Tuna Fish Market Size, Share, Growth Analysis, By Species(Skipjack, Yellowfin, Albacore, Bigeye), By Type(Canned, Fresh, Frozen), By Distribution Channel(Offline, and Online), By Region - Industry Forecast 2024-2031

Europe is predicted to hold a substantial share of the tuna fish industry due to its large per capita consumption of fish and seafood. The tuna fish market in Europe, which was valued at USD 14.65 billion in 2021, is forecast to expand significantly. Additionally, a well-run seafood business is anticipated to support industrial growth. Also, the population's increased demand for nutritious foods is anticipated to fuel market growth.

The second-largest market share is expected to be held by the Asia Pacific, which has experienced significant growth. The demand for protein-rich foods like tuna has grown as a result of the expanding populations of nations like China and India as well as the rising per capita income of residents of Asian nations. Due to the rising need for animal protein, the production and processing of seafood and aquaculture in Asia are expanding quickly. Asia has had an 89 percent share of the global aquaculture production of aquatic animals during the past 20 years, according to FAO.

Due to the rising per capita seafood consumption in the region, North America is predicted to experience a considerable increase during the projection period. The National Oceanic and Atmospheric Administration (NOAA) reports that in 2017, Americans consumed 16 pounds of seafood per person, an increase of 1.1 pounds in almost a decade. In 2018, the per-person consumption grew even further, reaching 16.1 pounds