Canning of food product is a method of preserving food in which the food contents are processed under controlled atmosphere and conditions and sealed in an airtight container. Canning helps in increasing shelf life of a product typically ranging from one to five years, although under specific circumstances it can be much longer than that. Salmon fish has been widely popular since it has a specific taste along with various health benefits that lures the masses. Canned salmon was perceived in order to increase its shelf life plus feasibility to store it and import it to another countries where salmon fish is not easily available owing to lack of resources. Rising popularity of canned salmon among consumers will put the market on necessary thrust and escalate the market CAGR of canned salmon market.
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Canned Salmon Market: Drivers & Restraints
Canned salmon has been gaining popularity amongst the masses due to the fact that such canned salmon are processed to be consumed with or without other food items. Salmon fish provides various health benefits for which it has gained significant popularity amongst it consumers. Health benefits such as enhances heart health, controls blood pressure, helps in growth and development, assist in weight loss and obesity, boost immune system, fire up energy levels, increases blood circulation, cancer prevention, reduces probability of kidney diseases, reduce inflammation, cell membrane damage are associated with consumption of salmon fish. Increase in trade network among various nations. Rise in modern retail outlets, establishments of processed food industry across countries with development of food parks. Increase in investments by budding entrepreneurs in processed food industry are few of the viable factors which is driving the canned salmon market.
Recent research study has revealed that canned salmon consumption can be hazardous to one’s health, illegal fishing of salmon, depletion in salmon population are few possible restraint which can affect the growth of canned salmon market.
Canned Salmon Market: Market Segmentation
The canned salmon market is segmented into four parts based on the product type, distribution channels, and geography. Few possible health benefits which canned salmon fish provides
Based on the product type the canned salmon market is segmented into:
- Sockeye Salmon
- Coho Salmon
- Pink Salmon
- Chum salmon
Based on the type of distribution channels canned salmon market is segmented into:
- Internet Retailing
- Mass Retailers
- Direct Selling
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Canned Salmon Market: Regional Outlook
Regarding geography, canned salmon market has been categorized into five key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. North America is anticipated to witness canned salmon market to register a healthy CAGR during the forecast period. This is due to the very fact that packaged food has a strong demand in North America due to the prevalence of culture where such foods are preferred and moreover canned salmon has been a staple food for North American dwellers. Asia-Pacific represents the significantly higher market share next to North America over the forecast period. Countries in APEJ such as India, China, and Thailand are witnessing significantly higher demand for canned salmons due to increase in consumption of canned salmons among the masses. Western Europe stands next to APEJ for canned salmon market, where the consumers prefers canned salmons for breakfast and salads Eastern Europe has a similar trend alike Western Europe. Japan has been a strong market for canned salmon. The population of Japan have a special liking towards fish and sea products owing to its geography and canned salmon has been one of the favorites for Japanese. MEA and Latin America has also been witnessing affinity for canned salmon and over the forecast period the market of canned salmon will gain significant share in these regions.
Canned salmon Market: Key Players
Some of the key players identified in the canned salmon market are:-
- Equa Seafoods
- Raincoast Trading
- Wild Planet
- Freedom Foods Group Limited
- Peter Pan Seafoods