The Middle East and Africa canned seafood market is projected to register a CAGR of 4.34% during the forecast period of 2020-2025.
Key Highlights
- The growth of the Middle East and Africa canned seafood market is driven by wider options of meat products available in the market in the form of fish, prawns, shrimps, and others. Moreover, perceived health benefits from the consumption of seafood is also luring the consumers in the region to purchase canned seafood products.
- Despite the wide availability of fresh meat products available across the countries, consumers are preferring the seafood products in the canned form which possess longer shelf-life, and convenience while cooking.
- Among all the varieties of canned fishes, canned tuna is the best seller in the retail markets of the Middle East and Africa region.
Key Market Trends
Growing Popularity For Seafood Among Meat Products
Across the region, especially in the Middle East countries, there is an increasing demand for sustainably sourced seafood, due to their numerous health benefits. Consumers are seeking other sources of meat products beyond the traditional ones which include chicken, mutton, beef, lamb, etc. Thus, extensive demand for fish, prawns, shrimps, lobsters, crabs, and other seafood products is duly witnessed in the market. Moreover, cans are expected to emerge as a popular packaging medium, with the increased number of canned seafood available in various distribution channels which is driving the canned seafood market.
Notably, countries like Saudi Arabia and the United Arab Emirates have witnessed rising per capita expenditure on seafood products in the past few years.
South Africa Leading The Market
South Africa has emerged as the leading market in terms of consumption of canned seafood products across the region of the Middle East and Africa. Canned seafood has emerged as one of the widely consumed products in the country. On account of its superior properties including a rich source of lean proteins, and other nutrients offered by the products such as omega 3 fatty acids are the key anticipated reasons for increased consumption in South Africa. A few of the key leading brands offering canned seafood products in the country include Lucky Star, John West, Glenryck, Saldanha, and others.
Moreover, owing to rising demand and potential opportunities to grow in the canned seafood market, several retail distributors have come up with private-label brands catering to canned seafood in the market. For instance, South Africa-based multinational retail company Woolworths sells its own extensive range of canned seafood products in its retail outlets and via online delivery.
Competitive Landscape
The Middle East and Africa canned seafood market is highly competetive with several packaged food manufacturers thriving to achieve a higher share in the market by innovating their offerings and widening the distribution of the products in the retail markets all across the region. Few of the key leading players in the market include Saldanha, Oceana Group Limited, Thai Union Group (John West), Bidvest Namibia Fisheries Holdings (Pty) Limited, Goody, Al-Alali, and others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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