Canned Tuna Market Size, Share, Growth Analysis, By Product(Skipjack, Yellowfin), By Distribution Channel(Hypermarket & Supermarket, Specialty Stores, Online), By Region - Industry Forecast 2024-2031

Canned Tuna Market size was valued at USD 10.26 billion in 2019 and is poised to grow from USD 10.61 billion in 2023 to USD 15.1 billion by 2031, growing at a CAGR of 4.15% in the forecast period (2024-2031).

The sector is predicted to be significantly impacted by changing customer tastes for seafood in diverse cuisines due to its abundance in vital proteins, vitamins, and minerals. Additionally, tuna has a flavour that is highly excellent and unique from that of other seafood, which contributes to the product's widespread popularity. Due to its delicious flavour, nutritional value, and lower carbon footprint than other meat and cattle products, seafood consumption has been rising considerably over the past several years all over the world. But one of the top five seafood dishes consumed worldwide is tuna.

The U.S. and European nations consume the most canned tuna, although certain Asian nations, including South Korea, Australia, and Japan, are also leading in consumption. However, because the fish is of such high quality, the majority of the tuna industry, particularly the canned tuna sector, caters to some Asian nations. Thailand, Ecuador, China, Indonesia, and the Philippines were the top exporters of canned and processed tuna, according to data provided by "GLOBEFISH," a product, trading, and marketing division of the FAO Fisheries and Aquaculture Department. However, the top importers of canned and processed tuna were the United States, Japan, Australia, Egypt, Saudi Arabia, and European nations.

The factors driving market expansion and influencing customer behaviour that lead to the canned tuna sales in the international market are high product demand, rising output, and extensive application in the food industry. Since canned tuna is a cheap source of protein and is available in approximately 70 countries worldwide, it is a commonly consumed food. Consuming tuna has health benefits because it contains a lot of vitamin B12, which is needed to make DNA.

US Canned Tuna Market is poised to grow at a sustainable CAGR for the next forecast year.