Overview and Scope
Frozen tuna refers to fish caught, processed, and then frozen to preserve its freshness and nutritional value. The freezing process helps to prevent the growth of bacteria and other microorganisms, maintaining the quality and safety of the fish. Frozen tuna is widely used in commercial and consumer markets, especially in regions where fresh tuna may not be readily available.
Sizing and Forecast
The frozen tuna market size has grown strongly in recent years. It will grow from $7.47 billion in 2023 to $8.22 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to growing demand for seafood, rising demand for seafood, consuming plant-based protein sources, increasing awareness about the health benefits, and growth in sushi and sashimi consumption.
The frozen tuna market size is expected to see strong growth in the next few years. It will grow to $12.22 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to increasing protein-rich foods, increasing demand for frozen tuna, increasing demand for value-added seafood, increasing demand for sustainably sourced foods, and growth of modern retail formats and online food delivery services. Major trends in the forecast period include technological innovations, advancements in cold chain logistics, flash-freezing technology, sustainable packaging solutions, and improved thawing techniques.
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Segmentation & Regional Insights
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
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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Major Driver Impacting Market Growth
The growing demand for seafood is expected to propel the growth of the frozen tuna market going forward. Seafood refers to edible aquatic animals and plants, including fish, shellfish, mollusks, and seaweeds, harvested from oceans, rivers, and lakes, which are sources of protein and nutrients for many cultures worldwide. The demand for seafood is due to rising awareness of its health benefits, expansion of aquaculture, changing dietary preferences, improved supply chain logistics, and sustainability concerns regarding land-based protein sources. Frozen tuna plays a crucial role in meeting the growing global demand for seafood by providing a reliable, versatile, and high-quality product that can be enjoyed in various forms and cuisines worldwide. For instance, in September 2023, according to Statistics Canada, a Canada-based government agency, sales of farmed shellfish in Canada increased to $125.0 million in 2022, an 11.8 % increase compared to 2021. Therefore, the growing demand for seafood drives the frozen tuna market.
Key Industry Players
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.
The frozen tuna market report table of contents includes:
1. Executive Summary
2. Frozen Tuna Market Characteristics
3. Frozen Tuna Market Trends And Strategies
4. Frozen Tuna Market – Macro Economic Scenario
5. Global Frozen Tuna Market Size and Growth
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32. Global Frozen Tuna Market Competitive Benchmarking
33. Global Frozen Tuna Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Frozen Tuna Market
35. Frozen Tuna Market Future Outlook and Potential Analysis
36. Appendix
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