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Global Canned Tuna Market to Grow at a CAGR of 4.7% in the Forecast Period of 2022-2027, Driven by Low-Cost Tuna’s Nutritional Value and Long Shelf-Life

According to a new report by EMR titled, ‘Global Canned Tuna Market Report and Forecast 2022-2027’, the global canned tuna market is expected to grow at a CAGR of 4.7% during the period 2022-2027, driven by low-cost tuna’s nutritional value and long shelf-life.

With high protein quality and low-calorie density, fish and seafood items offer a high nutritional value. Despite their low-fat content, they include long-chain polyunsaturated fatty acids (PUFA), such as eicosapentaenoic and docosahexaenoic acids (EPA and DHA), which are essential for human growth and development and have anti-inflammatory and neuroprotective properties. In addition, fish and seafood items are high in minerals and vitamins. Lipids are the main source of energy for fish, and are deposited in fat depots throughout the body. Tunas devote a significant amount of energy to gamete generation, the contents of which are known to change with the reproductive cycle.

Of over forty tuna species, seven command international commercial significance: albacore (Thunnus alalunga), bigeye (Thunnus obesus), skipjack (Katsuwonus pelamis), yellowfin (Thunnus albacares) and three species of bluefin tuna [(Atlantic bluefin (Thunnus thynnus), Southern bluefin (Thunnus maccoyii) and the Pacific bluefin (Thunnus orientalis)]. Of these, skipjack tuna and yellowfin tuna (YFT) account for majority of the catches, driving the global canned tuna industry.

Tuna is a low-GI food that is high in selenium, Vitamin B3 (niacin), Vitamin B12, Vitamin B6, protein, phosphorus, Vitamin D, and potassium. Magnesium, choline, Vitamin B1 (thiamine), Vitamin B2 (riboflavin), and iodine are also present. Further, tuna is a high-protein, low-fat food. Tuna is a popular seafood and considered one of the five top seafood species consumed across the globe. It is amongst the most economically valued fish globally.

The European Union and the United States are the largest consumers of canned tuna. Japan is the largest consumer of Sashimi grade tuna. While skipjack tuna accounts for the majority of canned tuna imports in the EU, yellowfin tuna (YFT) is becoming popular among consumers owing to its rich flavour and outstanding texture. Yellowfin tuna's market share is predicted to drive category growth during the period 2022-2027.

International consumption of low-cost, shelf-stable canned tuna increased in 2020, boosting international trade. The promising global consumption pattern for canned tuna fostered demand for raw tuna and semi-processed cooked loins from tuna canners in Southeast Asia and Europe. Tuna processors in the Philippines imported over 29% more skipjack for processing cooked loins and canned tuna in 2020.

Key Findings of the Report

  • Thailand, Indonesia, Philippines, and Vietnam are major exporters of processed canned tuna. 
  • Key importers of tuna are the USA, Italy, Spain, France, United Kingdom, Germany, Japan, Australia, Netherlands, and Saudi Arabia. 
  • Low-cost, shelf-stable canned tuna, with its nutritional value, is expected to be a key driver of the global canned tuna market.

 

Global Canned Tuna Market Segmentation

By product, the global canned tuna market is classified as follows:

  • Skipjack
  • Yellowfin
  • Others

By distribution channel, the global canned tuna market is segmented into:

  • Hypermarket and Supermarket
  • Specialty Stores
  • Online

By region, the global canned tuna market is classified into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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