Market Size of Asia Pacific Canned Seafood Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.89 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Canned Seafood Market Analysis
Asia Pacific canned seafood market is expected to grow with a CAGR of 6.89 % during the forecast period (2020 - 2025).
- The countries of the Asia Pacific region have been developing at a rapid pace which is leading to the up-gradation of the society, improving the buying power of the people as the economies become stronger. Thus, progress in the lifestyles of the consumers is likely to bring in the concept of healthy eating. promoting the market of canned seafood in the region.
- Canned seafood has a long shelf life even when stored at room temperatures. Countries like China, Japan, and South Korea have a traditional significance of fish in their cultures and therefore, the high demand for fish in the countries is likely to foster the growth of the market.
- The Asia Pacific market is expected to be witness a significant demand for canned seafood in the near future owing to the rising health concerns as a result of excessive consumption of red meat.
Asia Pacific Canned Seafood Industry Segmentation
The Asia Pacific canned seafood market is segmented by product type into canned fish, canned shrimp, and other canned fish. The canned fish segment is further divided into tuna, salmon, and other canned fish types. Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels. The market is also classified by geography into China, Japan, South Korea, Australia, and Rest of Asia Pacific region.
| By Product Type | |||||
| |||||
| Canned Shrimp | |||||
| Other Canned Fish |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |
| China | |
| Japan | |
| South Korea | |
| Australia | |
| Rest of Asia Pacific |
Asia Pacific Canned Seafood Market Size Summary
The Asia Pacific canned seafood market is poised for significant growth, driven by the region's rapid economic development and increasing consumer purchasing power. As lifestyles evolve, there is a growing trend towards healthy eating, which is bolstering the demand for canned seafood. The long shelf life of canned seafood, even at room temperature, makes it an attractive option for consumers. Countries like China, Japan, and South Korea, with their cultural affinity for fish, are experiencing heightened demand, further propelling market expansion. The rising health concerns associated with red meat consumption are also contributing to the increased interest in canned seafood. Tuna, in particular, remains a popular choice due to its versatile flavor profile, although there is a noticeable shift towards other seafood varieties, such as shellfish, prompting manufacturers to innovate and diversify their product offerings.
In Australia, despite the abundance of fresh seafood, canned and frozen fish are among the most purchased seafood products, with a strong emphasis on sustainability. The majority of Australians prioritize sustainably sourced seafood, with many willing to pay a premium for certified products. This preference is reflected in the popularity of supermarkets like Coles, which offer MSC-certified frozen and canned seafood. The market's growth is further supported by the expansion of global companies into emerging economies within the region, catering to the increasing demand for convenient and healthy food options. Both regional private-label and global brands hold significant market shares, with geographical expansion and product innovation being key strategies for capturing a larger consumer base.
Asia Pacific 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 Product 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 Shrimp
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2.1.3 Other Canned Fish
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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 China
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2.3.2 Japan
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2.3.3 South Korea
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2.3.4 Australia
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2.3.5 Rest of Asia Pacific
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Asia Pacific Canned Seafood Market Size FAQs
What is the current Asia Pacific Canned Seafood Market size?
The Asia Pacific Canned Seafood Market is projected to register a CAGR of 6.89% during the forecast period (2024-2029)
Who are the key players in Asia Pacific Canned Seafood Market?
Tri Marine Group, Tropical TC Boy Sdn Bhd., Kyokuyo Co., Ltd, StarKist Co. and Maruha Nichiro Corporation are the major companies operating in the Asia Pacific Canned Seafood Market.
