Skipjack Canned Tuna Species to Dominate the Canned Tuna Market During the Forecast Period
The
key factors driving the canned tuna market are the growing number of product
launches, rising demand for packaged items, and increasing partnerships and
acquisitions among companies.
According to
TechSci Research report, “Canned Tuna Market– Global Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2018-2028F,” the global canned tuna market is
expected to grow during the forecast period owing to the factors such as increasing
demand for convenience food and packaged products and rising demand for seafood.
A saltwater fish related
to mackerel is tuna. It is one of the most consumed fish species in the world
and comes in eight different commercial kinds, ranging in size from the small
skipjack tuna to the huge bluefin. Fresh tuna can be consumed raw, cooked, or
tinned (which is always pre-cooked). In specific to the United Kingdom market,
tuna in cans is preserved in varieties such as oil, spring water, sunflower
oil, or brine.
Tuna stands out among
other fish because of its distinctive flavor, which is why it is so
popular all around the world. Due to its
flavor, nutritional value, and lower carbon footprint than other meat and beef
products, fish consumption has increased dramatically over the past few years.
The rise in health
consciousness is the main driving force behind the market's expansion for
canned tuna. The market is witnessing a
significant shift in customer preferences for seafood due to its high content
of important vitamins, proteins, and minerals, which will serve as the primary
drivers for the canned tuna market globally. Additionally, the products'
lengthy shelf lives and ease of transporting them over long distances drive the
canned tuna market globally. Tuna helps to strengthen bones,
increases immunity to reduce disease risk, and speeds up metabolism to promote
growth. As more people become aware of the advantages of canned tuna, the
market will grow favorably. As producers make the product available online to
the tech-savvy millennial and gen-Z generations, the demand for canned tuna is
also rising. The market for canned tuna will also face challenges from the
rising popularity of veganism and plant-based diets as moral and
environmentally responsible choices by people who care about animals and the
environment.
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The global canned
tuna market is segmented based on tuna species, flavor, distribution channel,
regional distribution and competitive landscape. Based on tuna species, the market
is segmented into skipjack canned tuna, albacore canned tuna, yellowfin canned tuna,
bluefin canned tuna, and others. Among these, the skipjack segment holds the
leading share in the market and is expected to remain dominant during the
forecast period. This species has a rich and
nutrient-rich seafood experience and is easily accessible in the market. According
to Fish20.org, the majority of the Skipjack tuna caught, or about 58.0% of the
entire market, is significantly influencing the canned tuna market.
Based on distribution channel,
the market is segmented into supermarkets/hypermarkets, convenience stores,
food specialty stores, online, and others. Among these, the supermarkets/hypermarkets
segment holds the leading share in the market during the forecast period. Major
producers advertise their goods in physical retail establishments like
supermarkets and hypermarkets. In addition, a number of businesses are opening
new physical stores around the world to increase their consumer base.
Based on region, the market
is segmented into North America, Europe, Asia-Pacific, Middle East & Africa,
and South America. Among these, the Europe region holds the leading share in
the market and is likely to remain dominant during the forecast period due to
customers' growing preference for
ready-to-eat, and practical seafood options. 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.
Key
market players operating in the Canned Tuna market include:
- Frinsa del Noroeste
S.A.
- Thai Union Group
Public Company Limited
- Bumble Bee Foods,
LLC
- Century Pacific
Food Inc.
- Wild Planet Foods,
Inc.
- PT. Aneka Tuna
Indonesia
- American Tuna, Inc.
- Ocean Brands GP.
- LUIS CALVO SANZ
S.A. (Grupo Calvo)
- The StarKist Co.
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“Healthy fatty acids, which
are critical for development and growth, are abundant in tuna. The need of
meeting nutritional demands is especially important for breastfeeding moms and
pregnant women. Demand for tuna is rising as more people adopt the trend of
including nutrient-dense foods in their diets on a daily basis to improve their
health and functionality. In addition, the rapid expansion of e-commerce
platforms has reinforced the supply chain, which is anticipated to benefit the
market's revenue growth. Online retail platforms have expanded significantly,
making a variety of canned tuna easier to access worldwide.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Canned Tuna Market– Global Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2018-2028F Segmented By Tuna
Species (Skipjack Canned Tuna, Albacore Canned Tuna,
Yellowfin Canned Tuna, Bluefin Canned Tuna, and Others), By Flavor (Lemon, Spicy, Tomato, Picante, Clover Leaf, and Others),
By Distribution Channel (Supermarkets/Hypermarkets,
Convenience Stores, Food Specialty Stores, Online, and Others), By Region,”
has
evaluated the future growth potential of canned tuna globally and provides statistics and information on market structure,
size, share, and future growth. The report provides cutting-edge market
intelligence and helps decision-makers to make sound investment decisions.
Besides, the report also identifies the emerging trends along with essential
drivers, challenges, and opportunities present in the market of canned tuna globally.
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