Market Share of Canned Seafood Industry
The canned seafood market is highly competitive, with major players investing heavily in product development by strengthening their research and development initiatives for the long term. Strategic alliances and agreements with regional players are also some of the approaches preferred by manufacturers to increase their revenue and widen their geographical presence. With growing income levels and an increasing level of knowledge regarding the consumption of healthy food in these economies, companies are catering to the dynamic needs of the people for canned seafood around the world. The major players in the market are Thai Union Group, Bumble Bee Foods LLC, and Maruha Nichiro Corporation.
Moreover, key players have also been focusing on the sustainable production of seafood products to entice more consumers. Thus, players have invested huge capital in improving their processing techniques and certification processes to produce higher-quality products. For instance, in March 2021, Rio Mare, a Bolton Group brand, received EPD certification (Environmental Product Declaration) from DNV, an international certification body, becoming the world's first seafood brand with this certification.
Canned Seafood Market Leaders
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Thai Union Group
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Trident Seafoods Corporation
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Maruha Nichiro Corporation
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Dongwon Enterprise Co., Ltd.
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FCF Co. Ltd (Bumble Bee Foods LLC)
*Disclaimer: Major Players sorted in no particular order
