The Growing Demand For Seafood Fuels The Expansion Of The Frozen Tuna Market: Major Factor in the Transformation of the Frozen Tuna Market in 2025

How Will the Frozen Tuna Market Grow, and What Is the Projected Market Size?
Recent years have seen a swift expansion in the size of the frozen tuna market. Its value, which stands at $8.22 billion in 2024, is predicted to rise to $9.1 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.7%. This growth during the historic period can be traced back to factors such as increased seafood demand, a surge in the consumption of plant-based protein sources, heightened awareness about health benefits, and a rise in the consumption of sushi and sashimi.

The frozen tuna market is set to experience a significant expansion in the coming years, escalating to a value of $13.47 billion by 2029, with a compound annual growth rate (CAGR) of 10.3%. This progression in the predicted period can be ascribed to the increment in protein-based food consumption, a rise in the demand for frozen tuna, an augmented need for value-added seafood, a heightened demand for food sourced sustainably, and the expansion of modern retail formats coupled with the boost in online food delivery services. The upcoming trends within this period encompass technological progressions, advancements in cold chain logistics, the advent of flash-freezing technology, innovative packaging solutions towards sustainability and the refinement of thawing techniques.

What Factors Are Fueling Growth in the Frozen Tuna Market?
The burgeoning requirement for seafood is anticipated to fuel the upsurge of the frozen tuna market in the future. Seafood, comprising consumable aquatic life and flora such as fish, shellfish, mollusks, and seaweeds procured from bodies of water like oceans, rivers, and lakes, is a treasured source of protein and nutrients for numerous cultures worldwide. The escalating demand for seafood is attributed to the growing consciousness towards its health benefits, expansion in aquaculture, transformed diet inclinations, enhanced supply chain logistics, and concerns over sustainability connected to land-based protein sources. Frozen tuna plays a vital part in satisfying the mounting global requisition for seafood, offering a reliable, adaptable, and premium quality product savored with a variety of cuisines across the globe. As an example, in September 2023, as per information from Statistics Canada, a Canadian government body, the sales of cultivated shellfish grew to $125.0 million in 2022, witnessing a rise of 11.8% compared to 2021. Hence, the expanding demand for seafood propels the frozen tuna market.

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Who Are the Major Industry Players Fueling Frozen Tuna Market Expansion?
Major companies operating in the frozen tuna market are ITOCHU Corporation, Sojitz Corporation, Dongwon Group, Nissui Corporation, Mowi ASA, Thai Union Group PCL, Bolton Group, SalMar ASA, IBL Ltd., High Liner Foods Inc., Century Pacific Food Inc., The Jealsa Rianxeira S.A.U., Bumble Bee Foods LLC, Tassal Group, Chicken of the sea, Shanghai Kaichuang Marine International, Zhejiang Ocean Family Co. Ltd., Grupo Calvo, FCF Co. Ltd., Sea Delight LLC, Pescanova SA, Stehr Group, Golden Prize Canning Co. Ltd.

Which Key Developments Are Influencing the Frozen Tuna Market?
Leading frozen tuna market players are concentrating their efforts on creating novel products like ultra-low temperature (ULT) frozen fish to enhance the quality, prolonged shelf-life, and sustainability of their frozen tuna offerings. ULT frozen fish designates fish frozen at remarkably low temperatures to sustain its quality and freshness for a longer duration. This method of freezing employs temperatures significantly below that used in traditional freezing techniques, often plunging to -60 degrees Celsius (-76 degrees Fahrenheit) or even lower. For example, in April 2023, Big Fish Maldives, a firm based in the Maldives that processes seafood, introduced its ULT frozen tuna commodities. Thanks to its quick freezing capability at temperatures as low as negative 60 degrees Celsius, the product maintains freshness over a long period. Fish frozen at such exceptionally low temperatures can command prices around 150% higher in overseas markets compared to fish previously frozen at 20 degrees Celsius, thereby facilitating high-quality fish distribution. Ultra-low temperature (ULT) frozen tuna has widespread preference in upscale sashimi and sushi due to its preservation of natural bright red colour, high fat content, and premium taste.

How Is the Segmentation of the Frozen Tuna Market Defined?
The frozen tuna market covered in this report is segmented -

1) By Type: Frozen Albacore, Frozen Big Eye Ahi, Frozen Bluefin Tuna, Frozen Skipjack, Frozen Yellowfin Tuna
2) By Distributed Channel: Online, Offline
3) By Application: Supermarkets And Hypermarkets, Convenience Stores, Specialty Stores, Online Retail

Subsegments:
1) By Frozen Albacore: Wild-Caught Frozen Albacore, Farmed Frozen Albacore
2) By Frozen Big Eye Ahi: Wild-Caught Frozen Big Eye Ahi, Frozen Big Eye Ahi Steaks
3) By Frozen Bluefin Tuna: Wild-Caught Frozen Bluefin Tuna, Frozen Bluefin Tuna Steaks, Frozen Bluefin Tuna Belly
4) By Frozen Skipjack: Wild-Caught Frozen Skipjack, Frozen Skipjack Loins
5) By Frozen Yellowfin Tuna: Wild-Caught Frozen Yellowfin Tuna, Frozen Yellowfin Tuna Steaks, Frozen Yellowfin Tuna Saku

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What Is the Leading Region in the Frozen Tuna Market?
Asia-Pacific was the largest region in the frozen tuna market in 2023. The regions covered in the frozen tuna market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Frozen Tuna Global Market Report?

- Market Size Analysis: Analyze the Frozen Tuna Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Frozen Tuna Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Frozen Tuna Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Frozen Tuna Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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