The Asia Pacific Canned Salmon Market would witness market growth of 5.4% CAGR during the forecast period (2021-2027).
Canned salmon is known to have a higher shelf life and feasibility with which it could be stored and imported into regions where salmon fish is scarce due to a lack of resources. In addition, manufacturers benefit from the ability to use salmon by-products in a variety of industries, including animal feed, pet food, and as a fat absorber in the meat and confectionery industries, among others. These applications assist manufacturers in minimizing waste and maximizing resource use.
Aquaculture also contributes to the market's expansion. Salmon is either wild or farmed, and its provenance is difficult to determine. As a result, the aquaculture business has progressed in order to expand salmon output in order to meet the rising demand for canned salmon products. Moreover, organic feed, such as microalgae oil, is used as feed in salmon farming to improve the salmon's ability to create omega-3 because of its greater fatty acid content.
The growing popularity of dining in cafés, bars, and restaurants has sparked new seafood product development. The region market would witness bright prospects due to the growing need for shelf-stable products in such channels. Because of its high seafood intake, Japan's demand for canned salmon is exceptionally strong. One of the key drivers for the canned salmon industry is the rapidly growing demand for protein-based goods among health-conscious customers in the country.
The China market dominated the Asia Pacific Canned Salmon Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $315.6 million by 2027. The Japan market is expected to witness a CAGR of 4.8% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 6% during (2021 - 2027).
Based on Nature, the market is segmented into Farmed and Wild. Based on Sales Channel, the market is segmented into Hypermarkets/Supermarkets, Specialty Stores, Online Channels and Others. Based on Type, the market is segmented into Fillet, Chunk, and Minced. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Canned Salmon Market is Projected to reach USD 4.2 Billion by 2027, at a CAGR of 4.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Crown Prince, Inc., Maruha Nichiro Corporation, Tassal Group Limited, Austevoll Seafood ASA (Lerøy Seafood Group ASA), Vital Choice Wild Seafood & Organics (1-800-Flowers.com, Inc.), Trident Seafoods Corporation, Mitsubishi Corporation, Thai Union Group PCL, Wild Planet Foods, Inc., and F.C.F. Fishery Co., Ltd. (Bumble Bee Foods, LLC).
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