The global tinned fish and seafood market is forecast to grow at a CAGR of 3.6% from 2018 to 2028. The demand for tinned fish and seafood has been growing in the last few years due to their convenience and affordability when compared with fresh fish or meat products. Demand for these products is also being driven by increasing consumption of ready-to-eat meals among consumers worldwide as well as health benefits associated with it such as increased protein intake which helps maintain lean muscle mass and reduces the risk of obesity.
Cooked product of seafood or fish that is packed in airtight tins. It can be cooked by the consumption of heat, such as cooking with steam; it does not need to be reheated before being eaten. Tinned Fish and Seafood is a prepared food product consisting of fish or seafood, with the exception of any products that are cured in oil. It includes all canned seafood (e.g., tuna, salmon) as well as tinned crustaceans and mollusks (e.g., sardines). The tinned fish market encompasses all types of products including tuna (fresh), salmon (raw/frozen) sardines other fish prawns shrimp other seafood, etc. The demand for canned foods has increased due to their convenience and safety.
On the basis of type, the global tinned fish and seafood market is segmented into tuna, salmon, sardines, and other fish.
Tuna is a saltwater fish belonging to the Scombridae family which can be found in both deep and shallow waters all over the world. Due to its high nutritional value, tuna has been consumed by humans since prehistoric times; it was first canned around 1911. Today's most popular varieties of tuna include Albacore, Big-eye, Bluefin, Skipjack, Yellowfin, and Southern bluefin.
Throughout the world, canned tuna is one of the most popular seafood and it has a variety of applications in different types of food products. It can be found in form of chunks or as cooked meat; furthermore, there are various preservatives such as oil, water, surimi, vegetable broth, and salt. The main producers for this type include Thailand, Vietnam, Indonesia, and China. These countries export their product to other parts of the Asia Pacific region mainly Singapore and Malaysia. Some companies which import tinned fish from these countries to Europe are Heinz (UK), Unilever (Netherlands), and Nestle (Switzerland).
Salmon is both an ocean-going and freshwater fish. The worldwide production of salmon is more than 11 million tons and it has been increasing steadily during the past few years due to its high demand in the Asia Pacific region with a large population base. Salmon products such as canned or smoked can be found on supermarket shelves, mainly throughout Australia, Japan, Korea, and Singapore. A significant part of this market goes through Thailand which exports its product to Laos, Indonesia, and China. There are other countries also exporting these types; for instance Philippines (to Malaysia), India (mainly Nepal).
Sardines are small oily fishes belonging to the herring family. As they live near coasts, sardine fishing gear consists mostly of nets or purse seines. Sardine markets are almost exclusively in Mediterranean and Black Sea countries, with the largest producers being Spain, Greece, and France. The main consumers of sardine products come from Italy, Portugal, Morocco, Tunisia, and Algeria.
Spain is the leading exporter to the USA followed by Mexico, Chile, Peru.Turkey imports only canned fish (sardines). The consumption of fresh sardines is rare but they can be found along coasts in Europe as an alternative source for a daily omega-three intake.
On the basis of application, the global tinned fish and seafood market is segmented into residential, commercial, others.
The residential application of tinned fish and seafood is the use of tinned fish as a source of protein for people who do not have or cannot afford access to fresh sources. This group includes old-age homes, low-income households with children, hospitals, etc. Residential applications accounted for the highest share of total demand in 2017. The growing popularity of processed food products among consumers may result in increased demand for canned fish and seafood marketed as convenient snacks or ingredients in recipes.
The commercial application of tinned fish and seafood is the use of canned products as food for people in restaurants, hotels, etc. Commercial applications include small-scale canners such as restaurants to large-scale processors like supermarkets which need mass distribution through a chain of retailers. Rising demands from fast-food chains coupled with high adoption rates of convenience foods will propel the growth of this sector over the coming years. Other application includes other uses such as exports mainly to Asian countries including Japan, China, and South Korea where there are cultural preferences for consuming fresh tuna but also Thailand that imports frozen salmon.
On the basis of region, the global tinned fish and seafood market is segmented into North America, Europe, Asia Pacific, and Middle East & Africa. North American is the biggest market for tinned fish in terms of revenue as it accounted for more than 50% share value in 2017, owing to a large population base and high per capita consumption levels.
In China, the tinned fish and seafood market is forecast to grow at a CAGR of 13.39% during 2018-2028; North America will continue to be the largest regional market for Tinned Fish & Seafood in terms of revenue. The region also has high per capita consumption levels compared with other regions across the Asia Pacific, Europe, Middle East & Africa as well as Latin America.
There are a number of factors that drive the growth of the tinned fish and seafood market. Population, per capita income, and macroeconomic conditions are some key drivers for this industry. Additionally, consumers' preference for convenience food is one such factor that has led to an increase in demand for processed foods or canned fish products. Further, as people become more health conscious they also prefer eating healthier packaged food items such as canned tuna than fresh ones. This trend will help boost the global tinned fish and seafood market over the forecast period (2019-2028).
Up Market Research published a new report titled “Tinned Fish amp Seafood Market research report which is segmented by Types (Tuna, Salmon, Sardines, Other fish, Prawns, Shrimps, Other seafood), By Applications (Residential, Commercial, Others), By Players/Companies Austevoll Seafood ASA, Thai Union Frozen Products, Bumble Bee Seafoods, StarKist, Wild Planet Foods, Trident seafood, Connors Bros”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Tinned Fish amp Seafood Market Research Report|
|By Type||Tuna, Salmon, Sardines, Other fish, Prawns, Shrimps, Other seafood|
|By Application||Residential, Commercial, Others|
|By Companies||Austevoll Seafood ASA, Thai Union Frozen Products, Bumble Bee Seafoods, StarKist, Wild Planet Foods, Trident seafood, Connors Bros|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||237|
|Number of Tables & Figures||166|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Tuna, Salmon, Sardines, Other fish, Prawns, Shrimps, Other seafood and By Application Residential, Commercial, Others.
Some of the companies that are profiled in this report are:
Tinned Fish amp Seafood Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Tinned Fish amp Seafood Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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