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Canned Tuna Market is Estimated To Witness High Growth Owing To Increasing Demand for Healthy and Convenient Food Options

 

Canned Tuna Market

The global Canned Tuna Market is estimated to be valued at US$ 18.7 Bn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Canned tuna refers to processed tuna fish that is sealed in an airtight container such as a tin can or jar. It is widely consumed around the world due to its convenience and long shelf life. Canned tuna is a rich source of low-fat protein and essential nutrients such as omega-3 fatty acids, vitamin D, and selenium. It is often used as an ingredient in salads, sandwiches, and pasta dishes. The increasing demand for healthy and convenient food options is driving the growth of the canned tuna market.

Market Key Trends:

The key trend driving the canned tuna market is the rising popularity of sustainable and eco-friendly seafood products. Consumers are becoming more aware of the environmental impact of their food choices and are seeking seafood products that are sourced sustainably. Many canned tuna brands are now emphasizing their commitment to sustainable fishing practices and using eco-friendly packaging materials. This trend is expected to drive the growth of the canned tuna market as consumers increasingly prioritize sustainable and ethical food options.

Overall, the canned tuna market is expected to witness high growth in the coming years due to increasing consumer demand for healthy and convenient food options. The rise in popularity of sustainable seafood products is also expected to drive market growth.

PEST Analysis:

·         Political: The political factors affecting the canned tuna market include government regulations, trade policies, and political stability in key tuna-producing countries. For example, changes in fishing regulations and licensing requirements can impact the availability of tuna for canning.

·         Economic: The economic factors impacting the market include GDP growth, disposable income, and exchange rates. As disposable income increases, consumers are more likely to purchase canned tuna as an affordable source of protein. Exchange rates can also affect the cost of importing and exporting canned tuna.

·         Social: Social factors such as changing consumer preferences, dietary habits, and health consciousness influence the demand for canned tuna. For instance, the growing awareness about the health benefits of omega-3 fatty acids found in tuna has led to an increased consumption of canned tuna.

·         Technological: Technological advancements in processing and packaging techniques have improved the quality and shelf life of canned tuna. For instance, the development of modified atmosphere packaging has extended the freshness and taste of canned tuna, making it more appealing to consumers.

Key Takeaways:

The Global Canned Tuna Market Size is expected to witness high growth, exhibiting a CAGR of 4.5% over the forecast period (2023-2030), due to increasing consumer demand for convenient and nutritious food options. The market is driven by multiple factors, including the rising popularity of seafood-based diets, the affordability of canned tuna compared to fresh fish, and the convenience and long shelf life offered by canned products.

In terms of regional analysis, Asia Pacific is projected to be the fastest-growing and dominating region in the canned tuna market. This can be attributed to the significant consumption of canned tuna in countries like Japan, Thailand, and Indonesia, where it is a staple food. The growth of organized retail and e-commerce channels in the region has also contributed to the increased availability and accessibility of canned tuna products.

The key players operating in the canned tuna market are Frinsa, Thai Union Group PCL, Century Pacific Food Inc., Bumble Bee Foods, LLC, Jealsa, Grupo Calvo, PT. Aneka Tuna Indonesia, American Tuna, The Jim Pattison Group, Bolton Group, and Dongwon Group. These players have a strong brand presence, extensive distribution networks, and a diverse product portfolio, enabling them to cater to the growing demand for canned tuna globally.

 

 

 

 

Read More - https://www.newsanalyticspro.com/canned-tuna-market-growth-forecasts-analysis-size-share-and-trends/


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