NEW
YORK, June 28, 2024 /PRNewswire/ -- The global
canned tuna market size is estimated to grow by USD 3.56 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
almost 3.83% during the forecast
period. Launch of new products is driving market
growth, with a trend towards growth in online retailing.
However, adverse effects associated with overconsumption of
canned tuna poses a challenge. Key market players
include A.E.C. CANNING Co. Ltd., American Tuna Inc., Bumble
Bee Foods LLC, Century Pacific Food Inc., Conservas La Gaviota SL,
Crown Prince Inc., Diavena Ltd., Dongwon Group, Frinsa del Noroeste
SA, Golden Prize Canning Co. Ltd., Jealsa Rianxeira SAU, King Bell
Producer Co. Ltd., LUIS CALVO SANZ
SA, Ocean Brands GP, Otis McAllister Inc., Princes Ltd.,
Private Label Tuna, PT. Bali Maya Permai, Thai Union Group PCL, and
Wild Planet Foods Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Distribution Channel
(Hypermarket and supermarket, Speciality stores, and Online),
Product (Canned skipjack tuna, Canned yellowfin tuna, Canned
albacore tuna, and Other canned tuna), and Geography (Europe, North
America, APAC, Middle East and Africa, and South
America)
|
Region
Covered
|
Europe, North America,
APAC, Middle East and Africa, and South America
|
Key companies
profiled
|
A.E.C. CANNING Co.
Ltd., American Tuna Inc., Bumble Bee Foods LLC, Century Pacific
Food Inc., Conservas La Gaviota SL, Crown Prince Inc., Diavena
Ltd., Dongwon Group, Frinsa del Noroeste SA, Golden Prize Canning
Co. Ltd., Jealsa Rianxeira SAU, King Bell Producer Co. Ltd., LUIS
CALVO SANZ SA, Ocean Brands GP, Otis McAllister Inc., Princes Ltd.,
Private Label Tuna, PT. Bali Maya Permai, Thai Union Group PCL, and
Wild Planet Foods Inc.
|
Key Market Trends Fueling Growth
The global canned tuna market is experiencing significant growth
due to the increasing popularity of online shopping. With more
consumers preferring the convenience of buying products online,
vendors such as StarKist and Bumble Bee are collaborating with
retailers like Amazon and Alibaba to expand their sales channels.
In emerging markets like China,
e-commerce platforms are providing new opportunities for seafood
suppliers to reach tier-2 and tier-3 cities. B2B platforms like
Yorso in Russia are streamlining
supply chains and logistics to ensure seamless delivery of seafood
to consumers. The trend towards online shopping is expected to
continue, driving up sales of canned tuna products
worldwide.
The canned tuna market has seen significant growth in recent
years. Plenty of funds and investments have poured into this
sector. The demand for canned tuna is increasing due to its
convenience and long shelf life. Environmental concerns have driven
the industry to focus on sustainable practices. Annalore and
Skipjack are popular types of canned tuna. The market is
competitive with players like Princte and Fattery vying for market
share. The trend is towards more value-added products like flavored
and organic canned tuna. The sector is expected to continue growing
with technologies like canned tuna in pouch and improved
preservation methods. Canned tuna is a staple food in many
households and its popularity shows no signs of waning.
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Market Challenges
- The global canned tuna market experiences significant demand
due to convenience, affordability, and nutritional benefits.
However, health concerns, particularly the presence of mercury and
heavy metals, limit consumption and growth. Overconsumption
can lead to vision and hearing problems, neurological
abnormalities, and developmental delays. Mercury inhibits cell
growth and can impact fetal development. Children may experience
learning disabilities and nutrient absorption issues. These health
risks may deter consumers and hinder market expansion during the
forecast period.
- The canned tuna market faces several challenges. Production and
supply of canned tuna require large quantities of fish, making
sustainability a significant concern. The use of preservatives and
additives in canned tuna may raise health concerns for consumers.
Additionally, competition from other protein sources, such as
chicken and beef, can impact market demand. Technological
advancements in canning processes aim to improve product quality
and reduce environmental impact. Regulations on labeling and
packaging also pose challenges for manufacturers. Consumers seek
transparency and ethical sourcing practices, adding to the
complexity of the canned tuna market.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This canned tuna market report extensively covers market
segmentation by
- Distribution Channel
- 1.1 Hypermarket and supermarket
- 1.2 Speciality stores
- 1.3 Online
- Product
- 2.1 Canned skipjack tuna
- 2.2 Canned yellowfin tuna
- 2.3 Canned albacore tuna
- 2.4 Other canned tuna
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Hypermarket and supermarket- The Canned Tuna
Market experiences consistent demand due to its versatility and
nutritional value. Businesses produce and distribute this staple
food in large quantities, catering to various industries such as
food service and retail. Its affordability and long shelf life make
it a popular choice for consumers worldwide. Canned Tuna is an
essential ingredient in numerous dishes, contributing significantly
to the global food industry.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The canned tuna market holds significant popularity due to the
seafood's high nutritional value, which includes essential
proteins, vitamins, and minerals. Tuna, a popular choice for meat
alternatives, is rich in protein and fatty acids, making it a
preferred option for those seeking healthy functioning. Canned
tuna's convenience and long shelf life add to its appeal. Seafood
consumption, an integral part of a balanced diet, is linked to
animal welfare concerns. However, the canned tuna industry ensures
ethical sourcing practices to address these issues. High-nutrition
foods, such as canned tuna, play a crucial role in maintaining
overall health.
Market Research Overview
The Canned Tuna Market is a significant sector within the global
fisheries industry. This market caters to the demand for convenient
and affordable protein sources, particularly in regions with high
seafood consumption. The production process involves the use of
advanced technologies to preserve the nutritional value and taste
of the tuna. Various types of canned tuna are available, including
skipjack, yellowfin, and albacore. The market is driven by factors
such as increasing consumer awareness of the health benefits of
fish, growing demand from the foodservice industry, and rising
disposable incomes in developing countries. Additionally, the
market faces challenges such as overfishing, fluctuating raw
material prices, and increasing competition from other protein
sources. The market is expected to grow at a steady pace in the
coming years, driven by these factors and ongoing innovation in the
sector.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Hypermarket And Supermarket
- Speciality Stores
- Online
- Product
-
- Canned Skipjack Tuna
- Canned Yellowfin Tuna
- Canned Albacore Tuna
- Other Canned Tuna
- Geography
-
- Europe
- North America
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio