Canned Salmon Market to Cross US$ 9 Billion by 2032 as Consumption of Sea-Food for Rich Protein Intake Rises

Smoked Canned Salmon to Remain Rich Delicacy in Asian Cuisines; Japan to Emerge as a Lucrative Pocket in East Asia

Fact.MR in its latest study highlights the key growth factors, latest developments, opportunities & challenges, and market statistics to offer a better understanding of the global canned salmon market. It also sheds light on the key trends influencing the market growth through the segments including source, species, form, sales channel, category, and region.

ROCKVILLE, Md., Nov. 15, 2022 /PRNewswire/ -- The global canned salmon market is estimated to be valued at US$ 4.5 Billion in 2022. Furthermore, the overall demand for canned salmon is poised to grow at a CAGR of 7.1% between 2022 and 2032, totaling US$ 9 Billion by 2032.

Canned or tinned fish utilize vitamins such as B-12 during canning and is easily available in the supermarkets and online grocery stores. As salmon is considered to be the rich source of omega-3 fatty acids and protein, consumers are increasing the intake of canned salmon. This is expected to be the key factor propelling the sales in the market.

As per the study, people with memory loss issues consume higher amount of sea-food, especially salmon, instead of meat. Further, with rising inclination towards minimally processed foods is also paving the way for canned salmon in the food service industry.

Subsequently, salmon byproducts are used in a variety of application such as pet food, animal feed, and as a fat absorber in confectionary and meat industry. Hence, key manufacturers are increasing the production of canned salmon and gain revenue from a wide range of applications.

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Moreover, canned salmon is considered to be a rich delicacy in food service industry, especially in Asian cuisines. Rising popularity of Sushi and Asian cuisine among the younger generation is expected to fuel the demand in the market. As per the study, smoked canned salmon is expected to be the most preferred category in the market. Rich flavor and savory taste of deep fried smoked canned salmon is expected to aid the sales in the segment.

Fact.MR opines, East Asia is expected to be the most remunerative market over the forecast period (2022-2032). Growth in the market is attributed to growing consumption of canned salmon and tuna in Japanese cuisines. Also, Japan has the least stringent policies regarding the manufacturing and marketing of canned salmon. Hence, key players are likely to eye Japan canned salmon market for the untapped potential.

Key Takeaways:

• By source, farmed canned salmon is expected to account for nearly 1/3^rd of sales in the global market.
• Based on species, the Atlantic salmon is expected to be the most preferred in the canned salmon market.
• By sales channel, indirect segment is projected to register highest growth in the global canned market during the forecast period.
• Sales of canned salmon in the U.S. are expected to reach US$ 775.8 Million by the end of 2022.
• Japan is expected to account for highest share in East Asia canned salmon market and topped a valuation of US$ 363.3 Million in 2021.
• Thailand is expected to emerge as a lucrative pocket in South Asia, accounting for lion's share in the market.

Growth Drivers:

• As salmon is considered to be a rich source of protein and omega-3 fatty acids, consumers are increasing the intake of canned salmon.
• Increasing availability and attractive offers by e-commerce platforms will aid the sales of canned salmon.
• Rising popularity of Asian cuisine will drive the demand for canned salmon across the globe.

Restraints:

• High cost of canned salmon might limit the sales in emerging economies and low-income countries.
• Concerns regarding the contamination and chemical additives in canned tuna or salmon might create challenges for key players in the market.

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Competitive Landscape:

Key players in the canned salmon market are focusing on research & development activities to produce canned salmon with any chemical additives. They are also collaborating with end users and online grocery platforms to expand their customer base.

For instance,

• In 2021, John West Foods Ltd, leading player in Thai announced the launch of its new Salmon Fridge Pot to attract younger consumers in the tinned salmon category.

Key Companies Profiled by Fact.MR

• Bumble Bee Seafoods L.L.C
• Thai Union Group Public Company Limited
• Princes Group Limited
• Maruha Nichiro Corporation
• Sajo Industries
• Tassal Group Limited
• Mogster Group
• Beijing Princess Seafood International Trading
• Marine Harvest
• Dong Won Fisheries
• Thai Frozen Products Company
• Labeyrie Fine Foods
• Austevoll Seafood ASA.

More Valuable Insights on Canned Salmon Market

In the latest study, Fact.MR offers a detailed study on global canned salmon market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of canned salmon through detailed segmentation as follows:

By Source:

• Farmed
• Wild

By Species:

• Atlantic
• Pacific
• Sockeye
• Pink
• Coho
• Chum
• Chinook

By Form:

• Skinless & Boneless
• Chunks
• Fillets

By Category:

• Smoked Fish- In Oil/ Deep Fried
• Smoked Fish- Steamed
• Conventional/ Traditional

By Sales Channel:

• Direct Sales
• Indirect Sales
• Modern Trade
• Convenience Stores
• Specialty Food Stores
• Wholesale Stores
• Discount Stores
• Online Retail
• Other Retail Formats

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key Questions Covered in the Canned Salmon Market Report

• What is the projected value of the canned salmon market in 2022?
• At what rate will the global canned salmon market grow until 2032?
• Which are the factors hampering the growth in the canned salmon market?
• Which region is expected to lead in the global canned salmon market during 2022-2032?
• Which are the factors driving the canned salmon market during the forecast period?
• What is the expected market value of the canned salmon market during the forecast period?

Explore Fact.MR's Coverage on the Food & Beverage Domain

Alaskan Salmon Market: With growing concerns regarding the toxicity and contamination of farmed salmon, the demand for Alaskan salmon is expected to surge over the upcoming decade. As Alaskan salmon is considered to be the least contaminated species and with zero to minimal toxins, the sales in the market are predicted to rise.

Frozen Smoked Salmon Market: With growing preference towards sea-food and delicacies in Western cuisine, the consumption of frozen smoked salmon is predicted to burgeon. As salmon is considered to be savory, nutritionally dense, and a rich source of protein, consumers are increasing the intake of frozen smoked salmon in their diet, fueling the sales.

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Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.

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SOURCE Fact.MR