- Report ID: BMRC 388 | Number of pages: 194 | Publish Date: Jan 2020
Status: Published | Category: Food And Beverage | Delivery Timeline:
Canned Tuna Market report is segmented on the basis of species type, end user and regional & country level. Based upon type, global canned tuna market is classified as Albacore, Skipjack Tuna, Yellowfin Tuna, Bigeye Tuna, and Bluefin Tuna. Based upon end user, global canned tuna market is classified as foodservice and households. Based upon sales channel, global canned tuna market is classified as direct, indirect, specialty stores, hypermarkets/supermarkets, online retailers and others
Canned Tuna Market is valued at USD 10767.3 Million in 2018 and expected to reach USD 14141.8 Million by 2024 with the CAGR of 3.97% over the forecast period.
Tuna canning started to create substitute of canned sardines which is now become one of popular seafood products in USA. These are mainly sold in supermarkets or in foodservice outlets, delis, or in tuna sandwiches. The main type of commercial tuna products are albacore or a mixture of skipjack and yellowfin tuna. Light tuna, consists of skipjack and small amounts of yellowfin, and this package is the less expensive product and represents one of the largest portions of canned tuna sales. Generally yellowfin, bigeye, or albacore tuna are sold in retail stores and restaurants as fresh or frozen tuna loins or steaks. High quality or "sushi grade" bigeye and bluefin tuna are expensive and served as luxury foods in high end restaurants and are usually used in sushi and sashimi dishes.
The regions covered in this Global Canned Tuna market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Canned Tuna is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Canned Tunamarket report covers prominent players like American Tuna, Bumble Bee Foods, Dongwon Industries, Thai Union Group, The Tuna Store, Wild Planet, Crown Prince Inc., Natural Sea, Century Pacific Food, Frinsa del Noroeste, Hagoromo and others.
Increasing Awareness Regarding Healthy Food Products is Driving the Global Canned Tuna Market.
Tuna is one of the most widely used seafood products in the world, from which more than 75% of catch tunas are used by canning industry and 25% for direct consumption. As these products can be stored for long time by freezing, by storing it in ultra-low temperature, in air tight cans and can be used easily, the demand of canned tuna is growing in global market. Around 3,300,000 metric tonne canned tunas are sold per year worldwide, making it one of the two most sold sea food of the world. The canned tuna are used as ingredient and main dishes for various food varieties. For example, in USA, about 52% of canned tuna is used for sandwiches, 22% for salads, and 15% for tuna casseroles and dried, prepackaged meal kits. Canned tuna is a great protein source with many nutrients such as selenium and vitamin D, due to which the its demand is always present among the customers who are health conscious. One of the restraining factors is, the tunas are often caught far from where they are processed for canning, so poor temporary conservation can results in decay.
Europe is Expected to Dominate the Global Canned Tuna Market
The main market for canned tuna is Europe and North America. These two regions market are integrated globally and have a single interdependent market. The traditional market is maturing in these regions as consumption level is stabilizing in Europe and declining in US. The canned tuna market in these regions is mainly depending upon demand from Middle East, Latin America and other emerging markets of Eastern Europe and Asia. The growing canned tuna market of Latin America accounts for 14.93% of world canned tuna consumption. European market of canned tuna combines robust demand with high price and still the most consumed sea food is canned tuna, with consumption per person amounts to 2.02 kg in 2012 according to EUMOFA, 2015. U.S. is the second largest in terms of volume after Europe and in 2015, canned tuna has house hold penetration of around 67%. Its huge market depends on export oriented tuna canning industry in Japan & Thailand.
In case of Asia pacific, demand for canned tuna is increasing due to availability of cheaper raw materials. In Japan, imports of canned tuna are increased marginally that is 3.5%, in Malaysia by 31%, in Singapore by 8.4% and in Korea by 28% according to Food and Agriculture Organization (FAO) of UN. Also consumer demand of shelf-stable canned tuna is helping the canned tuna market to grow in south Asian’s urban regions.
Key Benefits for Market Report–
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Canned Tuna Market with Positive Long-Term Growth Outlook 2020-2025