Canned Salmon Market Value to Exceed $5,431.2 Million by 2030 at a CAGR of 5.1% | Overview of the growth of the main companies and the industry


canned salmon market

People’s shopping habits have changed all over the world due to the recent pandemic due to which, the increase in consumer knowledge

PORTLAND, OR, USA, Jan. 24, 2022 / — Canned Salmon Market by Nature, Type and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030”, Size of the Global Canned Salmon Market was valued at USD 3,199.4 Million in 2020, and is projected to reach USD 5,431.2 Million by 2030, registering a CAGR of 5.1% from 2021 to 2030.”

The canned salmon market size is increasing due to the health benefits associated with salmon consumption. The increase in people’s acceptance of ready-to-eat foods along with the health benefits associated with canned salmon has resulted in a rapid expansion of the market. Globally, the market share of canned salmon is driven by industrial automation and technical improvements in the seafood industry. Compared to other industries, the fish processing company uses less automation technology. Robotics and automation help reduce production costs while improving product quality. Fish and fish products are received, frozen, sorted, sliced, washed, salted, dried, smoked, pressed, cooled and packaged. The handling of these products becomes easy through the use of automated procedures. Such developments are driving the canned salmon market.

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Additionally, robots are expected to reduce the need for highly skilled workers in specialized jobs. As a result, overall canned salmon operational capabilities are expected to increase growth. For example, a company called Collaborative Robotics to foster innovation in seafood handling is working on algorithms for the robotic hand called Sawyer that can be programmed to recognize the perfect texture and smoothness of fish, allowing workers to handle effectively a large number of fish. These types of innovations are expected to drive the market over the forecast period.

According to the FAO, some of the disruptive technologies are notable for the seafood industry, such as blockchain technology, which includes increased visibility and traceability in the fishing sector, as well as the reduction of cases of illegal fishing and forced labour. Such technological innovation in the seafood industry is further driving the growth of the global canned salmon market. Moreover, with the proliferation of the adoption of sensors to monitor environmental changes and the Automatic Identification System (AIS) which provides information on the vessel’s position, speed and navigational status, gives an added advantage to fish catching vessels to improve the accuracy and efficiency of their fish catching. . Such technological push in the fishing and seafood industry is expected to provide a growth impetus to the market.

Additionally, aquaculture is driving the growth of the market. The salmon is either caught in the wild or farmed, it is difficult to determine its origin. As a result, the aquaculture industry has moved forward to improve salmon production to meet the increased demand for canned salmon products. Salmon naturally produces omega-3 fatty acids. However, to enhance salmon’s ability to produce omega-3s, organic feeds such as microalgae oil are used as feeds in salmon farming due to their higher fatty acid content.

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Additionally, technological devices such as underwater robots are used in marine aquaculture. These are specific robots that clean the nets and cages where salmon are caught, and these robots are used specifically in Europe. Moreover, the use of smart boats in wild salmon fishing in the oceans is expected to increase the productivity of catching salmon in its habitat, as these boats are equipped with all the necessary devices that are helpful in catching the targeted fish. These technological improvements and innovations are expected to prosper the canned salmon market.

However, market dependence on raw resources for manufacturing, along with prohibitions or restrictions of geographical areas are just some of the factors limiting the market. For example, in 2017, raw material shortages and rising raw material costs in Indonesia and Thailand led to lower exports to North American, European and Asian markets, which negatively impacted the market. Additionally, due to widespread aluminum shortages, the cost of transportation and other services required for the canning process has increased. Aluminum is widely used for canning fish as it is suitable for all canning operations. As a result, the rising cost of the product influences the purchasing behavior, which may negatively impact the growth of the canned salmon market throughout the forecast period. Additionally, as people become more aware of the benefits of fresh foods, the demand for alternative salmon products has increased.

The canned salmon market industry is segmented on the basis of nature, type, sales channel and region. Based on the canned salmon market forecast by nature, the market is divided into wild and farmed. By type, the market is categorized into fillet, pieces, and minced. By sales channel, the market is segmented into hypermarkets/supermarkets, specialty stores, online stores and others. Regionally, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Some of the key players profiled in the canned salmon market analysis include Thai Union Group PCL, Maruha Nichiro Corporation, Tassal Group Limited, Bumble Bee Foods, LLC, Austevoll Seafood ASA, Crown Prince, Inc., Wild Planet Foods, Inc. ., Mitsubishi Corporation, Vital Choice Seafood & Organics, SPC, Trident Seafoods Corporation., Nippon Suisan Kaisha, Mowi (Marine Harvest), Dongwon Enterprise, Red Chamber Group, Skretting Cargill Aqua Nutrition, Kyokuyo, Charoen Pokphand Foods, Marubeni Corporation, Pacific Seafood, Cooke Aquaculture Inc., Schouw Co., Tri Marine Group, SalMar ASA

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David Correa
Allied Analytics LLP
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