Europe Canned Seafood Market Size Groth Rate Analysis:
Europe Canned Seafood Market Size is anticipated to grow at 4.44% CAGR from 2019 to 2024 and it is estimated that the Europe market was valued at USD 4.95 billion in 2019 and is expected to reach USD 6.14 billion by 2024.
Canned seafood is seafood which has been processed, sealed in an airtight container such as a sealed tin can, and subjected to heat. Canning is a method of preserving food and provides a typical shelf life ranging from one to five years.
Europe Canned Seafood Market Growth Insights:
A rise in the popularity of ready-to-eat seafood products due to improvement in distribution infrastructure is anticipated to drive industry growth. In addition, factors such as changing lifestyles coupled with increasing affordability are likely to drive the industry growth over the coming years. The demand for the product is growing due to an increase in product consumption because of the health benefits coupled with the adoption of sustainable fish farming techniques adopted by the manufacturers.
In addition, advantages offered by this product including extended shelf life, ease of cooking, are anticipated to drive growth. The price of the product is highly affected by the unpredictability in the production level of fishes. Lower-income levels of the population in developing economies are unable to afford the product which is likely to hamper industry growth. Moreover, the seasonal availability of the product is anticipated to hamper the growth. However, a decrease in the price of products such as canned tuna is expected to drive growth. The industry is majorly influenced by climatic conditions, contamination of seafood which is anticipated to limit the market growth. However, a recent recommendation by countries such as to increase the canned seafood consumption is likely to propel the growth in the Europe Canned Seafood Market over the coming years
Detailed Segmentation of Europe Canned Seafood Market:
Europe Canned Seafood Industry - By Product Type:
Canned tuna emerged as one of the widely consumed products in the industry. On account of its superior properties including a rich source of lean proteins. In addition, other nutrients offered by the product such as omega 3 fatty acid that results in the improvement of personal health, is anticipated for increasing the consumption.
Furthermore, the advantage of the product include the improved immune system, reduced blood pressure, reduced depression, coupled with strengthened bones is likely to increase the consumption of this product. In addition, the products aids in weight reduction and cancer prevention, which is anticipated to raise the consumption of the product over the coming years. Canned shrimp market is expected to grow significantly during the forecast period owing to factors such as high nutritional value, use of the product across multiple cuisines adoption of the product by high-end restaurants.
In addition, the product provides benefits such as low-fat content coupled with the high concentration of easily digestible protein, which is expected to drive the market growth. The growth of canned prawns is expected to be hindered by the high incidences of illegal trade of prawns leading to environmental damage. In addition, the use of harmful antibiotics during the processing of such prawns is expected to restrain market growth. However, demand for is anticipated to increase on account of growing consumption by such products in South East Asia and Australia over the forecast period.
Market Regional Classification and Growth Insights:
Growth in consumption of such products in restaurants, hotels, industries in France is likely to drive growth in Europe. The strong purchasing power of consumers in this region is likely to propel the product demand over the coming years. The increased quality of seafood offered by distributors coupled with new eco-friendly packaging technologies is expected to accelerate the market growth over the forecast period. Growing demand for the product in Germany and the UK is expected to result in an increased production volume. In addition, technological innovations including aquaculture practices in this region are anticipated to increase industry growth over the coming years.
Leading key players mentioned in market report are:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.7 Other Seafood
5.1.8 Y-o-Y Growth Analysis, By Product
5.1.9 Market Attractiveness Analysis, By Product
5.1.10 Market Share Analysis, By Product
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
6.1.4 Market Attractiveness Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
6.1.5 Market Share Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Product
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Bumble Bee Seafoods
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 StarKist Co.
8.3 Nippon Suisan Kaisha Ltd
8.4 Maruha Nichiro Corporation
8.5 Icicle Seafoods Inc.
8.6 LDH (La Doria) Ltd
8.7 Thai Union Frozen Products
8.8American Tuna Inc.
8.9 Universal Canning, Inc.
8.10 Trident Seafoods Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures