Canned Anchovy Market Forecast 2025 to 2035: Growth Trajectory with Ortiz Conservas (Ortiz), Delicius Rizzoli S.p.A. (Delicius, Rizzoli Emanuelli), Grupo Consorcio (Consorcio), Agromar S.A., Calvo Group (Calvo, Nostromo)

The global canned anchovy market is poised for significant expansion, with a projected valuation of USD 11.4 billion by 2035, growing from USD 8.1 billion in 2025 at a Compound Annual Growth Rate (CAGR) of 3.5%. This optimistic outlook, according to recent canned seafood projections, underscores the increasing consumer appetite for convenient, protein-rich, and flavorful seafood options.

The market's upward trajectory is primarily fueled by a rising interest in omega-3 rich marine proteins and the enduring appeal of shelf-stable seafood staples. While the industry holds a niche share within broader markets-accounting for approximately 1-2% of the total seafood market, 3-5% of the canned food market, 2-3% of the preserved food market, 4-6% of the fish and seafood processing market, and 1-2% of the overall food and beverage market-its consistent growth highlights its specialized yet impactful role.

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Key Market Segments Driving Growth:

Analysis of top investment segments reveals clear consumer preferences and industry drivers:

• Canned Anchovies in Olive Oil Lead Product Type (34.6% Share): In 2025, canned anchovies packed in olive oil are set to dominate the product segment, capturing 34.6% of the industry share. The smooth, rich flavor and enhanced texture imparted by olive oil make this variant highly preferred for its versatility in Mediterranean cuisine, salads, and pastas, appealing to both retail and foodservice sectors.
• Wild-Caught Anchovies Dominate Source (87.2% Share): Consumers prioritize natural taste and sustainable sourcing, positioning wild-caught anchovies to command a significant 87.2% of the source segment in 2025. This preference is driven by the authentic flavor profile and adherence to higher sustainability standards associated with wild-caught products.
• Retail (Consumer Use) Leads End-Use (53.5% Share): The convenience and ready-to-eat nature of canned anchovies make retail (consumer use) the largest end-use segment, projected to hold 53.5% of the industry share in 2025. Accessibility through supermarkets, grocery stores, and online platforms, coupled with the growing popularity of Mediterranean and healthy diets, underpins this dominance.

Market Dynamics and Regional Insights:

The market's growth is supported by a global shift towards health-conscious eating and the increasing adoption of Mediterranean culinary trends. However, supply-side risks such as overfishing and environmental concerns, particularly in key sourcing regions like Morocco and Spain, present ongoing challenges. Value-added offerings, including flavored marinades and BPA-free packaging, are emerging as key differentiators for premium brands, though cost-sensitive segments may resist price premiums.

Geographically, the Asia Pacific region, particularly Japan, is a key growth driver, with a projected CAGR of 3.5% from 2025 to 2035. South Korea (3.4% CAGR) and Australia (3.3% CAGR) also show strong growth, reflecting increasing demand for canned seafood products aligned with local dietary preferences. More mature markets like the United States and Germany are expected to grow at a steady 2.6% CAGR, driven by established consumption patterns and industry saturation.

United States: Growth is fueled by rising use in gourmet cooking and restaurant chains promoting Mediterranean dishes, with anchovies positioned as a protein-dense topping. The market relies heavily on imports from Spain and Morocco, contributing to premium pricing.

Germany: Anchovies are integrated into savory bakery products, pasta sauces, and antipasti. German consumers show a preference for low-salt and MSC-certified imports, reflecting a focus on sustainability.

Japan: Consumption is driven by the inclusion of anchovies in fusion pasta dishes and izakaya-style appetizers, with premium imports appealing to younger, globally oriented consumers.

Australia: Demand is influenced by Mediterranean culinary trends and the use of anchovies in gourmet sandwiches, pizzas, and salad dressings, with a strong emphasis on sustainable sourcing and transparency.

South Korea: Traditionally used in dried form, canned anchovies are gaining favor in Western-style cooking and fusion dishes, with urban grocery chains stocking multipacks to cater to younger consumer bases.

Competitive Landscape and Recent Developments:

The canned anchovy market is characterized by a competitive landscape with both established giants and boutique brands. Calvo Group, with its brands Calvo and Nostromo, leads the global industry, holding a significant 25% market share. Their extensive distribution network and commitment to consistent quality have cemented their leadership.

Recent industry developments highlight a focus on quality, heritage, and sustainability:

Conservas Ortiz continues to emphasize its artisanal approach, utilizing hand-filleting, six-month barrel aging, and MSC-certified Bay of Biscay sourcing to reinforce its premium positioning.

In 2024, Fishwife expanded its USA retail availability of Cantabrian anchovies in extra virgin olive oil through select Whole Foods locations, underscoring the growing demand for sustainably sourced, high-quality tinned seafood.

Consolidation is anticipated, with major seafood conglomerates likely to acquire boutique anchovy brands to expand their category breadth and secure supply.

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Outlook:

The canned anchovy market is set for sustained growth, driven by evolving consumer preferences for healthy, convenient, and versatile food options. While challenges related to sustainability and supply chain stability persist, strategic innovations in product offerings, packaging, and sourcing practices will be crucial for market players to capitalize on the increasing global demand for this savory marine delicacy.

Explore FMI's related ongoing Coverage in Food and Beverage Domain:

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