Published Date : 16 Jan 2024
The global canned tuna market size exceeded USD 31.06 billion in 2022 and is expected to rise to USD 40.47 billion by 2030, poised to grow at a CAGR of 3.40% from 2022 to 2030.
The canned tuna market can be defined as the global sector of the economy devoted to the production, sale, and use of canned tuna products. Canned tuna, valued for its extended shelf life and nutritional benefits, is a staple in emergency food supplies, fostering demand among governments, humanitarian organizations, and individuals. Its popularity is attributed to taste, convenience, widespread availability, extended shelf life, brand recognition, and effective marketing. As a reliable, non-perishable option during emergencies, the market for canned tuna ingredients is poised for growth in response to the ongoing demand for convenient and durable food sources.
There are various types of canned tuna; some are more environmentally friendly than others. Canned tuna typically includes at least four species, with white and light tuna being the most common. White tuna, composed of albacore, has a higher mercury content. Albacore tuna, being a larger species, consumes more mercury-containing seafood. Despite its canned form, it is often minimally processed, typically composed of tuna, water or oil, and salt.
The canned tuna market is poised for growth due to the rising demand for seafood as a protein source, particularly as a meat substitute. As a popular seafood choice, tuna offers nutritional benefits such as protein, vitamins, minerals, omega-3, and essential fatty acids. Canned tuna is convenient to cook or consume directly, aligning with the trend of consuming ready-to-eat/cooked foods in response to busy lifestyles. The market benefits from the increasing popularity of tuna sandwiches and salads as healthy meal options in Western nations. The sustainable availability of tuna in the ocean, coupled with a growing number of processing units globally, is expected to drive down retail prices, making canned tuna more affordable and expanding its consumer market.
The tuna industry has significantly changed in recent years due to increased production, competitive pricing, advancing technology, and evolving customer preferences. The demand for ready-to-eat foods, including canned tuna, has risen notably, driven by people's busy lifestyles. The European Union has become the global leader in canned tuna imports, while Middle Eastern countries like Saudi Arabia, Israel, and Egypt are among the largest importers. The enduring popularity and demand for canned tuna also stem from its extended shelf life. As countries experience rapid expansion, citizens increasingly turn to convenient, long-lasting, and globally popular food options.
North America leads the canned tuna market, driven by a growing demand for convenient food options, particularly among the busy millennial and Gen-Z populations. The trend toward ready-to-eat/cooked foods aligns with a rising disposable income and a preference for healthy lifestyles. The region also sees a significant presence of migrants from Japan, China, Korea, and Thailand, contributing to the popularity of traditional seafood. Hybrid recipes like tuna salads and sandwiches have emerged as the region's preferred healthy meal options.
Americans, facing hectic lifestyles and time constraints for meal preparation, seek quick and ready-to-eat options. Canned tuna, requiring minimal preparation and boasting a long shelf life, emerges as a convenient solution. Its versatility allows easy incorporation into various dishes like sandwiches and recognized pasta, making it a popular choice for on-the-go meals. The increasing consumption of seafood in the United States, driven by factors like variety, taste, and nutritional value, particularly highlights the popularity of canned tuna. This accessible and affordable option enables consumers to seamlessly include seafood in their diets.
|Market Revenue in 2023
|USD 32.23 Billion
|Projected Forecast Revenue by 2030
|USD 40.47 Billion
|Growth Rate from 2022 to 2030
|CAGR of 3.40%
|2022 to 2030
|North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Rapid adoption and new launches
Canned seafood, particularly canned tuna, is becoming increasingly integral to people's daily diets due to its distinctive texture and flavor. Canned tuna is a favored protein source, low in fat and calories, and an excellent supplier of omega-3 essential fatty acids, known for reducing blood pressure and cholesterol levels. Introducing new products in the canned tuna market is anticipated to contribute to the overall market's growth.
Increasing awareness about health benefits
The growing awareness of tuna's health benefits has led to increased consumption, with seafood recognized for its essential nutrients that enhance various aspects of health. Governments and health agencies recommend regular seafood intake for overall well-being. Tuna, often regarded as the "chicken of the sea" due to its tender meat and health advantages, is commonly used as a chicken substitute in diverse recipes. The market is witnessing a surge in demand, and recent partnerships and certifications highlight a commitment to sustainability and quality within the industry.
Issues related to high concentrations of mercury
The growth of the canned tuna market faces challenges due to the high mercury concentration in tuna. Mercury, a toxic heavy metal, poses health risks such as fatigue and impacts the central nervous system when accumulated in the body. Water contamination from human activities has elevated mercury levels in water bodies. Additionally, since tuna consume smaller fish with potentially high mercury levels, canned tuna may also contain increased mercury. Ongoing research and publications highlighting the adverse effects of mercury in canned tuna are expected to restrict market growth.
Lifestyle changes resulting in demand for packaged food
The rising demand for packaged foods, driven by busy lifestyles, is a positive trend for the canned tuna market. Packaged foods offer convenience, quickness, affordability, and accessibility. Despite hectic schedules, consumers prioritize product quality and opt for healthier options. Canned tuna is known for its rich protein content, essential fatty acids, vitamins, and minerals, support for bone health, enhanced immunity, and boosted metabolism. Increased awareness of these benefits contributes to the market's growth. The internet usage and e-commerce surge has further propelled canned tuna demand, with tech-savvy millennials driving online purchases. Major market players introducing canned tuna on online platforms are expected to boost market development further.
Increased shelf life
Sustainability presents a significant opportunity in the retailing of canned tuna, with many companies emphasizing eco-friendly practices. Major retailers are attracting consumers by offering certified sustainable canned tuna. Notable U.S. brands like Safe Catch, Whole Foods 365, Fishing Vessel St. Jude, American Tuna, Mind Fish Co., Ocean Naturals, and Wild Planet provide certified canned tuna options.
By Product Type
By End use
By Sales Channel
By Tuna Species
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