Canned Tuna Market

Growing incorporation of high-nutritious food in daily diet

Canned tuna has gained popularity in recent years due to its high nutritional value and convenience. Tuna is a lean fish that is high in protein, omega-3 fatty acids, vitamins, and minerals. It is also low in fat and calories, making it a popular food for those looking to maintain a healthy diet. One of the primary reasons for the growing incorporation of canned tuna in the daily diet is its convenience. Canned tuna is readily available, easy to prepare, and can be stored for an extended period.

Furthermore, majority of these canned tuna is albacore or a mix of yellowfin and skipjack tuna. "Light tuna" is a low-cost product, which consists of small amounts of yellowfin tuna and a substantial proportion of skipjack tuna. It accounts for a large portion of the global market.

The Global Canned Tuna Market Industry is poised for substantial growth, with projections indicating a market size of 11.6 USD Billion in 2024 and an anticipated increase to 18.8 USD Billion by 2035. This growth trajectory suggests a robust demand for canned tuna, driven by factors such as convenience, health benefits, and sustainability. The expected CAGR of 4.5% from 2025 to 2035 further underscores the market's potential. Such projections highlight the importance of strategic planning and investment in the Global Canned Tuna Market Industry, as companies prepare to meet the evolving needs of consumers and capitalize on emerging opportunities.

Innovation plays a pivotal role in shaping the Global Canned Tuna Market Industry. Companies are increasingly introducing new flavors, packaging formats, and value-added products to cater to diverse consumer preferences. For instance, the introduction of flavored canned tuna, such as spicy or herb-infused varieties, appeals to younger demographics seeking unique culinary experiences. This innovation is expected to drive market growth, with a projected CAGR of 4.5% from 2025 to 2035. By continuously evolving their product lines, companies can attract new customers and retain existing ones, thereby enhancing their position in the competitive landscape of the Global Canned Tuna Market Industry.

The Global Canned Tuna Market Industry experiences a notable increase in demand for convenient food products. As lifestyles become busier, consumers seek quick meal solutions that do not compromise on nutrition. Canned tuna, being a ready-to-eat protein source, fits this need perfectly. In 2024, the market is projected to reach 11.6 USD Billion, indicating a strong consumer preference for easy-to-prepare meals. This trend is particularly evident in urban areas where time constraints drive the need for convenient food options. The Global Canned Tuna Market Industry is thus likely to benefit from this shift towards convenience, as more consumers incorporate canned tuna into their diets.

Sustainability has emerged as a critical driver in the Global Canned Tuna Market Industry. Consumers are becoming more discerning about the environmental impact of their food choices, leading to a preference for sustainably sourced products. Brands that adopt eco-friendly practices, such as responsible fishing methods and recyclable packaging, are likely to attract environmentally conscious consumers. This shift towards sustainability could enhance brand loyalty and market share. As the Global Canned Tuna Market Industry evolves, companies that prioritize sustainable practices may see increased sales and a stronger competitive position, reflecting a broader trend towards environmental responsibility in food production.

The Global Canned Tuna Market Industry is significantly influenced by the growing health consciousness among consumers. Canned tuna is recognized for its high protein content and omega-3 fatty acids, which are essential for a balanced diet. As individuals become more aware of the importance of healthy eating, they are increasingly opting for products that offer nutritional benefits. This trend is expected to propel the market to an estimated 18.8 USD Billion by 2035. Furthermore, the promotion of canned tuna as a heart-healthy option aligns with dietary recommendations, making it a favorable choice for health-oriented consumers. The Global Canned Tuna Market Industry stands to gain from this heightened focus on health.

The Global Canned Tuna Market Industry is significantly affected by global trade dynamics. Countries that are major producers of canned tuna, such as Thailand and Ecuador, benefit from export opportunities that drive market growth. Trade agreements and tariffs can influence the pricing and availability of canned tuna in various regions, impacting consumer access and preferences. As international demand for canned tuna rises, producers are likely to explore new markets and expand their distribution channels. This global interconnectedness may enhance the overall market landscape, allowing the Global Canned Tuna Market Industry to thrive in an increasingly competitive environment.

By Region, the study segments the market into North America, Europe, Asia Pacific, and Rest of the world. Europe canned tuna market accounts for the largest market share 38% in 2021 and is expected to exhibit a CAGR of 4.36%. Europe is expected to hold the second-largest canned tuna market share in the market. This is due to the growing demand from the millennial population. The rise in the working women population and busy lifestyle has led to less investment of time for cooking.

This has led to their reliance on various ready-to-eat/cook food products as it saves time and fulfills all the nutritional requirements. The consumers in the U.S. have a Japanese and Indian influence. The leading tuna-consuming markets in the region are Spain, Italy, France, and Portugal. According to a study by the European Market Observatory for Fisheries and Aquaculture Products (EUMOFA) tuna is the most consumed fish in the region. The per capita consumption of tuna in the year 2018 was 2.78 kg, most of which accounted for an 11% share of all the fishery and aquaculture products.

Figure 3: Canned Tuna Market, by region, 2023 & 2030 (USD Million)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

The North American region includes the United States, Canada and Mexico. Among the most common consumed food in the United States, an average person eats almost 14 pounds of canned tuna in a year, more specifically, canned light tuna. The chunky light meat of tuna in water most frequently eaten and popular among the US consumers, which contributes to almost 75-80% per year of the US canned tuna consumption. According to research, one in four US consumers eat canned tuna once per week regularly, which is more common during the summer season.

Further, almost 50% of canned tuna are eaten in sandwich form in the US in, while salads contribute to 22%, and casseroles 15.5%. Studies indicated that, more product consumption of canned tuna are from large size households than average-sized ones.

Asia Pacific holds the third-largest market share owing to the large consumer base in the region. The growing millennial population in the region and their rising inclination towards convenience food has contributed to boosting the regional market. The rapid urbanization and incorporation of western lifestyles have increased the demand for the market. Consumers are now widely using canned tuna for food preparation due to its convenience of cooking and longer shelf stability. This has further fueled market growth.

The Asia Pacific canned tuna market is projected to witness significant growth over the forecast period (2021-2026) due to the increasing demand for convenient and healthy food products. Canned tuna is a rich source of protein, omega-3 fatty acids, and essential vitamins and minerals, which makes it an ideal choice for health-conscious consumers.

New untapped markets in Middle Eastern and African countries, including Saudi Arabia and Egypt, are emerging as major marketplaces with immense growth opportunities. According to the statistics provided by the ‘GLOBEFISH’, Saudi Arabia has witnessed a surge of 23.3% and Egypt witnessed a surge of 15.0% in 2019 for the canned and processed tuna import as compared to the previous year. The canned tuna market in South America, the Middle East, and Africa is a significant part of the global canned tuna industry.

The demand for canned tuna in these regions is driven by factors such as increasing population, changing dietary habits, and rising health awareness. In South America, Brazil and Ecuador are the largest producers of canned tuna, with Brazil being the largest market for canned tuna consumption. The demand for canned tuna in Brazil is expected to grow due to the rising health consciousness among consumers and the increasing popularity of ready-to-eat products.

Further, the major countries and regions studied are: The U.S, Canada, Mexico, Germany, France, Italy, Spain, UK, China, Japan, India, Australia & New Zealand, South America, Middle East, and Africa.

The Canned Tuna Market is profitable, both for existing players as well as new entrants. The market is highly competitive with all the players competing to gain a higher market share. Intense competition, rapid advances in Canned Tuna Market technology, and regulations are key factors that confront the market growth. A substantial level of rivalry is observed among the existing manufacturers in the market. Our analysis revealed that market players had adopted different strategies and innovative research and development techniques to expand their business and secure their position in the Canned Tuna Market.

In recent years, strategic movements by major players included approvals, which have been used as market penetration strategies and a means to reduce competition. The key players profiled in the global Canned Tuna Market analysis are Thai Union Group PCL, Bolton Foods, Grupo Calvo, Ocean Brands, American Tuna Inc., Aneka Tuna Indonesia, Wild Planet Foods Inc, Sea Value PLC and many more.

The industry is characterized by the presence of several small-scale industrial producers with obsolete production technologies and limited capacity, especially in developing nations such as India, which has lent a significant advantage to new industry participants with better processing technologies.