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How has the tuna fish market grown in recent years?

In the past few years, there has been consistent growth in the size of the tuna fish market. It is projected to expand from $35.38 billion in 2024 to $36.36 billion in 2025, with a compound annual growth rate (CAGR) of 2.8%. Factors contributing to this growth during the historical period include heightened awareness among consumers about the health advantages of tuna, elevated demand for seafood items, global population and urban growth, an increasing middle-class population, and international expansion of supply chains.

How is the tuna fish market size expected to evolve during the forecast period?

The size of the tuna fish market is set to experience a consistent increase in the coming years, with a projection of attaining “$41.8 billion in 2029 based on a compound annual growth rate (CAGR) of 3.5%. This growth within the forecast period is a result of an ongoing focus on nutritious eating, advancements in packaging and accessibility, responsible fishing methods, and certification. Also, an increase in demand for ready-to-eat meals and the expansion of retail channels dealing with seafood contribute to this growth. The forecast period also reveals key trends including modifications in regulations, impacts of climate change, health and nutrition patterns, interruptions in the global supply chain, growth in retail and e-commerce sectors, and cultural as well as regional preferences.

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Which key drivers are propelling the tuna fish market’s growth?

The escalating demand for tuna is a significant factor propelling the advancement of the tuna fish market. Thunnus, the genus that encompasses seven species of ocean-faring fish including some of considerable size, is commercially valuable as a food source, specifically tuna. The nutritional benefits, convenience, and versatility in culinary applications of tuna enhance its consumption. It’s an excellent provider of omega-3 fatty acids, protein, and other crucial nutrients. The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), an organization under the Australian government purview and specializing in agricultural research, noted that tuna fish production soared from $165 million in 2021 to $169 million in 2022. Consequently, the uptick in tuna intake is set to bolster the tuna fish market.

What are the market segments in the tuna fish industry?

The tuna fish market covered in this report is segmented –

1) By Type: Canned, Fresh, Frozen

2) By Species: Skipjack, Yellowfin, Albacore, Bigeye, Bluefin, Other Species

3) By Distribution Channel: Super markets And Hyper markets, Convenience Stores, Online Retails, Other Channels

Subsegments:

1) By Canned: Chunk Light Tuna, Solid White Tuna, Albacore Tuna, Specialty Varieties

2) By Fresh: Yellowfin Tuna, Bluefin Tuna, Albacore Tuna, Other Fresh Varieties

3) By Frozen: Whole Frozen Tuna, Filleted Frozen Tuna, Portion Frozen Tuna

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Which leading companies are shaping the growth of the tuna fish market?

Major companies operating in the tuna fish market include Bolton Group, ITOCHU Corporation, Thai Union Group Inc., Dongwon Enterprises Co. Ltd., FCF Co. Ltd., Crown Prince Inc., Mitsubishi Corporation, American Tuna Company, Alliance Select Foods Inc., Wild Planet Foods Inc., Century Pacific Foods Inc., The Jealsa Rianxeira S. AU. Group, Grupo Albacore S.A., IBL Ltd., Sea Delight, 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

What key trends are currently impacting the tuna fish market’s development?

The primary trend making waves in the tuna fish market is product innovation. Major players in the tuna fish market are honing their focus on creating new tuna fish offerings in an effort to accommodate shifting consumer demands and heightened awareness of health. To illustrate, Maldives Industrial Fisheries Company Limited (MIFCO), a fishing industry company based in Maldives, introduced a novel canned tuna product, Drained Tuna Chunks, in June 2022. The reduced oil content in this new product sets it apart from the firm’s earlier canned tuna products. The new tuna cans no longer require the oil to be drained, thereby mitigating many of the challenges associated with using canned tuna.

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Which geographic areas are influencing the growth of the tuna fish market?

Europe was the largest region in the tuna fish market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global tuna fish market report during the forecast period. The regions covered in the tuna fish market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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