Canned Tuna Market Research Report: Information By Type (Albacore Tuna, Skipjack Tuna, Yellowfin Tuna, others) Distribution Channel (Store-Based, Non-Store Based), By Region – Forecast till 2027

Canned Tuna Market Overview

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.

Market Synopsis

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.

Market USP

Increase in adoption of canned tuna in ready to eat and processed food

Market Drivers

• Long shelf life by canned tuna: Canned tuna has longer shelf life and preservatives that maintain the essential nutrients. The rising health benefits of canned tuna among the consumers is driving its demand among the consumers.


• Strong performance by the food service industry


• Rising awareness of the health benefits of canned tuna


• The increase in consumption of convenience food products has boosted the demand for canned tuna


• Effective marketing strategies


• The advent of eCommerce platforms

Market Restraints

• Risk of food contamination & diseases


• Regulatory framework

Segmentation

By Type

• Skipjack Tuna: The segment accounted for the largest market share in 2019 and is projected to remain dominant during the forecast period. The skipjack tuna is the most heavily fished tuna and accounts for 60% of the legally caught tuna landed worldwide.


• Yellowfin Tuna:


• Albacore Tuna:


• Others:

By Distribution Channel

• Store-Based: The majority of canned tuna is sold through store-based retailers. This segment has been further divided into supermarkets and hypermarkets, convenience stores, and others. The supermarkets and hypermarkets segment dominated the market in 2019 and is anticipated to dominate during the forecast period.


• Non-Store-Based

By Region

• North America: North America accounted for a substantial share of the canned tuna market. The widespread consumption of canned tuna for its rich source of proteins and essential omega-3 fatty acids has fueled its demand in this region. The rising demand for canned tuna is driving the growth of North America's canned tuna industry.


• Europe: Europe dominated the canned tuna market in 2019 with an increase in the demand for ready-to-eat meals in the region. Spain is the major market for canned tuna in Europe. It is the largest exporter of frozen and prepared tuna in the canning industry. Canned tuna comprises 83% of the canned food, which is being exported by Spain. The rising awareness of the health benefits of canned tuna in Europe is further expected to drive its demand among consumers.


• Asia-Pacific:


• Rest of the World

• October 2021- A collaboration between The Nature Conservancy and the Republic of the Marshall Islands is set to offer canned tuna to Walmart stores for the store's Great Value brand across the United States.


• August 2021- Bolton Group International has announced the acquisition of Wild Planet Foods, with a target of further strengthening its position in the global canned tuna market. Both the firms will operate to offer a best-in-class sustainable supply chain.

Key Players

• 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)