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

Strong Market Growth in Recent Years

• Market Size Increase: The frozen tuna market has seen robust growth, expanding from $7.47 billion in 2023 to a projected $8.22 billion in 2024, at a compound annual growth rate (CAGR) of 10.0%.
• Drivers of Growth: Key factors include rising demand for seafood, growing preference for plant-based protein sources, and increased awareness of the health benefits of seafood.

Future Market Projections

• Continued Expansion: The market is expected to reach $12.22 billion by 2028, growing at a CAGR of 10.4%.
• Growth Factors: This growth will be driven by increasing demand for protein-rich foods, value-added seafood, sustainably sourced products, and the rise of modern retail and online food delivery services.

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The Growing Demand for Seafood

• Seafood’s Popularity: Rising global awareness of the health benefits of seafood, alongside improved supply chain logistics, is fueling demand.
• Frozen Tuna’s Role: Frozen tuna is key in meeting this demand, offering a versatile and high-quality product for global consumers.

Technological Innovations and Advancements

• Ultra-Low Temperature Freezing: Companies are increasingly adopting ultra-low temperature (ULT) freezing technology, which preserves tuna’s quality and extends its shelf-life.
• Example: In April 2023, Big Fish Maldives launched ULT frozen tuna products, maintaining freshness at temperatures as low as -60°C, which is particularly favored for high-end sushi.

Market Expansion Through Strategic Acquisitions

• Nomad Foods’ Expansion: In September 2021, Nomad Foods acquired Fortenova Frozen’s food business, expanding its market presence in Eastern Europe.
• New Market Entry: This acquisition added leading frozen food brands like Ledo and Frikom to Nomad Foods’ portfolio.

Market Segmentation

• Product Types: The market includes various types of frozen tuna, such as Albacore, Big Eye Ahi, Bluefin, Skipjack, and Yellowfin.
• Distribution Channels: Frozen tuna is sold both online and offline, with applications in supermarkets, hypermarkets, convenience stores, specialty stores, and online retail.
• Regional Insights: Asia-Pacific was the largest region in the frozen tuna market in 2023, reflecting the region’s strong seafood consumption culture.

Conclusion: A Market Poised for Further Growth

The frozen tuna market is on a trajectory of rapid growth, driven by increasing global demand for seafood, advancements in freezing technology, and strategic industry expansions. With continued innovation and growing consumer interest, the market is expected to flourish in the coming years.

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The Frozen Tuna Global Market Report 2024  provides an overview of the frozen tuna market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The frozen tuna market forecast analyzes frozen tuna market size, frozen tuna market share, leading competitor and their market positions.

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