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FO20114640 |
Pages: 280 |
Aug 2023 |
Canned Tuna Overview
Due to its ease, adaptability, and nutritional content, canned tuna is an often consumed seafood item. It is produced by processing fresh tuna fish, usually yellowfin, skipjack, or albacore. It comes in a variety of shapes, including pieces, flakes, and solid fillets. There are various steps involved in canning tuna. The tuna is first cooked, cleaned, and deboned. After that, it is placed in cans with water or oil and occasionally salt or other flavourings. To maintain preservation and stop spoiling, the cans are sealed. People are aware of canned tuna's nutritional benefits. It contains a lot of high-quality protein, omega-3 fatty acids, vitamins (including vitamin D and B vitamins), and minerals (like selenium).
Global Canned Tuna Market Analysis
The global canned tuna market size was $19,041.4 million in 2022 and is predicted to grow with a CAGR of 4.6%, by generating a revenue of $29,824.6 million by 2032.
COVID-19 Impact on Global Canned Tuna Market
As people stocked up on shelf-stable foods during the pandemic, demand for canned tuna increased. People sought enduring and convenient food options during lockdowns and other limitations, and canned tuna thus increased in demand. Canned tuna is a common option for pantry essentials due to its non-perishable nature.
Significant changes in consumer behaviour have been brought about by the pandemic, including an increase in home cooking and a focus on convenience and health. With its nutritional content, canned tuna is likely to remain a popular option for customers.
Convenience of Consumption to Drive the Market Growth
Tuna in cans is popular because of how convenient it is to consume. It offers an easy way to add a ready-to-eat protein source to a variety of foods, such as salads, sandwiches, pasta, and casseroles. Consumers looking for quick and simple dinner options will find canned tuna to be an appealing option. It is well known that canned tuna is nutrient-rich. It is a good source of vitamins, minerals, omega-3 fatty acids, and lean protein. People who are concerned about their health look for meals that are nutrient-rich, and canned tuna provides an easy method to supplement a balanced diet with important nutrients.
Environmental Concerns to Restrain Market Growth
For the canned tuna sector, sustainability and environmental preservation are crucial factors. Fish populations and marine habitats can suffer from overfishing, bycatch (unintentional capture of non-target species), and harmful fishing methods. Companies that are not dedicated to responsible sourcing and sustainable fishing practises run the danger of facing tougher restrictions, consumer backlash, and reputational issues. Various governing agencies have enforced health and safety rules on the canned tuna business. These rules guarantee the calibre, security, and conformity to food safety standards of the products as well as the labelling requirements. The operations of canning tuna producers may be impacted, more testing and certifications may be needed, and production costs may rise as a result of compliance with these requirements.
Health-conscious and Convenience-seeking consumers to Drive Excellent Opportunities
Manufacturers of canned tuna have a chance to satisfy consumer demands by focusing more on convenience and health. Offering lower salt levels or alternative flavourings in healthy ready-to-eat options can draw in consumers who are looking for quick, wholesome meal options. The canned tuna market may experience growth as a result of ongoing product innovation. To increase diversity and entice customers, producers might experiment with novel flavours, spice mixtures, and seasoning possibilities. Additionally, offering environmentally friendly cans or pouches can appeal to customers who are concerned about the environment.
To know more about global canned tuna market opportunities, get in touch with our analysts here.
Global Canned Tuna Market Share, by Product, 2022
The skipjack sub-segment accounted for the highest share in 2022. One of the most prevalent tuna species, skipjack tuna, is easily accessible for commercial fishing. It is a dependable source of tuna for the canned tuna business due to its population size and dispersion in tropical and subtropical oceans. Since skipjack tuna is widely available, producers can count on a steady supply. When compared to other tuna species, skipjack tuna is renowned for its comparatively strong resilience and quick growth rate. It is frequently taken via techniques like purse seining, which has less of an adverse effect on the marine ecosystem and cause less bycatch. Its attractiveness to ecologically aware consumers is influenced by the adoption of sustainable fishing techniques and the availability of certifications, such as the MSC certification for skipjack tuna.
Global Canned Tuna Market Share, by Distribution Channel, 2022
The hypermarket & supermarket sector accounted for the highest market size in 2022. Customers have many options thanks to the large selection of canned tuna items available in supermarkets and hypermarkets. They have a wide variety of brands, flavours, packaging styles, and pricing ranges to meet the dietary requirements and consumer preferences. The wide range of products available enables customers to pick the precise canned tuna item that best suits their needs. Supermarkets and hypermarkets use their purchasing power and economies of scale to bargain with canning tuna manufacturers for fair prices. When compared to smaller retail establishments, they can offer consumers competitive prices, making canned tuna more accessible. The aggressive pricing strategy draws in budget-conscious customers and increases sales volume.
Global Canned Tuna Market Share, by Region 2022
One of the biggest markets for canned tuna worldwide is in Europe. The appeal of canned tuna as a practical and adaptable protein source, the availability of canned tuna in a variety of cuisines, and the rise of health-conscious and mobile lifestyles are some of the factors that influence the market size. The chunk, shredded, and flaked tuna product varieties, as well as various flavours and packaging styles, can be used to segment the European canned tuna market. European consumers have a wide range of preferences, which prompts producers to create a variety of products to satisfy different demands and interests.
Competitive Scenario in the Global Canned Tuna Market
Product development and geographic expansion are major strategies in the highly competitive global canned tuna market. For instance, Thai Union Group PLC declared in March 2023 that it would only purchase produce from ships that adopt measures to safeguard marine life from bycatch. This action follows the Sustainable Fisheries Partnership's investigation into the dangers that sharks, turtles, and seabirds face in wildlife fisheries.
Some of the leading canned tuna market players are Frinsa del Noroeste S.A., Thai Union Group PLC, Bumble Bee Foods LLC, Jealsa, Century Pacific Food Inc., Grupo Calvo, American Tuna Inc., Wild Planet Foods Inc., Ocean Brands, and PT. Aneka Tuna Indonesia.
| Aspect | Particulars |
| Historical Market Estimations | 2021 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Product |
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| Segmentation by Distribution Channel |
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| Key Companies Profiled |
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* Taxes/Fees, If applicable will be added during checkout. All prices in USD.
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