New York, March 23, 2023 (GLOBE NEWSWIRE) -- The Tinned Fish Market revenues were estimated at US$ 9.5 Billion in 2022 and are anticipated to grow at a CAGR of 5.7% from 2023 to 2033, according to a recently published report by Persistence Market Research on Tinned Fish Market. By the end of 2033, the market is expected to reach a US$ 17.2 Billion revenue. The market through tinned tuna fish is expected to grow with a projected CAGR of 5.4% from 2023 to 2033.
Tinned fish is regarded as a healthy food option because it contains omega-3 fatty acids, which are beneficial to a healthy heart and brain as well as preventing blood clots in the arteries. It is high in selenium, which helps to protect against the negative effects of mercury. People are becoming more health conscious, particularly in developed countries. In 2018, it was recorded that household consumption of tinned fish reached around 727 thousand tons.
Food contamination is a major concern due to the corrosive property of tin cans, which leads to the formation of Bisphenol-A (BPA). To address this issue, the Can Manufacturers Institute devised a method of producing tin with polyester and acrylic linings. As an initiative, tinned fish brands like Bumblebee are now producing BPA-free cans. Such advances in technology have made it possible to produce high-quality tinned fish products that retain their flavour, freshness, and nutritional value. These technological advancements in the canning industry are likely to fuel the market globally.
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The tinned fish market refers to the industry involved in the production, distribution, and sale of canned fish products. Tinned fish, also known as canned fish, are fish that have been processed, preserved, and packaged in airtight containers for long-term storage. The global tinned fish market has been growing steadily over the years, driven by factors such as increasing demand for convenient, ready-to-eat seafood products, rising health consciousness among consumers, and the availability of a wide variety of fish species in canned form.
Some of the popular types of tinned fish products include tuna, sardines, salmon, mackerel, anchovies, and herring. These products are consumed by a wide range of consumers, including households, restaurants, and hotels. Geographically, the tinned fish market is dominated by Europe, followed by North America and Asia Pacific. Spain, Portugal, and Italy are some of the largest producers of tinned fish products in Europe, while the United States and Canada are major markets in North America.
In recent years, there has been a growing trend towards sustainable fishing practices and the use of eco-friendly packaging in the tinned fish industry. This is driven by concerns over the depletion of fish stocks and the impact of plastic waste on the environment. Overall, the tinned fish market is expected to continue growing in the coming years, driven by the increasing demand for healthy and convenient food products.
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Competitive Landscape
Key players in the Tinned Fish Market are Natural Sea, Crown Prince, Inc., Roland Foods, LLC., Bumble Bee Foods, LLC., Chicken of the Sea, John West, Karavela, Wild Planet, King Oscar, and Bar Harbor.
A few of the recent developments in the Tinned Fish Market are:
- In October 2022, Starkist Company introduced new StarKist smart bowls. The four flavor options for Smart Bowls are Latin Citrus, Spicy Pepper, Tomato Basil, and Zesty Lemon. They were designed to be enjoyed as a tasty complement to supper, as a filling snack, or as part of a light lunch. In a handy single-serve bag, the new StarKist Smart Bowl offers precisely seasoned grains, filling veggies, and wild-caught tuna.
- In November 2022, the Thai Union announced the acquisition of 50% of Aegir Seafood Company, the Icelandic Cod liver producer. All of Aegir's cod comes from Icelandic Responsible Fisheries, and the company's goods are also MSC-certified and thus this acquisition will help to increase the production of tinned fish.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Tinned Fish Market, presenting historical market data (from 2018 to 2022) and forecast statistics from 2023 to 2033.
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The study reveals extensive growth in Tinned Fish Market
- By Form (Caplet, Capsule, Liquid, Powder, Softgel, Tablet),
- By Sales Channel (Online Sales and Retail Sales),
- By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) from 2023 to 2033.
Persistence Market Research’s Expertise in Food & Beverage Division
The Food & Beverage team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfil the unique business intelligence needs of clients worldwide. With a catalogue of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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