The ‘Global Tuna Market Size, Share, Price, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global tuna market, assessing the market on the basis of its segments like species, product types, production regions, and consumptions regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Tuna Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 57.96 billion
• Forecast CAGR (2023-2028): 5.1%
• Forecast Market Size (2027): USD 78.20 billion
Tuna fish is widely consumed across various parts of the world majorly due to the nutritional benefits offered by it. Tuna is a great source of Vitamin B12, D, proteins, Omega-3, and Omega-6 fatty acids. Hence, the increasing inclination of adults towards bodybuilding and fitness is escalating the consumption of this food product, leading to a greater growth of global tuna market. In addition to this, tuna consumption promotes bone health and bolsters immunity of the body which is enhancing the popularity of the product among teenagers and children.
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Consumption of tuna also improves vision and reduces the risk of heart diseases. In this regard, the increasing prevalence of heart diseases among the geriatric populations is garnering the growth of the tuna market. Moreover, the increasing popularity of seafood, owing to the unique taste and significant nutritional benefits is providing impetus to the market.
The increasing penetration of tuna in households, which is attributable to the growing popularity of tuna sandwiches and canned tuna among children is another major driving factor of the tuna market. Additionally, tuna is affordable, which further leads to cost savings in food purchases. Dishes such as tuna salad and tuna pasta are cost-effective and easy to make.
Tuna Industry Definition and Major Segments
Tuna, with the scientific name Genus Thunnus, is defined as a type of fish which is found throughout the oceans of the world. Tuna is a dark-coloured fish with a round body and a crescent-shaped tail. It is commercially utilised as food due to its health benefits and affordability.
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Based on species, the market can be segmented into:
• Skipjack
• Albacore
• Yellowfin
• Bluefin
• Bigeye
• Others
On the basis of product type, the market has been classified into:
• Canned
• Frozen
• Fresh
Based on production regions, the market can be categorised into:
• Japan
• Indonesia
• Philippines
• Taiwan P.C.
• Republic of Korea
• Spain
• Others
On the basis of consumption regions, the market is segmented into:
• Japan
• United States
• China
• Taiwan P.C.
• Republic of Korea
• European Union
• Others
Tuna Market Trends
The key trends in the global tuna market include the thriving food and beverage industry across the emerging economies which is propelling the sale of seafood. Bolstered by e-commerce networks, the sales of canned and frozen tuna are also anticipated to increase due to their high shelf life and clean packaging. The robust development of supermarkets and convenience stores across the urban and semi-urban areas is infusing the trend of impulse buying.
Omega-3 fatty acids in tuna are known to reduce the growth of tumour cells and decrease inflammation in the body. In this regard, the increasing cases of cancer, coupled with the rising investments by the government to bolster the treatment of this chronic diseases are the crucial trends in the tuna market. Meanwhile, the rising number of gym goers are further escalating the demand for tuna as this food product is highly recommended by dieticians.
In terms of regions, North America is one of the largest consumers of canned tuna. The increasing cases of obesity in the United States of America is leading to a transition in lifestyles which is escalating the consumption of protein-rich food products. On the other hand, Europe also accounts for a significant share in the market owing to the high popularity of seafood.
Key Market Players
The major players in the tuna market report are :
- American Tuna
- Thai Union Group PCL.
- Wild Planet
- Frinsa del Noroeste S.A.
- Bumble Bee Foods, LLC
- Clover Leaf Seafoods Corp.
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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