The global canned tuna market is set to witness growth at a CAGR of 4.4% and top a valuation of US$ 15.0 Bn by 2032. Tuna species vary in lifespan and species from around lifespan of 10 years and 40-pound skipjack to lifespan of up to 40 years and 1500 pound bluefin species. Tuna are recognized as both migratory and predatory species, found in most of the large oceans worldwide.
While classified as white meat tuna (usually albacore) and light meat tuna (mostly skipjack, sometimes yellowfin), canned tuna sold in the US mainly comes from 3 key brands, such as Starkist, Bumble Bee, and Chicken of the Sea. Though smaller labeled brands are commercially available in the US, but key players contribute to almost 80% of canned tuna in the country.
However, tuna fishing occurs mainly in the Pacific Ocean, though Atlantic Ocean, Indian Ocean, and Mediterranean Sea also contributes a large amount of canned tuna raw material in terms of yield. Japan, Indonesia, and the Philippines are the top countries that produce the most of tuna fishing yield, while Thailand has become one of the major sites of tuna processing plants, contributing almost 25% of canned tuna in the world.
Key Takeaways from Market Study
- The canned tuna market is worth of USD 9.8 Bn sales in 2022.
- The canned tuna market is expected to expand at CAGRs of 4.4% through 2032.
- Global canned tuna demand is projected to grow year-on-year (Y-o-Y) growth of 3.8% in 2022.
- The canned tuna market is growing with a notable boost towards the production to reach USD 15.0 Bn by 2032.
- High product demand, soaring production, and widespread usage in food industry are the factors driving growth of the market and to be the influencing factors among consumers, which is driving sales of canned tuna across global markets.
- Demand for canned tuna grew at 3.5% CAGR between 2017 and 2021.
- StarKist Co., Bumble Bee Foods, LLC, Hagoromo Foods Corporation, American Tuna, Inc., and Bolton Alimentari S.p.A. are expected to be the top players in the industry.
- Canned tuna market along with skipjack tuna species, flavored canned tuna, canned light tuna, solid format, ready to cook items, B2C sales channel are in heavy demand from food industry carrying a notable market share.
“Canned tuna, being an affordable source of protein, is one of the most consumed foods universally, which are fished in almost 70 countries around the world. Most tuna species are caught in the Pacific Ocean, however, majority of processing plants have shifted in Southeast Asia recently, especially Thailand or Eastern Pacific region. The US, European Union, and Japan are among the largest consumers of canned tuna in the world,” says a Future Market Insights analyst.
Competitive Landscape
Key canned tuna brands are conducting several researches and looking for new strategic partnerships, while key business brands are focusing on developing the applications in food industry to generate high quality food and beverage solutions. The top players are focusing on new formulations and product innovations to gain market share and attract more customers towards the product.
Ø In 2018, Bolton Food announced that the company made a commitment to source 50% of its tuna procurements to Greenpeace using selective fishing methods and 50% of tuna from purse seiners method by 2020, having FAD measures management in place.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global Canned Tuna market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on tuna species (skipjack, albacore, yellowfin, bluefin, bigeye, and others), flavor (unflavoured and flavoured), product type (canned white tuna and canned light tuna), product format (plain, chunk, solid, shredded, flakes, fillets, and others), usage format (ready to cook and ready to eat), and sales channel (B2B / HoReCa and B2C), across seven major regions of the world.
Information Source: https://www.futuremarketinsights.com/reports/canned-tuna-market
UpMarketResearch offers a latest published report on “Global Canned Tuna Market Analysis and Forecast 2018-2025” delivering key insights and providing a competitive advantage to clients through a detailed report.
Get Free Exclusive PDF Sample Copy of This Report https://www.upmarketresearch.com/home/requested_sample/7550 Canned Tuna Industry research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period.
Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
The numerical data is backed up by statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, PESTLE analysis and so on.
The generated report is firmly based on primary research, interviews with top executives, news sources and information insiders.
Global Canned Tuna Market: Manufacturers Segment Analysis AMERICAN TUNABumble Bee SeafoodsStartKistThe Tuna StoreWild PlanetAYAMCENTURY PACIFIC FOODConservas OrtizCrown PrinceEqua SeafoodsGiacinto Callipo Conserve AlimentariNATURAL SEAOrganicoPrincesSAFE CATCHThe Clover Leaf Seafoods FamilyWild Selections Market segment by Regions/Countries, this report coversNorth AmericaEuropeChinaJapanIndiaSoutheast AsiaOther regions (Central & South America, Middle East & Africa) On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split intoCanned Albacore TunaCanned Skipjack TunaCanned Yellowfin Tuna By Application, the market can be split intoSupermarkets and HypermarketsConvenience StoresOnline Retailers Buy Canned Tuna Market analysis & forecast 2018-2025 Report along with complete TOC https://www.upmarketresearch.com/buy/canned-tuna-market In this study, the years considered to estimate the market size of Canned Tuna are as follows: History Year: 2013-2017 Base Year: 2017 Estimated Year: 2018 Forecast Year 2018 to 2025 The Report covers in-depth analysis as follows1 Industry Overview of Canned Tuna2 Manufacturing Cost Structure Analysis of Canned Tuna3 Technical Data and Manufacturing Plants Analysis of Canned Tuna4 Global Canned Tuna Overall Market Overview5 Canned Tuna Regional Market Analysis6 Global 2013-2018E Canned Tuna Segment Market Analysis (by Type)7 Global 2013-2018E Canned Tuna Segment Market Analysis (by Application)8 Major Manufacturers Analysis of Canned Tuna9 Development Trend of Analysis of Canned Tuna Market10 Canned Tuna Marketing Type Analysis11 Consumers Analysis of Canned Tuna12 Conclusion of the Global Canned Tuna Market Professional Survey Report 2017 “Canned Tuna Market Analysis and Forecast 2018-2025” report helps the clients to take business decisions and to understand strategies of major players in the industry.
