Canned Seafood Market: Outlook
The canned seafood market is anticipated to expand at a steady CAGR during the assessment period of 2020-2030 on the back of the increasing popularity of fish among a considerable chunk of the populace. The ballooning population numbers and the rising seafood consumption may serve as beneficial factors for the growth of the canned seafood market.
Affordability plays a major role in the growth of the canned seafood market. These products are convenient and are inexpensive. These foods are minimally processed and contain a rich amount of minerals and proteins essential for maintaining the overall health of an individual. For instance, salmon is a treasure house of proteins, essential omega-3 fatty acids, and vitamin B12. Hence, these factors bode well for the growth of the canned seafood market.
Canned seafood is available in a variety of types such as shrimp, salmon, sardines, tuna, prawns, and others. A major shift in food consumption types among a large populace is playing a crucial role in the growth of the canned seafood market. The changing food habits coupled with a hectic lifestyle may prove to be a vital growth contributor for the canned seafood market. Urbanization also brings tremendous growth prospects for the canned seafood market.
The report on the canned seafood market assists the stakeholders to be familiar with the latest developments associated. The study offers a full analysis on various aspects. The report offers a quad-core advantage (Key trends, Extensive industrial analysis, Ubiquitous regional developments, and Latest changes) benefit to the stakeholder. This advantage plays a crucial role in offering the exact information to the stakeholder and CXOs.
Furthermore, the report focuses on the impact of the SARS-CoV-2 pandemic and also on the threats and demerits that may hurt the growth of the canned seafood market. The expansive and detailed observations made by the researchers also shed light on the opportunities and challenges that the canned seafood market is anticipated to face between 2020 and 2030.
Canned Seafood Market: Competitive Insights
The canned seafood market comprises numerous players in the fray for gaining a prominent position among other competitors. The players are in the pursuit of persistent research and development activities for gaining new insights into the products. Expansion activities are also on the top agenda of the players in the canned seafood market. These activities help the players to explore untapped opportunities.
Some well-entrenched players in the canned seafood market are Wild Planet Foods, Tradient Seafood, Bumble Bee Seafoods, Connors Bros Ltd., and StarKist Co.
Canned Seafood Market: Key Trends
The rising influence of sustainable seafood consumption is proving to be a growth accelerator for the canned seafood market. The canning method utilizes smaller fish such as mackerel and sardines. They are lower on the food chain and are large in terms of population. In addition, canned fish is not perishable until they are opened. This aspect ensures minimal food waste. Canned food does not require refrigeration for storage and thus, requires less energy for product preservation.
The growing awareness about the health benefits of canned seafood may serve as growth multipliers for the canned seafood market. Furthermore, canned fish is a great source of calcium. Sardines have more than 40 percent of the daily calcium intake due to the edible bones. Hence, this factor lays a red carpet of growth across the canned seafood market.
Canned Seafood Market: Regional Dimensions
Asia Pacific’s canned seafood market is expected to invite extensive growth across the assessment period of 2020-2030. The increasing demand for ready-to-eat and quick meals in the region may serve as golden opportunities for growth of the canned seafood market. The canned seafood market in Europe may also churn considerable growth.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.