As per the report by Grand View Research Inc., the global Canned Tuna Market estimated at USD 11.89billion by 2027. It is expected to develop by 4.7% CAGR from 2020 to 2027. The increasing acceptance of seafood among the customers is estimated to be the important factor for the development of the market for canned tuna. Furthermore, excellent dietary properties, along with superb flavor and quality linked with the tuna class are likely to increase the extent of the market, during the near future. The global customers are adding canned tuna in their every day food, because it possesses essential dietetic properties plus fantastic tang and outstanding experience of the seafood.
Canned tuna is extensively utilized in the numerous dishes, for everyday consumption in addition to the fancy foods such as pasta, burgers, sandwiches, salads, sushi, croquette and tacos. These dishes are simple to cook at home in lesser time. Hence, these are extremely appreciated by the customers, who prefer home based meat food. The inclination of these customers is expected to increase the demand for the canned tuna, globally, during the period of forecast.
Changing inclination of the customers for the seafood, in a variety of cuisines, owing to the rich source of essential minerals, proteins and vitamins, are projected to be the important factor, powering the development of the market for the canned tuna.
The U.S. and the European nations are the biggest customers of the canned tuna. South Korea, Japan and Australia are too leading in the utilization plan of the canned tuna. But, the bulk of the tuna industry, particularly the sector of the canned tuna is supplied to a number of Asian nations because the class of the fish is exceptional.
On the other hand, tuna is one of the best five largely preferred seafood items, globally. During the current years the business of tuna is observing a swing because of the growing production, the price war and alteration to technology plus changing requirements of the customers.
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Effect of Covid-19:
The eruption of Covid-19 pandemic has resulted in increasing demand for the canned tuna because the customers get ready against the global effect of the pandemic. The demand has considerably augmented in the U.S. customers; they are purchasing canned tuna, increasingly, because it is the low priced source of the protein along with high shelf life. These inclinations of the customers are expected to increase the demand for the canned tuna, during the period of the forecast.
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Further findings from the report suggest:
- The biggest delivery network was the supermarkets and hypermarkets. This sector, hold above 60.0% volume share, in 2019. It is projected to retain the leadership during the period of the forecast.
- The skipjack segment by product, held the main share of the quantity; it was above 55.0% in 2019. Excellent dietetic properties, linked with this variety, are expected to develop the sector, during the period of the forecast.
- The sector of yellow fin product is expected to observe the speedy development by a revenue centered 5.0% CAGR during the period of the forecast. Due to their exceptional feel and the splendid flavor, these products are getting recognition between the customers.
- The Middle East & Africa is projected to be the speedily developing region by a revenue centered 5.6% CAGR, during the period of forecast. The intact prospective of African and Middle Eastern nations, comprising Egypt and Saudi Arabia, is estimated to remain an encouraging factor for the development of the regional market for canned tuna.
Some of the companies for Canned Tuna Market are:
- Ocean Brands
- PT. Aneka Tuna Indonesia
- Grupo Calvo
- Century Pacific Food Inc.
- Thai Union Group PCL
- American Tuna Inc.
- Wild Planet Foods Inc.
- Bumble Bee Foods LLC
- Frinsa Del Noroeste S.A.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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