The global canned salmon market is projected to reach US$ 4.5 Bn in 2021. Increasing demand for high protein foods is steering growth in the Sockeye canned salmon market. Expanding at a healthy 6.8% CAGR, the market is anticipated to total US$ 8.6 Bn in 2031.
Growing awareness regarding a healthy lifestyle and the importance of a balanced diet is propelling sales of canned salmon. Salmon is a rich source of omega-3 fatty acids and vitamin B12, which is vital for brain and nerve functioning.
Omega-3 fatty acids are beneficial for reducing inflammation, lowering blood pressure, and decreasing the risk factors of chronic ailments. Awareness regarding health benefits derived from salmon consumption is a key factor, driving sales of Sockeye canned salmon.
Due to hectic schedules and busy lifestyles, consumers are resorting to packaged and ready-to-eat meals. This trend is translating into increasing sales of canned salmon, as it is available in various forms such as smoked, sautéed, steamed, grilled, and poached, making it an easy option for breakfast and salads.
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Key Takeaways from Market Study
- The U.S. is estimated to account for 61.8% of the North American market in 2021, supported by increase in manufacturing units of canned salmon.
- According to Fact.MR’s analysis, Japan is estimated to account for 41.2% of the East Asian market share in 2021, supported by increase in the consumption of seafood.
- Russia is a high potential market in Europe, accounting for 21.5% market share in 2021, supported by the popularity of plant-based seafood.
- Wild source of canned salmon will hold nearly 67% of the market in 2021, on the back of increase in demand for protein-rich food.
- Pacific species of canned salmon reflect around 82% market share, owing to increase in the demand for pink and sockeye canned salmon.
“Key players are focusing on product innovation to increase their offerings through the addition of distinct flavors in canned salmon as per the consumption trends of regions,” says a lead analyst at Fact.MR.
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Presence of multinational players such as Thai Union Group Public Company Limited, Maruha Nichiro Corporation and others characterizes the global canned salmon landscape. In comparison to global manufacturers, local and regional players are focusing on strengthening their distribution channels in the local market.
Furthermore, regional players are attempting to expand their global influence. On the other hand, established players are bolstering their position by acquiring local players. As such, it is making the market a highly competitive space.
Fact.MR has provided detailed information about the price points of canned salmon of manufacturers positioned across regions, sales growth, production capacity, and speculative production expansion, in its recently published report.
- A subsidiary of Thai Union Group, John West Foods Ltd. launched Salmon Fridge Pot in 2021 to attract younger consumers and make the tinned salmon category more relevant to consumers.
Similarly, recent developments related to companies offering canned salmon have been tracked by the team at Fact.MR, which are available in the full report.
More Valuable Insights on Pink Canned Salmon Market
Fact.MR provides an unbiased analysis of the canned salmon market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global canned salmon market with a detailed segmentation on the basis of:
Key Segments Covered in Canned Salmon Industry Research
- By Source
- Wild Canned Salmon
- Farmed Canned Salmon
- By Species
- Atlantic Canned Salmon
- Pacific Canned Salmon
- By Form
- Skinless Boneless
- By Category
- Smoked Fish- In Oil/ Deep Fried
- Smoked Fish- Steamed
- Conventional/ Traditional
- By Sales Channel
- Direct Sales of Canned Salmon
- Indirect Sales of Canned Salmon
- Modern Trade
- Convenience Stores
- Specialty Food Stores
- Wholesale Stores
- Discount Stores
- Online Retail
- Other Retail Formats
Key Questions Covered in the Sockeye Canned Salmon Market Report
- The report offers insight into canned salmon market demand outlook for 2021-2031
- The market study also highlights projected sales growth for canned salmon market between 2021 and 2031
- Canned salmon market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Canned salmon market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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