Store Based and Private Label Canned Salmon Brands Witnessed 1.2X Increase in Demand

iCrowd Newswire
22 Nov 2021, 22:49 GMT+10

The global canned salmon market is projected to reach US$ 4.5 Bn in 2021. Increasing demand for high protein foods is steering growth in the Sockeye canned salmon market. Expanding at a healthy 6.8% CAGR, the market is anticipated to total US$ 8.6 Bn in 2031.

Growing awareness regarding a healthy lifestyle and the importance of a balanced diet is propelling sales of canned salmon. Salmon is a rich source of omega-3 fatty acids and vitamin B12, which is vital for brain and nerve functioning.

Omega-3 fatty acids are beneficial for reducing inflammation, lowering blood pressure, and decreasing the risk factors of chronic ailments. Awareness regarding health benefits derived from salmon consumption is a key factor, driving sales of Sockeye canned salmon.

Due to hectic schedules and busy lifestyles, consumers are resorting to packaged and ready-to-eat meals. This trend is translating into increasing sales of canned salmon, as it is available in various forms such as smoked, sautéed, steamed, grilled, and poached, making it an easy option for breakfast and salads.

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Moreover, market players are leveraging online retail channels to cater to the growing demand among consumers. Increasing focus on quality, ethical eating practices, and authentic sourcing is boosting sales of canned salmon through indirect sales channels such as modern trade and specialty food stores. These factors are indicative of lucrative growth prospects in the canned salmon market during the assessment period.

As per Fact.MR, the U.S. is anticipated to account for 61.8% of the North America canned salmon market. Increasing consumption of seafood, robust foodservice industry, and presence of leading market players will continue fueling market growth in the U.S. through 2031.

Key Takeaways from Wild Canned Salmon Market Analysis:

Wild canned salmon segment is projected to generate maximum revenue, accounting for 67% of the total market share.

Demand for pacific species of canned salmon is projected to grow at a 6.9% through 2031.

Based on form, sales of skinless and boneless canned salmon are anticipated to grow at a 6.7% CAGR.

The U.S. is estimated to account for 61.8% of the total North American canned salmon market share.

Canned salmon market in Japan is poised to total US$ 363.3 Mn in 2021, owing to increasing demand for protein-based products.

Russia is anticipated to dominate the European canned salmon market, holding 21.5% of the total market share.

China will emerge as an attractive market, accounting for 36.9% of the total market share.

Thailand is anticipated to dominate the South Asian canned salmon market, growing at a 7.1% CAGR.

Growth Drivers:

Expansion of the packaged food industry will significantly provide tailwinds to canned salmon sales.

Increasing innovations and the availability of flavors and variants in canned salmon will propel sales of the same.

Growing awareness of high nutrient content in food items will drive sales of canned salmon.

Restraints:

Restrictions on overfishing in various regions might hamper the market growth.

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Competitive Landscape

Owing to the increasing demand for seafood, prominent players operating in the canned salmon market are investing in mergers and acquisitions to provide adequate product offerings.

For instance, in 2021, Peter Pan Seafoods, a leading player in canned salmon market, merged with Northwest Fish company to facilitate and streamline the flow of approximately 50 million pounds of Alaska seafood in the U.S. market.

Leading Players in the Farmed Canned Salmon Market Include:

Thai Union Group Public Company Limited

Maruha Nichiro Corporation

Tassal Group Limited

Bumble Bee Seafoods L.L.C

Princes Group Limited.

Beijing Princess Seafood International Trading

Mogster Group

Marine Harvest

Thai Frozen Products Company

Sajo Industries

Austevoll Seafood ASA

Dong Won Fisheries

Labeyrie Fine Foods

More Valuable Insights on Pink Canned Salmon Market

Fact.MR provides an unbiased analysis of the canned salmon market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global canned salmon market with a detailed segmentation on the basis of:

Source:

Wild Canned Salmon

Farmed Canned Salmon

Species:

Atlantic Canned Salmon

Pacific Canned Salmon
- Pink
- Sockeye
- Coho
- Chum
- Chinook

Form:

Skinless Boneless

Chunks

Fillets

Category:

Smoked Fish- In Oil/ Deep Fried

Smoked Fish- Steamed

Conventional/ Traditional

Sales Channel:

Direct Sales of Canned Salmon

Indirect Sales of Canned Salmon
- Modern Trade
- Convenience Stores
- Specialty Food Stores
- Wholesale Stores
- Discount Stores
- Online Retail
- Other Retail Formats

Region:

North America

Latin America

Europe

East Asia

South Asia

Oceania

Key Questions Covered in the Sockeye Canned Salmon Market Report

The report offers insight into canned salmon market demand outlook for 2021-2031

The market study also highlights projected sales growth for canned salmon market between 2021 and 2031

Canned salmon market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

Canned salmon market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

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Tags: Sales Analysis of Canned Salmon