Global Canned Tuna Market - 2023-2030

Global Canned Tuna Market - 2023-2030

Market Overview

The Global Canned Tuna Market size reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 4.5% during the forecast period (2023-2030).

Canned tuna is a crucial dietary component for the development of the body, a healthy heart, and a functioning brain. Omega-3 fatty acids, superior protein, vitamins and selenium can all be found in canned tuna. A product with a long shelf life and many nutrients is canned tuna.

Some liquid, such as water or oil, is contained within it. Additionally, it has minimal sodium and cholesterol.

Market Dynamics

Growing Consumer Dependence on Ready-to-cook and Ready-to-eat Food to Support Development of the Market

Consumers are very dependent on ready-to-cook and ready-to-eat food products due to the ease with which they make cooking. The prevalence of canned tuna is due to the increase in the number of working people and the decrease in time spent cooking. Since they are quick and simple to prepare, nutritious and save time on food preparation, the millennial population is highly attracted to these convenience foods.

A lot of manufacturers are concentrating on the introduction of new products and certifications in order to offer consumers high-quality products and to better serve them, which are factors expected to drive market growth.

Rising Demand for Seafood Drives Canned Tuna Demand

The pressing need for implementing environmentally friendly development models was prompted by the growing awareness of climate change, environmental degradation and their serious effects on humanity. As seafood has a lower carbon footprint compared to meat, consumers are shifting to it as their main source of protein. Tuna is a very healthy food.

Omega 3, essential fatty acids, vitamins and minerals found in tuna fish satisfy the needs of the human body in terms of nutrition. Since there is an abundance of tuna in the ocean, processing it is a sustainable practice. Customers can take advantage of a unique taste palette thanks to seafood's strong flavor. Given its status as a convenience food, tuna is among the most prevalent seafood in the world. Due to their availability in ready-to-eat and ready-to-cook forms, they are very well-liked by time-constrained millennials worldwide.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global canned tuna market is segmented based on type, tuna species, distribution channel, and region.

Increasing Demand for Nutrient-Rich Seafood Products

In 2022, the skipjack canned tuna segment accounted for the largest global market share. This species has a rich and nutrient-rich seafood experience and is easily accessible on the market.

According to data from Fish20.org, the majority of the skipjack tuna caught, or about 58.0% of the total capture, is canned. The Center for the Promotion of Imports' statistics shows that skipjack species make up 75.0% of the canned tuna imported into Europe.

Geographical Analysis

The Strong Presence of Vendors and Increased Consumption in North America

The widespread consumption of processed food items and beverages is driving the regional market's rising trend. North America has a developed economy and a sizable population. The number of working professionals in the region has increased significantly. Convenience demand for food is on the rise, an this will support market expansion.

The growth of many global companies' production facilities, especially in the region's major markets like the United States, Canada, and Mexico, has resulted in partnerships with numerous local players, which are factors expected to drive market growth.

Competitive Landscape

The major global players include Frinsa del Noroeste S.A., Thai Union Group PLC, Bumble Bee Foods LLC, Century Pacific Food Inc., Jealsa, Grupo Calvo, Wild Planet Foods Inc., PT. Aneka Tuna Indonesia, American Tuna Inc., and Ocean Brands.

Why Purchase the Report?
• To visualize the global canned tuna market segmentation based on type, tuna species, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of canned tuna market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Canned Tuna Market Report Would Provide Approximately 61 Tables, 59 Figures and 120 Pages.

Target Audience 2023
• Manufacturers/Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies