Global Tuna Fish market is valued at USD 40.7 billion in the year 2020 and is expected to grow at a CAGR of 2.03% to reach USD 48.37 billion by 2028

According to the latest research by SkyQuest Technology, Global Tuna Fish market size was estimated at USD 40.7 billion in the year 2021 and is supposed to extend at a build yearly development rate (CAGR) of 2.03% from 2022 to 2028.

The factors driving market expansion and influencing customer behaviour that led to canned tuna sales in the international market are high product demand, rising output, and extensive application in the food industry. Since canned tuna is a cheap source of protein and is available in approximately 70 countries worldwide, it is a commonly consumed food. Consuming tuna has health benefits because it contains a lot of vitamins B12, which is needed to make DNA. The high levels of omega-3 fatty acids found in tuna fish help to reduce the levels of omega-6 and low-density lipoprotein (LDL) cholesterol that builds up in the heart's arteries. Consuming omega-3 fatty acids is associated with a decreased risk of heart attacks and cardiovascular disease.

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Although there is still a steady demand for tuna in most conventional western markets, consumption trends in Asia, particularly in southeast Asia, show that fresh or frozen seafood is still favoured over canned tuna when it is available. This consumer choice trend, particularly in South Asia, where there is a large consumer base and high need for low-cost sources of seafood and protein, restricts market expansion. Demand for tuna is rising as a result of the rising trend of combining nutrient-dense foods into a regular diet to enhance health functionality. Additionally, the rapid expansion of e-commerce platforms has reinforced the supply chain, which is anticipated to positively affect the market's revenue growth.

Read market research report, Global Tuna Fish Market, By Species (Skipjack, Yellowfin, Albacore, Bigeye, Bluefin) By Types (Canned, Fresh and frozen) & By Region - Forecast and Analysis 2022-2028" by SkyQuest

Customers now look for products that will enable them to lead more ethical and sustainable lives. The demand for seafood with added value and that has been sourced sustainably has grown in response to rising environmental and health concerns. Global organisations are assisting in the development of a sustainable supply chain for the tuna fishing industry. The Earthworm Foundation and the International Pole and Line Foundation (IPNLF) joined forces in 2020 to support ethical tuna fishing in France. Through the new cooperation, the two groups will collaborate in the French market to improve working conditions for workers both at sea and on land, strengthen and more responsibly manage tuna populations globally, and promote sustainable fishing. Additionally, the expansion of the tuna fish industry is anticipated to be positively impacted by efforts to ensure sustainability at all phases of product development and distribution, from fishing to processing and logistics.

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In the upcoming years, it is projected that the growth of the tuna fish market will be aided by the rising fish production achieved through aquaculture. According to FAO data, the world's fish production was around 179 million Tonnes in 2018, with a total first sale value projected to be USD 401 billion. Of that amount, aquaculture production accounted for 82 million Tonnes, valued at USD 250 billion. Human consumption made up 156 million Tonnes of the total, or 20.5 kg per resident annually. The remaining 22 million Tonnes were designated for non-food purposes, chiefly for the manufacturing of fishmeal and fish oil. 52% of fish for human consumption and 46 % production were produced via aquaculture.

Report Findings
Drivers- The product's sales will be boosted by the growing demand for packaged and canned meals. In addition, the prevalence of obesity and the increased need for low-fat protein encourage people to use the product.
Restraint- Due to factors including environmental awareness and dairy sensitivity, a sizeable segment of the global population has chosen to become vegetarian, which is having a detrimental effect on the demand for meat and seafood in many parts of the world. A rise in the production of plant-based meat is a result of the customer demand for plant-based food products becoming more and more widespread.

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What does this Report Deliver?
Market Estimation for 20+ Countries
Tuna fish Market demand by Region, Sub-Region, and Country
Customization on Segments, Regions, and Company Profiles
100+ tables, 150+ Figures
Global, Regional and Country specific Tuna Fish market trends
Comprehensive Mapping of Tuna fish Industry Parameters
Attractive Investment Proposition in the Global Tuna fish Industry
Competitive Strategies Adopted by Tuna Fish Market Key Players
Drivers, Restraints, Opportunities, Challenges and the impact on the Tuna Fish market size
Market growth rate till 2028
Regulatory scenario, regional dynamics, and Tuna Fish Market insights of leading countries in each region
In-depth Market insights by Region and Country
Market Segmentation Trend Analysis, Opportunities and Growth
Porter's five force analysis to know the market's condition
Pricing Analysis and Tuna Fish Market Sales
Parent market analysis
Product portfolio benchmarking

SkyQuest has segmented Global Tuna Fish Market-based on Treatment Type and Region:
Global Tuna Fish Market By Species Type (Revenue, USD Million, 2021 - 2028)
Skipjack
Yellowfin
Albacore
Bigeye
Bluefin
Other Types
Global Tuna Fish Market By Type (Revenue, USD Million, 2021 - 2028)
Canned
Fresh
Frozen
Global Tuna Fish Market By Region (Revenue, USD Million, 2021 - 2028)
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia Pacific
Central & South America
Brazil
Rest of CSA
Middle East & Africa
GCC Countries
South Africa
Rest of MEA

Key Players in the Tuna Fish Market
Thai Union Group Inc. (Thailand)
Mitsubishi Corporation (Japan)
American Tuna Company (US)
Crown Prince Inc. (US)
FCF Co., Ltd. (Taiwan)
ITOCHU Corporation (Japan)
Bolton Group (Italy)
Alliance Select Foods Inc. (Philippines)
DongWon Enterprises Co. Ltd. (South Korea)
Wild Planet Foods Inc. (US)

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This release was published on openPR.