Market Size – USD 9.10 Billion in 2021, Market Growth – at a CAGR of 5.3%, Market Trends –Growing consumer preference to incorporate high-nutritious food

VANCOUVER, BRITISH COLUMBIA, CANADA, April 10, 2023 /EINPresswire.com/ -- The global canned tuna market size reached USD 9.10 Billion in 2021 and is expected to register a revenue CAGR of 5.3% during the forecast period, according to the latest analysis by Emergen Research. Rapid growth of e-commerce channels to enhance supply chain is a major factor driving growth of the market. Tuna is a rich source of healthy fatty acids, which are essential for growth and development. It is particularly crucial for breastfeeding mothers and pregnant women to satisfy their nutritional needs. Increasing trend of incorporating nutritionally beneficial food into daily diet to improve health functionality, is in turn, increasing demand for tuna. In addition, rapid growth of e-commerce channels has strengthened supply chain, which in turn, is expected to have a positive impact on revenue growth of the market. Online retail platforms have grown substantially and eased availability of a wide range of products across the globe. Moreover, increasing use of internet and smartphones, in general, has created several new opportunities for e-commerce platforms. Establishment of various new malls and specialty stores has further strengthened supply chain, thus increasing the sales of tuna and other processed food products.

Nonetheless, it is anticipated that the growing acceptance of plant-based diets among consumers may impede the expansion of the global market. The adoption of plant-based products has been impacted by customers' growing concerns for animals and the environment. Many plant-based fish meat substitutes are readily available, and people are choosing them because of how much they taste and smell like real fish.

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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

The leading market contenders listed in the report are:

Ocean Brands, Frinsa del Noroeste, Grupo Calvo, Bumble Bee Foods LLC, Jealsa, Thai Union Group PCL, American Tuna Inc., Century Pacific Food Inc., Starkist Co., and Wild Planet Foods Inc

Target Audience of the Global Canned Tuna Market Report:

Key Market Players

Investors

Venture capitalists

Small- and medium-sized and large enterprises

Third-party knowledge providers

Value-Added Resellers (VARs)

Global market producers, distributors, traders, and suppliers

Research organizations, consulting companies, and various alliances interested in this sector

Government bodies, independent regulatory authorities, and policymakers

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Major Geographies Analyzed in the Report:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Market Segmentations of the Canned Tuna Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Canned Tuna market on the basis of product, application, and region:

Segments Covered in this report are:

Product Outlook (Revenue, USD Billion; 2019–2030)

Skipjack

Yellowfin

Albacore

Others

Distribution Channel Outlook (Revenue, USD Billion; 2019–2030)

Hypermarket/Supermarket

Specialty Stores

Online Retail

Regional Outlook (Revenue, USD Billion; 2019–2030)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

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Some Key Highlights From the Report

The skipjack segment is expected to register a significant market revenue growth owing to its array of nutritional qualities. Mercury content of skipjack tuna meat is only 0.144 parts per million. FDA defines skipjack as the best choice due to mercury levels in its flesh and 8-12 ounces of Skipjack should be consumed once a week. Skipjack chunks are high in B-complex vitamins, such as niacin and pyridoxine (B-6), while vitamin E, B12, thiamin, and riboflavin are also abundant.

The hypermarket/supermarket segment is expected to grow at a considerable growth rate. Major manufacturers promote their products at offline retail outlets such as hypermarkets and supermarkets. In addition, several companies are growing their customer base by opening new physical locations around the world.

The Europe market is expected to register a considerable growth rate. The region is expected to contribute heavily because customers are increasingly opting for simple, ready-to-eat, and convenient seafood options. According to a research conducted by European Market Observatory for Fisheries and Aquaculture Products, tuna was the most consumed marine species in Europe in 2020. Major canned tuna consumers in the region are Italy, Spain, and the UK.

Additional information offered by the report:

Along with a complete overview of the global Canned Tuna market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.

The report elaborates on the global Canned Tuna market size and share governed by the major geographies.

It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.

It further presents a detailed description of the company profiles of the key market contenders.

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