Global Canned Seafood Market 2017-2021
About Canned Seafood
Canning is a method of preserving food. Canned products have a typical shelf life ranging from one-to-five years. Fish has a low acidity level, and thus, requires sterilization under high temperature. The increasing demand for fish and seafood among consumers worldwide is expected to drive the growth of the global canned seafood market during the forecast period. Canned food products have a shelf life ranging from one-to-five years. Fish has a low acidity level, and thus, requires sterilization under high temperature. Nicolas Appert is honored as the father of canning. Canned fish is used in the making of salads, burgers, and other dishes. Canned fish is more popular among busy cooks and shoppers. The demand for canned seafood is expected to remain high during the forecast period.
Technavio’s analysts forecast the global canned seafood market to grow at a CAGR of 4.29% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global canned seafood market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of medical devices required for thoracic surgeries.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Canned Sea Food Market 2017-2021
Technavio recognizes the following companies as the key players in the global canned sea food market: AquaChile, Brunswick Seafood, Marine Harvest, and Thai Union Group.
Other Prominent Vendors in the market are: Beijing Princess Seafood International Trading, Dong Won Fisheries, Labeyrie Fine Foods, Mogster Group, Princes Group, Sajo Industries, and Tassal.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growth prospects in e-commerce. With the rising trend of e-commerce businesses, there is a huge potential for players to increase their profitability by selling their products online. A number of consumers prefer to shop online due to the convenience factor of online shopping. This changing trend has encouraged numerous companies to focus on the new Internet-savvy customers and venture into this growing retail format. Moreover, this mode of business helps players save on operating costs, which are much lower in the online retail format than the physical store formats.”
According to the report, one of the major drivers for this market is New product launch. New and innovative products, in line with the growing consumer demand, are driving the global market. To stay competitive in the market and to meet the changing consumer demands, new products are being launched by players. This is an important driver contributing to the growth of the global canned seafood market. In June 2016, Princes Group launched its new range of canned Atlantic salmon products in the UK market and Tassal launched its new range of canned salmon products with 100% Australian-grown and canned claims. In October 2016, John West New Zealand launched the first MSC-certified canned skipjack tuna in the New Zealand market. In March 2017, Catalina Offshore Products launched its sustainable and locally harvested canned tuna products in the market.
Further, the report states that one of the major factors hindering the growth of this market is Illegal fishing and overfishing. Although commercial fishing is driving the market, it has led to overexploitation and depletion of fish stocks. Commercial fishing has adversely affected the fish stock. It is expected that commercial fishing will decrease during the forecast period due to an increase in the awareness of fishing techniques that harm the environment and deplete the fish stock.
AquaChile, Brunswick Seafood, Marine Harvest, Thai Union Group, Beijing Princess Seafood International Trading, Dong Won Fisheries, Labeyrie Fine Foods, Mogster Group, Princes Group, Sajo Industries, and Tassal.