Global Canned Seafood Market is expected to reach USD 27.8 billion by 2025, growing at a CAGR of 3.2% according to a new report by Grand View Research, Inc. The industry is anticipated to grow on account of rising demand for processed food due to ease of consumption.
The health benefits offered by canned sea food such as
essential nutrients added during canning process including vitamin B12, D and A
leading to the metabolism improvement, is expected to drive growth over next
eight years. In addition, high demand for the ready to eat seafood is expected
to translate into an increased product consumption.
The product offers health benefits including improvement eye
sight, reduced risk of depression, increased immunity. In addition, the calcium
content provided by this product helps in increasing bone strength thereby
driving the demand for such products. Use of sustainable fish farming
techniques is expected to result in an increased yield, leading to abundance of
raw material for the market.
Technological advancements in tuna fishing with use of Fish
Aggregating devices and advanced packaging technology for fish products is
anticipated drive the industry growth over the eight years. In addition,
improved packaging procedures with the use of RFID tags to improve the product
traceability and agglomeration is expected to increase the product adoption by
the consumers, thereby contributing to the market growth.
Full Research Report on Global Canned Seafood Market
Analysis:
Further key findings from the report suggest:
- Sardines
is expected to emerge as the fastest growing segment growing at a CAGR
5.0%, by revenue from 2017 to 2025 owing to the rising availability in
ecommerce coupled with increased health benefits offered by the product.
- The
market for canned tuna is expected to account for 47.5% of the global
volume due to high consumer adoption coupled with superior taste of the
product. In addition, the industry is expected to benefit from the high
production volume of tuna primarily in Asia Pacific.
- The
industry in Asia Pacific is expected to grow at a CAGR of 4.1% by revenue,
from 2017 to 2025 due to high product consumption by the consumers as a
part of staple diet primarily in China, Japan, and Thailand.
- A
majority of the products consumed across the globe are manufactured and
canned in Asia Pacific due to abundance of raw material coupled with
presence of a large number of canneries in the region.
- Key
players operate the business through mergers & acquisitions in order
to increase the market share. In addition, the companies produced varying
customized products in accordance to the export destinations of the
product.
View more reports of
this category by Grand View Research at: http://www.grandviewresearch.com/industry/ready-to-eat-processed-and-frozen-foods
Grand View Research
has segmented the Global Canned Seafood Market on the basis of product and
region:
Canned Seafood Product Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
- Tuna
- Salmon
- Sardines
- Other
fish
- Prawns
- Shrimps
- Other
seafood
Canned Seafood Regional Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Asia
Pacific
- China
- Thailand
- Japan
- Vietnam
- Indonesia
- Israel
- Central
& South America
- Brazil
- Middle
East & Africa
- GCC
- East
Africa
View press release of this research report by Grand View
Research:
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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