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Rising Demand for Tinned Fish Driven by Its Longer Shelf Life Compared to Fresh Fish: Fact Report
ROCKVILLE, MD, UNITED STATES, June 21, 2024 /EINPresswire / -- The global tinned fish
market is expected to reach a value of US$ 10.24 billion in 2024 and forecasted to increase to US$ 17.97 billion by the end of 2034. Tinned or canned fish is regarded as a convenient and nutritious dietary choice due to its omega-3 fatty acid content, which promotes cardiovascular and cognitive
health while reducing the risk of arterial blood clots.
Tinned fish also serves as a significant source of selenium, which mitigates the harmful effects of mercury. Tinned fish offers an extended shelf life in contrast to fresh fish, minimizing the likelihood of spoilage and reducing food wastage. Consumers value the prolonged storage potential of tinned fish, particularly when replenishing pantry staples.
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Abundance of mackerel, found in oceans worldwide, makes it a cost-efficient choice for canning and distribution. The growing awareness of the health benefits associated with consuming salmon fish, such as improved heart health and brain function, is driving demand for this fish.
Salmon is highly valued for its adaptability in cooking, as it can undergo a variety of preparations such as grilling, baking, broiling, and smoking. This flexibility enables it to be incorporated into a diverse array of dishes and culinary styles, attracting consumers seeking a broad spectrum of flavorful meal choices.
Key Takeaways from Market Study:
Sales of tinned fish are estimated to reach a value of US$ 10.24 billion in 2024 market is forecasted to touch US$ 17.97 billion by the end of 2034.
The market in the United States is set to reach a value of US$ 1.58 billion in 2024 of tinned fish in China are forecasted to reach US$ 3.43 billion by the end of 2034 East Asian market is projected to expand at 6.3% CAGR over the next 10 years.
“Seafood is a rich source of protein and omega-3 fatty acids. Rising health consciousness worldwide and the need for convenient food options due to hectic lifestyles are boosting sales of seafood products, including tinned fish,” says a Fact analyst.
Key players in the tinned fish industry are Bumble Bee Foods, LLC., Chicken of the Sea, John West, Karavela, Wild Planet, King Oscar, Bar Harbor, Maruha Nichiro Corporation, Icicle Seafoods Inc., LDH (La Doria) Ltd., Natural Sea, Crown Prince, Inc. Fish Meal Market, and Fish Oil Market are supportive of this market.
Expanding Global Access to Tinned Fish
Tinned fish provides culinary versatility, fitting seamlessly into a range of dishes like salads, sandwiches, pasta, and appetizers. Its adaptability appeals to consumers looking for convenient, flavorful, and nutritious meal options. Manufacturers are continually innovating, offering new flavors, packaging styles, and product varieties to align with changing consumer tastes and dietary trends. These innovations are key to attracting new customers while maintaining loyalty among existing ones. Demand for canned fish varies by region, influenced by dietary preferences, cultural factors, economic conditions, and seafood consumption habits. With robust distribution networks, tinned fish is accessible to consumers worldwide, reaching both urban and rural areas.
Country-wise Insights
Increasing Demand for Convenient and Nutritious Food Options
Focusing on health and wellness, an increasing number of consumers in the United States are seeking convenient and nutritious food options. Tinned fish, abundant in omega-3 fatty acids and protein, fits perfectly with these preferences, drawing the attention of health-conscious individuals. The rising demand for seafood products like tinned fish in the United States is fueled by a growing awareness of the health benefits associated with seafood.
Market Benefiting from Growing Awareness of Health Benefits of Fish
Growing awareness of the health benefits associated with seafood is spurring interest in products integrating fish into daily diets. Tinned fish, valued for its convenience, is gaining traction among health-conscious individuals. Supermarkets, known for their extensive offerings and accessibility, facilitate easy access to tinned fish during routine shopping trips. These outlets also promote tinned fish products alongside other health-oriented items, heightening their visibility and attracting consumer attention.
Competitive Landscape
According to a report by the New York Times, TikTok has sparked curiosity, showcasing tinned fish date nights, reviews, and recipes. Restaurants are incorporating it into their menus, a dedicated market for tinned fish has emerged in Times Square, and vegan alternatives, subscription services, and cookbooks have emerged.
Tinned fish brands like Scout have experienced increased sales following exposure on TikTok, expanding their presence to 6,000 stores across the United States and Canada from 1,500. While many brands offer cans for approximately US$ 2, some enthusiasts are willing to spend over US$ 20 per tin.
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More Valuable Insights on Offer
Fact, in its new offering, presents an unbiased analysis of the tinned fish market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the tinned fish market based on type (mackerel, salmon, sardines, tuna) and distribution channel (supermarkets/hypermarkets, convenience stores, online retail channels), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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