The canned tuna market was valued at US$ 12.98 billion in 2023 and is expected to reach US$ 17.20 million by 2031; it is estimated to record a CAGR of 3.6% during 2023–2031.
MARKET ANALYSIS
Canned tuna, a processed form of tuna, is a versatile ingredient that can be used directly in a wide range of recipes, including salads, sandwiches, cutlets, spring rolls, and various pasta dishes. The increasing number of health-conscious consumers seeking convenient protein sources, along with a growing reliance on ready-to-cook and ready-to-eat food products, has driven the expansion of the canned tuna market. Furthermore, changing dietary preferences, fueled by the growing awareness of the nutritious health benefits of tuna, have contributed to the market's growth. Additionally, strategic initiatives such as product launches, developments, mergers, acquisitions, and collaborations by key market players have also played a significant role in the expansion of the canned tuna market. Notably, in March 2021, Thai Union’s SEALECT Tuna brand introduced a limited-edition series of canned tuna featuring a packaging design with Doraemon, aimed at attracting consumers coinciding with the release of The Movie - Standby Me Doraemon 2.
E-commerce and direct-to-consumer (D2C) platforms provide brands with a direct channel to reach consumers and bypass traditional retail distribution channels. With the increasing popularity of online shopping and the convenience of purchasing groceries online, canned tuna brands can leverage e-commerce platforms and their websites to expand their reach and accessibility to consumers. By establishing an online presence, brands can showcase their products, communicate their brand story, and engage directly with consumers, fostering stronger relationships and brand loyalty.
Moreover, the shift toward e-commerce and D2C sales offers canned tuna brands greater control over their marketing strategies, pricing, and promotions, enabling them to tailor their offerings to meet their target audience's specific needs and preferences. Brands can leverage data analytics and consumer insights to personalize marketing campaigns, optimize product assortments, and create targeted promotions that resonate with online shoppers. Additionally, D2C sales allow brands to collect valuable consumer feedback and insights, enabling them to continuously improve their products and customer experience based on real-time feedback.
Furthermore, expanding e-commerce and D2C sales channels allows canned tuna brands to experiment with new product offerings, packaging formats, and value-added services to differentiate themselves in the market and drive consumer engagement. Brands can introduce exclusive online-only products, limited edition flavors, or subscription services that incentivize consumers to purchase directly from their website. Additionally, market players can offer convenient features such as auto-replenishment options, recipe suggestions, and educational content to enhance the online shopping experience and encourage repeat purchases. Overall, the expansion of e-commerce and D2C sales channels can help canned tuna brands deepen their relationships with consumers, drive sales growth, and stay ahead in a competitive market landscape. Thus, expanding e-commerce and D2C sales through company websites would present a significant opportunity for the canned tuna market during the forecast period.
GROWTH DRIVERS AND CHALLENGES
Canned tuna is a valuable source of high-quality protein, essential for the repair and maintenance of tissues, muscles, and organs. Its protein content also contributes to a sense of fullness, making it a satisfying and filling choice for individuals looking to manage their weight or increase muscle mass.
Canned tuna contains omega-3 fatty acids, particularly eicosatetraenoic acid (EPA) and docosahexaenoic acid (DHA). These fatty acids are known for their numerous health benefits, including reducing the risk of heart disease, improving brain function, and supporting overall cognitive health. Incorporating omega-3 fatty acids into the diet through canned tuna consumption can help consumers maintain a healthy heart and brain function.
Furthermore, canned tuna is a good source of various vitamins and minerals, including vitamin D, vitamin B12, selenium, and potassium. Vitamin D is essential for smooth immune function and bone health, whereas vitamin B12 supports nerve function and red blood cell production. Selenium is an antioxidant, protecting cells from damage, and potassium helps regulate blood pressure and muscle function. By consuming canned tuna, consumers can obtain these essential nutrients, contributing to good health and well-being.
Canned tuna is low in saturated fats and cholesterol; thus, it is a heart-healthy choice for individuals willing to reduce their risk of cardiovascular disease. The American Heart Association recommends consuming fish such as tuna at least twice weekly as part of a heart-healthy diet. As canned tuna contains protein, omega-3 fatty acids, vitamins, and minerals, it offers consumers a convenient and nutritious option to support their health goals, which drives the canned tuna market size.
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Canned Tuna Market: Strategic Insights
Market Size Value in US$ 12.98 billion in 2023 Market Size Value by US$ 17.20 billion by 2031 Growth rate CAGR of 3.6% from 2023 to 2031 Forecast Period 2023-2031 Base Year 2023
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Canned Tuna Market: Strategic Insights
| Market Size Value in | US$ 12.98 billion in 2023 |
| Market Size Value by | US$ 17.20 billion by 2031 |
| Growth rate | CAGR of 3.6% from 2023 to 2031 |
| Forecast Period | 2023-2031 |
| Base Year | 2023 |
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REPORT SEGMENTATION AND SCOPE
The "Global Canned Tuna Market Analysis" has been carried out by considering segments such as type, category, distribution channel, and geography. The report provides key statistics on the use of canned tuna across the world, along with their demand in major regions and countries. In addition, it provides a qualitative assessment of factors affecting the canned tuna market size. It also includes a comprehensive analysis of the leading players in the market and their key strategic developments. Canned tuna market analysis helps identify the canned tuna market trends, key driving factors, and lucrative opportunities that would, in turn, aid in generating higher revenues.
The ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global canned tuna market, which helps understand the entire supply chain and various factors influencing the market growth.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
SEGMENTAL ANALYSIS
The canned tuna market is segmented on the basis of type, category, distribution channel, and geography. Based on type, the market is segmented into albacore, yellowfin, skipjack, and others. The albacore segment holds the largest canned tuna market share. Albacore tuna/longfin tuna is found in tropical waters across the world. The canned albacore tuna is mostly labeled as “white meat tuna” due to its mild flavor and white flesh. Consumers, especially in France, the US, and Spain prefer albacore canned tuna due to its low-fat and high protein content with a mild flavor. Albacore meat is a versatile ingredient used in various dishes such as pastas and salads; it is also used as a substitute for chicken. Albacore tuna species is rich in omega-3 acids, proteins, minerals, and essential vitamins. This species is low in fat and mercury. Thus, the preference for canned albacore tuna is high among price-sensitive and health-conscious consumers. These factors drive the canned tuna market growth for the albacore segment.
Canned Tuna Market Share– by Distribution Channel, 2023 and 2031
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
REGIONAL ANALYSIS
The report provides a detailed overview of the global canned tuna market with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Europe accounted for the largest global canned tuna market share, and the market in the region was valued at ~US$ 4,557.62 million in 2023. The market in Asia Pacific is expected to reach ~US$ 2,889.09 million by 2031. The canned tuna market in North America is expected to record a CAGR of ~3% during 2023–2031. The demand for canned tuna is significant in North America due to several growth drivers related to market dynamics and consumer preferences. The convenience factor significantly drives the demand for canned tuna in the region. With busy lifestyles and increasing time constraints, consumers in the region seek convenient and easy-to-prepare meal options that require minimal effort. Canned tuna fits this need perfectly, offering a quick and versatile protein source for various recipes such as sandwiches, salads, and pastas. A four-ounce serving of white tuna contains 26.77 grams of protein, 145 calories, and 3.37 grams of fat. It does not contain fiber, carbohydrates, and sugar. Also, its long shelf life and portability make it an ideal pantry staple for households looking for convenient meal solutions, contributing to the canned tuna market forecast growth in North America. Rising awareness of the health benefits of consuming seafood, particularly tuna, drives the demand for canned tuna in North America. After shrimp, canned tuna is the second most popular seafood product in the US. Tuna is rich in vitamins, minerals, high-quality protein, and omega-3 fatty acids, making it a nutritious option for health-conscious consumers. With an increasing focus on adopting healthier dietary habits and lifestyles, consumers in North America are actively seeking food options that offer nutritional value and support their overall well-being. Canned tuna provides a convenient and affordable way for consumers to incorporate seafood into their diets and reap its health benefits, driving the demand for canned tuna products in the region. Furthermore, the versatility of canned tuna makes it appealing to a wide range of consumers with diverse taste preferences and dietary needs. Canned tuna can be used in various cuisines and dishes, making it a versatile ingredient that can adapt to different culinary styles and preferences. Whether used in classic tuna sandwiches, salads, casseroles, or sushi rolls, canned tuna offers consumers endless possibilities for creating delicious and satisfying meals. Its adaptability and versatility make canned tuna a staple in many North American households, driving consistent demand for canned tuna products across the region.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
StarKist Co; Bumble Bee Foods, LLC.; Chicken of the Sea; Wild Planet Foods; Genova; Conservas Ortiz S.A.; Century Pacific Food Inc; American Tuna Inc; Sustainable Seas and Pastene Co. are among the prominent players profiled in the canned tuna market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The canned tuna market report also includes company positioning and concentration to evaluate the performance of competitors/players in the market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Category, Distribution Channel, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The major players operating in the global canned tuna market are StarKist Co; Bumble Bee Foods, LLC.; Chicken of the Sea; Wild Planet Foods; Genova; Conservas Ortiz S.A.; Century Pacific Food Inc; American Tuna Inc; Sustainable Seas and Pastene Co. among others.
In 2022, Europe dominated the global canned tuna market share. The increasing focus on health and wellness drives the demand for canned tuna in Europe. As consumers become health-conscious and seek nutritious food options, canned tuna is an attractive choice as it contains a high protein content, omega-3 fatty acids, and various vitamins and minerals. With rising prevalence of obesity and health issues, European consumers are gravitating toward healthier and more sustainable food options, including seafood such as canned tuna, which offers a convenient and affordable way to incorporate essential nutrients into their diets. According to European Commission, in 2019, around 16.5% of adults were obese, and 36.2% were pre-obese in the EU.
Canned tuna has excellent shelf stability, allowing it to be stored for long periods without refrigeration. This attribute is highly advantageous for consumers who value convenience and flexibility in their food choices. Whether stocking up on pantry essentials for emergencies or packing lunches for work or travel, canned tuna assures consumers of having a versatile and reliable protein source readily available whenever needed. Its long shelf life minimizes food waste and ensures that consumers always have access to nutritious meals.
Since more people are leading busy and mobile lifestyles, there is a growing preference for portable and convenient food options that can be prepared in minimal time. Furthermore, the versatility of canned tuna lends itself well to various meal occasions, further enhancing its appeal to consumers. Canned tuna can be incorporated into various recipes for different tastes and dietary preferences. It can be used in classic tuna sandwiches, salads, pastas, wraps, and casseroles. This versatility allows consumers to experiment with new flavors and meal ideas while still enjoying canned tuna's convenience and nutritional benefits. Overall, convenience and shelf stability make canned tuna popular among consumers seeking convenient and nutritious meal solutions.
Based on type, the market is segmented into albacore, yellowfin, skipjack, and others. The albacore segment holds the largest market share. Albacore tuna/longfin tuna is found in tropical waters across the world. The canned albacore tuna is mostly labeled as “white meat tuna” due to its mild flavor and white flesh. Consumers, especially in France, the US, and Spain prefer albacore canned tuna due to its low-fat and high protein content with a mild flavor. Albacore meat is a versatile ingredient used in various dishes such as pastas and salads; it is also used as a substitute for chicken. Albacore tuna species is rich in omega-3 acids, proteins, minerals, and essential vitamins. This species is low in fat and mercury. Thus, the preference for canned albacore tuna is high among price-sensitive and health-conscious consumers. These factors drive the canned tuna market growth for the albacore segment.
By category, the canned tuna market is segmented into tuna in water, tuna in oil, and others. Canned tuna in oil held a significant canned tuna market share. Canned tuna in oil is typically packed in extra-virgin olive oil, vegetable oil, and olive oil. The fish may take a slight flavor from the oil in canned tuna. Tuna in oil is better for those with an increased need for essential fatty acids (EFAs), including linoleic acid. This includes those suffering from conditions such as cystic fibrosis. The nutrition content of tuna in oil varies depending on the variety, and they are higher in calories, fats, and sodium. Consumers focusing on moisture, flavor, and vitamin D levels prefer tuna in oil. Manufacturers are innovating canned tuna in oil with different added ingredients such as carrot, sweetcorn, alpine, and cumin.
Consumers seek variety, convenience, and enhanced taste experiences. Flavored canned tuna offers consumers unique and exciting flavor profiles beyond traditional canned tuna. Flavored canned tuna varieties may include options such as lemon pepper, sweet chili, sriracha, garlic herb, and smoked flavors, providing consumers with a flavorful twist on the classic canned tuna experience.
Several brands have embraced the trend of flavored canned tuna by launching innovative offerings that cater to consumer demand for convenience, as well as diverse taste preferences and culinary trends. Bumble Bee Tuna introduced its Prime Fillet line that includes flavored canned tuna varieties such as lemon and pepper, sun-dried tomato and basil, and jalapeno, providing consumers with gourmet-inspired options for their canned tuna meals. Additionally, Starkist offers Tuna Creations pouches in various flavors such as hickory smoked, sweet and spicy, and ranch, allowing consumers to enjoy flavored tuna on the go. These brands' flavored tuna products exemplify the industry's response to changing consumer preferences and the growing demand for innovative and convenient canned tuna options. Therefore, the rising demand for flavored tuna products is expected to become a significant trend in the canned tuna market in the coming years.
The List of Companies - Canned Tuna Market
- StarKist Co
- Bumble Bee Foods, LLC.
- Chicken of the Sea
- Wild Planet Foods
- Genova
- Conservas Ortiz S.A.
- Century Pacific Food Inc
- American Tuna Inc
- Sustainable Seas
- Pastene Co.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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