Global Canned Tuna Market Overview:
Canned tuna provides numerous nutrients to our human body such as high-quality protein, selenium, Vitamin D, among others. Numerous types of canned tuna species are used such as albacore tuna, skipjack tuna, yellowfin tuna, bigeye tuna, and bluefin tuna. In the last few years, canned tuna demand has significantly increased. For instance, according to an article published by the National Aquaculture Association (United States), each year more than 300 million pounds of canned tuna is imported into the United States from other countries. In addition, the major supplier includes canned tuna to the United States, which includes the Philippines, Thailand, Vietnam, among others. Hence, rising demand for canned tuna products in the United States, rising disposable income in the Asia Pacific and changing lifestyle among middle-class family are projected to drive the growth of this market over the forecast period.
As per latest study released by AMA Research, the Global Canned Tuna market is expected to see growth rate of 4.2%Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
One of the latest trends of this market is Rising Government Supports for Fish Farming and Aquaculture
Market Growth Drivers:
Changing Consumer Preference towards Canned tuna proteins Products and Increasing usage of Canned Tuna in various application such as Foodservice and Households
Challenges:
Issue related to Growing Concern about Water Pollution across the world
Restraints:
Increasing concern regarding the Stringent Government Rules and Regulation for Safety and Growing Inclination towards Vegan Food and Vegetarian Lifestyle worldwide
Opportunities:
The Upsurge in Use of Technologically in Modern Fishing and Fish Farming and Raising Awareness about Fishing Canoes in Emerging Countries such as China, India, and others
Competitive Landscape:
The market is highly fragmented with several major players such as Thai Union Group (Thailand), Alliance Select Foods International, Inc. (Philippines), Ocean Brands GP (Canada), among others.
Some of the key players profiled in the report are Thai Union Group (Thailand), Alliance Select Foods International, Inc. (Philippines), Ocean Brands GP (Canada), Bumble Bee Foods, LLC (United States), StarKist Co. (United States), Princes Group (United Kingdom), Golden Prize Canning Co., Ltd.PT. (Thailand), Aneka Tuna (Indonesia), Wild Planet Foods Inc. (United States) and Hi-Q Food Products Co., Ltd. (Thailand). Additionally, following companies can also be profiled that are part of our coverage like American Tuna Inc. (United States), Safcol Australia Pty. Ltd. (Australia), Conga Foods Pty Ltd (Australia), Tohfe Food Product Company (Iran) and Pegasusfood Co., Ltd. (United Kingdom). Analyst at AMA Research see United States Vendors to retain maximum share of Global Canned Tuna market by 2028. Considering Market by Distribution Channel , the sub-segment i.e. Retail Outlets will boost the Canned Tuna market. Considering Market by Species Type, the sub-segment i.e. Albacore Tuna will boost the Canned Tuna market.
In 2021, Ocean Brands GP announced the completion of two recent acquisitions: Nonna Pia’s. Nonna Pia's handmade reductions are prepared with premium aged balsamic vinegar from Modena, Italy. Nonna Pia's products may now be available in grocery stores across North America, despite its humble origins in a small farmers market in Whistler, B.C. in 2010. Ocean Brands will continue to run this firm independently, preserving Nonna Pia's values, culture, and workers while giving assistance in realizing the business's development potential.
Food and Drug Administration (FDA) has implement regulation in fish and fishery products. The regulation is implemented is due to the effect as well as an efficient way to ensure that these products must be safe.
What Can be Explored with the Canned Tuna Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Canned Tuna Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Canned Tuna
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Canned Tuna market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Canned Tuna market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Canned Tuna, Suppliers of Canned Tuna, Wholesalers, distributors and retailers of Canned Tuna, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.