Canned Tuna Market Worth $26.6 Billion By 2030 | CAGR 4.5%

Canned Tuna Market Growth & Trends

The global canned tuna market size is expected to reach USD 26.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2023 to 2030. The growing adoption of seafood among consumers is expected to be the key factor for market growth. Moreover, exceptional nutritional properties coupled with excellent taste & texture associated with tuna species is expected to expand the market over the next few years.

Consumers around the world are increasingly adding canned tuna in their daily meals as it has rich nutritional properties with great taste and excellent seafood experience. It is widely used in various daily dishes as well as in delicacies including salads, croquette, sandwiches, burgers, pastas, tacos, sushi, and many more. These dishes are easily cooked in least time at home and thus, they are highly appreciated by the consumers who believes in home cooking and healthy lifestyle.

Canned tuna is generally an affordable source of protein, which makes it attractive to budget-conscious consumers. As the cost of meat and other protein sources continues to rise, canned tuna becomes an even more appealing option for consumers who want to maintain a healthy diet without breaking the bank.Additionally, the affordability of canned tuna makes it a popular choice for food banks and other charitable organizations that provide food assistance to those in need. Canned tuna is often included in food assistance packages because it is an affordable and nutritious option that can help stretch a limited food budget.

Europe dominated the 2022 markets owing to growing preference for the nutritious, ready-to-eat, and convenient seafood choices. However, U.S. is also one of the largest consumers in the world with a consumption of 1.3-kilogram per capita as per the statistics provided by the FAO, Globefish. Asia Pacific is witnessing a decent growth in the market with some of the largest canned tuna consuming countries including Japan, Australia, South Korea, China, and Indonesia.

Some consumers are also willing to pay a premium for canned tuna products that are certified sustainable by organizations such as the Marine Stewardship Council (MSC). These certifications provide consumers with assurance that the tuna they are purchasing has been caught using sustainable methods. Market players such as American Tuna, Fishing Vessel St. Jude, Ocean Naturals, and Safe Catch offer Best Choice have responded to this trend by offering, Good Alternative, or certified canned tuna.

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Canned Tuna Market Report Highlights

• The skipjack segment accounted the largest volume share, in 2022 owing to its large availability, rich nutritious content, and its preference for being exported to different regions. Also, this type has a mild, less fishy taste compared to other tuna varieties, making it a more appealing choice for consumers who are sensitive to strong fish flavors.

• The hypermarket and supermarket was the largest distribution channel segment, in 2022. Such channels offer a wide variety of canned tuna products from various brands, making it a one-stop-shop for consumers to find their preferred product. Its cost-effectiveness, and convenience are other factors boosting popularity of this segment.

• Europe dominated the market for canned tuna in 2022. It is a staple in many European culinary traditions, particularly in Mediterranean countries such as Spain, Italy, and Portugal, where it is often used in salads, sandwiches, and pasta dishes. Moreover, health benefits, convenience, affordability, availability, and sustainability has made canned tuna a popular and widely consumed product in Europe.

Canned Tuna Market Segmentation

Grand View Research has segmented the global canned tuna market on the basis of product, distribution channel, and region.

Canned Tuna Product Outlook (Volume, Kilotons, Revenue, USD Million, 2017 - 2030)

• Skipjack

• Yellowfin

• Others

Canned Tuna Distribution Channel Outlook (Volume, Kilotons, Revenue, USD Million, 2017 - 2030)

• Hypermarket & Supermarket

• Specialty Stores

• Online

Canned Tuna Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players of Canned Tuna Market

• Frinsa del Noroeste S.A.

• Thai Union Group PCL

• Bumble Bee Foods LLC

• Century Pacific Food Inc.

• Jealsa

• Grupo Calvo

• Wild Planet Foods Inc.

• PT. Aneka Tuna Indonesia

• American Tuna Inc.

• Ocean Brands