The latest market report published by Credence Research, Inc. “Global Canned Tuna Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global Canned Tuna market is anticipated to grow at a substantial CAGR of 2.80% in the upcoming years. The global Canned Tuna industry was estimated to be worth USD 8.8 billion in 2022 and was expected to be worth USD 10.67 billion by 2028.
The canned tuna market key growth trends are showing a significant increase in demand globally. This trend is attributed to the growing awareness of healthy eating habits and the benefits of consuming omega-3 fatty acids found in tuna. Additionally, the rise in convenience-focused lifestyles has led consumers to opt for easy-to-prepare meals such as canned tuna. The industry is also witnessing a shift towards sustainable fishing practices and ethical sourcing of raw materials, which is expected to drive growth further. Furthermore, technological advancements have enabled manufacturers to produce innovative products such as flavored and ready-to-eat varieties that cater to changing consumer preferences.
Market Segmentation:
The skipjack segment accounted for the largest share in the global canned tuna market in 2022. Skipjack is widely used and preferred for its ability to fertilize the soil.
The Hypermarket & Supermarket segment is expected to have a significant share in the global canned tuna market due to the easy availability of canned tuna in these retail channels, offering a rich and nutritious seafood experience to consumers.
Regional Dominance:
In 2022, the Europe region held a prominent share in the global canned tuna market. In countries like Germany, skipjack tuna is preferred as a popular protein source, and canned tuna offers convenience, long shelf life, and versatility in various recipes.
Key Countries:
The United States and Canada are key countries in the canned tuna market, generating a significant market share. In the U.S., skipjack is preferred as a nutrient-rich food source, and canned tuna is perceived as a healthy protein option due to its high omega-3 fatty acid content.
Japan is also a major market for canned tuna, driven by the convenience-oriented food preferences of Japanese consumers.
Impact of the Economy:
The economy has had a mixed impact on the global canned tuna growth. During periods of economic downturn, consumers tend to opt for cost-effective food options like canned tuna, leading to increased demand. However, economic instability can also affect consumer purchasing power, resulting in reduced consumption.
Competitive Environment:
The canned tuna industry is highly competitive, with major players focusing on product quality and brand reputation to gain a competitive edge.
Companies like Frinsa del Noroeste S.A., Thai Union Group PCL, Bumble Bee Foods LLC, Century Pacific Food Inc., Jealsa, Grupo Calvo, PT. Aneka Tuna Indonesia, American Tuna Inc., and Ocean Brands are some of the key players in the market.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Global Canned Tuna Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the By Distribution Channel and Product
- Major nations in each region with their import/export statistics
- The global Global Canned Tuna Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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