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Canned Tuna Market Size - By Type (Skipjack Tuna, Yellowfin Tuna, Albacore Tuna, Tongol Tuna), By End-use (Retail Consumption, Foodservice and Catering, Food Processing), Packaging, Distribution Channel & Global Forecast, 2023 – 2032

  • Report ID: GMI6384
  • Published Date: Aug 2023
  • Report Format: PDF

Canned Tuna Market Size

Canned Tuna Market size was valued at USD 8.9 billion in 2022 and is estimated to grow at over 4.5% CAGR from 2023 to 2032. Canned tuna offers convenience and a longer shelf life compared to fresh tuna. Canned tuna can be stored for extended periods without refrigeration, making it a practical choice for consumers seeking convenient, ready-to-eat seafood options. The increasing prevalence of busy lifestyles and time constraints has led consumers to seek quick and easy meal solutions. Canned tuna provides a convenient protein source for on-the-go and quick meal preparations.
 

Canned Tuna Market

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Canned tuna can be used in a wide range of culinary applications, including sandwiches, salads, pasta dishes, and sushi, making it a versatile ingredient in various cuisines.
 

The price of tuna fluctuates due to various factors, including weather conditions, geopolitical issues, and changes in demand and supply. Price volatility can affect profit margins for canned tuna manufacturers and retailers. The growing popularity of plant-based diets and alternative protein sources has led to increased competition for the canned tuna market. The canned tuna supply chain involves several stakeholders, including fishing vessels, processing plants, distributors, and retailers.

COVID-19 Impact

The canned tuna industry relies on a significant amount of manual labor for fishing, processing, and canning operations. The pandemic-induced labor shortages and workforce restrictions in processing plants led to reduced production capacities. The market experienced fluctuating demand during the pandemic. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the market growth.
 

Canned Tuna Market Trends

Consumers are increasingly seeking healthier food options, and canned tuna is perceived as a nutritious protein source rich in omega-3 fatty acids, vitamins, and minerals. As health-consciousness rises, canned tuna's nutritional benefits continue to attract consumers. Sustainability has become a significant focus in the canned tuna industry. Consumers are looking for products sourced from responsible and sustainable fisheries. Tuna brands are increasingly obtaining certifications, such as Marine Stewardship Council (MSC) or Earth Island Institute's Dolphin-Safe certification, to showcase their commitment to sustainable fishing practices.
 

Canned Tuna Market Analysis

Global Canned Tuna Market Size, By Type, 2021 - 2032 (USD Billion)

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The canned tuna market from skipjack tuna segment dominated around USD 3.6 billion revenue in 2022, due to its abundant availability and relatively lower cost compared to other tuna species. Yellowfin tuna is considered a premium tuna species due to its rich flavor and tender texture, making it popular among consumers seeking higher-quality canned tuna.
 

 Global Canned Tuna Market Revenue Share, By Packaging, (2022)

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Canned in water segment accounted for 40% of the canned tuna market share in 2022. Canned tuna in water is perceived as a healthier option compared to tuna in oil because it contains fewer calories and fat. Health-conscious consumers often choose water-packed tuna as part of a balanced diet.

The canned tuna market from retail consumption segment is set to expand at 3.9% CAGR through 2032. Canned tuna offers consumers a convenient and ready-to-eat protein source, making it popular for use in home-cooked meals, sandwiches, salads, and other recipes. Canned tuna's long shelf life allows consumers to stock up on pantry essentials, especially during times of uncertainty or emergencies.
 

The supermarkets segment will gain remarkable momentum during the forecast timeline. Supermarkets and hypermarkets offer a wide variety of canned tuna products under one roof, making it convenient for consumers to find their preferred brands and types. These large retail stores allow consumers to purchase canned tuna in bulk, which is advantageous for stocking up on pantry essentials.
 

U.S. Canned Tuna Market Size, 2020- 2032 (USD Billion)

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U.S. canned tuna market size held over USD 2 billion in 2022. Health-conscious consumers in North America value canned tuna as a nutritious protein source rich in omega-3 fatty acids, vitamins, and minerals. The increasing focus on healthy eating habits drives the demand for canned tuna as part of a balanced diet.
 

Canned Tuna Market Share

Some of the major companies operating in the canned tuna market are

  • Thai Union Group
  • Bumble Bee Foods
  • StarKist Co.
  • Dongwon Group
  • Calvo Group
  • Wild Planet Foods
  • Tri Marine Group
  • Century Pacific Food
  • Ocean Brands
  • Princes Limited

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Canned Tuna Industry News:

  • In January 2022, Nostromo brand of Calvo group has launched a new attractive packaging which features real peel technology.
     
  • In 2021, the Italian company Bolton Food has partnered with Oxfam, first in the world with this venture, and has taken an aim of implementing new standards in the fishing industry regarding social enterprise sustainability.
     

This canned tuna market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Units from 2018 to 2032, for the following segments:

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Market, By Type

  • Skipjack Tuna
  • Yellowfin Tuna
  • Albacore Tuna
  • Tongol Tuna

Market, By Packaging

  • Canned in Water
  • Canned in Oil
  • Canned in Brine

Market, By End-use

  • Retail Consumption
  • Foodservice and Catering
  • Food Processing

Market, By Distribution Channel

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Online Retail
  • Specialty Stores

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of canned tuna was exceeded USD 8.9 billion in 2022 and is set to reach USD 13.8 billion by the end of 2032, due to the rising demand for products with longer shelf life and convenient foods for consumers with busy lifestyles worldwide.
Skipjack canned tuna industry reached USD 3.6 billion in 2022, owing to abundant availability and relatively lower costs compared to other tuna species.
The water packaging segment held around 40% share of the canned tuna market in 2022, due to rapidly multiplying number of health-conscious people looking for healthier alternatives to tuna oil.
Some of the prominent canned tuna companies are Thai Union Group, Bumble Bee Foods, StarKist Co., Dongwon Group, Calvo Group, Wild Planet Foods, Tri Marine Group, and Century Pacific Food.

Canned Tuna Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 248
  • Countries covered: 21
  • Pages: 210
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