Canned Seafood Market to prosper with the rising demand for ready-to-eat foodsPosted by Shiva on November 26th, 2019 Market Overview: Canned seafood is processed into seafood, sealed in an airtight container, such as a sealed container, and subjected to heat. Canning is a food preservation method and provides a standard shelf life ranging from one to five years. The canned seafood market is expected to grow at a compound annual growth rate of 4.33% between 2019 and 2024. It is estimated to have a global market value of USD 19.8 billion in 2019 and is expected to reach USD 24.5 billion by 2024. Market Drivers and Restraints: The growing popularity of ready-to-eat seafood is due to improved distribution infrastructure to stimulate industry growth. In addition, factors such as changes in lifestyle and increased accessibility are likely to stimulate industry growth in the coming years. Demand for products is growing due to increased consumption of products due to health benefits, coupled with the adoption of sustainable fish farming techniques adopted by manufacturers. Also, it is expected that the advantages offered by this product, including extended shelf life and ease of cooking, will stimulate growth. The price of the product is primarily influenced by the unpredictability of the level of fish production. The low-income levels of the population in developing economies cannot afford the product that may hinder the growth of the industry. Also, the seasonal availability of products is expected to hinder development. However, lowering the price of products such as canned tuna is expected to lead to an increase. The industry is mainly affected by climatic conditions, shellfish pollution, which is expected to restrict the market growth. However, recent recommendations from countries such as increased consumption of canned seafood will probably boost the market growth in the coming years. To know more, click on the link below: https://www.marketdataforecast.com/market-reports/canned-seafood-market Report segmented as By Type:
Geographical Analysis: Based on geography, the world market is analyzed in various regions, namely North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. The Asia Pacific accounted for most of the market, followed by Europe and North America. In addition, the high demand for ready-to-eat foods and seafood in the region is expected to lead to market growth. Also, the increase in demand for top-shelf fisheries is likely to lead to more consumption of canned seafood. It is predicted that the presence of key market players in the Asia-Pacific region, together with increased disposable income and changes in consumer preferences about ready-to-eat foods, will be a crucial driver of market growth by the coming years. It is expected that an increase in seafood consumption by the population due to the tremendous health benefits will stimulate growth in the industry. It is likely that the rise in the use of such products in restaurants, hotels and industries in France will stimulate growth in Europe. Reliable consumer purchasing power in this region is likely to increase demand for the product in the coming years. The higher quality of seafood products offered by distributors, along with new bio-packaging technologies is expected to accelerate market growth over the forecast period. Growing demand for the product in Germany and the United Kingdom is likely to lead to higher production volumes. Besides, technological innovations, including aquaculture practices in this area, are expected to increase the growth of the industry in the coming years. Important Market Players: The marketplace is conquered by companies like Bumble Bee Seafoods, StarKist Co., Nippon Suisan Kaisha Ltd, Maruha Nichiro Corporation, Icicle Seafoods Inc., LDH (La Doria) Ltd, Thai Union Frozen Products, American Tuna, Inc., Universal Canning, Inc., Trident Seafoods Corporation and Connors Bros. Ltd. The Scope of the report: This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors. About Us: Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. For more information: Abhishek Shukla Sales Manager at Market Data Forecast Email: abhishek@marketdataforecast.com Tel: +1-888-702-9626 Website: https://www.marketdataforecast.com/ Like it? Share it! More by this author |