Canned Salmon Market to Reach US$ 9.2 Bn by 2032 - Comprehensive Research Report By FMI
Worldwide Canned Salmon Industry to 2032 - Players Include Thai Union Group Public Company Limited, Freedom Foods Group Limited, Canada Fishing Company(Canfisco), Maruha Nichiro Corporation - futuremarketinsights.com
NEWARK, Del., May 18, 2022 /PRNewswire/ -- The canned salmon market is expected to witness growth at a CAGR of 6.8%, reaching a valuation of US$ 9.2 Bn by 2032. Manufacturers are using salmon byproducts in a variety of products including pet food, animal feed, and as a fat absorber in the meat and confectionary sectors. These applications aid in reducing waste at the manufacturer's end and allow for the most efficient use of resources.
The manufacturers therefore improve the company's revenue by selling such items that use the available resources created by the production of the company's core product. Thai Union Group, Pataya Food Industries, Alaska Seafood Company, and other large seafood companies are also involved in the production of pet food.
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The canned salmon market is predicted to expand considerably as more players are investing in online retail format to reach out to more customers in accordance with the growing trend of online shopping. The online retail model is handy for consumers, and growing digitalization across emerging economies will augment the growth in the market.
East Asia is expected to witness surge in demand for canned salmons due to less stringent policies in addition to rising population and changes in consumer spending patterns. Owing to these factors, demand for canned salmons is expected to rise in the near future.
"Manufacturers are offering a wide range of flavors and forms of canned salmon, which in turn will augment the growth in the market. In addition to this, rising adoption of sustainable practices for aquaculture will drive sales in the forthcoming years," says an FMI analyst.
Key Takeaways:
- Based on source, sales in the farmed fish segment will increase at a 5.6% CAGR over the forecast period.
- In terms of species, demand for pacific species will grow at a 6.9% CAGR through 2032.
- By sales channel, the indirect segment is projected to expand at a 7% CAGR over the forecast period.
- Total sales of canned salmon in the U.S. market will reach a valuation of US$ 775.8 Mn in 2022.
- Thailand will emerge as a lucrative pocket, accounting for 30% of the South Asia canned salmon market share in 2022.
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Competitive Landscape
Key canned salmon producers are working on research and development in order to offer a variety of goods that do not include any chemical additives. To enter untapped market, leading players are partnering and developing new product lines. For instance:
- Thai Union Group plans to launch Plant based products comprising both seafood and non-seafood in Asia Pacific region in 2021.
- Subsidiary of Thai Union Group, John West Foods Ltd. has unveiled a Salmon Fridge Pot in 2021 in a bid to attract younger consumers and make the tinned salmon category more relevant to consumers.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Product Launch and Recent Development
3.4. Product Life Cycle Analysis
3.5. Value Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid - level Participants
3.5.1.3. Wholesalers and Distributors
3.5.2. % of operating margins
3.5.3. List of raw material suppliers
3.5.4. List of existing and potential buyer
3.6. Global Rice Milk Market - Pricing Analysis
3.6.1. Price Point Assessment by Region
3.6.2. Price Point Assessment by Product Type
3.6.3. Price Forecast till 2032
3.6.4. Factors affecting Pricing
3.7. Forecast Factors -Relevance and impact
3.8. PESTLE and Porters Analysis
3.9. Regulatory landscape
3.9.1. Packaging & Labelling Regulations
3.9.2. Certifications and Certifying Agency Overview
3.9.3. Import/Export Policies
3.10. Regional Parent Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
3.13. Consumers Survey Analysis
3.14. Macro-Economic Factors
3.15. Product claims and nutritional information scan by buyers
TOC continued..!
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global canned seafood market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on Source (Wild and Farmed), By Form (Skinless/ Boneless, Chunks, and Fillets), Category (Smoked Fish- In Oil/ Deep Fried, Smoked Fish- Steamed, and Conventional/ Traditional), Species (Atlantic and Pacific), Sales Channel (Direct Sales and Indirect Sales), & Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).
About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights 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 about 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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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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