Global Tuna Market Report and Forecast 2023-2028

Global Tuna Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global tuna market attained a value of USD 21.97 billion in 2022. Aided by the increasing demand for protein-rich food products and the growing popularity of canned and processed tuna, the market is projected to further grow at a CAGR of 7.5% between 2023 and 2028 to reach a value of USD 33.75 billion by 2028.

Tuna is a saltwater fish belonging to the Thunnini tribe, which includes various species like albacore, yellowfin, bigeye, and skipjack, among others. Tuna is rich in proteins, vitamins, and minerals, while being low in fat. Tuna is consumed fresh, frozen, or processed in various forms, such as canned, smoked, and dried, making it a versatile and convenient option for consumers.

The global tuna market growth is primarily driven by the increasing demand for protein-rich food products, as consumers are becoming more health-conscious and focusing on maintaining a balanced diet. Tuna is a valuable source of lean protein, omega-3 fatty acids, and vital nutrients like vitamin D and selenium, which have a variety of health benefits like strengthening brain function, promoting muscular growth, and improving heart health.

Another significant factor propelling the growth of the tuna market is the growing popularity of canned and processed tuna products. Canned tuna is convenient, has a long shelf life, and can be used in a variety of recipes, making it an attractive option for busy consumers. The rising demand for ready-to-eat and easy-to-prepare food products has resulted in an increase in the consumption of canned and processed tuna, thereby boosting the market growth.

Moreover, the expanding foodservice industry and the increasing number of sushi and seafood restaurants worldwide are positively impacting the global tuna market expansion. Additionally, the rising disposable income levels and the changing consumer preferences towards diverse food options have further supported the market demand.

Market players are introducing new tuna-based products, such as ready-to-eat tuna meals, tuna snacks, and tuna sushi, to cater to the evolving preferences of consumers, which is driving the tuna market growth. Sustainable and convenient packaging solutions, such as recyclable cans and pouches, are being introduced by manufacturers to enhance the appeal of their tuna products, thereby attracting more customers.

Market Segmentation

The market can be divided based on species, product type, production by region, and consumption by region.

Market Breakup by Species

• Skipjack
• Yellowfin
• Albacore
• Bigeye
• Bluefin
• Others

Market Breakup by Product Type

• Canned
• Frozen
• Fresh

Market Breakup by Production by Region

• Japan
• Indonesia
• Philippines
• Taiwan P.C.
• Republic of Korea
• Spain
• Others

Market Breakup by Consumption by Region

• Japan
• United States
• China
• Taiwan P.C.
• Republic of Korea
• European Union
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global tuna companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• American Tuna
• Thai Union Group PCL.
• Wild Planet
• Frinsa del Noroeste S.A.
• Bumble Bee Foods, LLC
• Clover Leaf Seafoods Corp
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.