Canned Tuna Market Latest Innovations and Demand Growth Analysis by 2024-2031 | Frinsa, Thai Union Group PCL, Century Pacific Food Inc.

The canned tuna market is estimated for $13 billion for 2024-2031 forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Canned tuna is packed tuna fish stored in an airtight container such as a sealed tin can. It is a popular protein source for sandwiches and salads. Canned tuna is affordable and convenient to store and transport, making it a practical option for busy consumers.

Market Dynamics:

The canned tuna market is expected to grow at a significant rate during the forecast period owing to two key drivers. Firstly, health-conscious consumers are increasingly opting for canned tuna as it is low in calories, fat and sodium compared to other meat options. It is a good source of protein, vitamins and minerals. Secondly, major canned tuna brands are promoting the product through various marketing campaigns highlighting its health benefits and quick preparation. They are also expanding product lines with various flavors and recipes to appeal to diverse tastes. Meanwhile, rising disposable incomes in developing countries is also fueling the demand for canned tuna.

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Top Key Players are Covered in this Report:

★ Frinsa
★ Thai Union Group PCL
★ Century Pacific Food Inc.
★ Bumble Bee Foods LLC
★ Jealsa
★ Grupo Calvo
★ PT. Aneka Tuna Indonesia
★ American Tuna
★ The Jim Pattison Group
★ Bolton Group
★ Dongwon Group

Market Segmentation:

By Product Type:

★ Skipjack
★ Yellowfin
★ Other

By Distribution Channel

★ Hypermarket & Supermarket
★ Specialty Stores
★ Online

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Canned Tuna Market Drivers and Restrain: An Analysis

Increasing Demand for Protein Rich Food Drives the Canned Tuna Market

Canned tuna is a highly versatile food that is an excellent source of protein. It contains high quality protein that provides all essential amino acids. As more people focus on consuming protein-rich diets for health and fitness goals, the demand for canned tuna has increased significantly. Its protein content makes canned tuna a popular choice for meal replacements and snacks. The portability and long shelf life of canned tuna also make it convenient for busy lifestyles. With growing health consciousness, many see canned tuna as a healthy alternative to other packaged foods. This growing demand for protein-rich convenience foods is a key driver boosting the canned tuna market.

Rising Environmental Concerns Pose Challenge to Sustainable Fishing

As an important source of canned tuna is wild-caught skipjack tuna, environmental issues pose a significant restrain. Unsustainable fishing practices have threatened tuna fish stocks in recent decades. Overfishing has reduced tuna populations in some regions. This poses risks to the long term supply of raw materials. Rising awareness about threats to marine ecosystems is also increasing scrutiny on canned tuna production. Customers are more conscious about sourcing from environment-friendly operations. Producers face challenges to ensure sustainable fishing without depleting tuna stocks. Adopting sustainable fishing methods requires additional costs and effort. Strict regulations also limit fishing volumes in many areas. Balancing environmental protection and supply needs is a major challenge restraining market growth.

Opportunity for Value-Added Products with Health and Convenience Benefits

While canned tuna is predominantly consumed as a protein-rich staple, producers see opportunities in value-added product diversification. Developing ready-to-eat tuna products offers convenience along with health and nutrition benefits. Examples include flavored tuna pouches, salads and pasta dishes containing tuna. These value-added products appeal to time-strapped customers. With the fast-paced lifestyle, the demand for convenient packaged meals and snacks is on the rise. Canned tuna producers can leverage this trend by offering diverse product ranges. Incorporating superfood ingredients like quinoa, chia seeds etc. allows promoting additional health attributes. Innovation in flavors, recipes and formats present opportunities to drive growth in new customer segments.

Emerging Markets Stimulate Growth through Rising Incomes

One of the major trends positively impacting the canned tuna market is increasing incomes and spending power in developing economies. Emerging markets like China, India, Brazil, Indonesia etc. contribute significantly to the global canned tuna consumption. As living standards rise in these regions, more people can afford canned tuna as a nutritious part of their diets. This market sees extensive opportunities from expanding middle-class populations with greater purchasing power. Their taste and preferences also evolve to incorporate convenient packaged and protein foods. Canned tuna producers therefore focus on penetrating high-potential developing markets. With economic growth and urbanization, the canned tuna demand in emerging nations is projected to surge in the coming years significantly impacting global market trends.

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The report answers a number of crucial questions, including:

➥ Which companies dominate the global Canned Tuna market?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the Canned Tuna market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Canned Tuna Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.