Canned Seafood Market Outlook Set to Reach $47.47 Billion by 2029 with 6% Yearly Growth

What market dynamics are playing a key role in accelerating the growth of the canned seafood market?
The escalating incidences of health issues such as heart disease and diabetes are projected to fuel the expansion of the canned seafood market. Heart disease encompasses conditions impacting the heart or blood vessels, like coronary artery disease, congestive heart failure, heart rhythm issues, among others. Canned seafood, being a rich provider of omega-3 fatty acids, delivers health advantages such as anti-inflammatory benefits, decreased triglycerides, slightly lowered blood pressure, reduced blood clotting, diminished risk of strokes and heart failure, and lower irregular heartbeats, all linked with chronic diseases, including heart disease and diabetes. As per the data published by the British Heart Foundation in September 2024, a cardiovascular research charity based in the UK, around 7.6 million people in the UK are affected by heart and circulatory diseases, including approximately 4 million men and 3.6 million women. These diseases account for about 27% of all deaths in the UK, equating to over 170,000 deaths annually, or roughly 480 deaths per day, signifying one death every three minutes. Furthermore, according to the National Health Service's latest National Diabetes Audit in June 2024, about 3,615,330 individuals registered with a GP were identified with non-diabetic hyperglycaemia, known as pre-diabetes, in 2023, an increase from 3,065,825 in 2022. Consequently, the escalating incidences of health issues like heart disease and diabetes stimulate the expansion of the canned seafood market.

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How will the growth rate of the canned seafood market shape industry trends by 2034?
There has been significant growth in the canned seafood market size in the past few years. The market is projected to increase from $35.27 billion in 2024 to $37.2 billion in 2025, with a compound annual growth rate (CAGR) of 5.5%. Factors such as the globalization of cuisine, enhanced health benefits, urbanization, hectic schedules, growing disposable income, and global trade are responsible for the growth observed during the historic period.

The market for canned seafood is projected to experience a significant upswing in the coming years, reaching a value of "$47.47 billion in 2029 with a compound annual growth rate (CAGR) of 6.3%. The market growth during the forecast period can be attributed to practices promoting sustainability, the clean label movement, growth of e-commerce, premium product offerings, plant-based substitutes, and regulatory adherence. Key trends during this forecast period are expected to be innovative packaging, introduction of new flavors, ready-to-eat product options, customization and personalization, and cultural influences.

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What trends are poised to drive the future success of the canned seafood market?
The increasing prominence of product innovation is a notable trend visible in the canned seafood market. Major players in the market are focusing their efforts towards the development of innovative products, in order to consolidate their presence in the market. An example of this was seen in July 2023, when Wild Planet Foods, a company based in the US known for their canned seafood, introduced a range of new sustainably caught seafood products. These included the Skipjack Solid Light Wild Tuna in Pure Olive Oil, a pole and line caught seafood product that is also hand-cut, packed with sea salt and olive oil, offering a rich flavor of tuna and a silky texture, while maintaining a low mercury content. They also introduced the Wild Smoked Pink Salmon in Extra Virgin Olive Oil, a product sourced from the Northeast Pacific, smoked with alder wood to impart a smoky, sweet flavor, making it a suitable topping for bagels and other snacks. The Wild Smoked Mackerel Fillets in Extra Virgin Olive Oil were hand-packed after being sustainably sourced from places like the North Atlantic and Eastern Pacific in order to provide an excellent taste with olive oil and sea salt. Their Wild Pink Salmon 3-Pack features skinless and boneless salmon sourced from small-scale fishing operations in Alaska and British Columbia, offering an ideal ingredient for quick salads or other seafood dishes. Finally, the Wild Tuna Quinoa Salad Ready-To-Eat Meal is a combination of skipjack tuna with organic quinoa, sweetcorn, zucchini, and peas, offering a nutritious, ready-to-eat option for individuals seeking both convenience and sustainability.

Which primary segments of the canned seafood market are driving growth and industry transformations?
The canned seafood market covered in this report is segmented -

1) By Type: Canned Fish, Canned Mollusks, Canned Crustaceans, Canned Cephalopods
2) By Distribution channel: Hyper markets and Super markets, Convenience stores, Independent grocery stores, Specialty stores, Online retail
3) By End User: Households, Commercial

Subsegments:
1) By Canned Fish: Tuna, Salmon, Sardines, Mackerel, Anchovies
2) By Canned Mollusks: Clams, Oysters, Scallops, Mussels
3) By Canned Crustaceans: Shrimp, Crab, Lobster, Prawns
4) By Canned Cephalopods: Squid, Octopus, Cuttlefish

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Which geographical regions are pioneering growth in the canned seafood market?
Europe was the largest region in the canned seafood market in 2024. South America is expected to be the fastest-growing region in the global canned seafood market during the forecast period. The regions covered in the canned seafood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the influential players reshaping the canned seafood market landscape?
Major companies operating in the canned seafood market include StarKist Co., Maruha Nichiro Corporation, Wild Planet Foods Inc., Trident Seafoods Corporation, Connors Brothers Limited, Thai Union Group, Bumble Bee Foods LLC, Dongwon Food Co. Ltd., Nissui Corporation, American Tuna Inc., Universal Canning Incorporated, Tri Marine Group, Mowi ASA, Sajo Industries Co. Ltd., Nueva Pescanova S.L, Royal Greenland A/S, The Calvo Group, Austevoll Seafood ASA, Marine Harvest ASA, Nippon Suisan Kaisha Ltd., Century Pacific Food Inc., Bolton Group, OKAM, John West Foods, Clover Leaf Seafoods Company, Brunswick Seafood, Chicken of the Sea, Empresas Aquachile SA, Gomes da Costa, Empress International Ltd.

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What Is Covered In The Canned Seafood Global Market Report?

• Market Size Forecast: Examine the canned seafood market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the canned seafood market for a structured understanding.
• Key Players Overview: Analyze major players in the canned seafood market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the canned seafood market.
• Segment Contributions: Evaluate how different segments drive overall growth in the canned seafood market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the canned seafood market.
• Industry Challenges: Identify potential risks and obstacles affecting the canned seafood market.
• Competitive Landscape: Review strategic developments in the canned seafood market, including expansions, agreements, and new product launches.

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