Request Sample Inquiry
Tuna Fish Market

Tuna Fish Market

Tuna Fish Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

145

Base Year:

2021

Date

May - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1547

Segments Covered
  • By Species Skipjack, Albacore, Yellowfin, Bigeye, Bluefin, Others
  • By Type Canned, Fresh, Frozen
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 39.8 Billion
Revenue 2028Revenue 2028: USD 46.4 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 2.6%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Europe
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Tuna Fish Market Share

Market Synopsis:

The Global Tuna Fish Market is valued at USD 39.8 Billion in the year 2021 and is projected to reach a value of USD 46.4 Billion by the year 2028. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 2.6% over the forecast period.

Tuna Fish Market Size, 2021 To 2028 (USD Billion)

Tuna is an important part of the marine ecosystem and one of the most economically valuable species. Skipjack, yellowfin, bigeye, Pacific, Atlantic, and Southern Bluefin tuna are all important species in the commercial tuna fishery. Companies have increased their investment in Research and Development (R&D) efforts in response to the growing demand for a healthy diet and sustainable fishing operations. Consumer demand has prompted the implementation of sophisticated tuna processing processes in response to changing dietary preferences. In recent years, the global consumption of canned Tuna Fish has exploded. Tuna in a can is a popular low-cost protein that is easy to store and does not require refrigeration. It is a convenient product to export because it requires little to no refrigeration, which is a benefit that promotes demand for canned tuna products in both developed and developing countries. The substantial increase in the working population boosted demand for processed, ready-to-cook, ready-to-eat goods.

Due to factors such as environmental concerns and dairy allergies, a large section of the world's population has become vegetarian, significantly impacting meat and seafood sales in many places. Because of the growing popularity of plant-based foods among customers, the number of plant-based meat producers has increased. Even though demand for seafood continues to rise, sustainably produced plant-based seafood can help to maintain biodiversity and reduce overfishing, which is why a major corporation like Nestle S.A. is introducing plant-based tuna to the market. Market participants such as Beyond Meat and MorningStar Farms are investing in vegetarian alternatives to typical meat products as well as developing a diverse vegan meat product line. As a result, customers' shift to plant-based tuna is likely to stifle Tuna Fish industry growth in the future years.

Market Segmentation:

The Tuna Fish Market is segmented on the basis of Species, and Type. On the basis of Species, the market is segmented into Skipjack, Albacore, Yellowfin, Bigeye, Bluefin, and Others. On the basis of Type, the market is segmented into Canned and Fresh Frozen.

Below tree is interactive. You can click the nodes to get more information.

Based on Species

The most popular canned tuna species is skipjack tuna. According to Asia Pacific - Fish Watch, skipjack tuna account for more than 70% of total tuna captures in the Western and Central Pacific, and about half in the Indian Ocean. Skipjack also has a modest cholesterol content and is high in low-fat protein and salt, both of which aid plant growth. Yellowfin tuna is becoming increasingly popular among customers due to its rich flavor and excellent texture. The species is predominantly sold canned and frozen as plate-sized small pelagic fish in the Philippines and Indonesia.

Based on Type

Canned tuna is the most popular product category, owing to growing awareness of its health benefits and ease of preparation. It is likely to maintain its dominance during the forecast period. Omega-3 fatty acids included in canned tuna help to lower blood pressure, cholesterol, dementia, and inflammatory diseases. Furthermore, the huge variety of products accessible on the market, ranging from basic and unseasoned products to prepared, grilled, and marinated products, aids the segment's growth. Fresh tuna is expected to grow greatly due to the rise of Asian restaurants around the world, which has stimulated interest in it and its consumption in a number of ways.

Europe Holds the Largest Share in the Global Tuna Fish Market

Europe dominated the Global Tuna Fish sector in 2021, with a market value of USD 12.9 billion. The region's rapid expansion is fueled by high per capita consumption of fish and seafood, as well as the presence of well-organized seafood industry. Customers in the region have been leaning toward nutritious and functional meals since COVID-19, which provide health benefits for busy and active consumers. Companies are focusing their efforts on addressing the growing demand for useful things from customers. In September 2021, for example, John West, a Thai Union Group brand, launched a nutrient-dense canned tuna variety in UK stores. Energy, Heart, and Immunity are the three functional flavors in the product range, which are aimed at young consumers looking for tasty and practical dietary options.

Competitive Landscape:

Key players operating in the Global Tuna Fish Market include- Bolton Group (Milan - Italy), Century Pacific Foods Inc. (Pasig - Philippines), The Jealsa Rianxeira S. AU. Group (Boiro - Spain), Grupo Albacore S.A. (Basque - Spain), ITOCHU Corporation (Tokyo - Japan), Thai Union Group Inc. (Samut Sakhon - Thailand), Dongwon Enterprises Co. Ltd. (Seoul - South Korea), IBL Ltd. (Port Louis - Mauritius), FCF Co. Ltd. (Kaohsiung - Taiwan), Sea Delight (Florida, U.S.) and others.

Segmentation of the Global Tuna Fish Market:

Parameter Details
Segments Covered
  • Species (Skipjack, Albacore, Yellowfin, Bigeye, Bluefin, Others)
  • Type (Canned, Fresh, Frozen)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Bolton Group (Milan - Italy)
  • Century Pacific Foods Inc. (Pasig - Philippines)
  • The Jealsa Rianxeira S. AU. Group (Boiro - Spain)
  • Grupo Albacore S.A. (Basque - Spain)
  • ITOCHU Corporation (Tokyo - Japan)
  • Thai Union Group Inc. (Samut Sakhon - Thailand)
  • Dongwon Enterprises Co. Ltd. (Seoul - South Korea)
  • IBL Ltd. (Port Louis - Mauritius)
  • FCF Co. Ltd. (Kaohsiung - Taiwan)
  • Sea Delight (Florida
  • U.S.)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Tuna Fish Market to Reach Valuation of USD 46.4 Billion by 2028 - The Positive Health Benefits Gained from Tuna Fish and Environmental Sustainability are the Key Factors to Generate Revenue from the Tuna Fish Market
In terms of revenue, the Global Tuna Fish Market is expected to reach USD 46.4 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 2.6% from 2022 to 2028. The growing demand from consumers for healthy food and increasing health concerns obtained from a healthy diet is driving the T...
FAQ
Frequently Asked Question
  • The global Tuna Fish valued at USD 39.8 Billion in 2020 and is expected to reach USD 46.4 Billion in 2028 growing at a CAGR of 2.6%.

  • The prominent players in the market are Bolton Group (Milan - Italy), Century Pacific Foods Inc. (Pasig - Philippines), The Jealsa Rianxeira S. AU. Group (Boiro - Spain), Grupo Albacore S.A. (Basque - Spain), ITOCHU Corporation (Tokyo - Japan), Thai Union Group Inc. (Samut Sakhon - Thailand), Dongwon Enterprises Co. Ltd. (Seoul - South Korea), IBL Ltd. (Port Louis - Mauritius), FCF Co. Ltd. (Kaohsiung - Taiwan), Sea Delight (Florida, U.S.).

  • The market is project to grow at a CAGR of 2.6% between 2021 and 2028.

  • The driving factors of the Tuna Fish include

    • Increasing Demand for Canned Tuna Due to Higher Shelf-life and Affordability of the Product

  • Europe was the leading regional segment of the Tuna Fish in 2020.