The key factors driving the canned tuna market are the growing number of product launches, rising demand for packaged items, and increasing partnerships and acquisitions among companies.
According to TechSci Research report, “Canned Tuna Market– Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F,” the global canned tuna market is expected to grow during the forecast period owing to the factors such as increasing demand for convenience food and packaged products and rising demand for seafood.
A saltwater fish related to mackerel is tuna. It is one of the most consumed fish species in the world and comes in eight different commercial kinds, ranging in size from the small skipjack tuna to the huge bluefin. Fresh tuna can be consumed raw, cooked, or tinned (which is always pre-cooked). In specific to the United Kingdom market, tuna in cans is preserved in varieties such as oil, spring water, sunflower oil, or brine.
Tuna stands out among other fish because of its distinctive flavor, which is why it is so popular all around the world. Due to its flavor, nutritional value, and lower carbon footprint than other meat and beef products, fish consumption has increased dramatically over the past few years.
The rise in health consciousness is the main driving force behind the market's expansion for canned tuna. The market is witnessing a significant shift in customer preferences for seafood due to its high content of important vitamins, proteins, and minerals, which will serve as the primary drivers for the canned tuna market globally. Additionally, the products' lengthy shelf lives and ease of transporting them over long distances drive the canned tuna market globally. Tuna helps to strengthen bones, increases immunity to reduce disease risk, and speeds up metabolism to promote growth. As more people become aware of the advantages of canned tuna, the market will grow favorably. As producers make the product available online to the tech-savvy millennial and gen-Z generations, the demand for canned tuna is also rising. The market for canned tuna will also face challenges from the rising popularity of veganism and plant-based diets as moral and environmentally responsible choices by people who care about animals and the environment.
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The global canned tuna market is segmented based on tuna species, flavor, distribution channel, regional distribution and competitive landscape. Based on tuna species, the market is segmented into skipjack canned tuna, albacore canned tuna, yellowfin canned tuna, bluefin canned tuna, and others. Among these, the skipjack segment holds the leading share in the market and is expected to remain dominant during the forecast period. This species has a rich and nutrient-rich seafood experience and is easily accessible in the market. According to Fish20.org, the majority of the Skipjack tuna caught, or about 58.0% of the entire market, is significantly influencing the canned tuna market.
Based on distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, food specialty stores, online, and others. Among these, the supermarkets/hypermarkets segment holds the leading share in the market during the forecast period. Major producers advertise their goods in physical retail establishments like supermarkets and hypermarkets. In addition, a number of businesses are opening new physical stores around the world to increase their consumer base.
Based on region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Among these, the Europe region holds the leading share in the market and is likely to remain dominant during the forecast period due to customers' growing preference for ready-to-eat, and practical seafood options. Some of the biggest consumers of canned tuna in the region include Italy, Spain, and the United Kingdom. Over the projection period, these factors are expected to support the regional market's expansion.
Key market players operating in the Canned Tuna market include:
- Frinsa del Noroeste S.A.
- Thai Union Group Public Company Limited
- Bumble Bee Foods, LLC
- Century Pacific Food Inc.
- Wild Planet Foods, Inc.
- PT. Aneka Tuna Indonesia
- American Tuna, Inc.
- Ocean Brands GP.
- LUIS CALVO SANZ S.A. (Grupo Calvo)
- The StarKist Co.
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“Healthy fatty acids, which are critical for development and growth, are abundant in tuna. The need of meeting nutritional demands is especially important for breastfeeding moms and pregnant women. Demand for tuna is rising as more people adopt the trend of including nutrient-dense foods in their diets on a daily basis to improve their health and functionality. In addition, the rapid expansion of e-commerce platforms has reinforced the supply chain, which is anticipated to benefit the market's revenue growth. Online retail platforms have expanded significantly, making a variety of canned tuna easier to access worldwide.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Canned Tuna Market– Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F Segmented By Tuna Species (Skipjack Canned Tuna, Albacore Canned Tuna, Yellowfin Canned Tuna, Bluefin Canned Tuna, and Others), By Flavor (Lemon, Spicy, Tomato, Picante, Clover Leaf, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Food Specialty Stores, Online, and Others), By Region,” has evaluated the future growth potential of canned tuna globally and provides statistics and information on market structure, size, share, and future growth. The report provides cutting-edge market intelligence and helps decision-makers to make sound investment decisions. Besides, the report also identifies the emerging trends along with essential drivers, challenges, and opportunities present in the market of canned tuna globally.
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