Canned Tuna Market By Product Type, Tuna Species, Flavor, Product Format, Usage Format, Sales Channel & Region Forecast | CAGR of 4.7%

Canned Tuna Market was estimated to be nearly USD 8.44 billion in 2021, and is expected to grow at a CAGR of 4.7% during the period 2023-2028.

The market is classified as part of the global packaged foods and meats industry in the studies. The global packaged foods and meats products market includes manufacturers or food processing vendors who are involved in food processing to eradicate bacteria and extend shelf life. This market is based on the combined revenue generated by the market's vendors. Our research report has analysed external variables influencing parent market growth over the projection period.

Consumers are buying more canned tuna since the benefits of consuming the product in suggested amounts per week exceed the risks of mercury levels that may be consumed along with the product. Canned tuna consumption has increased as a strong source of omega-3 fatty acids, protein, selenium, and vitamin D, with over US$ 653 million in imports in 2017, while the US exported approximately US$ 47 million canned tuna.

Because of the advancement of e-commerce and the improvement of the supply chain, the market has expanded favourably. The number of online food-buying platforms has grown in response to recent advancements in the accessibility of processed food goods. Because of the internet's expanding popularity, new e-commerce opportunities have emerged. Because it is more convenient, the millennial generation likes to make purchases through numerous internet channels. The construction of numerous new malls and convenience stores in recent years has sparked customers' interest.

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Market Segmentations:
Global Canned Tuna Market: By Key Players
Dongwon
Bumble Bee Foods
Thai Union Group (TUF)
Crown Prince, Inc.
Natural Sea
Wild Planet
American Tuna
Century Pacific Food
Frinsa del Noroeste
Hagoromo

Global Canned Tuna Market: By Types
Canned White Tuna
Canned Light Tuna

Global Canned Tuna Market: By Applications
Supermarkets and Hypermarkets
Convenience Stores
Online Retailers

Global Canned Tuna Market: Regional Analysis
The countries covered in the regional analysis of the Global Canned Tuna market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Market Drivers
• Due to the ease of availability of ready-to-cook and ready-to-eat food products, consumers are highly dependent on them.
• The widespread consumption of canned tuna results from the increasing number of working women and decreased cooking time.
• Due to their ease of preparation, nutritional value, and less time required for food preparation, the millennial population is highly attracted to these convenience foods.
• Many companies are focusing on introducing new products and certifications to serve customers better and offer them high-quality products.

Key Trends:
• The growth in online retailing is a key trend influencing the market growth.
• The growing Internet penetration worldwide has resulted in the growth of e-commerce businesses globally.
• Furthermore, a rise in demand for convenient shopping, the ease of searching for products, and attractive deals and tailored offers on products are increasing the demand for online shopping globally.
• Online retailing has created new opportunities for vendors in the seafood industry to increase their sales, expand their geographic presence, and improve customer relations and profitability.

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Market Dynamics
• Changing lifestyles in emerging economies worldwide have led to a massive trend toward convenience foods that are expected to fuel industry growth in the next few years.
• Tuna is an inexpensive source of protein that meets the key criteria for the growing demand for low-cost protein, creating potential opportunities for the target industry.
• The increase in the working women population, along with changing lifestyle patterns across the globe, are the major reasons expected to drive the growth of the market shortly.
• Consumer preferences for protein-rich foods are increasing rapidly in developed economies and tuna is the tastiest seafood with the right amount of protein, which is driving the demand for canned tuna at a significant rate.

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