Diving into Success: Unveiling the Explosive Growth of the Canned Salmon Market to Reach $9.2 Billion by 2032 and How Manufacturers are Leading the Way

The canned salmon market is expected to witness growth at a CAGR of 6.8%, reaching a valuation of US$ 9.2 Billion by 2032.

Salmon byproducts are used by manufacturers in a wide range of goods, including as pet food, animal feed, and as a fat absorber in the meat and confectionary industries. These programmes enable the most effective use of resources while also helping manufacturers reduce waste.

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By selling goods that utilise the resources made accessible by the production of the company's main product, the producers increase the revenue of the business. Pet food is also produced by Thai Union Group, Pataya Food Industries, Alaska Seafood Company, and other significant seafood businesses.

The market for canned salmon is expected to increase significantly as more companies invest in online retail platforms to reach out to more customers in line with the expanding trend of online shopping. Consumers find the online retail model convenient, and as more emerging economies go digital, the sector will expand even more.

East Asia is expected to witness surge in demand for canned salmons due to less stringent policies in addition to rising population and changes in consumer spending patterns. Owing to these factors, demand for canned salmons is expected to rise in the near future.

"Manufacturers are offering a wide range of flavors and forms of canned salmon, which in turn will augment the growth in the market. In addition to this, rising adoption of sustainable practices for aquaculture will drive sales in the forthcoming years," says an FMI analyst.  

Key Takeaways:

Based on source, sales in the farmed fish segment will increase at a 5.6% CAGR over the forecast period.
In terms of species, demand for pacific species will grow at a 6.9% CAGR through 2032.
By sales channel, the indirect segment is projected to expand at a 7% CAGR over the forecast period.
Total sales of canned salmon in the U.S. market will reach a valuation of US$ 775.8 Mn in 2022.
Thailand will emerge as a lucrative pocket, accounting for 30% of the South Asia canned salmon market share in 2022.

Competitive Landscape

Key canned salmon producers are working on research and development in order to offer a variety of goods that do not include any chemical additives. To enter untapped market, leading players are partnering and developing new product lines. For instance:

Thai Union Group plans to launch Plant based products comprising both seafood and non-seafood in Asia Pacific region in 2021.
Subsidiary of Thai Union Group, John West Foods Ltd. has unveiled a Salmon Fridge Pot in 2021 in a bid to attract younger consumers and make the tinned salmon category more relevant to consumers.

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Canned Salmon Market By Category

By Source:

Wild
Farmed

By Species:

Atlantic
Pacific
Pink
Sockeye
Coho
Chum
Chinook

By Form:

Skinless Boneless
Chunks
Fillets

By Category:

Smoked Fish- In Oil/ Deep Fried
Smoked Fish- Steamed
Conventional/ Traditional

By Sales Channel:

Direct Sales
Indirect Sales
Modern Trade
Convenience Stores
Specialty Food Stores
Wholesale Stores
Discount Stores
Online Retail
Other Retail Formats

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https://www.futuremarketinsights.com/reports/united-states-pet-food-market

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https://www.futuremarketinsights.com/reports/fortified-food-market 

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global canned seafood market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on  Source (Wild and Farmed), By Form (Skinless/ Boneless, Chunks, and Fillets), Category (Smoked Fish- In Oil/ Deep Fried, Smoked Fish- Steamed, and Conventional/ Traditional), Species (Atlantic and Pacific), Sales Channel (Direct Sales and Indirect Sales), & Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.