In-Depth Exploration of the Canned Tuna Market: Enriching Industry Understanding, Envisioning Trends, Evaluating Growth Catalysts, and Forecasting Advancements from 2023 to 2031.
Report Ocean has recently released a comprehensive research report on the global Canned Tuna Market. The report offers a detailed analysis of various market characteristics, such as size, growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. It also provides insights into the impact of the COVID-19 pandemic on the market.
What is the value of the Global Canned Tuna Market?
Global Canned Tuna Market is valued approximately USD 8.97 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.7% over the forecast period 2022-2028.
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What are Canned Tuna and their primary function?
Canned tuna is a popular meal since it is a cheap source of protein and is available in approximately 70 countries across the world. The health advantages of eating tuna include a high dosage of vitamin B12, which is essential for DNA synthesis. Shifting customer preferences for seafood in various cuisines due to its high concentration of important proteins, vitamins, and minerals are projected to be a major driving force in the business. Furthermore, the flavour of tuna is particularly excellent and different from other fish, thus the product is in great demand all over the world. Seafood consumption has increased dramatically in recent years due to its great flavour, nutritious benefits, and lower carbon footprints when compared to other meat and beef products. Tuna, on the other hand, is one of the top five most eaten seafood foods worldwide. The tuna sector has seen a paradigm shift in recent years as a result of increased production and price rivalry, new technology, and evolving customer demand. Thailand, Ecuador, China, Indonesia, and the Philippines were the leading exporters of canned and processed tuna, according to information published by the ‘GLOBEFISH’, a product, trade, and marketing department of the FAO Fisheries and Aquaculture Department.
The United States, Japan, Australia, Egypt, Saudi Arabia, and European nations, on the other hand, were the leading importers of canned and processed tuna. According to ‘GLOBEFISH’ figures, Saudi Arabia had a 23.3 percent increase while Egypt saw a 15.0 percent increase in canned and processed tuna imports in 2019 compared to the previous year. European nations and the United States are the major consumers of canned tuna, although Asian countries such as Japan, Australia, and South Korea are also at the top of the consumption ranking. Also, the majority of the tuna business, particularly the canned tuna sector, caters to various Asian nations due to the high quality of the fish. However, adoption of plant based and organic products impedes market expansion throughout the projection period of 2022-2028.
The key regions considered for the Global Canned Tuna Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe has emerged as the industry leader as customers increasingly prefer easy, ready-to-eat, and convenient seafood options. According to the European Market Observatory for Fisheries and Aquaculture Products (EUMOFA), tuna was the most eaten marine species in Europe in 2018. Italy, Spain, and the United Kingdom are among the region’s top canned tuna consumers. These trends are expected to drive regional market expansion throughout the projected period. In terms of revenue, the Middle East and Africa are expected to have the fastest CAGR from 2022 to 2028. New unexplored markets in the Middle East and Africa, such as Saudi Arabia and Egypt, are emerging as key marketplaces with enormous development potential.
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Major market players included in this report are:
- Frinsa del Noroeste S.A.
- Thai Union Group PCL.
- Bumble Bee Foods, LLC.
- Century Pacific Food Inc.
- Jealsa
- Grupo Calvo
- Wild Planet Foods Inc.
- PT. Aneka Tuna Indonesia
- American Tuna Inc.
- Ocean Brands GP
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product:
Skipjack
Yellowfin
Others
By Distribution Channel:
Hypermarket & Supermarket
Specialty Stores
Online
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Canned Tuna market, including:
- What can be expected for the Canned Tuna market in the next decade?
- What are the primary drivers of growth in the global Canned Tuna market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Canned Tuna market vary based on the size of the end market?
- What is the breakdown of Canned Tuna by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Canned Tuna market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Canned Tuna Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Canned Tuna Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Canned Tuna Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Canned Tuna Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Canned Tuna Market.
Our Canned Tuna Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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