Global Canned Tuna Market- Market Overview:

The Global Canned Tuna market is expected to grow from USD 9.8 billion in 2021 to USD 13.4 billion by 2029, at a CAGR of 4% during the Projection period 2022-2029. The growth of this market is mainly driven owing to the increasing development in food industry.

One of the cheapest and healthiest forms of protein available is tuna in a can. The fish is low in carbohydrates, high in vitamin D, anti-inflammatory, heart-protective omega-3 fatty acids, and 20 to 25 grammes of protein per can. Tuna is an easy, affordable approach to make up for the lack of omega-3 fatty acids that the majority of Americans experience in their diet. Tuna, a prominent player in the fishing industry, is a member of the mackerel fish family. Tuna is consumed fresh, cooked, frozen, canned, and in sushi all throughout the world. About 60% of the world's total tuna catch comes from the West and Central Pacific Oceans (WPCO). All tuna harvests in this region are controlled by the Pacific Island Countries (PICs), hence the economy of these countries are heavily dependent on tuna resources. This is partly because the tuna population is many of these countries' primary source of income. It is a product that consumers, restaurants, and the canning business commonly buy. The rise in demand for canned tuna is one of the key reasons currently driving the worldwide tuna business.

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Market Dynamics:

Drivers:                          

• Increasing E-Commerce channels will strengthen the supply chain

The market for canned tuna has grown favourably as a result of the development of e-commerce and the strengthening of the supply chain. Recent improvements in the accessibility of processed food products have increased the number of online food buying platforms. The widespread use of the internet has created more e-commerce options. Because it's so handy, the millennial generation prefers to purchase on multiple internet platforms and is quite tech aware. Customers have become interested in the opening of various new malls and convenience stores in recent years. Sales of processed goods like tuna have increased as a result, and the supply chain has become more tightly knit.

Restraints:                                             

• Rising consumer demand for food made from plants

Market expansion has been hindered by customers' increased preference for plant-based foods. Consumers are gravitating toward plant-based products as a result of their growing worries about the environment and animal welfare. The greater use of plant-based products is also a result of the growing vegan movement in developing countries. The availability of vegan fish flesh substitutes and their high level of flavour and taste conformity have further encouraged consumers to choose them.

Opportunities:

• Increasing consumer reliance on prepared food to support development

Due to the ease of preparing that ready-to-cook and ready-to-eat food products provide, consumers rely heavily on them. The widespread use of canned tuna is a result of the growing number of working women and the reduction in time spent cooking. Due to their ease of preparation, nutritional value, and reduced time required for food preparation, the millennial demographic is extremely attracted to these convenience food items. To better serve consumers and offer them high-quality products, many firms are concentrating on the introduction of new products and certifications.

Challenges                                     

• Side effects related to canned tuna

There are claims that tuna contains a lot of mercury. All fish contain some mercury, but the amount varies greatly. Because canned tuna has relatively high mercury levels, eating it more than three or four times each week could be detrimental. Moreover, it may result in scombroid toxicity. The most typical sources of the unusual food illness scombrotoxin are tuna and mackerel seafood. Additionally, canned tuna may not be the healthiest option for people with high blood pressure even if it is very handy. Fresh fish, on the other hand, is a fantastic source of protein and heart-healthy omega-3 fatty acids.

Segmentation Analysis:

The global canned tuna market has been segmented based on product type, distribution channel, and regions.

By Product Type

The product type segment is skipjack, yellowfin, and others. The skipjack canned tuna segment led the largest share of the canned tuna market with a market share of around 38% in 2021. This species has a robust and nutrient-rich seafood experience and is easily accessible in the market. The majority of the Skipjack tuna caught, or about 58.0% of the entire catch, is canned, according to information provided by Fish20.org. The Centre for the Promotion of Imports' figures show that skipjack species make up 75.0% of the canned tuna imported into Europe.

By Distribution Channel                                                              

The distribution channel includes hypermarket & supermarket, specialty stores, and online. The hypermarket & supermarket segment led the canned tuna market with a market share of around 42% in 2021. Major producers advertise their goods in physical retail establishments like supermarkets and hypermarkets. In addition, a number of businesses are opening new physical storefronts all around the world to increase their consumer base. For instance, according to a press release from Target Brands, Inc., the company has plans to add seven additional shops by the end of 2021 and over 25 new stores nationwide by the end of 2020. In the near future, an expanding number of offline retailers will broaden the reach of this distribution channel.

By Regional Analysis:

The regions analyzed for the canned tuna market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Europe region dominated the Canned Tuna market and held the 40% share of the market revenue in 2021.

• Europe region witnessed a major share. Due to consumers' increased preference for simplified, ready-to-eat seafood options, the industry in the region is expanding. The most popular marine species in Europe in 2018 was tuna, according to a report by the European Market Observatory for Fisheries and Aquaculture Products (EUMOFA). Some of the biggest consumers of canned tuna in the region include Italy, Spain, and the United Kingdom. Over the Projection period, these factors are expected to support the regional market's expansion.
• Middle East and Africa is anticipated to experience significant growth during the Projection period. New unexplored markets in Middle Eastern and African nations, such as Saudi Arabia and Egypt, are establishing themselves as significant markets with enormous growth potential. According to data published by "GLOBEFISH," the import of canned and processed tuna increased in Saudi Arabia by 23.3% and Egypt by 15.0% in 2019 when compared to the previous year.

Global Canned Tuna Market- Country Analysis:

• Germany

Germany's canned tuna market size was valued at USD 1.4 billion in 2021 and is expected to reach USD 1.8 billion by 2029, at a CAGR of 3.4% from 2022 to 2029.

The market demand and increased imports are fueled by the region's rising tuna consumption. According to data from Eurostat, the total amount of tuna imported into Germany in the first half of 2020 was over 58 thousand MT, an increase of 47% over the same time in 2019, or more than 18.5 thousand MT. Nearly 98% of the entire volume of imported tuna into Germany remains in canned form.

• China

China Canned Tuna’s market size was valued at USD 1 billion in 2021 and is expected to reach USD 1.26 billion by 2029, at a CAGR of 3% 2022 to 2029. Due to the country's fast urbanisation, population expansion, and strong growth in food processing, the market in China is expanding. Moreover, usage of tuna in most of the cooking style such as in salad, sushi, sandwich, pasta, and more fuels the demand for canned tuna in the country.

• India

India's Canned Tuna market size was valued at USD 0.75 billion in 2021 and is expected to reach USD 0.93 billion by 2029, at a CAGR of 2.8% from 2022 to 2029. Demand for canned tuna is fueled by growth in India's sea food industry. Increasing preference of people for seafood such as fish owing to its high nutrient and mainly protein content drives the market for canned tuna in the region.

Key Industry Players Analysis:                                                     

To increase their market position in the global canned tuna business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Frinsa del Noroeste S.A.
• Thai Union Group PCL.
• Grupo Calvo
• Wild Planet Foods Inc.
• Aneka Tuna Indonesia
• Bumble Bee Foods, LLC.
• Century Pacific Food Inc.
• Jealsa
• American Tuna Inc.
• Ocean Brands GP

Latest Development:

In December 2021, The acquisition of "Ligo," a company noted for its premium sardines and other marine products, was announced by Century Pacific Food, Inc., a food and beverage company with its headquarters in the Philippines.

In August 2021, The Bolton Group of Italy has purchased Wild Planet Foods, a market leader in canned fish. Bolton Group and Wild Planet will work together to establish a supply chain that is extremely ethical.

Report Metrics

Report Attribute	Details
Study Period	2021-2029
Base year	2021
CAGR (%)	5%
Market Size	9.8 billion in 2021
Projection period	2022-2029
Projection unit	Value (USD)
Segments covered	By Product Type, By Distribution Channel, and Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Frinsa del Noroeste S.A., Thai Union Group PCL., Grupo Calvo, Wild Planet Foods Inc., PT. Aneka Tuna Indonesia, Bumble Bee Foods, LLC., Century Pacific Food Inc., Jealsa, American Tuna Inc., Ocean Brands GP, among others
By Product Type	Skipjack Yellowfin Others
By Distribution Channel	Hypermarket & Supermarket Specialty Stores Online
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Canned Tuna Market by Product Type

• Skipjack
• Yellowfin
• Others

Global Canned Tuna Market by By Distribution Channel:

• Hypermarket & Supermarket
• Specialty Stores
• Online

Global Canned Tuna Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- Political difficulties have a significant impact on the variables that can affect the food industry's long-term profitability in a specific country or market. I am exposed to several political systems and environmental issues because I work in the food industry. There are groups that can speak out against the animal-based food industry, such as PETA. To succeed in such a dynamic industry as food across many countries, systemic risk management of the political environment must be diversified. A major factor is the country's economic stability and the value of food. The expansion of the market is also impacted by trade restrictions and tariffs pertaining to the food and consumer goods industries.

Economical Factors- While factors like industry norms in the surroundings have an impact on the firm's competitive advantage. By using economic indicators at the industry and country levels, such as growth rate and inflation, and sector-level indicators like food industry growth rate and consumer spending, among other things, the food industry is able to predict not only the growth trajectory of the canned tuna sector but also that of the market participants. Exchange rates have an impact on the availability, cost, and price of imported goods as well as the expenses related to exporting items.

Social Factor- Marketers at that company should develop a marketing message for consumers in the canned tuna industry, as common ideas and attitudes among the population have a big impact on how well they understand the target market's customers. The degree of education and educational standards in the food business have an impact on market expansion. Social variables also consider age distribution, career attitudes, health consciousness, and safety emphasis in addition to cultural characteristics. Social trends have an effect on a business' operations and product demand. For instance, an ageing population may signal a smaller and less enthusiastic workforce (thus increasing the cost of labor). Businesses may also change their management strategies to take into account these social developments.

Technological Factors- Technological features including R&D effort, automation, technology incentives, and the pace of technological progress are examples of technological factors. They can establish entry barriers, and the minimum effective production level, and have an impact on outsourcing choices. Additionally, changes in technology can have an impact on prices, quality, and innovation. A company should analyze the industry's technological state as well as how quickly it is being disrupted by technology. Slow technological disruption will allow more time, whereas rapid disruption may give a firm little time to adapt and be profitable.

Environmental Factors- Environmental considerations include ecological and environmental elements including weather, climate, and climate change, which may have a particularly negative impact on some sectors of the economy like tourism, agriculture, and insurance. Additionally, as people become more aware of the possible effects of climate change, it is changing how businesses run and the products they offer, creating new markets but also eroding or eliminating existing ones. Climate changes such as climate change, greenhouse gas emissions, and growing pollution, are effectively by prominent market players. It should put more emphasis on waste management, recycling, renewable energy sources, and food wastage that decomposes naturally. It should also be aware of how its resources and waste are being used up, as this could have a detrimental effect on its brand reputation and consumer loyalty.

Legal Factors- Market participants must follow all laws, binding rules, and regulations in order to win consumer loyalty and their faith in their brand items. Today, regulations governing consumer protection, data privacy, intellectual property rights (IPR), health and safety, and employees and the workplace are required to be obeyed in almost every country. As a result, it becomes crucial for this company to operate legally and morally in order to avoid facing legal action, fines, or other sanctions from a court of law. FSSAI is in charge of keeping an eye on standards, safety, and adulteration of food products, same like in India. The legislation mandates that all food establishments abide by this rule. Similar to how the FDA in the USA controls the food environment.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Product Type
     • 3.2. Market Attractiveness Analysis By Distribution Channel
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Online industry in developing countries is expanding
   • 3. Restraints
     • 3.1. Increasing preference for plant-based food
   • 4. Opportunities
     • 4.1. Increasing preference for seafood
   • 5. Challenges
     • 5.1. Disease related with canned tuna

6. Global Canned Tuna Market Analysis and Projection, By Product Type
   • 1. Segment Overview
   • 2. Skipjack
   • 3. Yellowfin
   • 4. Others
7. Global Canned Tuna Market Analysis and Projection, By Distribution Channel
   • 1. Segment Overview
   • 2. Hypermarket & Supermarket
   • 3. Specialty Stores
   • 4. Online
8. Global Canned Tuna Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Canned Tuna Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Canned Tuna Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Product Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Frinsa del Noroeste S.A.
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Product Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Thai Union Group
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Product Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Grupo Calvo
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Product Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Wild Planet Foods Inc.
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Product Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • PT Aneka Tuna Indonesia
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Product Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Bumble Bee Foods LLC
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Product Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Century Pacific Foods Inc
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Product Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • Jealsa
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Product Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • American Tuna Inc.
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Product Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • Ocean Brands GP
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Product Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
2. Global Skipjack, Canned Tuna Market, By Region, 2021–2029 (USD Billion)
3. Global Yellowfin, Canned Tuna Market, By Region, 2021–2029 (USD Billion)
4. Global Others, Canned Tuna Market, By Region, 2021–2029 (USD Billion)
5. Global Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
6. Global Hypermarket & Supermarket, Canned Tuna Market, By Region, 2021–2029 (USD Billion)
7. Global Specialty Stores, Canned Tuna Market, By Region, 2021–2029 (USD Billion)
8. Global Online, Canned Tuna Market, By Region, 2021–2029 (USD Billion)
9. Global Canned Tuna Market, By Region, 2021–2029 (USD Billion)
10. North America Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
11. North America Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
12. USA Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
13. USA Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
14. Canada Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
15. Canada Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
16. Mexico Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
17. Mexico Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
18. Europe Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
19. Europe Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
20. Germany Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
21. Germany Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
22. France Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
23. France Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
24. UK Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
25. UK Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
26. Italy Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
27. Italy Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
28. Spain Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
29. Spain Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
30. Asia Pacific Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
31. Asia Pacific Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
32. Japan Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
33. Japan Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
34. China Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
35. China Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
36. India Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
37. India Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
38. South America Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
39. South America Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
40. Brazil Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
41. Brazil Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
42. Middle East and Africa Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
43. Middle East and Africa Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
44. UAE Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
45. UAE Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)
46. South Africa Canned Tuna Market, By Product Type, 2021–2029 (USD Billion)
47. South Africa Canned Tuna Market, By Distribution Channel, 2021–2029 (USD Billion)

List of Figures 

1. Global Canned Tuna Market Segmentation
2. Canned Tuna Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Canned Tuna Market Attractiveness Analysis By Product Type
9. Global Canned Tuna Market Attractiveness Analysis By Distribution Channel
10. Global Canned Tuna Market Attractiveness Analysis By Region
11. Global Canned Tuna Market: Dynamics
12. Global Canned Tuna Market Share By Product Type (2021 & 2029)
13. Global Canned Tuna Market Share By Distribution Channel (2021 & 2029)
14. Global Canned Tuna Market Share by Regions (2021 & 2029)
15. Global Canned Tuna Market Share by Company (2020)