Canned Tuna Market (By Product Type: Flavoured, Unflavoured; By End use: B2C, B2B; By Sales Channel: Direct, Indirect; By Tuna Species: Albacore, Skip Jack, Yellowfin, Others; By Type: Ready-To-Eat and Ready-To-Cook) - Global Industry Analysis, Size, Share, Growth, Trends Analysis, Regional Outlook and Forecasts, 2022 - 2030

The global canned tuna market revenue was estimated at US$ 29.88 billion in 2021 and is expected to reach over US$ 40.47 billion by 2030, poised to grow at a CAGR of 3.4% over the forecast period 2022 to 2030..

Growth Factors:

Shifting consumer preferences for seafood in various cuisines on account of being a rich source of essential proteins, vitamins, and minerals are expected to be a key factor driving the industry. Moreover, the taste of tuna is very delicious and distinct from any other seafood, which is why the product is witnessing high demand across the globe. Over the past few years, the consumption of seafood has been increasing significantly across the globe owing to its rich taste, nutritional properties, and fewer carbon footprints as compared to other meat and beef products. However, tuna is one of the top five most consumed seafood items across the globe. In recent years, the tuna industry is witnessing a paradigm shift owing to increasing production and price competition, changing technology, and shifting consumer demand.

European countries and the U.S. are the largest consumers of canned tuna, whereas some of the Asian countries, such as Japan, Australia, and South Korea, are also leading in the consumption chart. However, the majority of the tuna industry, especially the canned tuna sector, is catered to some of the Asian countries as the quality of the fish is excellent.

According to the statistics provided by the ‘GLOBEFISH’, a product, trading, and marketing branch of FAO Fisheries and Aquaculture Department, Thailand, Ecuador, China, Indonesia, and the Philippines were the largest exporters of canned and processed tuna. However, the U.S., Japan, Australia, Egypt, Saudi Arabia, and European countries were the largest importers of canned and processed tuna.

During the coronavirus (COVID-19) pandemic, the demand for canned food, especially tuna, has increased significantly across the U.S. Consumers are increasingly buying this product as it is the cheapest protein available in the market, coupled with higher shelf life. These consumer trends are anticipated to boost demand over the forecast period.

Scope of the Canned Tuna Market

Report Highlights

Details

Market Revenue

US$ 40.47 Billion by 2030

Growth Rate

CAGR of 2.4% from 2022 to 2030

Base Year

2021

Historic Data

2017 to 2020

Forecast Period

2022 to 2030

Segments Covered

Product, Sales Channel, End use, Tuna Species, Type

Regional Scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Companies Mentioned

Thai Union Group PCL, Frinsa del Noroeste SA, Jealsa Rianxeira SA, Centuary Pacific Food, Inc., Golden Prize Canning Co. Ltd., Albacora S.A., American Tuna, Inc., Wild Planet Foods, Inc., Ocean Brands GP (The Jim Pattison

Segment Trends:

Flavored Product Type Segment Testified Leading Market Stake in Year 2020

Flavored canned tuna product type is anticipated to register highest growth rate as well as market share over the forecast period of time. The growth is attributed to its growing consumption especially in the emerging economies across the globe. Along with this the unflavored product type segment will be growing at moderate pace and will fuel growth of the canned tune industry in the near future.

Skip Jack Tuna Species Segment Reported Foremost Market Stake in 2020

Skip jack tuna species is expected to account for the major share in the owing to its rising popularity in the leading countries and developing areas. Along with this the yellowfin segment is anticipated to grow at the noteworthy growth rate and will augment the market revenue.

North America is Likely to be the Largest Market for Canned Tuna

The study report offers predictions of canned tuna products around are as counting Europe, Latin America, Asia-Pacific, North America, Middle East and Africa. Canned Tuna market is occupied by North America due to augmented intake of the canned tuna in various end use applications, coupled with growing working women population in the countries of the North America especially in the United States and Canada of North America. Furthermore, presence of major companies in the North America and business plans that are executed by the chief players in the nations of North America is prospective to observer significant growth in the aiming industry in the nearby future. Asia Pacific is probable to list the remarkable CAGR, on account of growing in the demand for the canned tuna in evolving economies owing to increased preferences for the convenience food. Likewise, utmost of the companies functioning in the market are advancing heavily in order to get the modest edge in the canned tuna market in Asia Pacific. Further, the Latin America as will likely to register moderate growth in the coming. Also, Middle East and Africa region is expected to create lucrative growth opportunities in the target industry.

Some of the prominent players in the Canned Tuna Market include:

  • Thai Union Group PCL
  • Frinsa del Noroeste SA
  • Jealsa Rianxeira SA
  • Centuary Pacific Food, Inc.
  • Golden Prize Canning Co. Ltd.
  • Albacora S.A.
  • American Tuna, Inc.
  • Wild Planet Foods, Inc.
  • Ocean Brands GP (The Jim Pattison Group)
  • C.F. Fishery Co., Ltd (Bumble Bee Foods, LLC)

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

By Product Type

  • Flavoured
  • Unflavoured

By End use

  • B2C
  • B2B

By Sales Channel

  • Direct
  • Indirect

By Tuna Species

  • Albacore
  • Skip Jack
  • Yellowfin
  • Others

By Type

  • Ready-To-Eat
  • Ready-To-Cook

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Key Points Covered in Canned Tuna Market Study:

  • Growth of Canned Tuna in 2022
  • Market Estimates and Forecasts (2017-2030)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Canned Tuna and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Canned Tuna Consumption Analysis
  •  Canned Tuna Production Analysis
  •  Canned Tuna and Management