Global Canned Salmon Market Overview
Canned Salmon Market Size was estimated at 15.82 (USD Billion) in 2022.The Canned Salmon Market Industry is expected to grow from 16.4(USD Billion) in 2023 to 22.7 (USD Billion) by 2032. The Canned Salmon Market CAGR (growth rate) is expected to be around 3.67% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Canned Salmon Market Trends Highlighted
The market for canned salmon, owing to the rise in health awareness and demand for convenient protein sources, has an extensive scope for growth and development. There is an increased knowledge of the health benefits of salmon due to its high levels of omega-3 fats that are beneficial for cardiovascular and cognitive functioning. Additionally, rising affluence levels, more so in developing countries, have contributed to increased demand for premium products made using canned salmon.
The new packaging designs, which include single-serve options as well as the inclusion of value-added ingredients that enhance taste and convenience, present emerging opportunities within the canned salmon market. Other than this, there are expanding online retail channels and increasing popularity of meal kit services where market players can find potential new customers.
One notable change in trends within the canned salmon industry is a switch to environmentally friendly products with traceable supply chains and ethical sourcing in response to consumer demands. Also, new packing technologies such as retort pouches and aseptic packaging have extended shelf life while maintaining freshness, thereby making it more popular than ever before as a kitchen staple.
Canned Salmon Market Drivers
Rising Health Consciousness Among Consumers
Recently, it has increasingly become a consumer-driven priority to eat healthy foods that are beneficial for one's overall health. In this connection, canned salmon is a rich source of protein, omega-3 fatty acids, and other important nutrients found health-friendly – for this reason, it is gaining popularity among modern consumers. Thus, an increasing demand for healthy and easy-to-cook food is likely to drive the development of the Canned Salmon Market Industry.
Increasing Popularity of Convenience Foods
The fast-paced lifestyles and busy schedules of consumers are leading to an increased demand for convenience foods. Canned salmon is a convenient and easy-to-prepare food option that can be incorporated into various dishes. The growing popularity of convenience foods is expected to contribute to the growth of the Canned Salmon Market Industry.
Expansion of Retail and Distribution Channels
The retail and distribution channels are increasing at a rapid pace through which canned salmon are made available to consumers. With the increasing number of supermarkets, hypermarkets, and online retailing sites, there is bound to be an increase in the availability and convenience of canned salmon for consumers. Thus, the aforementioned reason is expected to drive the growth of the Canned Salmon Market Industry.
Canned Salmon Market Segment Insights
Canned Salmon Market Preservation Method Insights
The Canned Salmon Market is segmented based on preservation methods into canned, frozen, and fresh. Among these segments, canned salmon holds the largest market share, accounting for over 60% of the market revenue in 2023. The market for canned salmon is primarily driven by its extended shelf life, continued convenience, and affordability. Canned salmon is a non-perishable product that can be stored for years without refrigeration, making it a popular option for pantry storage. It is an almost ready-to-use product that can be added to a wide range of dishes such as salads and sandwiches or pasta, casseroles, etc.The frozen salmon is also expected to witness growth from 2024 to 2032. Frozen salmon offers a longer shelf-life than fresh salmon, enabling the long-distance transportation of the product. Salmon is also considered to be of greater quality than their canned salmon renditions as it retains most of their nutrients and flavor. Moreover, overall demand for frozen seafood is expected to grow as people consider it to be a healthier option1. The fresh salmon segment is expected to grow at the smallest annual growth rate. Fresh salmon has a lesser shelf-life than its counterparts, limiting its distribution and storage options.However, it is preferred by the customers who want the best quality and the freshest salmon.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Canned Salmon Market Packaging Type Insights
The Canned Salmon Market is segmented into various packaging types, such as cans, pouches, and glass jars. Among these, cans have been the traditional and dominant packaging format, accounting for a significant share of the market revenue. Cans offer several advantages, including their durability, cost-effectiveness, and ability to preserve the freshness and quality of the salmon. However, in recent years, pouches have gained popularity due to their convenience, flexibility, and reduced environmental impact. Pouches are lightweight, easy to store, and can be recycled more easily than cans.Glass jars, while less common, provide a premium and aesthetically pleasing packaging option that can enhance the perceived value of the product. The choice of packaging type depends on factors such as product type, shelf life, distribution channels, and consumer preferences, which vary across different regions and market segments.
Canned Salmon Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the Canned Salmon Market, influencing market growth and revenue generation. Supermarkets/hypermarkets hold a significant market share, offering a wide selection of canned salmon products to consumers. Their extensive distribution networks and established customer base contribute to their dominance. Online retailers are gaining traction, capturing a growing share of the market. Their convenience, competitive pricing, and doorstep delivery options make them an attractive choice for consumers.Specialty stores catering to niche markets offer premium and artisanal canned salmon products. They focus on providing specialized knowledge and personalized service to discerning customers. These distribution channels collectively contribute to the overall revenue generation and market expansion of the Canned Salmon Market.
Canned Salmon Market Product Form Insights
The Product Form segment of the Canned Salmon Market is segmented into Whole, Fillets, and Chunks. Among these, the Fillets segment held the largest market share in 2023, accounting for approximately 42.3% of the Canned Salmon Market revenue. The Whole segment is expected to witness the fastest growth over the forecast period, with a CAGR of 4.1%. The increasing demand for convenient and ready-to-eat food products is driving the growth of the Fillets segment. The Whole segment is also expected to benefit from the growing popularity of canned salmon as a healthy and sustainable seafood option.The chunks segment is expected to witness moderate growth over the forecast period, owing to its lower price point compared to the Fillets and Whole segments. Overall, the Product Form segment is expected to witness steady growth over the forecast period, driven by the increasing demand for canned salmon as a convenient, healthy, and sustainable food option.
Canned Salmon Market Salmon Variety Insights
The Canned Salmon Market is segmented into various types of salmon varieties, including Sockeye, Coho, Pink, Chinook, and Chum. Among these varieties, Pink salmon holds the largest market share, accounting for over 50% of the revenue in 2023. Pink salmon is widely consumed due to its mild flavor, affordability, and availability. Sockeye salmon, known for its rich flavor and high nutritional value, follows Pink salmon in terms of market share. Coho salmon, valued for its delicate texture and omega-3 content, also contributes significantly to the market growth.Chinook salmon, the largest of the Pacific salmon species, is prized for its size and premium quality. Chum salmon, with its distinctive pale flesh and mild flavor, is primarily used in canned and processed salmon products.
Canned Salmon Market Regional Insights
The regional segmentation of the Canned Salmon Market presents distinct market dynamics and growth opportunities. North America holds a significant market share due to the high consumption of canned salmon in the United States and Canada. The region is projected to maintain its dominance throughout the forecast period. Europe is another key market, driven by the growing popularity of canned salmon in countries like France, Spain, and the United Kingdom. The Asia-Pacific region is expected to witness substantial growth, fueled by increasing demand in China, Japan, and India.South America and the Middle East and Africa (MEA) regions are expected to contribute a smaller but growing share of the overall market, driven by rising disposable incomes and changing dietary patterns.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Canned Salmon Market Key Players And Competitive Insights
Major players in the Canned Salmon Market industry are constantly looking for ways to gain an edge over their competitors. Leading Canned Salmon Market players are investing in research and development to create new products and improve existing ones. They are also expanding their distribution networks and entering new markets. The Canned Salmon Market industry is expected to witness significant growth in the coming years.One of the leading players in the Canned Salmon Market is. The company has a strong presence in North America, Europe, and Asia. It offers a wide range of canned salmon products, including pink salmon, sockeye salmon, and chum salmon. The company has a strong focus on sustainability and uses environmentally friendly packaging.Another major player in the Canned Salmon Market is. The company is headquartered in Norway and has a strong presence in Europe and North America. It offers a wide range of canned salmon products, including canned salmon fillets, canned salmon steaks, and canned salmon spread. The company has a strong focus on quality and uses only the finest Norwegian salmon.
Key Companies in the Canned Salmon Market Include
- Clover Leaf Seafoods
- Canadian Fishing Company
- Trident Seafoods
- Dongwon Industries
- King Oscar
- James Smokehouse
- Peter Pan
- Empress International
- Brunswick
- TriUnion Seafoods
- Wild Planet Foods
- Bumble Bee Seafoods
- Pacific West Coast Seafood
- Bolton Alimentary
- John West
Canned Salmon Market Industry Developments
The canned salmon market is projected to reach USD 22.7 billion by 2032, exhibiting a CAGR of 3.67% during the forecast period (2024-2032). The increasing popularity of canned salmon as a convenient and nutritious food option is driving market growth.Recent news developments in the market include In January 2023, Bumble Bee Seafoods, a leading canned salmon producer, announced a partnership with the World Wildlife Fund (WWF) to promote sustainable fishing practices. In March 2023, Thai Union Group, another major player in the market, launched a new line of canned salmon products featuring wild-caught, non-GMO salmon. In April 2023, the Alaska Department of Fish and Game reported a record harvest of sockeye salmon, which is expected to boost the supply of canned salmon in the coming months.These developments indicate a growing emphasis on sustainability and quality within the canned salmon market, which is expected to support market growth in the long term.
Canned Salmon Market Segmentation Insights
- Canned Salmon Market Preservation Method Outlook
- Canned Salmon Market Packaging Type Outlook
- Canned Salmon Market Distribution Channel Outlook
- Supermarkets/hypermarkets
- Online retailers
- Specialty stores
-
- Canned Salmon Market Product Form Outlook
- Canned Salmon Market Salmon Variety Outlook
- Sockeye
- Coho
- Pink
- Chinook
- Chum
- Canned Salmon Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
15.82(USD Billion) |
| Market Size 2023 |
16.4(USD Billion) |
| Market Size 2032 |
22.7(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.67% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Clover Leaf Seafoods, Canadian Fishing Company, Trident Seafoods, Dongwon Industries, King Oscar, St. James Smokehouse, Peter Pan, Empress International, Brunswick, TriUnion Seafoods, Wild Planet Foods, Bumble Bee Seafoods, Pacific West Coast Seafood, Bolton Alimentary, John West |
| Segments Covered |
Preservation Method, Packaging Type, Distribution Channel, Product Form, Salmon Variety, Regional |
| Key Market Opportunities |
Growing health consciousness Increasing demand for convenience food Expansion of retail channels Rise in ecommerce Innovation in packaging |
| Key Market Dynamics |
Rising health consciousness Growing popularity of convenience foods Fluctuating fish stocks Increasing consumer demand for sustainable seafood Expansion of retail channels |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Canned Salmon Market was valued at USD 16.4 billion in 2023 and is expected to register a CAGR of 3.67% to reach USD 22.7 billion by 2032.
North America held the largest market share in 2023, accounting for 35% of the market. Asia-Pacific is expected to be the fastest-growing region over the forecast period, with a CAGR of 4.2%.
The growing popularity of canned salmon as a convenient and healthy food source, rising consumer awareness of the health benefits of omega-3 fatty acids, and increasing demand from emerging markets are the key drivers of growth in the Canned Salmon Market.
Key competitors in the Canned Salmon Market include Bumble Bee Foods, LLC, Tri Union Seafoods LLC, Thai Union Group PCL, and Maruha Nichiro Corporation.
Major applications of Canned Salmon include sandwiches, salads, pasta dishes, and casseroles. Canned salmon is also used as an ingredient in pet food.
Challenges facing the Canned Salmon Market include fluctuations in raw material prices, competition from other seafood products, and concerns about sustainability.
Opportunities for growth in the Canned Salmon Market include the rising popularity of online grocery shopping, the development of new product innovations, and the expansion into new markets.
Key trends in the Canned Salmon Market include the increasing demand for sustainable and ethically sourced products, the growing popularity of plant-based alternatives, and the rising adoption of e-commerce platforms.
The Canned Salmon Market is expected to grow at a CAGR of 3.67% from 2024 to 2032, reaching a value of USD 22.7 billion by 2032.
Major factors influencing the growth of the Canned Salmon Market include rising consumer awareness of the health benefits of omega-3 fatty acids, increasing demand from emerging markets, and the growing popularity of online grocery shopping.
