Market Trends of Canned Seafood Industry
This section covers the major market trends shaping the North America Canned Seafood Market according to our research experts:
Increasing Demand For Sustainable Products
The demand for sustainably produced products has been growing year-on-year especially among the younger demographics in the region. In response to this demand, a significant number of retailers and key players in the market are now committed to sourcing high-quality sustainable products from certified fisheries engaged in Fishery Improvement Projects. With the increased availability of such products in the marketplace, it is anticipated that well-informed consumers will make repeat purchases despite slightly higher prices. This trend is expected to maintain the growth of the market over the forecast period.
United States to Hold A Significant Market Share
The United States is the largest consumer of canned seafood in the region, and one of the largest market in the world. Although canned tuna accounts for a significant share of the market, the demand for canned shellfish and canned salmon has been on the rise in recent years. Despite the decline in the amount of canned tuna consumed over the years, rising prices are expected to maintain growth in the market over the forecast period. Canned seafood has been observed to be consumed several times a month in US households, especially in large households. Lunchtime has been observed to be the most preferred time of the day to consume canned seafood, and sandwiches and salads account for the most popular means to consume it, especially during the summer.
