Tuna Fish Market Size, Trends and Insights By Product Type (Canned Tuna, Frozen Tuna, Fresh Tuna, Tuna Steaks), By End-use (Retail, Food Service, Industrial), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI33208

Published Date: October 2023

Pages: 220+

Category: Food & Beverages

Report Snapshot

CAGR: 3.2%
42.3B
2022
43.7B
2023
53.6B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Thai Union Group
  • Dongwon Industries
  • Bumble Bee Foods
  • StarKist Co.
  • Wild Planet Foods
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the global Tuna Fish Market is expected to record a CAGR of 3.2% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 42.3 Billion. By 2032, the valuation is anticipated to reach USD 53.6 Billion.

Our research report offers a 360-degree view of the Tuna Fish Market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Tuna Fish Market.

  • Product differentiation: Market players differentiate their products based on various factors such as quality, taste, packaging, and sustainability. For example, companies may offer sustainably sourced tuna, which appeals to environmentally conscious consumers.
  • Mergers and acquisitions: Companies may merge or acquire other companies to increase their market share and diversify their product offerings. For example, Thai Union Group, one of the largest tuna companies in the world, has acquired several companies in recent years to expand its global reach and product portfolio.
  • Geographic expansion: Companies may expand their reach by entering new markets or establishing new processing facilities in different regions. For example, Japanese companies dominate the global market for high-quality, high-priced tuna. Many have established processing facilities in Thailand and the Philippines to take advantage of lower labor costs.
  • Innovation: Companies may invest in research and development to create or improve new products. For example, Bumble Bee Foods has introduced a line of flavored tuna products to appeal to consumers who prefer more diverse flavors.
  • Marketing and branding: Companies may invest in marketing and branding to differentiate their products and build brand loyalty. For example, StarKist has launched a marketing campaign to promote its tuna products as a healthy and convenient meal option.

Report Scope

The global Tuna Fish market research report offers an in-depth analysis of the global market size, which is further segmented into regional and country-level market size, and segmentation market growth.

Also, it provides market share, sales analysis, competitive landscape, the impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations.

The scope of the study includes market sizing and forecast for segmentation by product type, end-use, distribution channel, and geography.

Feature of the Report Details
Market Size in 2023 USD 43.7 Billion
Projected Market Size in 2032 USD 53.6 Billion
Market Size in 2022 USD 42.3 Billion
CAGR Growth Rate 3.2% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Product Type, End-use and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Key Market Dynamics

  • Consumer demand: The demand for tuna fish is a major driver of the tuna fish market. Tuna is a popular food item in many parts of the world, and as consumers become more health conscious, they are increasingly turning to tuna for its high nutritional value.
  • Economic growth: Economic growth is another key driver of the tuna fish market. As incomes rise, consumers tend to have more disposable income, which they can use to purchase more expensive food items such as tuna.
  • Fishing regulations: Fishing regulations can significantly impact the tuna fish market. Regulations that restrict fishing practices or limit catch quotas can reduce the supply of tuna, driving up prices.
  • Environmental factors: Environmental factors such as climate change and natural disasters can also impact the tuna fish market. Changes in ocean temperature and currents can affect tuna populations, and natural disasters such as hurricanes can disrupt fishing activities.
  • Trade policies: Trade policies can also impact the tuna fish market. Tariffs or other trade barriers can limit the flow of tuna from one country to another, while trade agreements can facilitate trade and increase market access.

Overall, the key drivers of the tuna fish market are a combination of consumer demand, economic growth, fishing regulations, environmental factors, and trade policies. Understanding these drivers is important for market players to develop effective strategies and navigate the dynamic and competitive tuna fish market.

Global Tuna Fish Market 2023–2032 (By Billion)

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Canned Tuna Segment Dominated the Tuna Fish Market in 2022

  • Based on product type, the Tuna Fish market is classified into canned tuna, frozen tuna, fresh tuna, and tuna steaks.
  • The canned tuna segment is the largest and most mature segment of the tuna fish market, leading for many years. Canned tuna is a convenient and affordable protein source popular with consumers worldwide. Canned tuna products are also shelf-stable, which makes them easy to store and transport, contributing to their widespread popularity.
  • Several factors drive the demand for canned tuna:
    • Canned tuna is a versatile ingredient in various dishes, such as sandwiches, salads, and casseroles.
    • Canned tuna is a healthy food that is low in fat and calories, high in protein and omega-3 fatty acids, and contains other essential nutrients.
    • Canned tuna is widely available and affordable, making it an accessible food option for many consumers.
  • The canned tuna segment has benefited from a long history of advertising and marketing efforts by major players in the industry, which have helped to create brand recognition and consumer loyalty. Many consumers prefer specific brands of canned tuna, which has contributed to the dominance of this segment in the market.
  • The canned tuna segment has led the tuna fish market for many years due to its versatility, affordability, widespread availability, and marketing and advertising efforts by major players in the industry.

Global Tuna Fish Market 2023–2032 (By End-use)

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Asia Pacific Dominated the Tuna Fish Market in 2022

  • The Asia Pacific region led the Tuna Fish market in 2022. The Asia Pacific tuna fish market is anticipated to witness a CAGR of around 5.5% during the forecast period.
  • The region is home to many of the largest producers and consumers of tuna fish, and it has a long history of tuna fishing and processing.
  • Several factors drive the demand for tuna fish in the Asia-Pacific region:
    • Tuna fish is a popular ingredient in many cuisines in the region, including Japanese, Thai, and Filipino cuisine, among others.
    • The region has a large and growing population, which has contributed to increasing demand for food products, including tuna fish.
    • The region has a strong tradition of seafood consumption, which has further boosted the demand for tuna fish.
  • The Asia-Pacific region is home to many of the largest producers of tuna fish, including Thailand, Indonesia, and the Philippines. These countries have significant tuna fishing fleets and processing facilities, which have contributed to the growth of the industry in the region.
  • The Asia-Pacific region has led the tuna fish market for many years due to a combination of factors, including high demand for tuna fish, a large and growing population, a strong tradition of seafood consumption, and a significant presence of tuna fishing and processing activities.

Competitive Landscape

The tuna fish market is highly competitive, with many players operating across different industry segments. The market is characterized by a mix of large multinational companies, smaller regional players, and niche players, each with strengths and weaknesses. The market is expected to remain competitive as players respond to changing consumer preferences and evolving market conditions.

  • 2022: Alcampo, a subsidiary of Auchan in Spain, has introduced sustainable canned tuna that has been MSC-certified under its private-label brand.

List of the prominent players in the global Tuna Fish Market:

  • Thai Union Group
  • Dongwon Industries
  • Bumble Bee Foods
  • StarKist Co.
  • Wild Planet Foods
  • Grupo Calvo
  • Tri Marine International
  • Crown Prince
  • Ocean Brands
  • Jealsa Rianxeira
  • Others

The global Tuna Fish Market is segmented as follows:

By Product Type

  • Canned Tuna
  • Frozen Tuna
  • Fresh Tuna
  • Tuna Steaks

By End-use

  • Retail
  • Food Service
  • Industrial

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Tuna Fish Market, (2023 – 2032) (USD Billion)
    • 2.2 Global Tuna Fish Market: snapshot
  • Chapter 3. Global Tuna Fish Market – Industry Analysis
    • 3.1 Tuna Fish Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing demand for sustainable and environmentally friendly products
      • 3.2.2 Ready-to-eat and convenience food products
      • 3.2.3 Increasing adoption of e-commerce and online retail Channels.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Product Type
      • 3.7.2 Market Attractiveness Analysis By End-use
  • Chapter 4. Global Tuna Fish Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Tuna Fish Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Tuna Fish Market – Product Type Analysis
    • 5.1 Global Tuna Fish Market Overview: By Product Type
      • 5.1.1 Global Tuna Fish Market Share, By Product Type, 2022 and 2032
    • 5.2 Canned Tuna
      • 5.2.1 Global Tuna Fish Market by Canned Tuna, 2023 – 2032 (USD Billion)
    • 5.3 Frozen Tuna
      • 5.3.1 Global Tuna Fish Market by Frozen Tuna, 2023 – 2032 (USD Billion)
    • 5.4 Fresh Tuna
      • 5.4.1 Global Tuna Fish Market by Fresh Tuna, 2023 – 2032 (USD Billion)
    • 5.5 Tuna Steaks
      • 5.5.1 Global Tuna Fish Market by Tuna Steaks, 2023 – 2032 (USD Billion)
  • Chapter 6. Global Tuna Fish Market – End-use Analysis
    • 6.1 Global Tuna Fish Market Overview: By End-use
      • 6.1.1 Global Tuna Fish Market Share, By End-use, 2022 and 2032
    • 6.2 Retail
      • 6.2.1 Global Tuna Fish Market by Retail, 2023 – 2032 (USD Billion)
    • 6.3 Food Service
      • 6.3.1 Global Tuna Fish Market by Food Service, 2023 – 2032 (USD Billion)
    • 6.4 Industrial
      • 6.4.1 Global Tuna Fish Market by Industrial, 2023 – 2032 (USD Billion)
  • Chapter 7. Tuna Fish Market – Regional Analysis
    • 7.1 Global Tuna Fish Market Regional Overview
    • 7.2 Global Tuna Fish Market Share, by Region, 2022 & 2032 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Tuna Fish Market, 2023 – 2032 (USD Billion)
        • 7.3.1.1 North America Tuna Fish Market, by Country, 2023 – 2032 (USD Billion)
    • 7.4 North America Tuna Fish Market, by Product Type, 2023 – 2032
      • 7.4.1 North America Tuna Fish Market, by Product Type, 2023 – 2032 (USD Billion)
    • 7.5 North America Tuna Fish Market, by End-use, 2023 – 2032
      • 7.5.1 North America Tuna Fish Market, by End-use, 2023 – 2032 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Tuna Fish Market, 2023 – 2032 (USD Billion)
        • 7.6.1.1 Europe Tuna Fish Market, by Country, 2023 – 2032 (USD Billion)
    • 7.7 Europe Tuna Fish Market, by Product Type, 2023 – 2032
      • 7.7.1 Europe Tuna Fish Market, by Product Type, 2023 – 2032 (USD Billion)
    • 7.8 Europe Tuna Fish Market, by End-use, 2023 – 2032
      • 7.8.1 Europe Tuna Fish Market, by End-use, 2023 – 2032 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Tuna Fish Market, 2023 – 2032 (USD Billion)
        • 7.9.1.1 Asia Pacific Tuna Fish Market, by Country, 2023 – 2032 (USD Billion)
    • 7.10 Asia Pacific Tuna Fish Market, by Product Type, 2023 – 2032
      • 7.10.1 Asia Pacific Tuna Fish Market, by Product Type, 2023 – 2032 (USD Billion)
    • 7.11 Asia Pacific Tuna Fish Market, by End-use, 2023 – 2032
      • 7.11.1 Asia Pacific Tuna Fish Market, by End-use, 2023 – 2032 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Tuna Fish Market, 2023 – 2032 (USD Billion)
        • 7.12.1.1 Latin America Tuna Fish Market, by Country, 2023 – 2032 (USD Billion)
    • 7.13 Latin America Tuna Fish Market, by Product Type, 2023 – 2032
      • 7.13.1 Latin America Tuna Fish Market, by Product Type, 2023 – 2032 (USD Billion)
    • 7.14 Latin America Tuna Fish Market, by End-use, 2023 – 2032
      • 7.14.1 Latin America Tuna Fish Market, by End-use, 2023 – 2032 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Tuna Fish Market, 2023 – 2032 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Tuna Fish Market, by Country, 2023 – 2032 (USD Billion)
    • 7.16 The Middle-East and Africa Tuna Fish Market, by Product Type, 2023 – 2032
      • 7.16.1 The Middle-East and Africa Tuna Fish Market, by Product Type, 2023 – 2032 (USD Billion)
    • 7.17 The Middle-East and Africa Tuna Fish Market, by End-use, 2023 – 2032
      • 7.17.1 The Middle-East and Africa Tuna Fish Market, by End-use, 2023 – 2032 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Thai Union Group
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Dongwon Industries
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Bumble Bee Foods
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 StarKist Co.
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Wild Planet Foods
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Grupo Calvo
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Tri Marine International
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Crown Prince
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Ocean Brands
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Jealsa Rianxeira
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Others.
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
List Of Figures

Figures No 1 to 21

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Thai Union Group
  • Dongwon Industries
  • Bumble Bee Foods
  • StarKist Co.
  • Wild Planet Foods
  • Grupo Calvo
  • Tri Marine International
  • Crown Prince
  • Ocean Brands
  • Jealsa Rianxeira
  • Others

FAQs

The key factors driving the Market are Increasing demand for sustainable and environmentally friendly products, Ready-to-eat and convenience food products And Increasing adoption of e-commerce and online retail channels.

The “Product Type” category dominated the market in 2022.

The key players in the market are Thai Union Group, Dongwon Industries, Bumble Bee Foods, StarKist Co., Wild Planet Foods, Grupo Calvo, Tri Marine International, Crown Prince, Ocean Brands, Jealsa Rianxeira, Others.

“Europe” had the largest share in the Tuna Fish Market.

The global market is projected to grow at a CAGR of 3.2% during the forecast period, 2023-2032.

The Tuna Fish Market size was valued at USD 42.3 Billion in 2022.

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