Canned Tuna Market to exceed US$ 17.20 million to 2031

    Published on 01-Apr-2024
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    Report : Canned Tuna Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Albacore, Yellowfin, Skipjack, and Others), Category (Tuna in Water, Tuna in Oil, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others), and Geography

    The scope of our recent study on the "Canned Tuna Market Forecast to 2031 - Global Analysis - by Type, Category, Distribution Channel, and Geography" includes the factors fueling the market growth, revenue estimation and forecast, market share analysis, and the identification of significant market players and their key developments.

    The canned tuna market size was valued at US$ 12.98 billion in 2023 and is expected to reach US$ 17.20 billion by 2031; it is estimated to record a CAGR of 3.6% during 2023-2031. Canned tuna is a processed tuna that can be directly used in various recipes from salads to sandwiches, cutlets to spring rolls, and noodles to pasta. The upsurging number of health-conscious consumers seeking convenient protein sources and rising dependency on ready-to-cook and ready-to-eat food products has propelled the growth of the canned tuna market. In addition, changing dietary preferences owing to the rising awareness regarding nutritious health benefits of tuna drive the market growth. Further, strategic initiatives such as product launch and development, mergers, acquisitions, and collaborations by key market players have contributed to the canned tuna market growth. In March 2021, Thai Union's SEALECT Tuna brand announced the launch of a limited-edition series of canned tuna with a packaging design featuring Doraemon. The launch was aimed to attract consumers with the release of The Movie - Standby Me Doraemon 2.

    Canned tuna is an excellent source of high protein for building and repairing tissues, muscles, and organs. Protein content helps maintain a feeling of fullness, making canned tuna a satisfying and filling option for consumers seeking to manage their weight or build muscle mass.

    Canned tuna contains omega-3 fatty acids, particularly eicosatetraenoic acid (EPA) and docosahexaenoic acid (DHA). The fatty acids are known for their numerous health benefits, including reducing the risk of heart disease, improving brain function, and supporting overall cognitive health. Incorporating omega-3 fatty acids into the diet through canned tuna consumption can help consumers maintain a healthy heart and brain function.

    Canned tuna has excellent shelf stability, allowing it to be stored for long periods without refrigeration. This attribute is highly advantageous for consumers who value convenience and flexibility in their food choices. Whether stocking up on pantry essentials for emergencies or packing lunches for work or travel, canned tuna assures consumers of having a versatile and reliable protein source readily available whenever needed. Its long shelf life minimizes food waste and ensures that consumers always have access to nutritious meals.

    Since more people are leading busy and mobile lifestyles, there is a growing preference for portable and convenient food options that can be prepared in minimal time. Furthermore, the versatility of canned tuna lends itself well to various meal occasions, further enhancing its appeal to consumers. Canned tuna can be incorporated into various recipes for different tastes and dietary preferences. It can be used in classic tuna sandwiches, salads, pastas, wraps, and casseroles. This versatility allows consumers to experiment with new flavors and meal ideas while still enjoying canned tuna's convenience and nutritional benefits. Overall, convenience and shelf stability make canned tuna popular among consumers seeking convenient and nutritious meal solutions.

    The global canned tuna market is segmented into five main regions-North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Europe held the largest revenue share of the global canned tuna market in 2023.

    Global Canned Tuna Market Breakdown - by Region

    The report includes the segmentation of the global canned tuna market as follows:

    The global canned tuna market is segmented based on type. Based on type, the canned tuna market is segmented into albacore, yellowfin, skipjack, and others. Based on category, the canned tuna market is segmented into tuna in water, tuna in oil, and others. By distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. By geography, the global canned tuna market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North American canned tuna market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific canned tuna market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa market is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa. The South & Central America canned tuna market is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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