seafood among consumers are expected to further drive the market growth. Additionally, the increasing number of online stores providing various offers and discounts on canned seafood products is expected to boost online sales. This, in turn, is expected to propel the growth of the global canned seafood products market.

The tuna segment accounted for the highest market share in 2021 and is anticipated to maintain its dominance over the forecast period. Increasing global demand for canned tuna as it is an affordable and healthy source of protein is driving the growth of the segment. According to an article published by the Food Foundation, in February 2021, tuna accounted for the highest share of canned fish sales in the UK, with 68% of all canned fish sales. Furthermore, the growing demand for convenience food, increasing health consciousness among consumers, and the emergence of various retail channels are expected to drive the segment’s growth.

The salmon segment is anticipated to register the highest CAGR of 7.2% over the forecast period. Growing demand for canned salmon in Europe due to its high nutritional value and rich flavor is driving the segment’s growth. According to an article published by the North Carolina Sea Grant, in November 2020, canned salmon is one of the most popular seafood items in Europe. Growing health concerns among consumers and the emergence of various retail channels are also contributing to the growth of the segment.

The supermarkets and hypermarkets segment is expected to hold the largest market share of over 40% in 2022. The growth of the segment is driven by the increasing consumer preference for supermarkets and hypermarkets as a primary source to purchase canned seafood products. According to a study conducted by the National Fisheries Institute in 2020, supermarkets and hypermarkets offer a wide selection of canned seafood products, which help customers in making the right purchasing decisions. Moreover, these establishments provide customers with better pricing and convenience of shopping.

The online segment is anticipated to expand at the highest CAGR of 11.5% over the forecast period. The growth of the segment is mainly driven by the rising number of online retailers offering canned seafood products. These retailers provide customers with a wide range of products at competitive prices and also offer discounts on bulk orders. In addition, the rising adoption of mobile technologies and increasing penetration of the internet in developing countries is also expected to drive the growth of the segment.

The canned tuna segment accounted for the largest revenue share of 38.4% in the year 2022. The increasing demand for canned tuna as a convenient, nutritious, and cost-effective food is driving the segment’s growth. Canned tuna is a high-protein food with minerals and is a good source of selenium, vitamin B12, and omega-3 fatty acids. It is widely available in supermarkets and can be used in various dishes such as salads, sandwiches, and casseroles. Moreover, the increasing demand for ready-to-eat seafood, along with the changing lifestyle of consumers, is propelling the demand for canned tuna.

The canned salmon segment is projected to register the highest growth rate of 6.3% over the forecast period. The increasing health awareness of consumers and the growing demand for proteins is propelling the demand for canned salmon. Canned salmon is a convenient food, providing a good source of protein and long shelf life. It is a good source of omega-3 fatty acids, which helps reduce the risk of cardiovascular diseases. The availability of canned salmon in supermarkets, convenience stores, and online stores is increasing its demand among consumers.

Europe is expected to dominate the market and account for the largest revenue share of over 38.6% in 2022. This is attributed to the increasing consumption of canned seafood products in the region, coupled with the presence of several market players. For instance, in August 2021, Dutch canned seafood firm Van Wijnen launched a new range of canned seafood products in four European countries, including the UK, Sweden, Finland, and Norway.

Asia Pacific is expected to witness the second-fastest growth in the coming years. This is attributed to the growing consumer demand for convenience food products and the increasing disposable income of the population in the region. Moreover, the presence of key manufacturers such as Thai Union Group, Nippon Suisan Kaisha, and Dongwon Industries is expected to further drive the market growth in the coming years. For instance, in April 2022, Thai Union Group launched a new range of canned seafood products in China.

In this part of the canned seafood products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a canned seafood products business comes from sales of canned seafood products, as well as from services such as packaging, labeling and distribution. Depending on the type of product, other potential sources of profit can come from online sales and wholesale orders.

Projecting Expenses
In this section, all the regular expenses related to keeping the canned seafood products business running will be described. The list of operating expenses includes purchasing of raw materials, labor, utilities, packaging materials, insurance policies, advertising, and others.

Some of the key companies operating in the canned seafood market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Bumble Bee Foods LLC launched a new line of canned salmon and tuna products.

– In August 2022, Thai Union Group launched a new line of canned tuna products, which are made with high-quality ingredients and contain no added preservatives.

– In October 2022, Starkist Co. launched a new line of canned mackerel products, which are made with natural ingredients and contain no artificial flavors or preservatives.

Some of the prominent players in the canned seafood market include:

– Thai Union Group
– Bumble Bee Foods LLC
– Starkist Co.
– Tri Marine Group
– Dongwon Group
– Sea Gold Seafood Co.
– High Liner Foods Inc.
– Pacific Seafood Group
– Trident Seafoods Corporation
– American Seafoods Group LLC

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the Global Canned Seafood Products market based on type, distribution channel, product, and region:

1. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Tuna
– Salmon
– Shrimp
– Mackerel
– Other Canned Fish

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Shelf Stable
– Refrigerated

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Outlook for Canned Seafood Products?
[A]: The global canned seafood products market is expected to grow at a steady rate during the forecast period. The increasing demand for convenience food and the rising health awareness are expected to drive the market growth. Moreover, rising disposable income and changing dietary preferences are expected to fuel the global canned seafood products market.

[Q]: Who are the Leading Players in the Canned Seafood Products Market?
[A]: Major players in the canned seafood products market include Bumble Bee Foods, LLC, High Liner Foods, Marine Harvest ASA, Thai Union Group, Pescanova SA, Agromarina SA, Austevoll Seafood ASA, Nippon Suisan Kaisha, Ltd., and Dongwon Industries Co., Ltd.

[Q]: What is the Potential of Organic and Natural Canned Seafood Products?
[A]: There is a growing demand for organic and natural canned seafood products due to the increasing health awareness among consumers. Consumers are opting for organic and natural canned seafood products due to the health benefits associated with them. This is expected to drive the market growth of organic and natural canned seafood products.

[Q]: What are the Factors Driving the Global Canned Seafood Products Market?
[A]: Factors such as the rise in health consciousness, increasing availability of canned seafood products, and the convenience associated with canned seafood products are expected to drive the global canned seafood products market. Moreover, the increasing demand for ready-to-eat products among consumers is also likely to boost the market growth.