At 3.97% CAGR, Canned Tuna Market Size to hit USD 14141.8 Million by 2024

Brandessence Market Research

Brandessence Market Research

Canned Tuna Market With Positive Long-Term Growth Outlook 2020-2025

PUNE, MAHARASHTRA, INDIA, September 16, 2021 / — Canned Tuna Market is valued at USD 10767.3 Million in 2018 and expected to reach USD 14141.8 Million by 2024 with the CAGR of 3.97% over the forecast period. The Canned Tuna Market is expected to grow at a significant growth rate due to number of driving factors.

Tuna canning started to create substitute of canned sardines which is now become one of popular seafood products in USA. These are mainly sold in supermarkets or in foodservice outlets, delis, or in tuna sandwiches. The main type of commercial tuna products are albacore or a mixture of skipjack and yellowfin tuna. Light tuna, consists of skipjack and small amounts of yellowfin, and this package is the less expensive product and represents one of the largest portions of canned tuna sales. Generally yellowfin, bigeye, or albacore tuna are sold in retail stores and restaurants as fresh or frozen tuna loins or steaks. High quality or "sushi grade" bigeye and bluefin tuna are expensive and served as luxury foods in high end restaurants and are usually used in sushi and sashimi dishes.

Canned Tuna Market: Market Player Analysis

• American Tuna
• Bumble Bee Foods
• Dongwon Industries
• Thai Union Group
• The Tuna Store
• Wild Planet
• Crown Prince Inc.
• Natural Sea
• Century Pacific Food
• Frinsa del Noroeste
• Hagoromo
• others

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Increasing Awareness Regarding Healthy Food Products is Driving the Global Canned Tuna Market.

Tuna is one of the most widely used seafood products in the world, from which more than 75% of catch tunas are used by canning industry and 25% for direct consumption. As these products can be stored for long time by freezing, by storing it in ultra-low temperature, in air tight cans and can be used easily, the demand of canned tuna is growing in global market. Around 3,300,000 metric tonne canned tunas are sold per year worldwide, making it one of the two most sold sea food of the world. The canned tuna are used as ingredient and main dishes for various food varieties. For example, in USA, about 52% of canned tuna is used for sandwiches, 22% for salads, and 15% for tuna casseroles and dried, prepackaged meal kits. Canned tuna is a great protein source with many nutrients such as selenium and vitamin D, due to which the its demand is always present among the customers who are health conscious. One of the restraining factors is, the tunas are often caught far from where they are processed for canning, so poor temporary conservation can results in decay.

Canned Tuna Market report is segmented on the basis of species type, end user and regional & country level. Based upon type, global canned tuna market is classified as Albacore, Skipjack Tuna, Yellowfin Tuna, Bigeye Tuna, and Bluefin Tuna. Based upon end user, global canned tuna market is classified as foodservice and households. Based upon sales channel, global canned tuna market is classified as direct, indirect, specialty stores, hypermarkets/supermarkets, online retailers and others

The Canned Tuna market research reports segments as follows:

By Type:

• Albacore
• Skipjack Tuna
• Yellowfin Tuna
• Bigeye Tuna
• Bluefin Tuna

By End-user:

• Foodservice
• Households

By Sales Channel:

• Direct
• Indirect
• Specialty Stores
• Hypermarkets/Supermarkets
• Online Retailers
• Others

By Regional & Country Analysis:

• North America
o US.
o Canada
• Europe
o UK
o France
o Germany
o Italy
• Asia Pacific
o China
o Japan
o India
o Southeast Asia
• Latin America
o Brazil
o Mexico
• Middle East and Africa
o Africa
o Rest of Middle East and Africa

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Source: EIN Presswire