Global Canned Salmon Market 2016-2020

Overview of the global canned salmon market

Technavio’s market research analyst predicts the global canned salmon market to grow at a moderate CAGR of around 4% between 2016 and 2020. Salmon aquaculture is the fastest-growing food production system in the world. As per the recent market studies, the farmed salmon production has increased by about 133% over the past 15 years. There is growing demand for canned salmon across the world due to the various health benefits associated with the consumption of salmon fish. Salmon is considered as a good source of proteins, minerals, and various fatty acids such as omega-3 and omega-6. The surging demand for salmon products has led to the rapid increase in salmon production. The aquaculture production of Atlantic salmon is increasing significantly and is anticipated to increase at a growth rate of around 10% during the forecast period. The latest development in this market is the practice of land-based salmon aquaculture, which confines the fish to indoor tanks, and eliminates interactions between the farmed fish and the external environment.

APAC is the largest region in the canned salmon market in terms of revenue and is anticipated to occupy more than 41% of the overall market during the forecast period. Factors such as the increase in population, growing requirement for protein-rich diets, high disposable income, and changing lifestyles are fueling the demand for canned salmon products in the region. China, India, Japan, Thailand, Australia, Bangladesh, Singapore, and Malaysia are the key revenue contributing countries in APAC. Moreover, the surging demand for fish and seafood products will also be a major growth factor for the market in this region over the next few years.

Competitive landscape and key vendors

The global canned salmon market is extremely fragmented because of the presence of numerous regional and international vendors who compete in terms of price, quality, innovation, service, reputation, distribution, and promotion. Competition in the market will intensify in the coming years with the rising influx of private labels. Owing to the strong market shares of the existing players and large initial capital investments, the entry of new players is difficult over the next four years.

Leading vendors in the market are -

• Austevoll Seafood ASA
• Bumble Bee Foods
• Marine Harvest
• Thai Union Frozen Products Company

Other prominent vendors in the canned salmon market include Beijing Princess Seafood International Trading, Dong Won Fisheries, Empresas AquaChile, Labeyrie Fine Foods, Mogster Group, Princes Group, Sajo Industries, and Tassal Group.

Segmentation by product type and analysis of the canned salmon market

• Farmed canned salmon
• Wild canned salmon

The farmed canned salmon segment dominated the canned salmon market during 2015 and accounted for more than 56% of the total market share. Much of this segment’s growth can be attributed to the rise in salmon aquaculture, which is the industrial production of salmon in a net cage, pond, or contained system. Farmed salmon are preferred over wild salmon as they contain more omega-3 and omega-6 fatty acids than the latter. However, salmon aquaculture is subject to various challenges such as attack by algae blooms, sea lice, and diseases. Also, it can cause various problems such as water contamination and damage to the aquatic ecosystem.

Segmentation by distribution channel and analysis of the canned salmon market

• Convenience stores
• Supermarkets and hypermarkets
• Independent retailers

Convenience stores were the most popular medium of distribution of canned salmon products during 2015 and occupied around 48% of the overall market revenue. The number of convenience stores across other major countries like the US, the UK, and Japan is on the rise owing to increasing urbanization and changing lifestyles. A major portion of the urban population, being pressed for time, will opt for convenience store formats, resulting in higher growth of this segment in the coming years.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global canned salmon market?
• What are the key market trends impacting the growth of the global canned salmon market?
• What are the challenges to market growth?
• Who are the key vendors in the global canned salmon market?
• What are the market opportunities and threats faced by the vendors in the global canned salmon market?
• Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
• What are the key outcomes of the five forces analysis of the global canned salmon market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Canned Food Market 2016-2020
• Global Canned Fruits Market 2016-2020
• Global Frozen Fish and Seafood Market 2016-2020