Market Trends of Canned Seafood Industry
Growing Preference for Convenience Food
The key factors driving the growth of canned seafood consumption are convenience, increasing disposable income, and a rising number of working women. Changes in lifestyles and increased expenditure on food and beverages lead to significant dietary transitions among consumers, marked by the increased demand for animal-sourced food, fats and oils, refined grains, and fruits and vegetables. People with hectic schedules, those who lack cooking skills and suffer from fatigue due to their fast-paced lifestyles, and changes in consumer demographics are the major factors driving the canned seafood market. Furthermore, the COVID-19 pandemic encouraged consumers to consume convenience foods, such as canned seafood, as lockdowns impacted the supply of fresh food. The importance of long-shelf-life food was paramount during this period. Besides convenience, the sustainability factor of canned seafood also facilitates their sales. Metal is the preferred packaging material for canned foods because it is known to be the most effective in preserving food quality and is 100% recyclable. Furthermore, metal is the only material that completely blocks light and oxygen from entering the package, serving as an excellent barrier.
Europe Accounted for the Largest Share
The region's high demand for ready-to-eat meals and seafood products propels the market growth. Furthermore, demand for long-lasting seafood products is expected to boost canned seafood consumption. The presence of major market players in the region and shifting consumer preferences toward ready-to-eat food are expected to drive market growth in the coming years. People's increased seafood consumption due to its numerous health benefits is expected to propel the industry's growth. Similarly, manufacturers are innovating in canned seafood products, which attract a larger consumer base. For instance, in October 2021, Mitch and Rockfish launched Rockfish Tinned Seafood, a British product that is made using fresh seafood direct from the South Coast of England. The tin is artfully packaged with bold and colorful modern designs.
