Global Canned Tuna Market Report 2022 to 2027: Players Include Golden Prize Canning, Thai Union Group, Grupo Calvo and Wild Planet Foods - ResearchAndMarkets.com
It was reported that Thailand achieved double-digit growth with substantial growth in exports to the Middle-Eastern countries.
The "Canned Tuna Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global canned tuna market was evaluated at US$ 9626.877 million in the year 2020, growing at a CAGR of 4.14% reaching the market size of US$ 12790.573 million by the year 2027.
Companies Mentioned
- A.E.C. Canning Co., Ltd.
- American Tuna
- Bumble Bee Foods, LLC
- Ocean's
- Golden Prize Canning Co., Ltd.
- Thai Union Group PCL
- Grupo Calvo
- Wild Planet Foods Inc.
- Frinsa del Noroeste S.A.
- PT. Aneka Tuna Indonesia
According to the FAO 2019 information, the worldwide demand for processed and canned tuna continued to increase, and this was further supported by stable and cheaper raw material supplies. It was noticed that imports in the United States and the EU28, in the two large markets, were found to be steady, with minimal growth in supplies.
On the other hand, import growth in the Middle Eastern markets was found to be remarkable. Based on exports, In the first half of 2019, Thailand, Ecuador, and Spain were reported to be the top three suppliers of processed and canned tuna to the global industry. China has replaced the Philippines in the fourth position.
It was reported that Thailand achieved double-digit growth with substantial growth in exports to the Middle-Eastern countries. Minor growth was observed in the United States market with a 2% growth rate. However, Thailand's exports reported a negative growth trend in the EU28 market, with a -21% growth.
Concerns regarding the overfishing of tuna species are projected to hamper the market's growth in the forecast period.
Tuna species are integral to the diets of many individuals and are also one of the most commercially valuable fish at the global level. The majority of the tuna fish market consists of four major species, namely, skipjack, accounting for over half of the global total catch of tuna.
This is followed by the yellowfin, bigeye, and albacore. The critically endangered bluefin tuna comprises only around 1% of the total global catch. It has been noticed that tuna conservation and management have not evolved along with the advancements in methods of catching.
Hence, most of the tunas are fully exploited, which means that there is no room for fishery expansion. While in others, overexploitation is reported, and this poses a risk of stock collapse.
Significant health benefits of tuna are predicted to boost tuna consumption, further increasing the market demand during the forecast period.
It has been reported that tuna consumption is quite beneficial for health. This involves multiple benefits that include improvement in eyesight, a healthy heart, and improvement in hair quality. For maintaining heart health, tuna consumption will provide omega-3 fatty acids that will result in the reduction of cholesterol levels in the arteries, especially, bad cholesterol, LDL. Hence, this will further contribute to efficiently carrying out the blood pumping function of the heart, and further, promote the maintenance of good health.
Tuna is considered to be rich in potassium, which is known to lower blood pressure. Omega-3 fatty acids, in conjunction with potassium, contribute to bringing an anti-inflammatory effect to the cardiovascular system, and this, in turn, helps in lowering blood pressure. Furthermore, consuming tuna also helps reduce stroke risks and heart attacks.
Tuna helps in improving the body's immune system. This is because it is rich in manganese, zinc, vitamin C, and selenium. It, therefore, aids in strengthening the immune system of the human body. These antioxidants protect against deadly diseases such as cancer by fighting off free radicals from the body.
For weight management, tuna helps in balancing the calories and, as it is low in fat content and rich in proteins and other nutrients, it contributes to maintaining a healthy weight.
Furthermore, tuna helps in improving metabolic rate and increasing the functionality of body organs. This, in turn, helps in keeping the human body energetic, healthy, and active.
Additionally, the vitamin B complex in tuna contributes to keeping skin healthy. This is because it contains the protein elastin and thus contributes to providing a smooth tone to the skin. Tuna is known for giving radiant skin.
Market Segmentation:
By Species
- Skipjack
- Yellowfin
- Bigeye
- Albacore
By Distribution Channel
- Online
- Offline
- Hypermarket & Supermarket
- Specialty Stores
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Middle East and Africa
- UAE
- Israel
- Saudi Arabia
- Asia Pacific
- Japan
- China
- India
- Thailand
- Indonesia
- Taiwan
For more information about this report visit https://www.researchandmarkets.com/r/yhcuxn
View source version on businesswire.com: https://www.businesswire.com/news/home/20230120005182/en/