Market Overview

The global canned seafood market share was valued at USD 30.46 billion in 2024. The market is projected to grow from USD 31.78 billion in 2025 to USD 45.11 billion by 2032, exhibiting a CAGR of 5.13% during the forecast period.

The analysis shows that the market is driven by the long shelf-life of canned seafood products, which offer a convenient and nutritious solution for consumers seeking versatile and quick meals. The rich nutritional composition, affordability, and beneficial health advantages are significant factors boosting global demand.

Major Players Profiled in the Market Report:

• Bolton Group (Italy)
• Century Pacific Foods Inc. (Philippines)
• American Tuna, Inc. (U.S.)
• Crown Prince, Inc. (U.S.)
• Dongwon Enterprises Co. Ltd. (South Korea)
• FCF Co., Ltd. (Taiwan)
• Fishwife Tinned Seafood Co. (U.S.)
• Safe Catch Inc. (U.S.)
• Thai Union Group Inc. (Thailand)
• Trident Seafoods Corporation (U.S.)

Segments

Higher Affordability to Propel Tuna Segment Growth
Based on species, the market is divided into tuna, salmon, sardines, mackerel, and others. The tuna segment holds the largest market share, valued at USD 12 billion in 2024, due to its high protein value, low-calorie content, affordability, and long shelf life.

High Convenience to Drive Retail Segment Expansion
By distribution channel, the market is categorized into HoReCa and retail (supermarkets/hypermarkets, specialty stores, etc.). The retail segment is leading the market, with supermarkets/hypermarkets dominating due to their easy accessibility, broad range of product choices, and the convenience of a centralized shopping location.

Source: https://www.fortunebusinessinsights.com/canned-seafood-market-103806

Drivers & Restraints

Demand for Convenient and Shelf-Stable Foods to Propel Market Growth
The increasing demand for products with a long shelf life is a key market driver. In today's fast-paced world, especially with a rising rate of women in the workforce, consumers are seeking convenient yet nutritious food options. Canned seafood provides a ready-to-cook solution that saves time and is an affordable source of animal protein, stimulating market growth.

However, the strong consumer inclination toward veganism and plant-based diets may hamper market growth. Growing concerns for animal welfare and the environment are shifting some consumers away from animal-sourced products, presenting a challenge to the market.

Regional Insights

High Seafood Consumption Traditions Propel Market Growth in Asia Pacific
Asia Pacific dominated the market with a 58.6% share in 2024 and is the fastest-growing region. This growth is attributed to the traditional significance of seafood in the diets of countries like Japan and South Korea, coupled with significant advancements in aquaculture in China, which boosts supply.

Europe holds the largest market share by value, estimated at USD 17.85 billion in 2024. The region’s growth is driven by consumer preferences for convenience, health benefits, and sustainability, with Spain being one of the largest consumers.

North America is a major market, with the U.S. projected to reach USD 5.38 billion by 2032 due to strong demand for shelf-stable proteins.

Canned Seafood Market Future Growth:

The canned seafood market is experiencing steady growth, driven by consumer demand for convenience, nutrition, and value. A prominent trend is the rising demand for kid-friendly products, leading companies to launch new lines with appealing packaging and minimal preservatives. Technological advancements in monitoring and tracing are also creating opportunities for sustainable fishing practices, enhancing brand transparency and trust. As the demand for ready-to-eat meals continues, companies are innovating with new product lines, such as exotic seafood variants and sustainably sourced options, to capture a wider consumer base.

Competitive Landscape

Growing Adoption of Sustainable Practices to Propel Market Growth
The market features prominent players such as Thai Union Group Inc., Bolton Group, and Century Pacific Foods Inc. The market is semi-consolidated, with leading companies focusing on strategies like new product development, mergers and acquisitions, and adopting sustainable fishing practices to expand their offerings and strengthen their global presence. These players are actively catering to evolving consumer needs by launching innovative and exotic seafood variants, which fuels market growth.

Key Industry Development

January 2024 – Norway-based canned seafood manufacturer, King Oscar, launched a new product line of Atlantic salmon in extra virgin olive oil. The skinless and boneless fish products are available in three varieties in the U.S. market.