Market Size of Canned Seafood Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.25 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Canned Seafood Market Analysis
North America Canned Seafood Market is estimated to witness a CAGR of 2.25% during the forecast period (2020 - 2025).
- North America is one of the leading consumers of canned seafood in the world. Though rising sustainability and health concerns have led to a decline in the amount of canned seafood consumed over the years this trend is yet to impact the growth in terms of market value, which can mainly be attributed to rising prices. The market is expected to keep growing at a modest rate over the forecast period.
- Though Bumble Bee Foods, LLC one of the leading companies in the region had filed bankruptcy in late 2019 it does not indicate an unfavorable marketplace as at that time the company was facing criminal fines and civil lawsuits to a federal price-fixing case. In fact, the dramatic increase in the presence of branded private label products owned by major retailers in the regions such as Walmart and Costco & various small players, in the market reflects the growing potential of canned seafood in the region.
North America Canned Seafood Industry Segmentation
North America canned seafood market is segmented by type into canned fish, canned prawns, canned shrimp, and other canned seafood. Canned fish is further segmented into tuna, salmon, and other canned fish. By distribution channel the scope includes supermarkets/ hypermarkets, convenience stores, online retail stores, and other distribution channels. By geography the scope includes United States, Canada, Mexico, and Rest of North America.
| By Type | |||||
| |||||
| Canned Prawns | |||||
| Canned Shrimp | |||||
| Other Canned Seafood |
| By Distribution Channel | |
| Supermarkets/ Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
Canned Seafood Market Size Summary
The North America canned seafood market is a significant segment within the global food industry, characterized by its steady consumption patterns despite evolving consumer preferences. The region stands as a leading consumer of canned seafood, with the United States being a major contributor to this demand. Although there has been a shift towards sustainability and health-conscious choices, which has somewhat affected the volume of canned seafood consumed, the market continues to grow in value, primarily driven by rising prices. The presence of branded private label products from major retailers like Walmart and Costco, alongside smaller players, underscores the market's potential. This consolidation among a few large players highlights the competitive landscape, where companies are increasingly focusing on sustainable sourcing to attract a more environmentally aware consumer base.
The market's growth trajectory is supported by a growing demand for sustainably produced seafood, particularly among younger consumers who prioritize high-quality, certified products. Retailers and key industry players are responding by committing to sustainable practices, which is expected to encourage repeat purchases despite higher price points. Canned tuna remains a staple, but there is a noticeable increase in the popularity of canned shellfish and salmon. Consumption patterns reveal that canned seafood is a regular part of meals in US households, especially during lunchtime, with sandwiches and salads being popular choices. This consistent demand, coupled with strategic market positioning by key players such as FCF Co., Ltd., Dongwon Enterprise Co., Ltd., and Thai Union Group, suggests a stable growth outlook for the North America canned seafood market over the forecast period.
Canned Seafood Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Canned Fish
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2.1.1.1 Tuna
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2.1.1.2 Salmon
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2.1.1.3 Other Canned Fish
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2.1.2 Canned Prawns
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2.1.3 Canned Shrimp
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2.1.4 Other Canned Seafood
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2.2 By Distribution Channel
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2.2.1 Supermarkets/ Hypermarkets
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2.2.2 Convenience Stores
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2.2.3 Online Retail Stores
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2.2.4 Other Distribution Channels
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2.3 Geography
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2.3.1 United States
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2.3.2 Canada
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2.3.3 Mexico
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2.3.4 Rest of North America
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Canned Seafood Market Size FAQs
What is the current Canned Seafood Market size?
The Canned Seafood Market is projected to register a CAGR of 2.25% during the forecast period (2024-2029)
Who are the key players in Canned Seafood Market?
Dongwon Enterprise Co., Ltd., FCF Co, Ltd., Thai Union Group, Blue Harbor Fish Co., Crown Prince, Inc., Goya Foods, Inc., The Jim Pattison Group, GraceKennedy Limited, GRUPO PINSA and Grupo Marítimo Industrial SA de CV (Grupomar) are the major companies operating in the Canned Seafood Market.
