ID: MRFR/F-B & N/8857-HCR | 90 Pages | Published By Snehal Singh on March 2023
Canned Tuna Market is projected to reach USD 9.16 Billion by 2027 at a CAGR of 4.2% from 2020-2027.
As per the research reports by MRFR, the global market for canned fish is estimated to attain a size of over USD 9.16 Billion by the end of 2027. Furthermore, the market is anticipated to flourish at a CAGR of over 4.2% during the forecasted era from 2020 to 2027.
Canned tuna is the tuna products processed and then packed into an airtight container like tin and then exposed to heat. It is a crucial source of nutrients and vitamins such as omega-3 fatty acids, Vitamin D, and selenium. The global market for canned tuna has registered enormous growth in the last few years. The market's growth is mainly attributed to the shifting consumer preference for seafood in various cuisines across the globe. Furthermore, with a busy lifestyle and rise in convenience food consumption, the market has witnessed a major spike in demand for canned tuna. Moreover, factors such as growth in the dependency on ready-to-eat foods and prepared meals, the longer shelf life of around one to five years and increasing consumption of packaged tuna across the globe are also likely to catalyze the growth of the canned tuna market over the forecasted era. On the other hand, the market's growth is anticipated to be restricted by the regulatory framework and the risk of food contamination & diseases.
Canned Tuna Market has witnessed exponential growth in the last few years. The pandemic has created lucrative opportunities for canned tuna manufacturers across the globe. Various health benefits are offered by canned tuna, such as reduction in blood pressure, improvments the immune system, strengthening of the bones, improvments in the skin health, and prevention of kidney disease. Rising awareness of health benefits offered by canned tuna is further expected to fuel its demand among the consumers. The rise in sales of canned tuna through various foodservice outlets and supermarkets is further expected to amplify the growth of the canned tuna market during the forecast period.
Increase in adoption of canned tuna in ready to eat and processed food
By Distribution Channel
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Grupo Calvo. (Spain), Ocean Brands (Canada), American Tuna Inc. (US), Aneka Tuna Indonesia. (Indonesia), Wild Planet Foods Inc. (California), Sea Value PLC (Thailand), Frinsa del Noroeste S.A. (Spain), Thai Union Group PCL (Thailand), Bumble Bee Foods LLC (US), Century Pacific Food Inc. (Philippines)|
|Key Market Opportunities||Rising awareness of health benefits offered by canned tuna is further expected to fuel its demand among the consumers|
|Key Market Drivers||
USD 8.8 Billion by 2026 is predicted to steer the market on a global scale.
A 4.2% CAGR is estimated to create momentum for the expansion of the global market.
The surging consumption of convenience food items is foreseen to enhance the market.
American Tuna Inc. (U.S.), Grupo Calvo. (Spain), Ocean Brands (Canada), Aneka Tuna Indonesia. (Indonesia) and Wild Planet Foods Inc. (California) are the leaders in the market.
The European regional market is projected to enhance the market in the impending period.