Global Canned Tuna Market Forecast to 2030
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. The rapid growth of e-commerce channels to enhance supply chains is a major factor driving the 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. The increasing trend of incorporating nutritionally beneficial foods into daily diets to improve health and functionality is, in turn, increasing demand for tuna. In addition, the rapid growth of e-commerce channels has strengthened the supply chain, which in turn is expected to have a positive impact on the revenue growth of the market. Online retail platforms have grown substantially and eased the availability of a wide range of products across the globe. Moreover, the increasing use of the internet and smartphones in general has created several new opportunities for e-commerce platforms. The establishment of various new malls and specialty stores has further strengthened the supply chain, thus increasing the sales of tuna and other processed food products.
The market size, revenue growth, and CAGR from 2022 to 2030 are all addressed in the Canned Tuna Market Analysis. The research also gives significant insights into the top market players, including SWOT analysis, Porter's Five Forces analysis, and feasibility analysis, to give readers a competitive edge. The study focuses on the current epidemic's most recent trends, major challenges, opportunities, and limitations.
Canned tuna is always pre-cooked and therefore can be easily prepared in no time. The hectic lifestyle of the masses is pushing them to consume ready-to-eat meals. It is evident that everyone wants to have a balanced diet without missing out on any beneficial nutrients. But due to time constraints, it gets difficult for many to prepare full-course meals. Convenience foods like canned tuna instantly come to their rescue in such scenarios, as they are not only pre-cooked but are also rich in beneficial nutrients. This, in turn, is adding traction to the development of this industry sphere.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Canned Tuna market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled 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
Research Report on the Canned Tuna Market Addresses the Following Key Questions:
- Who are the dominant players of the Canned Tuna market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Canned Tuna market?
- What are the key growth drivers and restraining factors of the Canned Tuna market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Canned Tuna market and its key segments?
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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.
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
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- China
- India
- Japan
- South Korea
- Rest of APAC
- Brazil
- Rest of LATAM
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
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Regional Landscape section of the Canned Tuna report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- 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)
Key reasons to buy the Global Canned Tuna Market report:
- The latest report comprehensively studies the global Canned Tuna market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Canned Tuna Market report is an exhaustive database that will help readers formulate lucrative strategies. The Canned Tuna Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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