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Stringent regulations and varying standards around the world, growing competition, inflation estimated to remain above the upper band during the short term in key nations, and fluctuating raw material prices are some of the Canned Tuna market restraints over the forecast period.

Based on type, the market has been segmented as canned, fresh and frozen tuna. Currently, canned tuna dominates the market, holding the largest share.

Canned Tuna Market size was valued at USD 10.26 billion in 2019 and is poised to grow from USD 10.61 billion in 2023 to USD 15.1 billion by 2031, growing at a CAGR of 4.15% in the forecast period (2024-2031).

Due to various strict rules by European and North American nations, the canned tuna market is quite divided. The 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. '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'

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.

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.

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.

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Global Canned Tuna Market

Product ID: SQMIG30I2072