Dublin, Aug. 02, 2023 (GLOBE NEWSWIRE) -- The "Canned Tuna Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018 - 2028F Segmented By Tuna Species, By Flavor, By Distribution Channel, By Region" report has been added to ResearchAndMarkets.com's offering.
The global canned tuna market is experiencing a significant boost due to a rising shift in consumer preferences towards seafood and a growing preference for canned or packaged food items.
Tuna fish, known for its potential as a protein source with low fat and calories, has gained popularity worldwide, being preferred in various forms such as sushi, fresh cooking, freezing, and canning. While the industry acknowledges that canned tuna tends to have more sodium compared to fresh tuna, it offers a nutritious diet rich in protein, vitamins, and minerals like iron, selenium, phosphorus, B-complex vitamins, as well as vitamins A and D.
Furthermore, canned tuna contains beneficial omega-3 essential fatty acids, DHA, and EPA. The nutritional value of canned tuna can vary depending on its packaging form, whether packed in water or oil, with calorie and fat content differing accordingly.
Europe stands out as a significant market for canned tuna, with Spain being one of the leading nations with substantial tuna consumption, particularly canned tuna, making it a noteworthy region for the industry's growth.
Growing Demand for Packaged Food Items Fuels the Market Growth
One of the main factors anticipated to propel the expansion of the global canned tuna market in the near future is the increased demand for packaged or canned food products.
The consumers' hectic life schedules and the growing availability of these canned tuna products in the packaged food offering outlets are further influencing the demand for packaged or canned products to provide convenience to the customers.
Furthermore, consumer preferences for foods high in protein are growing quickly in developed nations, and as tuna is the seafood with the right quantity of protein, demand for canned tuna is rising noticeably. The enormous preference for convenience food being caused by changing lifestyles in rising economies around the world is expected to propel industrial growth over the coming years.
Increasing the Number of Product Launches Fuels the Market Growth
Companies are focused more on the launch of new products in order to attract a large customer base and generate a significant share within the market of canned tuna at a global level.
For instance, in 2022, the company like "Century Pacific Food's plant-based protein company" launched canned tuna under the brand name "unMEAT," which offers a new fish-free canned tuna as it contains no trans fats or mercury and is created with non-GMO ingredients. This product is currently available only within the United States market to its signified online merchants and supermarket stores.
Additionally, the brand "Alcampo," which is a subsidiary of the company Auchan, came into the market with the launch of a sustainable canned tuna that has been MSC-certified under its private-label brand. However, the Marine Stewardship Council (MSC) Chain of Custody (CoC) standards and MSC fisheries are determined to assist companies and organizations in identifying wild fish which can be used for consumption.
However, this company is not the first firm to offer such certified tuna. There are around 430 merchants and brands selling MSC-certified tuna.
Strategic Acquisitions & Partnerships among Companies to Drive the Market Growth
Companies are increasing their presence within the market by the tactics of collaboration and acquisition from other companies in order to increase revenue share and cater to the growing demand from the industry.
For instance, Bolton Group International acquired Wild Planet Foods in 2021 and aims to solidify its position in the global canned tuna industry with enhanced supply chain management. However, by 2024, the company aims to increase the percentage of sustainably harvested seafood in its portfolio from the current 70% to 100%.
Market Dynamics
Drivers
- Increase in the number of product launches
- Rising partnerships and collaborations among companies
- Growing consumption of seafood
Market Trends & Developments
- Changing consumer lifestyle
- Rapid growth of e-commerce channels
- Growing demand for packaged and canned food products
- Propelling demand for flavored canned tuna
Challenges
- Risks of botulism
- Growing shift towards plant-based food products
Voice of Customer Analysis (B2C Model Analysis)
- Sample Size Determination
- Respondent Demographics
- By Gender
- By Age
- By Occupation
- Brand Awareness
- Brand Satisfaction
- Factors Influencing Purchase Decision
- Customer Satisfaction
- Challenges Faced Post Purchase
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global canned tuna market.
- 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.
Report Scope:
Global Canned Tuna Market, By Tuna Species:
- Skipjack Canned Tuna
- Albacore Canned Tuna
- Yellowfin Canned Tuna
- Bluefin Canned Tuna
- Others
Global Canned Tuna Market, By Flavor:
- Lemon
- Spicy
- Tomato
- Picante
- Clover Leaf
- Others
Global Canned Tuna Market, By Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Food Specialty Stores
- Online
- Others
Global Canned Tuna Market, By Region:
North America
- United States
- Canada
- Mexico
Europe
- Russia
- France
- United Kingdom
- Italy
- Spain
Asia-Pacific
- China
- India
- Japan
- Indonesia
- Vietnam
Middle East & Africa
- Saudi Arabia
- Egypt
- UAE
- Turkey
South America
- Brazil
- Argentina
- Colombia
For more information about this report visit https://www.researchandmarkets.com/r/1ysdc4
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