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How has the frozen tuna market grown over the years?

The frozen tuna market has grown rapidly in recent years. It will grow from $8.22 billion in 2024 to $9.1 billion in 2025 at a compound annual growth rate (CAGR) of 10.7%. This growth is linked to the rising demand for seafood, increased interest in plant-based protein sources, greater awareness of health benefits, and the popularity of sushi and sashimi consumption.

What Is the forecasted market size and growth rate for the frozen tuna market?

The frozen tuna market is set to reach $13.47 billion by 2029 at a CAGR of 10.3%. This growth is fueled by the rising demand for protein-rich foods, increased demand for frozen tuna and value-added seafood, a preference for sustainably sourced foods, and growth in modern retail formats and online food delivery services. Trends include technological advancements, cold chain logistics improvements, flash-freezing technology, sustainable packaging, and enhanced thawing techniques.

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What are the major factors driving growth in the frozen tuna market?

The increasing demand for seafood is expected to fuel the growth of the frozen tuna market. As seafood consumption rises due to its health benefits and the expansion of aquaculture, frozen tuna plays an essential role in meeting this demand. In September 2023, Statistics Canada reported an 11.8% increase in farmed shellfish sales, signaling the growth of the seafood market. This rising demand for seafood is driving the growth of the frozen tuna market.

What key areas define the segmentation of the global frozen tuna Market?

The frozen tuna market covered in this report is segmented –

1) By Type: Frozen Albacore, Frozen Big Eye Ahi, Frozen Bluefin Tuna, Frozen Skipjack, Frozen Yellowfin Tuna

2) By Distributed Channel: Online, Offline

3) By Application: Supermarkets And Hypermarkets, Convenience Stores, Specialty Stores, Online Retail

Subsegments:

1) By Frozen Albacore: Wild-Caught Frozen Albacore, Farmed Frozen Albacore

2) By Frozen Big Eye Ahi: Wild-Caught Frozen Big Eye Ahi, Frozen Big Eye Ahi Steaks

3) By Frozen Bluefin Tuna: Wild-Caught Frozen Bluefin Tuna, Frozen Bluefin Tuna Steaks, Frozen Bluefin Tuna Belly

4) By Frozen Skipjack: Wild-Caught Frozen Skipjack, Frozen Skipjack Loins

5) By Frozen Yellowfin Tuna: Wild-Caught Frozen Yellowfin Tuna, Frozen Yellowfin Tuna Steaks, Frozen Yellowfin Tuna Saku

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What are the top market players propelling the growth of the frozen tuna industry?

Major companies operating in the frozen tuna market are ITOCHU Corporation, Sojitz Corporation, Dongwon Group, Nissui Corporation, Mowi ASA, Thai Union Group PCL, Bolton Group, SalMar ASA, IBL Ltd., High Liner Foods Inc., Century Pacific Food Inc., The Jealsa Rianxeira S.A.U., Bumble Bee Foods LLC, Tassal Group, Chicken of the sea, Shanghai Kaichuang Marine International, Zhejiang Ocean Family Co. Ltd., Grupo Calvo, FCF Co. Ltd., Sea Delight LLC, Pescanova SA, Stehr Group, Golden Prize Canning Co. Ltd.

What are the key trends shaping the future of the frozen tuna market?

Companies in the frozen tuna market are innovating with ultra-low temperature (ULT) frozen tuna products to improve freshness, quality, and shelf-life. In April 2023, Big Fish Maldives launched ultra-low temperature frozen tuna products. By freezing the tuna at temperatures as low as -60°C, the fish retains its high quality, allowing it to be sold at premium prices in international markets.

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What regions are dominating the frozen tuna market growth?

Asia-Pacific was the largest region in the frozen tuna market in 2023. The regions covered in the frozen tuna market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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