PUBLISHER: Market Research Future | PRODUCT CODE: 1578146
PUBLISHER: Market Research Future | PRODUCT CODE: 1578146
Global Canned Tuna Market Research Report Information by Type (Skipjack Tuna, Yellowfin Tuna, Albacore Tuna, and Others), by Distribution Channel (Store-Based, and Non-Store-Based), and By Region (North America, Europe, Asia-Pacific, and Rest of the world) - Forecast Till 2030
In 2021, the tinned tuna market was estimated to be worth USD 10,258.36 million. The tinned tuna market is anticipated to experience a compound annual growth rate (CAGR) of 4.51% from 2022 to 2030, resulting in a total market value of USD 15,103.07 million. The constant demand for canned tuna is fueled by the increasing integration of high-nutritious foods into daily diets and the expansion of e-commerce companies.
In recent years, canned tuna has gained popularity as a result of its exceptional nutritional value and simplicity of preparation. Tuna is a lean fish that is abundant in protein, omega-3 fatty acids, vitamins, and minerals. It is also a popular option for individuals who are trying to maintain a healthy lifestyle, as it is low in fat and calories. The convenience of tinned tuna is one of the primary factors contributing to its increased use in the daily diet. Canned tuna is readily accessible, effortless to prepare, and can be preserved for an extended period. It is suitable for a wide range of dishes, such as pasta, salads, and sandwiches. Furthermore, canned tuna is a cost-effective source of high-quality protein, rendering it an advantageous option for those with limited financial resources. It is also an exceptional option for individuals with busy schedules who require a convenient and rapid source of nutrients. The demand for canned tuna is on the rise as it becomes more prevalent in tuna sandwiches and delis.
Market segmentation insights
There are four categories into which the tinned tuna market is divided: skipjack tuna, yellowfin tuna, albacore tuna, and others.
The canned tuna market has been segmented into two distribution channels: store-based and non-store-based.
Perspectives on the region
North America, Europe, Asia Pacific, and the remainder of the world comprise the market. The tinned tuna market in Europe is expected to grow at a compound annual growth rate (CAGR) of 4.36% and will comprise 38% of the market in 2021. It is anticipated that Europe will possess the second-largest market proportion of canned tuna globally. This is a result of the millennial generation's heightened demand. The increasing number of working women and their hectic occupations have led to a decrease in the amount of time spent cooking.
The United States, Canada, and Mexico comprise the North American region. Tuna, specifically canned light tuna, is one of the most frequently consumed cuisines in the United States, with the average individual consuming over 14 pounds annually.
The region's substantial consumer base has resulted in Asia Pacific having the third-largest market share. The regional market has been fortified by the surging millennial population and their expanding preference for convenience foods. The market's demand has increased as a result of the increasing urbanization and the adoption of Western lifestyles.
Saudi Arabia and Egypt are emerging as crucial markets with significant growth potential in previously unexplored Middle Eastern and African countries.
The worldwide canned tuna investigation has identified numerous significant players, including Thai Union Group PCL, Bolton Foods, Grupo Calvo, Ocean Brands, American Tuna Inc., Aneka Tuna Indonesia, Wild Planet Foods Inc., Sea Value PLC, and others.