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Canned Tuna Market Covering Sales Outlook, Demand Forecast & Up-To-Date Key Trends

Adriaan Brits

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By 2032, the global canned tuna market is expected to develop at a CAGR of 4.4 percent, reaching a value of US$ 15.0 billion. Tuna species have a lifespan ranging from roughly 10 years and 40 pounds for skipjack tuna to up to 40 years and 1500 pounds for bluefin tuna. Tuna are migratory and predatory fish that may be found in most of the world’s main oceans.

While canned tuna is divided into two categories: white flesh tuna (typically albacore) and light meat tuna (generally skipjack, occasionally yellowfin), canned tuna in the United States is primarily produced by three brands: Starkist, Bumble Bee, and Chicken of the Sea. Though smaller labelled brands are commercially available in the United States, big companies account for over 80% of canned tuna consumed in the country.

Tuna fishing takes place primarily in the Pacific Ocean, while the Atlantic Ocean, Indian Ocean, and Mediterranean Sea also provide significant amounts of canned tuna raw material. Japan, Indonesia, and the Philippines are the top tuna-fishing-yielding countries, while Thailand has become one of the most important tuna-processing hotspots, supplying over a quarter of the world’s canned tuna.

Takeaways from the Market Research

  1. In 2022, the canned tuna market will be worth USD 9.8 billion in sales.
  2. The canned tuna industry is predicted to expand at CAGRs of 4 percent until 2032.
  3. In 2022, global canned tuna demand is expected to increase by 8% year on year (Y-o-Y).
  4. The canned tuna business is expanding, with production expected to reach USD 15.0 billion by 2032.
  5. High product demand, soaring output, and extensive use in the food industry are the elements driving market expansion and influencing consumer behaviour, resulting in canned tuna sales throughout worldwide marketplaces.
  6. Between 2017 and 2021, demand for canned tuna expanded at a 5% compound annual growth rate (CAGR).
  7. The major participants in the sector are predicted to be StarKist Co., Bumble Bee Foods, LLC, Hagoromo Foods Corporation, American Tuna, Inc., and Bolton Alimentari S.p.A.
  8. The canned tuna market, which includes skipjack tuna species, flavoured canned tuna, canned light tuna, solid format, ready-to-cook goods, and B2C sales channels, is in high demand from the food industry.

“Canned tuna, which is fished in nearly 70 nations throughout the world, is one of the most widely consumed meals since it is an inexpensive source of protein. The majority of tuna species are fished in the Pacific Ocean, but the majority of processing plants have lately relocated to Southeast Asia, particularly Thailand and the Eastern Pacific region. According to a Future Market Insights researcher, “the United States, the European Union, and Japan are among the world’s major consumers of canned tuna.”

Competitive Environment

Important canned tuna companies are undertaking research and seeking new strategic collaborations, while key business brands are concentrating on building food industry applications to produce high-quality food and beverage solutions. To acquire market share and attract more clients, the major players are concentrating on new formulations and product improvements.

Bolton Food declared in 2018 that by 2020, it would source 50 percent of its tuna procurements to Greenpeace utilising selective fishing methods and 50 percent of tuna from purse seiners methods, with FAD controls in place.

More Insights Can Be Found Here

Future Market Insights presents an unbiased analysis of the global canned tuna market in its latest report, which includes historical data (2017-2021) and forecast statistics for the forecast period of 2022-2032.

The study covers seven major regions of the world and includes data on tuna species (skipjack, albacore, yellowfin, bluefin, bigeye, and others), flavour (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.

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