The Tuna Fish Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Tuna Fish Global Market Report 2024, The tuna fish market size has grown steadily in recent years. It will grow from $34.23 billion in 2023 to $35.38 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to increased consumer awareness of health benefits, risen demand for seafood products, global population growth and urbanization, expanding middle-class population, globalization of supply chains.
The tuna fish market size is expected to see steady growth in the next few years. It will grow to $40.04 billion in 2028 at a compound annual growth rate (CAGR) of 3.1%. The growth in the forecast period can be attributed to continued emphasis on healthy eating, innovations in packaging and convenience, sustainable fishing practices and certification, rising demand for ready-to-eat foods, expansion of seafood retail channels. Major trends in the forecast period include regulatory changes, climate change effects, health and nutrition trends, global supply chain disruptions, retail and e-commerce growth, cultural and regional preferences.
Increasing tuna consumption is significantly contributing to the growth of the tuna fish market going forward. Tuna fish refers to any of seven species of oceanic fishes, some of which are very large, that make up the genus Thunnus and have a high commercial value as food. Tuna is consumed for its nutritional value, convenience, and versatility in cooking. It is a good source of omega-3 fatty acids, protein, and other important nutrients. For instance, according to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), an Australia-based government department that conducts research on agriculture, the production of tuna fish increased from $165 million in 2021 to $169 million in 2022. Therefore, increasing tuna consumption will drive the tuna fish market.
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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: Supermarkets And Hypermarkets, Convenience Stores, Online Retails, Other Channels
Top Major Players:
Bolton Group
ITOCHU Corporation
Thai Union Group Inc.
Dongwon Enterprises Co. Ltd.
FCF Co. Ltd.
Europe was the largest region in the tuna fish market in 2023.
Product innovation is the key trend gaining popularity in the tuna fish market. Major companies operating in the tuna fish market are focusing on developing new tuna fish products for catering to changing consumer needs and health consciousness. For instance, in June 2022, Maldives Industrial Fisheries Company Limited (MIFCO), a Maldives-based dishing industry company launched a new canned tuna product called Drained Tuna Chunks. The decreased oil content of the new product makes it stand out from the company’s previous canned tuna offerings. The new tuna cans don’t require the oil to be drained, which will lessen many of the hassles people encounter when using canned tuna.
The tuna fish market report table of contents includes:
1. Executive Summary
2. Tuna Fish Market Characteristics
3. Tuna Fish Market Trends And Strategies
4. Tuna Fish Market – Macro Economic Scenario
5. Global Tuna Fish Market Size and Growth
….
31. Global Tuna Fish Market Competitive Benchmarking
32. Global Tuna Fish Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Tuna Fish Market
34.Tuna Fish Market Future Outlook and Potential Analysis
35. Appendix
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