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(MoneyNewsWire.Net, May 28, 2018 ) Overview
The health advantages offered by canned food akin to essential nutrients side throughout canning method as well as vitamin B, vitamin D and metabolism improvement, is anticipated to drive growth over next eight years. Additionally, high demand for the able to eat food anticipated to translate into a magnified product consumption.
The global Canned Seafood Market is estimated to have a value of USD 17.45 billion in 2016. With a CAGR of 4.29%, the market size is expected to grow rapidly to cross USD 21.53 billion by 2021.
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Drivers and Restraints
A rise within the quality of ready-to-eat food product owing to improvement in distribution infrastructure is anticipated to drive the business growth. Additionally, factors such as dynamical lifestyles plus increasing affordability are possible to drive the business growth over the approaching years. Demand for the merchandise is growing due to a rise within the product consumption attributable to the health advantages plus the adoption of property fish farming techniques adopted by the makers. Additionally, benefits offered by this product as well as extended period, simple cookery, are anticipated to drive growth. The worth of the merchandise is extremely full of the unpredictability within the production level of fishes. Lower financial gain levels of population in developing economies are unable to afford the merchandise that is probably going to hamper business growth.
During 2016, the foremost fashionable medium of distribution of canned food product was convenience stores thanks to the rising urbanization. The convenience stores section can still the biggest marketing throughout the projected amount thanks to the amendment in lifestyles of the urban population.
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Regional Overview
The Asia Pacific accounted for the biggest share of the market followed by Europe and North America. Additionally, high demand for able to eat meals and food product within the region is anticipated to drive the market growth. Moreover, an increase within the demand for prime period food product anticipated to end in a magnified consumption of canned food. The presence of major market players within the Asia Pacific region plus magnified income and gyrating client preferences towards able to consume food is probably going to emerge because the primary issue for market growth over returning years.
The major market contributors for the global Canned Seafood Market are Bumble Bee Seafoods, StarKist Co., Nippon Suisan Kaisha Ltd, Maruha Nichiro Corporation, Icicle Seafoods Inc., LDH (La Doria) Ltd, Thai Union Frozen Products, American Tuna, Inc., Universal Canning, Inc., Trident Seafoods Corporation and Connors Bros. Ltd.
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