Westford, USA, Aug. 07, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the canned tuna market has witnessed intensified competition due to the popularity of plant-based diets and alternative protein sources among consumers. As more individuals embrace vegetarian, vegan, and flexitarian lifestyles, there is a shift in dietary preferences away from traditional animal-based products such as canned tuna. This growing trend has prompted companies to explore innovative ways of meeting changing consumer demands and preferences.
Browse in-depth TOC on the "Canned Tuna Market"
- Pages - 157
- Tables - 62
- Figures – 75
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The canned tuna market experiences substantial growth due to several driving factors influencing customer behaviour and consumption patterns. There is a high demand for canned tuna products, stemming from its widespread popularity as a convenient and accessible source of protein. With consumers increasingly seeking nutritious and convenient meal options, canned tuna is ideal for meeting their dietary needs.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 10.61 Billion |
| 2030 Value Projection | USD 15.1 Billion |
| CAGR | 4.15% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Canned Tuna Market
- Thai Union Group
- Dongwon Industries
- Bumble Bee Foods
- StarKist
- Princes Group
- Wild Planet Foods
- Ocean Brands
- Grupo Calvo
- Crown Prince Inc.
- American Tuna Inc.
- Century Pacific Food Inc.
- Natural Sea
- HAGOROMO FOODS CORPORATION
- Azzopardi Fisheries Ltd
- John West Foods Ltd
- Tonnino Tuna
- Henry & Lisa's Natural Seafood
- Fish4Ever
- Clover Leaf Seafoods
- Bohn's Best Canned Seafood
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Yellowfin Tuna Segment is Expected to Grow in the Market Due to its Exceptional Texture
Yellowfin tuna segment is anticipated to witness a remarkable CAGR of 5.0 per cent between 2023 and 2030, making it one of the fastest-growing segments in the canned tuna market. This surge in popularity can be attributed to its exceptional texture and delectable flavour, which has captivated consumers' taste buds worldwide.
The markets in North America stand as a well-developed and robust economy, boasting a vast consumer base that plays a pivotal role in driving canned tuna market growth across various industries. The region is witnessing a substantial increase in working professionals, reflecting a dynamic and evolving workforce.
Skipjack Canned Tuna Segment is Expected to Dominate the Market Due to the Robust and Nutrient-Rich Seafood Experience
Skipjack canned tuna segment emerged as the dominant player in the canned tuna market, accounting for over 55.0 per cent of all tuna sales. This popularity can be attributed to the species' exceptional attributes, offering consumers a robust and nutrient-rich seafood experience. Moreover, skipjack tuna's widespread availability in the market has made it a go-to choice for seafood enthusiasts worldwide.
Regional markets in Europe are projected to capture the second-largest market share in the canned tuna market, primarily driven by the increasing demand from the millennial population. As millennials embrace fast-paced lifestyles, there is a rising preference for convenient and time-saving food options.
A comprehensive analysis of the major players in the canned tuna market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Canned Tuna Market
- Century Pacific Food, Inc., a renowned food and beverage company headquartered in the Philippines, recently announced its acquisition of "Ligo," a notable company celebrated for its premium sardines and a wide range of other marine products. This strategic move marked a significant milestone in Century Pacific Food's expansion efforts, solidifying its position in the seafood market. Adding Ligo's high-quality offerings to its portfolio, Century Pacific Food has further strengthened its commitment to providing consumers with exceptional and diverse marine products.
- In 2022, they introduced a remarkable advancement in their Italian canned tuna fish packaging. Utilizing genuine peel technology, the new package offered a stylish and innovative way to prepare their product, resulting in "Apri gira facile" tuna. This revolutionary design eliminated the inner rim, allowing consumers to place the tuna directly onto their dish without a fork, effectively reducing food waste.
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Key Questions Answered in Canned Tuna Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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