Canned Salmon Market

Canned Salmon Market Value And Growth (2023-2028):

The Global Canned Salmon Market was worth US$ 3,239.68 million in 2023 and is anticipated to increase at US$ 4,137.53 million by 2027 with a CAGR of 4.2% during 2023-2028.

Canned Salmon Market overview:

Canned fish is a popular food item. Protein and other vital elements, like as omega-3 fatty acids, are abundant in them. Prepared canned salmon is heated after being processed and packed in an airtight container. Food products that are canned help to preserve the food and extend its shelf life. Foods that are minimally processed and free of synthetic preservatives, as well as hazardous fertilizer and antibiotic residues, are in high demand. As a result, canned foods are the finest options for health-conscious consumers, especially athletes. Canned salmon has been seen as having a longer shelf life, as well as the ability to store it and ship it to other countries or continents when salmon fish is scarce owing to resource constraints. Increased consumer demand for canned salmon around the world would propel the market forward and accelerate market expansion.Due to an increase in the consumption of seafood that has a variety of health benefits, canned salmon is seeing an increase in demand. Salmon in cans is a good source of important elements including protein, which are necessary for a healthy body. Consumer eating habits have shifted as a result of changes in lifestyle and an increase in the working population. Processed foods, such as canned salmon, are preferred by consumers because they are ready-to-eat, easy to store, and include nutritional ingredients that are advantageous to one's health.

Canned Salmon Market Segmentation: 

By Product Type:

• Chum salmon

• Sockeye salmon

• Pink salmon

• Coho salmon

Based on product type, the sockeye salmon segment accounted for the biggest proportion of the worldwide canned salmon market, with the highest CAGR predicted during the forecast period. Red salmon is another name for sockeye salmon. They have a length of 24 to 33 inches and weigh between 5 and 15 pounds. Red salmon has a solid texture and a higher oil content than white salmon. In comparison to pink and chum salmon, these are more expensive and less widely available. With roughly 2.7 grams of omega 3 per 100-gram piece, red salmon has the most. As a result, just one serving per week can help reduce cholesterol and heart disease risk. Bristol Bay, Alaska, has both saltwater bays and freshwater lakes, and the red salmon run is one of the most spectacular in the world.

By Distribution channel:

• Mass retailers

• Direct selling

• Internet retailing

• Others

Based on the distribution channel, the direct selling category held the greatest share of the global canned salmon market, and it is predicted to increase at the quickest rate over the forecast period. Without the use of an intermediary, manufacturers can offer their products directly through an online or offline channel, avoiding profit erosion. The direct sales channel allows producers to engage directly with clients in order to design a product that meets their needs. As a result, the company is able to maintain solid customer connections and provide effective after-sales assistance.

Furthermore, customers gain from direct sales since the representative can quickly teach them on the specific products and services, leaving out the unnecessary details and focusing on what is relevant, which is not the case with distributor sales channels. In today's market, having an internet presence is critical to doing business. A large proportion of millennials are accustomed to using the Internet to find information or shop. A website is practically required for seafood dealers and retailers that want to communicate more directly with the public.

REPORT COVERAGE:

Canned Salmon Market Drivers:

Salmon consumption is rising as a result of its health benefits. Salmon consumption lowers cholesterol and blood pressure, improves cognitive function, and lowers the risk of cancer, stroke, depression, Alzheimer's disease, arthritis, Crohn's disease, and asthma. The rise of the canned salmon market is being fueled by a growing trend toward healthy eating habits that include a variety of protein meals, including more seafood. According to the Seafood Nutrition Partnership, consuming roughly 8 ounces of seafood per day to receive at least 250 mg of omega-3 fatty acids is recommended. Pregnant women are also encouraged to consume at least 8 ounces of seafood per week to promote the health of their babies.Salmon consumption is rising at an unprecedented rate around the world. Furthermore, salmon aquaculture has emerged as the world's fastest-growing food production system, accounting for 70% of the market (2.5 million metric tonnes) and producing billions of dollars in revenue for local economies throughout the world. 

Salmon consumption has increased globally due to an increase in demand for fish in emerging countries and a growth in healthy and nutritious foods. According to the Global Salmon Initiative, animal protein consumption will increase by about 73 percent globally by 2050. In addition, the expansion of salmon farming has created employment opportunities for a number of individuals living in coastal and distant places.Consumer awareness of healthy lifestyles and the benefits of nutritional food is growing, causing consumers to gravitate toward nutrient-rich food products, fueling the global canned salmon market's rise. Vitamin B aids in the conversion of food into energy and the proper functioning of the neurological system and brain. Omega-3 fatty acids aid in the reduction of inflammation, the reduction of disease risk factors, and the reduction of blood pressure. As a result, salmon's nutritional benefits are increasing demand for canned salmon among health-conscious consumers.

Canned Salmon Market Restraints:

A recent research study found that canned salmon consumption can be harmful to one's health, as well as illicit salmon harvesting and salmon population decline, to name a few possible restraints on the canned salmon market's growth.

Canned Salmon Market Regional Analysis: 

The Global Canned Salmon Market Report includes the segmentation of Regions:

• During the predicted period, Europe is expected to increase at the fastest rate of 4.5 percent. Because of expanding disposable incomes, urbanization, and demand for health benefits, Europe has become an important market for canned salmon. One of the primary driving reasons for the canned salmon market in the European region is an increase in disposable income combined with a change in lifestyle. The demand for canned salmon in Europe has increased dramatically in recent years. Furthermore, the presence of well-known manufacturers in Europe is aiding the market's expansion.

• Over the forecast period, Asia-Pacific will have a much bigger canned salmon market share than North America. Due to a growth in canned salmon consumption among the public, countries in the APEJ such as India, China, and Thailand are seeing significantly increasing demand for canned salmons.

• During the projected period, the canned salmon market in North America is expected to grow at a high CAGR. This is owing to the fact that packaged goods are in high demand in North America due to the dominance of culture that values such items, and canned salmon has long been a staple food for North Americans.

• Latin America

• Middle East and Africa

Canned Salmon Market Key Players:

The companies covered in the report include:

1. Austevoll Seafood ASA

2. Bumble Bee Seafood

3. Golden Prize Canning Co., Ltd.

4. FREEDOM FOODS GROUP LIMITED

5. Pure Alaska Salmon Co LLC

6. Princes Foods

7. Raincoast Trading

8. Wild Planet Foods

9. Peter Pan Seafoods

10. Alaska Seafood Company