Report ID: UCMIR30I2083 | Region: Regional | Published Date: April, 2023 | Pages: 165 | Tables: Figures:
Europe Amino Acid Market
Global Canned Tuna Market Size, Share, Growth Analysis, By Product(Skipjack, Yellowfin), By Distribution Channel(Hypermarket & Supermarket, Specialty Stores) - Industry Forecast 2023-2030
Report ID: SQMIG30I2072 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 62 | Figures: 75
Global Canned Tuna Market Insights
Canned Tuna Market size was valued at USD 10.26 billion in 2021 and is poised to grow from USD 10.61 billion in 2022 to USD 15.1 billion by 2030, growing at a CAGR of 4.15% in the forecast period (2023-2030).
The sector is predicted to be significantly impacted by changing customer tastes for seafood in diverse cuisines due to its abundance in vital proteins, vitamins, and minerals. Additionally, tuna has a flavour that is highly excellent and unique from that of other seafood, which contributes to the product's widespread popularity. Due to its delicious flavour, nutritional value, and lower carbon footprint than other meat and cattle products, seafood consumption has been rising considerably over the past several years all over the world. But one of the top five seafood dishes consumed worldwide is tuna.
The U.S. and European nations consume the most canned tuna, although certain Asian nations, including South Korea, Australia, and Japan, are also leading in consumption. However, because the fish is of such high quality, the majority of the tuna industry, particularly the canned tuna sector, caters to some Asian nations. Thailand, Ecuador, China, Indonesia, and the Philippines were the top exporters of canned and processed tuna, according to data provided by "GLOBEFISH," a product, trading, and marketing division of the FAO Fisheries and Aquaculture Department. However, the top importers of canned and processed tuna were the United States, Japan, Australia, Egypt, Saudi Arabia, and European nations.
The factors driving market expansion and influencing customer behaviour that lead to the canned tuna sales in the international market are high product demand, rising output, and extensive application in the food industry. Since canned tuna is a cheap source of protein and is available in approximately 70 countries worldwide, it is a commonly consumed food. Consuming tuna has health benefits because it contains a lot of vitamin B12, which is needed to make DNA.
US Canned Tuna Market is poised to grow at a sustainable CAGR for the next forecast year.
To get more reports on the above market click here to Buy The Report
Global Canned Tuna Market Segmental Analysis
The global canned tuna market is segmented based on the product, distribution channel, and region. Based on the product, the global canned tuna market is segmented as skipjack, yellowfin. Based on the distribution channel, the global canned tuna market is segmented as hypermarket & supermarket, specialty stores, online. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Canned Tuna Market Analysis by Product
In terms of volume, Skipjack canned tuna accounted for more than 55.0 percent of all sales in 2020. This species has a robust and nutrient-rich seafood experience and is easily accessible in the market. The majority of the skipjack tuna caught, or about 58.0 percent of the entire catch, is canned, according to data from Fish20.org. The Centre for the Promotion of Imports' figures show that skipjack species make up 75.0% of the canned tuna imported into Europe.
In terms of revenue, Yellowfin is expected to experience the fastest CAGR of 5.0 percent between 2021 and 2027. Because of its outstanding texture and rich flavour, this kind of tuna is becoming more and more popular with consumers.
Canned Tuna Market Analysis by Distribution Channel
Due to the extensive availability of a variety of products under one roof, supermarkets and hypermarkets are the preferred channel for consumers to buy both essential and non-essential goods. Customers' shopping experiences are improved by the existence of product-specific aisles and the different bundling options provided by mass merchandisers. Additionally, because different tuna items are offered in a variety of brands and pricing points, it makes shopping easier. Rapid urbanisation and changing lifestyles have resulted in the establishment of numerous new mass merchandisers, which have caught the attention of customers. The canned tuna market has benefited from the introduction of baked goods free of allergens and gluten. To give consumers a convenient and economical shopping experience, marketers are concentrating on growing the modern commerce and retailing industries. Due to consumer exposure to a variety of online product purchasing platforms, the online retail industry is likewise growing in popularity. Online retail offers a wide selection of goods from many different brands at lower prices, as well as the convenience of doorstep delivery alternatives.
To get detailed analysis on other segments, Request For Sample Report
Global Canned Tuna Market Regional Insights
One of the top five fish species consumed worldwide, tuna is a well-liked seafood. It is one of the fish with the highest commercial worth worldwide. The two countries that consume the most tuna in cans are the European Union and the United States. The greatest market for tuna suitable for sashimi is Japan. Major nations that export processed canned tuna include Thailand, Indonesia, the Philippines, and Vietnam. The USA, Italy, Spain, France, the United Kingdom, Germany, Japan, Australia, the Netherlands, and Saudi Arabia are major tuna importer countries. Italian canned tuna is among the most popular seafood in the US, increasing industry demand. Italian manufacturers of several industry brands' distinctive product lines include Angelo Parodi Ventresca. Yellowfin Callipo Italian Canned Tuna contains firm textured meat, whereas Tonnino Tuna Fillet offers canned light tuna with tuna fillets in spring water that are ideal for salads. Yellowfin tuna in oil gives tuna a buttery flavour.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Canned Tuna Market Dynamics
Canned Tuna Market Driver
- Due to the ease of preparing that ready-to-cook and ready-to-eat food products provide, consumers rely heavily on them. The widespread use of canned tuna is a result of the growing number of working women and the reduction in time spent cooking. Due to their ease of preparation, nutritional value, and reduced time required for food preparation, the millennial demographic is extremely attracted to these convenience food items. To better serve consumers and offer them high-quality products, many firms are concentrating on the introduction of new products and certifications.
Canned Tuna Market Restraint
- Canned tuna market expansion has been hindered by customers' increased preference for plant-based foods. Consumers are gravitating toward plant-based products as a result of their growing worries about the environment and animal welfare. The greater use of plant-based products is also a result of the growing vegan movement in developing countries. The availability of a variety of plant-based fish meat substitutes and their high level of flavour and taste conformity have also influenced consumers to choose them.
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Global Canned Tuna Market Competitive Landscape
Due to various strict rules by European and North American nations, the canned tuna market is quite divided. The global canned tuna market has many companies, but only a few of them are able to meet the majority of consumer demand. These top players control a large portion of the markets in Europe, North America, and Asia Pacific.
Top Players in the Global Canned Tuna Market
- Thai Union Group
- Dongwon Industries
- Bumble Bee Foods
- StarKist
- Princes Group
- Wild Planet Foods
- Ocean Brands
- Grupo Calvo
- Crown Prince Inc.
- American Tuna Inc.
- Century Pacific Food Inc.
- Natural Sea
- HAGOROMO FOODS CORPORATION
- Azzopardi Fisheries Ltd
- John West Foods Ltd
- Tonnino Tuna
- Henry & Lisa's Natural Seafood
- Fish4Ever
- Clover Leaf Seafoods
- Bohn's Best Canned Seafood
Canned Tuna Market Recent Developments
- In January 2022, The Calvo Group's Nostromo brand of Italian canned tuna fish has unveiled a stylish new package that uses genuine peel technology. When prepared using this method, the final product, known as "Apri gira facile" tuna, has no inner rim and may be placed directly onto the dish without the need for a fork, preventing food waste.
- In December 2021, the acquisition of "Ligo," a company noted for its premium sardines and other marine products, was announced by Century Pacific Food, Inc., a food and beverage company with its headquarters in the Philippines.
- In August 2021, The Bolton Group of Italy has purchased Wild Planet Foods, a market leader in canned fish. Bolton Group and Wild Planet will work together to establish a supply chain that is extremely ethical.
Global Canned Tuna Key Market Trends
- Due to advancements in the e-commerce sector, manufacturers are concentrating on the online stores by marketing their products more aggressively online and selling their goods on online marketplaces. With greater knowledge of the advantages of tuna, there is a rising demand for canned tuna. The businesses also provide certified goods and make tuna cans recyclable. Businesses are putting an emphasis on fostering safety and openness.
- Tuna consumption has increased as a result of people incorporating more high-nutrition foods into their diets on a daily basis to promote healthy functioning. Due to its high protein content and practical use, consumers are drawn to eating tuna. Healthy fatty acids found in tuna are essential for growth and development and are frequently suggested to expectant and nursing mothers as a way to meet their nutritional needs. Tuna is widely available and is consumed more frequently, which presents the market with several prospects for expansion.
Global Canned Tuna Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global canned tuna market analysis, the tuna industry has seen a radical shift recently as a result of heightened competition in production and pricing, advancing technology, and shifting consumer demand. The demand for ready-to-eat foods is rising as a result of people's busy schedules, with canned tuna being a common option. Presently, the world's largest importer of canned tuna is the European Union. Middle Eastern nations including Saudi Arabia, Israel, and Egypt have become some of the biggest tuna importers in the world. This is a result of the Middle East's relatively low import taxes on canned tuna. The longevity of canned tuna is another factor in its popularity and high demand.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 10.26 billion |
| Market size value in 2030 | USD 10.61 billion |
| Growth Rate | 4.15% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Canned Tuna Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Canned Tuna Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Canned Tuna Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Canned Tuna Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Canned Tuna Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Canned Tuna Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
SPEAK TO AN ANALYSTSubscribe & Save
Get lifetime access to our reports
Basic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
USA (+1) 617-230-0741
