The fish can market forecast indicates a growing shift in consumer preferences towards sustainable packaging solutions. With rising environmental concerns, the demand for eco-friendly packaging is set to surge, driving innovation and growth in the industry. The market is expected to see increased adoption of environmentally responsible options as sustainability becomes a key priority for consumers and producers alike.
NEWARK, DE / ACCESSWIRE / September 10, 2024 / The global Fish Can Market is projected to grow steadily over the next decade, reaching an estimated value of USD 1,261 million in 2024 and expanding to USD 1,853 million by 2034. This growth is driven by increasing consumer demand for canned seafood products, with a particular focus on sustainable and recyclable packaging solutions.
With a projected CAGR of 3.9% from 2024 to 2034, the fish canning industry is poised for consistent growth, particularly in regions with high seafood consumption, such as Europe, North America, and parts of Asia-Pacific.
Understanding the Fish Can Market:
Canned fish products have long been a staple in many households due to their convenience, long shelf life, and nutritional benefits. As global populations continue to rise and the demand for seafood increases, the fish canning industry is evolving to meet consumer preferences for healthy, affordable, and easy-to-store protein sources.
Technological advancements in canning processes and packaging materials, as well as improvements in supply chain management, are expected to contribute to the market's steady growth. Furthermore, the rise of environmentally conscious consumers is pushing manufacturers to adopt eco-friendly and recyclable materials, which will further enhance market expansion.
Growth Drivers
Increasing demand for long-lasting and convenient seafood products.
Rising awareness about the health benefits of fish consumption.
A global shift toward sustainable and recyclable packaging materials.
Technological advancements in canning processes, leading to enhanced product quality and extended shelf life.
Drivers and Opportunities
Several factors are propelling the growth of the global Fish Can Market. Key drivers include the increasing awareness of the health benefits of fish consumption, such as being a rich source of omega-3 fatty acids. Moreover, growing concerns about sustainability have prompted consumers to seek out responsibly sourced and packaged seafood.
Another major opportunity lies in the rising popularity of canned fish in developing markets, where urbanization and changing consumer preferences are boosting demand for convenient, long-lasting food products. Companies that focus on improving product quality and adopting innovative, sustainable packaging solutions are expected to thrive in this evolving market.
Key Takeaways from Fish Can Market Study
The global Fish Can Market is expected to grow at a CAGR of 3.9% from 2024 to 2034.
Rising demand for eco-friendly packaging is driving innovation within the industry.
Europe remains a leading market for canned fish products, driven by high seafood consumption rates.
Technological advancements in canning processes are contributing to increased production efficiency and product quality.
The expanding reach of eCommerce platforms has provided fish can industry leaders with enhanced customer engagement opportunities, boosting brand accessibility and profitability. This shift is creating lucrative investment opportunities, driving demand in the sector.says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Fish Can Market: Report Scope
Countries |
CAGR 2024 to 2034 |
|---|---|
United Kingdom |
1.9% |
United States |
2.2% |
India |
3% |
Germany |
2% |
China |
2.7% |
Component Insights
Fish cans are typically made from materials like aluminum and tinplate, which are valued for their durability and ability to preserve the freshness of the product. Aluminum cans, in particular, are gaining traction due to their lightweight, corrosion-resistant properties, and recyclability, aligning with consumer demand for sustainable solutions. Innovations in can design and easy-open technology have also made canned fish more appealing to consumers.
Market's Prime Determinants of Growth, Trends, and Opportunities
Sustainability Focus: Growing concerns over environmental impact are leading to a higher demand for recyclable materials and eco-friendly packaging in the fish canning industry.
Health-Conscious Consumers: With a focus on nutrition, consumers are opting for fish products due to their rich content of omega-3 fatty acids and other health benefits.
Emerging Markets: Urbanization and lifestyle changes in regions like Latin America and Asia are creating new opportunities for canned fish products.
Technology Integration: Advanced canning technologies and packaging innovations are improving product shelf life and quality, boosting market competitiveness.
Competitive Landscape:
To strengthen their strategic positions, major players in the fish can industry are leveraging expansion tactics such as partnerships, acquisitions, and strategic collaborations. These strategies are proving effective in helping companies secure a more competitive foothold within the market.
Leading competitors are prioritizing new product launches across various packaging sectors, which not only capture consumer interest but also expand the companies' product portfolios. Additionally, startups are increasingly turning to mergers and acquisitions as a way to counter the dominance of key players and enhance their competitive standing.
Recent Industry Developments
In November 2023, Ardagh Group diversified its product range by launching a new Boston Round beverage bottle via its online sales channel. In February 2024, Crown Holdings, Inc. extended its European presence by signing a Virtual Power Purchase Agreement (VPPA) with Enel Green Power España (EGPE).
Key Players of Fish Can Market:
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.
Fish Can Market Segmentation:
By Capacity:
Based on capacity, the sector is segmented into Less than 200 gm, 200 to 750 gm, and above 750 gm categories.
By Can Type:
Two significant categories in the segment are 2 piece can and 3 piece can.
By End Use:
The food processing industry and pharmaceuticals industry are two key end-user industries using fish cans.
By Region:
North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and The Middle East and Africa are the key contributing regions to the industry.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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