The global canned tuna market is expected to grow at a CAGR of 4.4% and exceed US$15 billion in value by 2032 1500 pounds of bluefin. Species. Tuna are considered both a migratory and predatory species and are found in most of the world’s major oceans.Although classified as white meat tuna (usually albacore) and light meat tuna (mainly skipjack tuna, sometimes yellowfin tuna), the canned tuna sold in the US comes primarily from three main brands such as Starkist, Bumble Bee and Chicken of the Sea. Although smaller brands are commercially available in the US, the major players contribute nearly 80% of the country’s canned tuna.
Click to Get Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-14896
However, tuna fishing mainly takes place in the Pacific Ocean, although the Atlantic, Indian and Mediterranean oceans also provide a large amount of tuna canned food. Tuna raw material in terms of yield. Japan, Indonesia and the Philippines are the main countries that produce most of the tuna catch, while Thailand has become one of the main locations of tuna processing plants, accounting for almost 25% of the world’s canned tuna consumption.
Key Findings of Market Study
- The market for canned tuna has a sales value of USD 9.8 billion in 2022.
- The market for canned tuna is expected to grow at a CAGR of 4% until 2032.
- Global demand is forecast for canned tuna in 2022 to grow 8% yoy.• The market for canned tuna is growing with a remarkable push towards $15.0 billion in production by 2032.
- High demand for the product, increasing production and widespread use in the food industry are the factors driving the market growth and will affect consumers. which drives the sale of canned tuna in world markets.
- Demand for canned tuna increased by 5 GR between 2017 and 2021.
- StarKist Co., Bumble Bee Foods, LLC, Hagoromo Foods Corporation, American Tuna, Inc. and Bolton Alimentari S.p.A. They are expected to be the major players in the industry.• The market for canned tuna along with skipjack species, canned flavored tuna, canned light tuna, firm format and ready-to-cook items, the B2C distribution channel, is highly demanded by the food industry with a notable market share.
“Canned tuna is an affordable source of protein and one of the most commonly consumed foods, being fished in nearly 70 countries around the world. Most species of tuna are caught in the Pacific Ocean, but most processing operations have recently relocated to Southeast Asia, particularly Thailand or the eastern Pacific region. The United States, the European Union and Japan are among the top consumers of canned tuna in the world,” says an analyst at Future Market Insights.
Competitive landscape
Major canned tuna brands are conducting extensive research and seeking new strategic partnerships, while major commercial brands are focusing on developing applications in the food industry to develop high-quality food and beverage solutions. The top players focus on new product formulations and innovations to gain market share and attract more customers to the product.
- In 2018, Bolton Food announced that it had committed to sourcing 50% of its tuna from Greenpeace using selective fishing methods and 50% of its tuna using the purse seine method by 2020, with FAD management measures in place.
Get Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-14896
Discover more valuable
information Future Market Insights offers an unbiased analysis of the global canned tuna market in its new report, presenting historical data (2017-2021) and estimation statistics for the forecast period 2022-2032.
The study provides persuasive information based on tuna species (skipjack, albacore, yellowfin, bluefin, bigeye and others), flavor (flavored and unflavored), product type (canned albacore and canned light tuna), format of the product ( regular, pieces, solid, shredded, flaked, fillets and others), format of use (ready-to-cook and ready-to-eat) and distribution channel (B2B / HoReCa and B2C) in the seven main regions of the world.
About Future Market Insights’ Food & Beverage Division
The Food & Beverage team at Future Market Insights provides all the advisory insight and analysis needed to meet the unique business intelligence needs of clients around the world. With a catalog of over 500 reports on the latest food and beverage industry statistics and analysis, the team is happy to help with any business intelligence consulting and research needs.