The latest market analysis report by the publisher reveals that the global Tinned Fish Market achieved a significant milestone in 2024, with sales totaling US$10.2 Billion. With a projected Compound Annual Growth Rate (CAGR) of 8% expected from 2024 to 2031, the market is set to reach an impressive valuation of US$17 Billion by the end of the forecast period.
Prominent Trends and Key Factors Shaping the Tinned Fish Market:
1. Shifting Consumer Preferences to Ready-to-Eat Food The market is strongly influenced by the shift in consumer preferences from traditional meals to convenient ready-to-eat options, driving the production of high-quality tinned fish products.
2. Health Benefits of Tinned Fish Tinned fish is increasingly recognized as a convenient and healthy food choice due to its rich content of omega-3 fatty acids, beneficial for heart and brain health, as well as its selenium content that counteracts mercury's adverse effects.
3. Urbanization and Population Growth Urbanization and a growing global population have led to increased fish consumption, with the sector's annual growth rate reaching 3.1%, surpassing other animal protein sources like meat and milk. In 2023, total fish consumption reached about 185 billion kilograms, marking a notable increase from the previous year.
4. Technological Advances in Canning The canning industry's technological advancements have addressed concerns related to food contamination, primarily caused by the corrosive nature of tin cans that can lead to bisphenol-A (BPA) formation. Innovations like polyester and acrylic linings in tin cans have enabled the production of high-quality tinned fish products that retain their flavor, freshness, and nutritional value.
United Kingdom: The tinned fish market in the United Kingdom is anticipated to achieve a notable valuation by 2031, with considerable growth expected between 2024 and 2031. From 2019 to 2023, the market saw steady growth, and it is expected to maintain this momentum from 2024 to 2031. The availability of abundant fish supply due to geographical advantages and government support in the fishing sector contributes to market expansion.
China: China's tinned fish market is predicted to reach a substantial valuation by 2031, with a significant increase in value between 2024 and 2031. The market showed consistent growth from 2019 to 2023 and is projected to experience even stronger growth from 2024 to 2031. The high consumption of seafood and a rising trend in fish consumption continue to drive market growth.
Japan: The tinned fish market in Japan is set to achieve a noteworthy valuation by 2031, with a substantial increase in value between 2024 and 2031. From 2019 to 2023, the market witnessed consistent growth, and it is expected to maintain a strong growth trajectory from 2024 to 2031. Japan's strong tradition of fish consumption in its cuisine, along with a preference for ready-to-cook options, contributes to market growth.
South Korea: The South Korean tinned fish market is projected to reach a significant valuation by 2031, with a notable increase in value between 2024 and 2031. The market experienced consistent growth from 2019 to 2023 and is anticipated to see accelerated growth from 2024 to 2031. A transition towards increased seafood consumption and dietary changes positively influences market growth.
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Prominent Trends and Key Factors Shaping the Tinned Fish Market:
1. Shifting Consumer Preferences to Ready-to-Eat Food The market is strongly influenced by the shift in consumer preferences from traditional meals to convenient ready-to-eat options, driving the production of high-quality tinned fish products.
2. Health Benefits of Tinned Fish Tinned fish is increasingly recognized as a convenient and healthy food choice due to its rich content of omega-3 fatty acids, beneficial for heart and brain health, as well as its selenium content that counteracts mercury's adverse effects.
3. Urbanization and Population Growth Urbanization and a growing global population have led to increased fish consumption, with the sector's annual growth rate reaching 3.1%, surpassing other animal protein sources like meat and milk. In 2023, total fish consumption reached about 185 billion kilograms, marking a notable increase from the previous year.
4. Technological Advances in Canning The canning industry's technological advancements have addressed concerns related to food contamination, primarily caused by the corrosive nature of tin cans that can lead to bisphenol-A (BPA) formation. Innovations like polyester and acrylic linings in tin cans have enabled the production of high-quality tinned fish products that retain their flavor, freshness, and nutritional value.
Regional Market Opportunities:
Europe:
Europe demonstrated a considerable market size in 2023 and is anticipated to maintain growth in 2024. The region is expected to experience further expansion, reaching a significant valuation by 2031. Moreover, Europe has seen a notable increase in tinned fish consumption, particularly following the COVID-19 pandemic.Country-wise Analysis:
United States: The tinned fish market in the United States is expected to see significant growth by 2031, with a substantial increase between 2024 and 2031. The market demonstrated consistent growth from 2019 to 2023 and is projected to continue this upward trend from 2024 to 2031. This growth is driven by the country's strong consumption of seafood and substantial imports.United Kingdom: The tinned fish market in the United Kingdom is anticipated to achieve a notable valuation by 2031, with considerable growth expected between 2024 and 2031. From 2019 to 2023, the market saw steady growth, and it is expected to maintain this momentum from 2024 to 2031. The availability of abundant fish supply due to geographical advantages and government support in the fishing sector contributes to market expansion.
China: China's tinned fish market is predicted to reach a substantial valuation by 2031, with a significant increase in value between 2024 and 2031. The market showed consistent growth from 2019 to 2023 and is projected to experience even stronger growth from 2024 to 2031. The high consumption of seafood and a rising trend in fish consumption continue to drive market growth.
Japan: The tinned fish market in Japan is set to achieve a noteworthy valuation by 2031, with a substantial increase in value between 2024 and 2031. From 2019 to 2023, the market witnessed consistent growth, and it is expected to maintain a strong growth trajectory from 2024 to 2031. Japan's strong tradition of fish consumption in its cuisine, along with a preference for ready-to-cook options, contributes to market growth.
South Korea: The South Korean tinned fish market is projected to reach a significant valuation by 2031, with a notable increase in value between 2024 and 2031. The market experienced consistent growth from 2019 to 2023 and is anticipated to see accelerated growth from 2024 to 2031. A transition towards increased seafood consumption and dietary changes positively influences market growth.
Category-wise Insights:
Tuna Tinned Fish Tuna tinned fish is poised for secure growth, with a CAGR of over 5.4% expected from 2024 to 2031. Tuna's popularity is attributed to it being a rich source of protein and vitamins. In 2020, the United States alone consumed over 266 million canned tuna, accounting for 31% of global canned tuna production.Competitive Analysis:
Key players in the Tinned Fish Market include Natural Sea, Crown Prince, Inc., Roland Foods, LLC., Bumble Bee Foods, LLC., Chicken of the Sea, John West, Karavela, Wild Planet, King Oscar, and Bar Harbor.
Segmentation of the Global Tinned Fish Market:
By Type:
- Mackerel
- Salmon
- Sardines
- Tuna
By Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail Channels
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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Table of Contents
1. Executive Summary
2. Market Overview
3. Price Analysis, 2018 - 2023
4. Global Tinned Fish Market Outlook, 2018 - 2031
5. North America Tinned Fish Market Outlook, 2018 - 2031
6. Europe Tinned Fish Market Outlook, 2018 - 2031
7. Asia Pacific Tinned Fish Market Outlook, 2018 - 2031
8. Latin America Tinned Fish Market Outlook, 2018 - 2031
9. Middle East & Africa Tinned Fish Market Outlook, 2018 - 2031
10. Competitive Landscape
11. Appendix
Companies Mentioned
- Natural Sea
- Crown Prince, Inc.
- Roland Foods, LLC.
- Bumble Bee Foods, LLC.
- Chicken of the Sea
- John West
- Karavela
- Wild Planet
- King Oscar
- Bar Harbor
