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Global Canned Tuna Market: By Product: Skipjack, Yellowfin, Others; By Distribution Channel: Hypermarket and Supermarket, Specialty Stores, Online; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Industry Events and Developments
Global Canned Tuna Market Outlook
The global canned tuna market was estimated to be nearly USD 8.44 billion in 2021, and is expected to grow at a CAGR of 4.7% during the period 2023-2028.
Nutritional Value, Long Shelf-life and Low-cost Expected to Drive the Market
Tuna is a low glycemic index (GI) food and a good source of selenium, Vitamin B3 (niacin), Vitamin B12, Vitamin B6, protein, phosphorus, Vitamin D and potassium. It also carries magnesium, choline, Vitamin B1 (thiamine), Vitamin B2 (riboflavin) and iodine. Tuna is high in protein and low in fat.
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Seven species of tuna possess global 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)].
Canned tuna is the world's third most popular seafood. Tuna consumption per capita in the EU is estimated to be over 3 kg, accounting for over 12% of total fish consumption. The majority of canned tuna imported by the EU is skipjack tuna. However due to its rich flavour and superb texture, yellowfin tuna (YFT) is gaining popularity among consumers. As a result, yellowfin tuna's market share is predicted to drive category growth during the period 2023-2028.
In 2020, consumption of low-cost and shelf-stable canned tuna increased globally and stimulated international trade. There was also a rise in demand for frozen raw material from Asia and Europe to meet increasing demand. Fishing logistics faced disruption owing to the COVID-19 outbreak as tuna canneries across the globe required more raw material to meet increased market demand. H2 2020 witnessed low to moderate catches in key oceans and stable raw material prices.
The encouraging global consumption pattern for canned tuna promoted demand for raw tuna and semi-processed cooked loins in 2020 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 the same year.
Household demand for canned tuna remained robust across small and large markets globally, stimulating international trade in 2020. Exports grew from Thailand, Ecuador, China, and Spain. Philippines took Indonesia’s place as the fifth largest exporter in the first nine months of 2020. Thailand largely exported ready-to-eat products. Supplies to USA and EU increased significantly. A majority of Ecuador’s processed tuna was supplied to the EU. Colombia was the second largest export market for Ecuador. Ecuador exports also increased to Argentina, Chile, Uruguay, Panama, and Costa Rica, but decreased to USA. As supply of canned tuna increased to Japan and the Middle East markets, exports from the Philippines witnessed an increase.
In 2020, strong demand for canned tuna continued in EU and North and South American markets. Thailand was the key supplier to the USA. Strong demand for canned tuna also persisted in the Middle East and North Africa region. Canned tuna imports increased in Japan, Singapore, Malaysia, and Taiwan (Province of China). Australia, New Zealand and other small island nations saw moderate demand for canned black meat of tuna.
USA and European Union Largest Consumers of Canned Tuna
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. Thailand, Indonesia, Philippines, and Vietnam are major exporters of processed canned tuna. Key importer nations of tuna are the USA, Italy, Spain, France, United Kingdom, Germany, Japan, Australia, Netherlands, and Saudi Arabia.
Global Canned Tuna Market Segmentation
By product, the market is classified as follows:
- Skipjack
- Yellowfin
- Others
By distribution channel, the market is segmented into:
- Hypermarket and Supermarket
- Specialty Stores
- Online
By region, the market is classified into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Key Industry Players in the Global Canned Tuna Market
The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- American Tuna
- Thai Union Group PCL
- Bumble Bee Foods LLC
- Century Pacific Food Inc.
- Wild Planet Foods Inc.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Distribution Channel, Region |
| Breakup by Product | Skipjack, Yellowfin, Others |
| Breakup by Distribution Channel | Hypermarket and Supermarket, Specialty Stores, Online |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | American Tuna, Thai Union Group PCL, Bumble Bee Foods LLC, Century Pacific Food Inc., Wild Planet Foods Inc., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Canned Tuna Market Analysis
8.1 Key Industry Highlights
8.2 Global Canned Tuna Historical Market (2018-2022)
8.3 Global Canned Tuna Market Forecast (2023-2028)
8.4 Global Canned Tuna Market by Product
8.4.1 Skipjack
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Yellowfin
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Others
8.5 Global Canned Tuna Market by Distribution Channel
8.5.1 Hypermarket and Supermarket
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Specialty Stores
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Online
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global Canned Tuna Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Canned Tuna Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Canned Tuna Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Canned Tuna Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Canned Tuna Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Canned Tuna Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 American Tuna
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Thai Union Group PCL
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Bumble Bee Foods LLC
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Century Pacific Food Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Wild Planet Foods Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Canned Tuna Market: Key Industry Highlights, 2018 and 2028
2. Global Canned Tuna Historical Market: Breakup by Product (USD Million), 2018-2022
3. Global Canned Tuna Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Global Canned Tuna Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
5. Global Canned Tuna Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
6. Global Canned Tuna Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Canned Tuna Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Canned Tuna Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Canned Tuna Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Canned Tuna Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Canned Tuna Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Canned Tuna Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Canned Tuna Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Canned Tuna Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Canned Tuna Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Canned Tuna Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Canned Tuna Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Canned Tuna Market Structure
Key Questions Answered in the Report
In 2021, the global canned tuna market attained a value of nearly USD 8.44 billion.
The market is estimated to grow at a CAGR of 4.7% between 2023 and 2028.
The major drivers of the market include the thriving food and beverage industry, rising disposable incomes, rising population, and rapid development of supermarkets and convenience stores.
The growing preference towards consuming seafood owing to the longer shelf-life, and high nutritional value are expected to be a key trend guiding the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Skipjack, and yellowfin, among others are the major products included in the market report.
Hypermarket and supermarket, and specialty stores, among others are the different distribution channels based on which the market is segmented.
The major players in the industry are American Tuna, Thai Union Group PCL, Bumble Bee Foods LLC, Century Pacific Food Inc., and Wild Planet Foods Inc., among others.
Analyst Review
The global canned tuna market attained a value of USD 8.44 billion in 2021, driven by the growing popularity of seafood, high nutritional value of the product, and increasing disposable incomes. Aided by the increasing inclination towards health and fitness, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 4.7%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product, the market is divided into skipjack, and yellowfin, among others. On the basis of distribution channel, the market is divided into hypermarket and supermarket, and specialty stores, among others. The major regional markets for canned tuna are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include American Tuna, Thai Union Group PCL, Bumble Bee Foods LLC, Century Pacific Food Inc., and Wild Planet Foods Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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