North America Canned Seafood Market Size, Share & Industry Trends Analysis Report By Distribution Channel (Retail and Foodservices), By Product (Tuna, Salmon, Prawns, Shrimps, Sardines), By Country and Growth Forecast, 2022 – 2028
The North America Canned Seafood Market would witness market growth of 4.3% CAGR during the forecast period (2022-2028).
Because of its nutritious benefits, canned fish is widely consumed. It includes little trans-fat and is high in proteins, vitamins, and carbs. It is easy to store and can be stored for a long time. It contains complete information about the product's ingredients and expiration date. Consumers enjoy seafood, such as tuna and bluefish, since it is healthful and desired for a balanced diet.
Omega 3 fatty acids, found in oily fish like canned salmon, have been associated with a lower risk of heart disease, stroke, macular degeneration (eyes), and even dementia. Canned salmon with bones is a good source of calcium, with one small (95g) can containing as much calcium as 200ml of milk and more than 15g of protein.
The popularity of plant-based vegan canned seafood is expected to drive the canned seafood business forward. In response to the growing demand for plant-based seafood, scientists and market players are developing nutritious, plant-based alternatives that taste just like the real thing. For example, Karavela, a canned fish company, developed a line of canned seafood products manufactured from yellow peas in December 2021. Plant-based fish is also attracting the attention of startups and huge enterprises. TUNO, a fishless tuna replacement manufactured from yeast, soy, and sunflower extract, was introduced by Atlantic Natural Foods.
Canned seafood sales are all-time high in the United States. Seafood is a popular menu item at American restaurants and diners. The United States' growing taste for diverse meals is likely to boost the canned seafood industry. In addition, according to the US National Marine Fisheries Service, the US market imported 156,639 tons of canned tune in 2018. Additionally, one of the key regional market trends is the growing popularity of ready-to-cook meals. Furthermore, a surge in the number of canned seafood manufacturers, as well as the development of existing firms in response to increased demand, are driving sales in the region.
Demand for canned salmon has increased, prompting major market players to expand their operations as well as production capacity and the introduction of new enterprises into the market. Furthermore, due to the dominance of a society that values such goods, packaged goods are in extremely high demand in North America, and canned seafood has long been a basic cuisine for North Americans. As a result, these factors are expected to offer up new growth opportunities for participants in the regional canned seafood Market. Therefore, this factor is increasing the growth of the regional market.
The US market dominated the North America Canned Seafood Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,232.5 Million by 2028. The Canada market is experiencing a CAGR of 6.7% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 5.7% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Retail and Foodservices. Based on Product, the market is segmented into Tuna, Salmon, Prawns, Shrimps, Sardines, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include F.C.F. Fishery Co., Ltd., StarKist (Dongwon Industries), Nippon Suisan Kaisha, Ltd., Universal Canning, Inc., LDH (La Doria) Ltd., Thai Union Group PLC, American Tuna, Inc., Maruha Nichiro Corporation, Wild Planet Foods, Inc., and Trident Seafoods Corporation.
Scope of the Study
Market Segments covered in the Report:
By Distribution Channel
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