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

Tuna Fish Market size was valued at USD 40.12 billion in 2019 and is poised to grow from USD 41.23 billion in 2023 to USD 52.73 billion by 2031, growing at a CAGR of 2.77% in the forecast period (2024-2031).

One of the major factors currently driving the global tuna industry is the increase in demand for canned tuna. The demand for ready-to-eat food is rising quickly as a result of people's hectic schedules, with canned tuna being a common option.

Japan is the world's largest consumer of tuna. Japan consumes a quarter of the world’s tuna catch, mostly for sashimi use. The majority of frozen items are now sold to other agencies outside of the auction system, whereas fresh tuna is often marketed whole through auction.

In developed countries, traditional markets for canned tuna products have declined during the past ten years. Fortunately for producers, more canned tuna is being traded into the Near East and Latin America, where new markets have opened up and trade volumes have expanded. This has contributed to the continued growth of the global canned tuna trade's volume and value. The canned tuna industry is facing numerous significant problems as a result of increased public concerns about the sustainability and safety of tuna in recent years.

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