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Asia Pacific Canned Seafood Market Size (2024 - 2029)

The Asia Pacific canned seafood market is anticipated to experience substantial growth, driven by the region's economic development and increased consumer purchasing power. As lifestyles evolve, there is a growing emphasis on healthy eating, which is boosting the demand for canned seafood. The cultural significance of fish in countries such as China, Japan, and South Korea further supports this demand. Additionally, rising health concerns related to the overconsumption of red meat are expected to contribute to the market's expansion.

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Market Size of Asia Pacific Canned Seafood Industry

Asia Pacific Canned Seafood Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.89 %
Market Concentration Medium

Major Players

Asia Pacific Canned Seafood Market Key players

*Disclaimer: Major Players sorted in no particular order

Asia Pacific Canned Seafood Market Analysis

Asia Pacific canned seafood market is expected to grow with a CAGR of 6.89 % during the forecast period (2020 - 2025).

  • The countries of the Asia Pacific region have been developing at a rapid pace which is leading to the up-gradation of the society, improving the buying power of the people as the economies become stronger. Thus, progress in the lifestyles of the consumers is likely to bring in the concept of healthy eating. promoting the market of canned seafood in the region.
  • Canned seafood has a long shelf life even when stored at room temperatures. Countries like China, Japan, and South Korea have a traditional significance of fish in their cultures and therefore, the high demand for fish in the countries is likely to foster the growth of the market.  
  • The Asia Pacific market is expected to be witness a significant demand for canned seafood in the near future owing to the rising health concerns as a result of excessive consumption of red meat.

Asia Pacific Canned Seafood Industry Segmentation

The Asia Pacific canned seafood market is segmented by product type into canned fish, canned shrimp, and other canned fish. The canned fish segment is further divided into tuna, salmon, and other canned fish types. Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels. The market is also classified by geography into China, Japan, South Korea, Australia, and Rest of Asia Pacific region.

By Product Type
Canned Fish
Tuna
Salmon
Other Canned Fish
Canned Shrimp
Other Canned Fish
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Online Retail Stores
Other Distribution Channels
Geography
China
Japan
South Korea
Australia
Rest of Asia Pacific
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Asia Pacific Canned Seafood Market Size Summary

The Asia Pacific canned seafood market is poised for significant growth, driven by the region's rapid economic development and increasing consumer purchasing power. As lifestyles evolve, there is a growing trend towards healthy eating, which is bolstering the demand for canned seafood. The long shelf life of canned seafood, even at room temperature, makes it an attractive option for consumers. Countries like China, Japan, and South Korea, with their cultural affinity for fish, are experiencing heightened demand, further propelling market expansion. The rising health concerns associated with red meat consumption are also contributing to the increased interest in canned seafood. Tuna, in particular, remains a popular choice due to its versatile flavor profile, although there is a noticeable shift towards other seafood varieties, such as shellfish, prompting manufacturers to innovate and diversify their product offerings.

In Australia, despite the abundance of fresh seafood, canned and frozen fish are among the most purchased seafood products, with a strong emphasis on sustainability. The majority of Australians prioritize sustainably sourced seafood, with many willing to pay a premium for certified products. This preference is reflected in the popularity of supermarkets like Coles, which offer MSC-certified frozen and canned seafood. The market's growth is further supported by the expansion of global companies into emerging economies within the region, catering to the increasing demand for convenient and healthy food options. Both regional private-label and global brands hold significant market shares, with geographical expansion and product innovation being key strategies for capturing a larger consumer base.

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Asia Pacific Canned Seafood Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product Type

      1. 2.1.1 Canned Fish

        1. 2.1.1.1 Tuna

        2. 2.1.1.2 Salmon

        3. 2.1.1.3 Other Canned Fish

      2. 2.1.2 Canned Shrimp

      3. 2.1.3 Other Canned Fish

    2. 2.2 By Distribution Channel

      1. 2.2.1 Supermarkets/Hypermarkets

      2. 2.2.2 Convenience Stores

      3. 2.2.3 Online Retail Stores

      4. 2.2.4 Other Distribution Channels

    3. 2.3 Geography

      1. 2.3.1 China

      2. 2.3.2 Japan

      3. 2.3.3 South Korea

      4. 2.3.4 Australia

      5. 2.3.5 Rest of Asia Pacific

Asia Pacific Canned Seafood Market Size FAQs

The Asia Pacific Canned Seafood Market is projected to register a CAGR of 6.89% during the forecast period (2024-2029)

Tri Marine Group, Tropical TC Boy Sdn Bhd., Kyokuyo Co., Ltd, StarKist Co. and Maruha Nichiro Corporation are the major companies operating in the Asia Pacific Canned Seafood Market.

Asia Pacific Canned Seafood Market Report Snapshots

Asia Pacific Canned Seafood Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)