Canned seafood market expected to surpass $82.1bn
The global canned seafood market size is expected to surpass $82.1billion by 2032, according to a study by Future Market Insights (FMI).
The market will show a steady rise at 8.3% CAGR between 2022 and 2032.
According to the report, the rising demand for seafood will stoke growth in the market. The report offers an executive-level blueprint of the market, covering key growth drivers, restraints, opportunities, and prevailing trends.
The report includes in-depth insights into the canned seafood market. Some of these are:
- The estimated value of the market was at US$ 36.4 Bn in 2022. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Regionally, Asia Pacific has emerged as a key market backed by rising demand in China, Vietnam, Thailand, and Indonesia.
- North America and Europe will remain steady as key markets for canned seafood.
- Canned tuna segment expected to show growth at an impressive rate over the forecast period.
- Key players are likely to focus on advanced technologies stay relevant in developed markets.
“Canned seafood market in Asia Pacific is currently picking pace on account of the rising demand for ready-to-eat food in the region. One of the key reasons favouring increased sales of ready-to-eat food and canned is that they offer a higher shelf-life,” said a lead analyst at FMI.
The demand for seafood has considerably risen in the last few years. The market owes much of this to the increasing awareness among consumers about health benefits of seafood.
Canned seafood offers the goodness of fresh seafood packed and ready-to-eat for better convenience.
Furthermore, canning seafood extends their shelf-life. These factors together work in favour of the expansion of the canned foods market.
In the coming years, the trade of seafood is expected to rise, especially on account of the rising demand in emerging nations across Asia Pacific. As a result of this, the canned seafood market is forecast to rise at a steady pace through the forecast period.