| REPORT ATTRIBUTE |
DETAILS |
| Historical Period |
2019-2022 |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Fish Can Market Size 2024 |
USD 1,210.5 Million |
| Fish Can Market, CAGR |
3.60% |
| Fish Can Market Size 2032 |
USD 1,606.36 Million |
Market Overview
The Fish Can Market is projected to grow from USD 1,210.5 million in 2024 to USD 1,606.36 million by 2032, reflecting a compound annual growth rate (CAGR) of 3.60%.
The Fish Can Market is driven by rising consumer demand for convenient and long-lasting seafood options, coupled with increasing health consciousness promoting the consumption of protein-rich fish. Technological advancements in canning processes ensure better preservation and quality, enhancing product appeal. Trends indicate a growing preference for sustainable and eco-friendly packaging, aligning with environmental concerns. Additionally, the expansion of distribution channels, including online retail, boosts market accessibility. These factors collectively propel the growth of the Fish Can Market, ensuring it meets evolving consumer preferences and industry standards.
The fish can market exhibits a robust global presence, with significant contributions from North America, Europe, and Asia-Pacific regions. North America, led by Crown Holdings, Inc. and Silgan Metal Packaging, dominates with advanced packaging technologies. Europe, represented by Ardagh Group and Amcor Plc, focuses on sustainability and innovation. In Asia-Pacific, Toyo Seikan Group Holdings, Ltd. and other regional players drive market expansion through cost-effective production and increasing consumption of canned fish products. This geographical diversity ensures a competitive market landscape, driven by key players’ strategic innovations and regional strengths.
Access crucial information at unmatched prices!
Request your sample report today & start making informed decisions powered by Credence Research!
Download Sample
Market Drivers
Rising Global Population
The increasing global population necessitates a stable and consistent protein source, and canned fish emerges as a reliable solution. As the demand for protein grows, especially in urban areas where fresh fish may not always be accessible, canned fish offers a convenient alternative. Its long shelf life and ease of storage make it an ideal choice for meeting the dietary needs of a burgeoning population. For instance, the world population is projected to reach 8.1 billion in 2024, a 0.91% increase from 2023. Moreover, canned fish products can be distributed widely, ensuring that even remote areas have access to nutritious food options. This expanding demand underscores the vital role of canned fish in addressing global food security.
Health Benefits of Fish
Fish is widely recognized for its rich content of omega-3 fatty acids and other essential nutrients, significantly boosting its demand. Consumers are increasingly aware of the health benefits associated with regular fish consumption, such as improved heart health, cognitive function, and reduced inflammation. For instance, a recent study found that people with higher levels of omega-3 fatty acids, which are abundant in canned fish, had a 13% lower risk of all-cause mortality. Canned fish, packed with these nutrients, provides a practical way to incorporate fish into daily diets without the hassle of preparation. This health-driven demand is further amplified by public health campaigns and nutritional guidelines advocating for increased fish consumption, positioning canned fish as a convenient and beneficial dietary choice.
Convenience and Portability
The convenience and portability of canned fish make it a popular choice among busy consumers. With hectic lifestyles and limited time for meal preparation, consumers gravitate towards food options that are quick and easy to consume. Canned fish fits this need perfectly, requiring no preparation and offering a ready-to-eat solution. For instance, a 3-ounce serving of canned white tuna or sockeye salmon provides about 20 grams of protein, similar to grilled chicken breast, making it a convenient protein source. Whether it’s for a quick lunch at work, a nutritious snack on the go, or a staple in emergency food supplies, canned fish provides unmatched convenience. This portability also makes it a favored option for outdoor activities, travel, and situations where fresh food storage is impractical.
Economic Factors and Global Trade
Economic factors play a crucial role in the rising demand for canned fish. Compared to fresh or frozen fish, canned fish is often more affordable, making it accessible to a broader consumer base. For instance, the affordability of canned seafood is a key contributor to market growth due to the rising cost of living. This cost-effectiveness appeals to budget-conscious consumers and those in lower-income brackets, ensuring that nutritious fish products are available to all. Additionally, the expansion of global trade has significantly enhanced the distribution of canned fish products, reaching diverse markets across the world. Improved logistics and trade agreements have facilitated a steady supply, ensuring that canned fish remains a staple in households globally. The combination of affordability and widespread availability drives the sustained growth of the canned fish market. For instance, the higher shelf life of canned food products is one of the significant factors driving the global market.
Market Trends
Sustainability and Product Innovation
Consumers’ growing concern about sustainable fishing practices is significantly impacting the canned fish market. There’s an increasing demand for products sourced from sustainable fisheries, driven by heightened awareness of environmental issues and the desire to support eco-friendly practices. For instance, 66% of U.S. seafood shoppers consider sustainability an important factor when purchasing seafood products. This trend is compelling manufacturers to adopt and promote sustainable sourcing methods, which, in turn, attract environmentally conscious consumers. Alongside sustainability, product innovation is thriving in the market. Companies are introducing a variety of new flavors, packaging formats, and product types to cater to diverse consumer preferences. For instance, EcoFish’s Freshé brand has launched ready-to-eat tinned meals that combine fish with complementary ingredients like vegetables, legumes, herbs, and spices. Innovations include the introduction of gourmet flavors, such as spicy tuna or herb-infused salmon, and convenient packaging formats that enhance usability and freshness. These innovations not only differentiate brands in a competitive market but also meet the evolving tastes and expectations of consumers.
Health, Convenience, and Market Expansion
The focus on health and wellness continues to drive trends in the canned fish market. Manufacturers are developing products with added nutritional value, such as omega-3 enriched options, to appeal to health-conscious consumers. For instance, 69% of U.S. seafood shoppers cite nutrition and health as primary or important reasons for consuming seafood. This trend is particularly pronounced as more people seek out food products that offer specific health benefits, such as heart health and cognitive function. Concurrently, the demand for convenience has led to the proliferation of ready-to-eat canned fish products, including tuna salads and salmon patties, which offer quick, nutritious meal solutions. The premiumization trend is also notable, with a segment of consumers willing to pay higher prices for high-quality canned fish products featuring unique flavors and premium packaging. Additionally, the market is expanding into new geographic regions, particularly those with growing middle-class populations, enhancing the global reach of canned fish products. For instance, the Asia-Pacific region is experiencing significant growth in canned fish consumption due to rising disposable incomes and changing dietary preferences. E-commerce growth further supports this expansion, as online sales provide consumers with convenient access to a wide range of products. The ease of purchasing canned fish online aligns with modern shopping habits, contributing to the overall growth and diversification of the market.
Market Challenges Analysis
Price Volatility and Competitive Threats
The canned fish market faces significant challenges due to fluctuating fish prices and competition from fresh and frozen fish products. The cost of raw materials, primarily fish, can vary greatly depending on factors such as seasonal availability, fishing quotas, and environmental conditions. These fluctuations can significantly impact production costs and profitability for manufacturers. Companies must constantly adjust their pricing strategies and cost management practices to remain competitive while ensuring product quality and affordability. Additionally, the increasing availability of fresh and frozen fish poses a direct competitive threat to canned fish products. Consumers often perceive fresh and frozen fish as healthier and of higher quality, which can divert demand away from canned alternatives. To address this, manufacturers need to emphasize the benefits of canned fish, such as convenience, long shelf life, and nutritional value, to retain and grow their customer base.
Environmental and Regulatory Challenges
Environmental concerns and regulatory compliance add another layer of complexity to the canned fish market. Ensuring sustainable sourcing of fish is crucial to meet the growing consumer demand for eco-friendly products and to mitigate the environmental impact of fishing practices. However, achieving sustainability can be complex and costly, requiring rigorous adherence to certification standards and investment in sustainable fishing practices. Moreover, the industry must navigate a stringent regulatory landscape that governs food safety, labeling, and environmental impact. Compliance with these regulations can be burdensome and costly, particularly for smaller producers who may lack the resources to efficiently meet these requirements. Furthermore, supply chain disruptions caused by global events, such as pandemics or geopolitical conflicts, can interrupt the supply of raw materials and affect production schedules. Maintaining a resilient supply chain and ensuring continuity of supply are essential for mitigating these disruptions.
Market Segmentation Analysis:
By Capacity:
The fish can market is segmented based on capacity into three main categories: less than 200 gm, 200 to 750 gm, and above 750 gm. The less than 200 gm segment caters to individual servings and convenience packs, appealing to single consumers and those seeking quick meals. The 200 to 750 gm segment is popular among families and bulk buyers, offering a balance between quantity and convenience. Above 750 gm cans are primarily targeted at institutional buyers and large families, where bulk purchasing is economical. These capacity-based segments allow manufacturers to cater to diverse consumer needs, optimizing market reach and profitability.
By Can Type:
The fish can market is further divided by can type into 2 piece cans and 3 piece cans. Two piece cans, known for their seamless structure, are preferred for their durability and better sealing properties, enhancing product shelf life and safety. Three piece cans, with a separate top, bottom, and body, are cost-effective and versatile in terms of production and labeling. This segmentation allows manufacturers to meet specific packaging needs and preferences of different consumer groups, balancing cost-efficiency with quality, and thus enhancing market competitiveness.
Segments:
Based on Capacity:
- Less than 200 gm
- 200 to 750 gm
- Above 750 gm
Based on Can Type:
Based on End Use:
- Food processing industry
- Pharmaceuticals industry
Based on the Geography:
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
Regional Analysis
Europe
Europe dominates the global fish can market, commanding a significant 35% market share. This leadership position is primarily driven by the region’s strong seafood consumption culture, well-established canned fish industry, and consumer preference for convenient, shelf-stable protein sources. Countries like Spain, Portugal, and Italy are at the forefront of this market, with their long-standing traditions of canned fish production and consumption. The European market is characterized by a wide variety of canned fish products, ranging from traditional sardines and tuna to more gourmet options like mackerel and anchovies in premium olive oils. The region’s market growth is further fueled by increasing awareness of the health benefits associated with fish consumption, particularly omega-3 fatty acids. Additionally, the presence of major canned fish manufacturers and their extensive distribution networks ensures wide product availability across Europe. The market also benefits from stringent quality control measures and sustainability certifications, which have bolstered consumer trust in canned fish products. As the demand for convenient, nutritious, and sustainable food options continues to rise, the European fish can market is expected to maintain its leading position, with ongoing innovations in packaging, flavors, and eco-friendly production methods.
Asia-Pacific
Asia-Pacific holds the second-largest share in the fish can market at 30%, with countries like Japan, Thailand, and China being key contributors. The region’s market is driven by a combination of factors, including a traditionally high fish consumption, rapid urbanization, and changing dietary habits. The Asia-Pacific fish can market is characterized by a growing demand for affordable, ready-to-eat seafood options, particularly in densely populated urban areas. Local manufacturers have been quick to adapt to consumer preferences, offering a variety of canned fish products tailored to regional tastes, such as canned mackerel in miso sauce or spicy canned tuna. The market has seen significant growth in the use of canned fish as an ingredient in popular dishes, driving demand in the food service sector. Furthermore, the region’s robust fishing industry and advanced canning technologies have positioned Asia-Pacific as a major exporter of canned fish products globally. As disposable incomes rise and awareness of the nutritional benefits of fish increases across the region, the Asia-Pacific fish can market is poised for substantial growth, with opportunities for both domestic and international players to expand their market presence.
Key Player Analysis
- Crown Holdings, Inc.
- Ardagh Group
- Amcor Plc
- Silgan Metal Packaging
- Massilly Holding S.A.S
- Colep Packaging
- HUBER Packaging Group
- Tinmasters
- Sonoco Products Company
- Trivium Packaging.
- Jean Anid & Fils S.A.L.
- MIVISA ENVASES, S.A.U.
- SARTEN AMBALAJ SAN. VE TIC. A.S.
- Nussbaum Matzingen AG
- Hoffmann Neopac AG
- Toyo Seikan Group Holdings, Ltd.
Competitive Analysis
The fish can market is highly competitive, with leading players like Crown Holdings, Inc., Ardagh Group, and Amcor Plc at the forefront. Crown Holdings, Inc. leverages its extensive technological advancements and global reach to maintain a dominant position. Ardagh Group emphasizes sustainability and innovative packaging solutions, catering to the growing eco-conscious consumer base. Amcor Plc’s strength lies in its versatile and high-quality packaging options, enhancing product shelf life and appeal. Silgan Metal Packaging and Massilly Holding S.A.S also play significant roles, focusing on reliability and efficiency in can production. Regional players such as Toyo Seikan Group Holdings, Ltd. in Asia and Jean Anid & Fils S.A.L. in the Middle East add to the competitive landscape through localized strategies and cost-effective manufacturing. These companies drive market dynamics through continuous innovation, strategic partnerships, and expanding their global footprint, ensuring a robust and evolving industry.
Recent Developments
- In February 2024, Crown Holdings, Inc. expanded in Europe through a Virtual Power Purchase Agreement (VPPA) with Enel Green Power España (EGPE).
- In November 2023, Ardagh Group introduced a new Boston Round beverage bottle through the online sales channel. This helped the organization diversify the product portfolio.
- In June 2022, Mitsubishi Corporation (MC) and Maruha Nichiro Corporation (Maruha Nichiro) announced an agreement to establish a new joint venture company, ATLAND Corporation, that specializes in the land-based production of salmon.
- In June 2022, Seafood Connection Holding B.V. (Seacon), a subsidiary of Maruha Nichiro Corporation, acquired 100% shares of Northcoast Seafoods Ltd. With this acquisition, Northcoast becomes a member of the Maruha Nichiro Group.
- In February 2022, Mowi expanded its range with the launch of two new organic salmon products on the digital grocery service Ocado.
Market Concentration & Characteristics
The fish can market exhibits moderate concentration, with a few leading players dominating the sector. Major companies such as Crown Holdings, Inc., Ardagh Group, and Amcor Plc hold substantial market shares due to their extensive production capabilities and global distribution networks. The market is characterized by a focus on innovation and efficiency, with key players investing in advanced packaging technologies and sustainable practices to meet evolving consumer demands. The industry’s characteristics include a high degree of specialization in can types and sizes, catering to diverse consumer preferences and end-use applications. Market dynamics are influenced by fluctuations in raw material costs, regulatory requirements, and competition from alternative packaging solutions. Despite the competitive environment, high entry barriers exist due to the need for advanced manufacturing capabilities and compliance with stringent food safety standards. This concentration and specialization shape the industry’s landscape, driving both competition and collaboration among market participants.
Shape Your Report to Specific Countries or Regions & Enjoy 30% Off!
Report Coverage
The research report offers an in-depth analysis based on Capacity, Can Type, End Use and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.
Future Outlook
- The fish can market is expected to expand steadily, driven by rising consumer demand for convenient and long-shelf-life food products.
- Advances in canning technology will enhance product quality and sustainability, meeting evolving consumer expectations.
- Increased focus on sustainable fishing practices will shape sourcing and production strategies.
- Growth in emerging markets, particularly in Asia-Pacific, will drive market expansion.
- Innovations in packaging formats and designs will attract premium consumers and enhance market appeal.
- The rising popularity of e-commerce will boost online sales of fish cans, offering greater convenience to consumers.
- Efforts to reduce environmental impact through eco-friendly packaging and processing will become a key market trend.
- The market will see greater diversification with new flavors and product varieties catering to diverse tastes.
- Regulatory changes and stricter food safety standards will influence production and labeling practices.
- Collaboration between industry players and advancements in supply chain management will address challenges and support market growth.
