The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Tuna Fish Global Market Report 2024, the tuna fish market is expected to show significant growth in the forecast period.

Market Overview

• Steady Growth: The tuna fish market has shown consistent growth over recent years.
  • 2023: $34.23 billion
  • 2024: $35.38 billion
  • CAGR: 3.4%

Historical Growth Drivers

• Health Benefits Awareness: Increased consumer awareness of the health benefits of tuna.
• Seafood Demand: Rising global demand for seafood products.
• Population Growth: Global population growth and urbanization.
• Middle-Class Expansion: Growing middle-class population.
• Global Supply Chains: Globalization enhancing the availability and accessibility of tuna.

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Future Market Projections

• Continued Growth: The market is expected to grow steadily.
  • 2028: $40.04 billion
  • CAGR: 3.1%

Future Growth Drivers

• Healthy Eating: Continued emphasis on healthy eating.
• Innovations: Advances in packaging and convenience.
• Sustainable Practices: Adoption of sustainable fishing practices and certifications.
• Ready-to-Eat Foods: Rising demand for ready-to-eat tuna products.
• Retail Expansion: Expansion of seafood retail channels.

Major Trends

• Regulatory Changes: Changes in regulations affecting the industry.
• Climate Change: Effects of climate change on tuna populations and fishing practices.
• Health Trends: Growing focus on health and nutrition.
• Supply Chain Disruptions: Potential disruptions in global supply chains.
• Retail Growth: Growth in retail and e-commerce channels.
• Cultural Preferences: Cultural and regional preferences influencing market dynamics.

Population Growth Impact

• Demand Surge: Increasing population drives higher demand for tuna.
  • Global population projected to reach 8.5 billion by 2030, 9.7 billion by 2050, and 10.4 billion by 2100 (United Nations).
  • U.S. population expected to increase from 335 million (2022) to 369 million by 2052 (Congressional Budget Office).

Key Market Players

• Crown Prince Inc.
• Mitsubishi Corporation
• American Tuna Company
• Tri Marine Group
• StarKist Tuna
• Clover Leaf Seafoods Corp.
• Bumble Bee Foods LLC
• Frinsa del Noroeste S.A.
• A.E.C. Canning Company Limited
• Ocean Brands
• Balfegó Group
• Mareblu SRL
• Fish4Ever
• John West Foods
• Princes Group
• Bajamar
• Rio Mare
• Maretti

Product Development and Health-Conscious Offerings

• Innovation Focus: Companies are developing new products to meet health-conscious consumer needs.
  • Example: In June 2022, Maldives Industrial Fisheries Company Limited launched “Drained Tuna Chunks” with reduced oil content.

Strategic Acquisitions

• Market Expansion: Strategic acquisitions are strengthening market presence.
  • Example: In March 2022, F.C.F. Co. Ltd. acquired Bumble Bee Foods for $928 million, expanding its footprint in North America.

Market Segmentation

• By Type: Canned, Fresh, Frozen
• By Species: Skipjack, Yellowfin, Albacore, Bigeye, Bluefin, Other Species
• By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Other Channels

Regional Insights

• Largest Region (2023): Europe
• Fastest-Growing Region (Forecast): Asia-Pacific

The tuna fish market is poised for steady growth driven by population increases, health trends, and innovations. Major companies are focusing on product development and strategic acquisitions to capture market share, while regulatory changes and climate effects present both challenges and opportunities.

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The Tuna Fish Global Market Report 2024  provides an in-depth analysis on the tuna fish market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the tuna fish market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Fishing, Hunting And Trapping Global Market Report 2024

Seafood Global Market Report 2024

Meat, Poultry And Seafood Global Market Report 2024

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