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Canned Tuna Market Size to Worth Around US$ 10.04 Bn by 2030

The global canned tuna market size is expected to be worth around US$ 10.04 billion by 2030 from US$ 7.9 bn in 2020, growing at a CAGR of 2.4% from 2021 to 2030.

/EIN News/ -- OTTAWA, June 10, 2021 (GLOBE NEWSWIRE) -- Precedence Research, Announced Report on “Canned Tuna Market (By Product Type: Flavoured, Unflavoured; By End use: B2C, B2B; By Sales Channel: Direct, Indirect; By Tuna Species: Albacore, Skip Jack, Yellowfin, Others; By Type: Ready-To-Eat and Ready-To-Cook) - Global Industry Analysis, Size, Share, Growth, Trends Analysis, Regional Outlook and Forecasts, 2021 - 2030”.

Canned tuna refers to the tuna that has been dried, sealed and heated in the sealed container like as sealed tin can. Canning is a food storage technique, providing a standard shelf life fluctuating from 1 to 5 years. Tuna is low in acidity, with stages at which microbes can thrive. Foods having lesser acidity require disinfection under great temperatures ofup to 130 ° C from a community care view point. Pressurized cooking is important to accomplish temperatures over boiling point. After sterilization, the container may prevent the entry and proliferation of microorganisms within.

Then the process of sterilization, as a preservative, no other approach is effective. For example, only at temperatures over boiling point can the microorganism Clostridium botulinum (which causes botulinum) be removed. To prevent tuna spoilage and increase shelf life, preservation techniques are important. They are deliberate in order to prevent the activity of bacteria from spoilage as well as metabolic fluctuations that lead to loss of the quality of the tuna. The unique bacteria that create the unfriendly odors and tastes related with damaged tuna are spoilage bacteria.

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Growth Factors:

Changing lifestyle patters across the globe which is leading to the nutritious convenience food is major factor driving growth of the canned tuna market. Additionally, working women population is increasing day by day which can have positive impact on the growth of the key market in the near future. Tuna is the rich source of protein and also it is testiest seafood among other which is aging creating huge opportunities for the major market players and boosting growth of the global market. Moreover, increasing consumption of tune owing to its high protein content in the developed countries is another factor to boost growth of the target industry in the near future. Key market players are offering flavored tuna in order to enhance their portfolio which can create lucrative opportunities in the global industry.

Report Highlights:

  • Based on product type the global market is categorized as flavored and unflavored among which the flavored segment will register maximum share in the near future. Flavored canned tuna product type is anticipated to register highest growth rate as well as market share over the forecast period of time. The growth is attributed to its growing consumption especially in the emerging economies across the globe. Sideways the unflavored product type segment will be growing at moderate pace and will fuel growth of the canned tune industry in the near future.
  • Among thetuna species segment skip jack estimated as a dominant segment, along with maximum share in year 2020. The growth is attributed to its rising popularity in the leading countries and developing areas. Along with this the yellowfin segment is anticipated to grow at the noteworthy growth rate and will augment the market revenue.
  • F.C.F. Fishery Co., Ltd (Bumble Bee Foods, LLC) accounted for a significant share of the global canned tuna market.

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Regional Analysis:

The research report deals with the industry prospects of canned tuna products around regions including Europe, North America, Latin America, Asia-Pacific, and Middle East and Africa. North America will dominate the global industry due to augmented intake of the canned tuna in various end use applications, coupled with growing working women population in the countries of the North America especially in the United States and Canada. Furthermore, presence of major companies in the North America and business plans that are executed by the chief players in the nations of North America is prospective to observer significant growth in the aiming industry in the nearby future. Asia Pacific is likely to list the noteworthy CAGR, on account of growing in the demand for the canned tuna in emerging economies. Likewise, utmost of the companies functioning in the market are advancing heavily in order to get the modest edge in the canned tuna market in Asia Pacific. The market in the Europe is expected to hold significant market share and the growth is attributed to the increased demand for the convenience food owing to busy lifestyle especially in the France, Russia, and U.K. of the region. The Latin America canned tuna market is expected to grow at moderate CAGR in the near future.

Key Market Players and Strategies:

The major companies functioning in the worldwide market includes Golden Prize Canning Co. Ltd. JealsaRianxeira SA, Frinsa del Noroeste SA, Centuary Pacific Food, Inc. Albacora S.A. American Tuna, Inc. Wild Planet Foods, Inc. F.C.F. Fishery Co., Ltd, Thai Union Group PCL, Ocean Brands GP (The Jim Pattison Group), among others. Enormous investment in the study of the canned tuna accompanied by strategic collaborations like as mergers, company acquisitions are business approaches commenced by the major companies in the canned tuna market.

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