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Canned Tuna Market Size by Product (Skipjack, Yellowfin), By Distribution Model (Hypermarket & Supermarket, Specialty Stores, E-commerce), By Geographic Scope and Forecast


Published on: 2024-08-05 | No of Pages : 320 | Industry : latest updates trending Report

Publisher : MIR | Format : PDF&Excel

Canned Tuna Market Size by Product (Skipjack, Yellowfin), By Distribution Model (Hypermarket & Supermarket, Specialty Stores, E-commerce), By Geographic Scope and Forecast

Canned Tuna Market Size and Forecast

Canned Tuna Market size was valued at 8.94 USD Billion in 2024 and is projected to reach USD 12.77 Billion by 2031, growing at a CAGR of 4.56% from 2024 to 2031.

  • Canned tuna is a type of fish, primarily from the tuna family, that is preserved through canning which involves cleaning, heating, and sealing in airtight vessels. Tuna is often fried, deboned, then stored in oil, water or brine to extend its shelf life. Canning maintains nutritional content and flavor while making it easier to store and consume. It’s a popular protein source for salads, sandwiches, and other cuisines around the world.
  • This type of tuna is used to make sandwiches, salads, pasta meals, casseroles, and more. Combine it with mayonnaise and vegetables to make a classic tuna salad, or add it to a green salad for added protein. It also works well in wraps, sushi rolls and stuffed peppers or avocados. Tuna melts, tuna noodle casserole, and tuna patties are among popular choices.
  • Canned tuna is versatile and long-lasting, making it excellent for a variety of future applications. You may add it to salads for a quick and protein-rich supper, combine it with pasta for a robust dish, or make tuna sandwiches for a quick lunch. It’s also useful for adding protein to soups and casseroles. With appropriate storage, canned tuna may be preserved for an extended amount of time ensuring that you always have a useful ingredient available.

Global Canned Tuna Market Dynamics

The key market dynamics that are shaping the global canned tuna market include

 Key Market Drivers

  • Health-conscious Consumer Trends Consumers are increasingly interested in protein-rich, low-fat food options as their awareness of health and nutrition grows. Canned tuna which is a lean source of protein and high in omega-3 fatty acids fits well with these health-conscious tastes. The demand for quick, nutritional options helps to drive the canned tuna market forward.
  • Globalization and International Trade The globalization of food supply chains made canned tuna more widely available around the world. International trade agreements and effective distribution networks assure a consistent supply of canned tuna to meet demand in both home and export markets. This globalization aspect promotes in the growth and competitiveness of the canned tuna business.
  • Innovative Product Development Manufacturers are always inventing to accommodate shifting consumer demands and market trends. This includes developing flavored tuna variations, eco-friendly packaging, and convenient single-serve amounts. Also, the introduction of healthier formulations such as low-sodium or organic alternatives, appeals to health-conscious consumers while broadening the market reach of canned tuna.

 Key Challenges

  • Sustainability Concerns Overfishing and bycatch pose serious sustainability challenges for the tuna business. Many tuna species are vulnerable or overfished, raising questions about the industry’s long-term survival. Sustainable fishing techniques and certification schemes seek to address these concerns but implementation and enforcement can be difficult.
  • Supply Chain Disruptions The canned tuna industry is based on complicated global supply chains that include fishing vessels, processing facilities, and distribution networks. Natural disasters, geopolitical tensions, and labor disputes can all have an impact on raw material availability and costs, as well as the efficiency of production and distribution networks making it difficult to meet demand and maintain profitability.
  • Health and Safety Standards Strict health and safety standards control the processing and packaging of canned tuna, particularly in terms of mercury levels and foodborne infections such as histamine. Manufacturers face a problem in ensuring regulatory compliance while preserving product quality and taste.

Key Trends

  • Health and Sustainability There is an increasing consumer demand for healthier and sustainable food options, thereby, boosting canned tuna businesses. In response to which, organizations such as the Marine Stewardship Council are focusing on supplying responsibly sourced products such as tuna caught using pole-and-line fishing or recognized. Additionally, there is an emphasis on delivering tuna with lower mercury levels, which appeals to health-conscious consumers.
  • Convenience and Portability Busy lifestyles are increasing the desire for food options that are both convenient and portable. Canned tuna meets this requirement perfectly providing a ready-to-eat protein source that can be easily integrated into a variety of meals and snacks. Single-serve packaging choices, such as tuna pouches, are gaining popularity among on-the-go consumers seeking quick and convenient meal solutions.
  • E-commerce and Direct-to-Consumer Sales Rise in e-commerce platforms and direct-to-consumer sales channels has altered the sales and marketing of canned tuna and. Many firms are exploiting online platforms to attract a larger audience by providing special bargains, subscription services, and personalized shopping experiences. This move enables businesses to communicate directly with customers, collect useful input and more efficiently adapt their services to shifting demands.

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Global Canned Tuna Market Regional Analysis

Here is a more detailed regional analysis of the global canned tuna market

North America

  • According to Market Research analyst, North America is expected to dominate the Canned Tuna market.
  • North America has dominated the Canned Tuna industry, driven by increased demand for processed and ready-to-eat food products. This tendency is especially noticeable in the United States which is expected to dominate the regional canned tuna industry in the future years. The rising consumption of seafood items in the United States is critical to this upward trend. According to data from the National Fisheries Institute, canned tuna is the second most popular seafood product in the country. In fact, Americans consume nearly 1 billion pounds of canned and pouched tuna each year. This widespread demand for canned tuna emphasizes its importance in the American diet, hence propelling the canned tuna market ahead.
  • As the demand for convenient and nutritious food options grows, canned tuna remains a popular choice among consumers looking for quick and delicious meal solutions. Its adaptability, long shelf life and essential nutritional benefits make it an appealing choice for a variety of dietary preferences and lifestyles. Furthermore, the availability of canned tuna in a variety of flavors and packaging types increases its attractiveness to customers. Canned tuna’s popularity in the North American market is projected to continue and grow in the near future, thanks to its convenience and compatibility with modern lifestyles.

Europe

  • In the Canned Tuna industry Europe region holds a prominent position in terms of both market share and impact. Europe is anticipated to have significant expansion in the worldwide canned tuna market during the forecast period, owing to increased production, notably in countries such as Spain.
  • The region is expected to expand at a considerable compound annual growth rate (CAGR), driven by rising demand for processed and ready-to-eat foods. This trend reflects a growing customer preference for quick lunch options that fit into hectic schedules.
  • Spain, in particular, plays an important role in this expansion. According to the Food and Agriculture Organization of the United Nations, Spain is the world’s leading producer of canned foods and the eighth largest exporter.
  • More than 43% of Spain’s canned fish production is exported, indicating its important contribution to the worldwide market. In terms of value, Spain is sixth in the world. This significant production and export capability puts Spain as a key driver of the European canned tuna industry, adding to the region’s outstanding development prospects throughout the forecast period.

Canned Tuna MarketSegmentation Analysis

The Canned Tuna Market is segmented based on Product, Distribution Channel, and Geography.

Canned Tuna Market, By Product

  • Skipjack
  • Yellowfin

Based on Product, the Canned Tuna Market is classified into Skipjack and Yellowfin. Skipjack canned tuna is anticipated to hold the biggest volume share, topping 55.0 percent. Skipjack’s popularity is due to its widespread availability and appeal as a tasty and nutritious seafood option. Skipjack’s popularity is further supported by figures from the Centre for the Promotion of Imports, which show that Skipjack species account for 75.0% of canned tuna imported into Europe. Skipjack’s strong volume share underscores its vital role in satisfying increased demand for canned tuna, particularly in Europe where ready-to-eat fish items are becoming increasingly popular. As a result, Skipjack remains a primary driver of growth in the worldwide canned tuna market maintaining its dominant position in the sector.

Canned Tuna Market, By Distribution Channel

  • Hypermarket & Supermarket
  • Specialty Stores
  • E-commerce

Based on Distribution Channel, Canned tuna industry is divided into Hypermarkets and Supermarkets, Specialty Stores, and E-commerce. Hypermarkets and supermarkets constituted the largest distribution channel sector. Hypermarkets and supermarkets have a wide range of canned tuna items, giving customers convenience and variety under one roof. Their broad reach and high foot traffic make them perfect for manufacturers looking to increase product visibility and accessibility. As a result, these giant retailers continue to play an important role in canned tuna makers’ distribution and marketing efforts, bolstering their position as the market’s dominant distribution channel.

Canned Tuna Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Based on Geography, the Canned Tuna Market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The demand for canned tuna is projected to rise in Europe and the United States. However, Asian countries such as Japan, Australia, and South Korea have high consumption rates. The exceptional quality of tuna sourced to these regions supports their robust market presence with Asia-Pacific standing out due to its significant import and consumption rates. This geographical distribution emphasizes canned tuna’s global appeal with major market activity focused in both Western and Asian regions, reflecting a wide range of customer tastes and eating habits.

Key Players

The canned tuna market study report will provide valuable insight with an emphasis on the global market. The major players in the market are Bumble Bee Foods, LLC, Star-Kist Co., Thai Union Group PCL, Dongwon Industries Co., Ltd., Chicken of the Sea International, Wild Planet Foods, Crown Prince, Inc., Century Pacific Food, Inc., MW Brands, Tri Marine International, HAGOROMO FOODS CORPORATION, A.E.C. CANNING CO, LTD., American Tuna, Fish4Ever Ltd.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Canned Tuna Market Recent Developments

  • In October 2023, Vgarden Ltd., a food technology company, will produce new canned tuna based on pea protein.
  • In March 2023, Seasogood introduced canned tuna alternatives in Spain. The tuna comes in lemon and black pepper, olive oil, tomato, and natural flavors.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2021-2031

Base Year

2024

Forecast Period

2024-2031

Historical Period

2021-2023

Unit

Value (USD Billion)

Key Companies Profiled

Bumble Bee Foods, LLC, Star-Kist Co., Thai Union Group PCL, Dongwon Industries Co., Ltd., Chicken of the Sea International, Wild Planet Foods, Crown Prince, Inc., Century Pacific Food, Inc., MW Brands, Tri Marine International, HAGOROMO FOODS CORPORATION, A.E.C. CANNING CO, LTD., American Tuna, Fish4Ever Ltd.

Segments Covered

Product, Distribution Channel, and Geography.

Customization Scope

Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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Table of Content

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