Global Tuna Market Overview
Tuna Market Size was valued at USD 39.54 Billion in 2023.
The Tuna market industry is projected to grow from 2024 to USD 52.68 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.20% during the forecast period (2024 - 2032).
Increased seafood consumption worldwide is one of the main factors propelling the tuna market
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
GROWING GLOBAL SEAFOOD CONSUMPTION
Increased seafood consumption worldwide is one of the main factors propelling the tuna market. The demand for tuna has grown significantly as more people become aware of the health advantages of eating fish, particularly its high protein content and vital omega-3 fatty acids. Because it is a fish that is readily available and versatile, tuna is especially well-liked. As consumers choose more and more nutrient-dense foods, the market is predicted to rise as a result of their growing desire for healthy eating practices.
The growing middle class in emerging economies like China and India is one of the main causes of the increase in seafood consumption. Consumers in these areas may now afford a more varied diet that includes seafood because of rising disposable earnings. Because it's so inexpensive and so nutritious, tuna—both raw and cooked—has become a mainstay in many homes. The growing middle class and their increasing spending power and demand for a wider variety of food goods are predicted to continue propelling the growth of the tuna market. In addition, consumers with hectic schedules frequently choose canned tuna due to its versatility and ease of use. For those seeking a handy yet wholesome dinner alternative, canned tuna provides a quick, ready-to-eat, and simple meal option. Such quick-to-eat food products are becoming more and more in demand, especially in cities where time limitations heavily influence meal preparation. With more people turning to canned tuna for its usefulness and health advantages, this trend is predicted to accelerate market growth. The growing demand for tuna in the food service sector is also largely driven by the growing appeal of seafood. More and more eateries are including tuna on their menus, providing a range of options that cater to health-conscious patrons. Tuna's versatility and widespread appeal are shown by its usage in a wide range of culinary applications, from salads and sandwiches to sushi and sashimi. It is anticipated that the market will continue to rise as long as the food service sector meets the increasing demand for seafood. This growth trend is probably going to continue, supporting the sector and offering lots of room to grow.
Tuna Market Segment Insights
Tuna Species Insights
The Tuna Market segmentation, based on Species, includes Skipjack, Yellowfin, Albacore, Bigeye and Bluefin. The Skipjack segment accounted for the largest market share of 53.8% in 2023 and is likely to register a CAGR of 3.0% during the projected period. Numerous factors contribute to the expansion of the skipjack tuna segment in the global market. Skipjack is the preferred species due to its relatively low cost and mild flavor, which is a primary factor in the high demand for canned tuna. The demand for skipjack is significantly increased by the fact that canned tuna is a staple in many households worldwide, particularly in North America, Europe, and certain regions of Asia.
Figure 1: Tuna Market, by Species, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tuna Type Insights
The Tuna Market segmentation, based on Type, includes Canned, Fresh and Frozen. The Canned segment accounted for the largest market share of 53.4% in 2023 and is likely to register a CAGR of 3.1% during the projected period. The adaptability of canned tuna in culinary applications adds to its appeal. Canned tuna is a flexible component that can be used in a wide range of recipes, appealing to consumers looking for meal variety and flavor diversity. Finally, package improvements such as easy-open lids and environmentally friendly materials add to customer convenience and sustainability, driving market growth.
Figure 2: Tuna Market, by Type, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tuna End User Insights
The Tuna Market segmentation, based on End User, includes Residential/Retail and Commercial/HoReCa. The Residential/Retail segment accounted for the largest market share of 62.2% in 2023 and is likely to register a CAGR of 3.2% during the projected period. rising spending on premium fish products—such as frozen and fresh tuna steaks, which are prized by discriminating consumers for their unmatched flavor and quality—has resulted from rising disposable incomes in emerging economies. The availability of retail locations selling a broad range of tuna items grows along with economies and urbanization, which further propels market expansion. Furthermore, the growing acceptance of Internet shopping channels has made tuna items more accessible to customers, enabling them to effortlessly browse and buy a variety of options from the comfort of their own homes. E-commerce platforms boost consumer involvement and drive sales in the residential/retail market by offering comprehensive product information, reviews, and competitive prices.
Figure 3: Tuna Market, by End User, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tuna Distribution Channel Insights
The Tuna Market segmentation, based on distribution channels, includes Store Based and Non-Store Based. The Store Based segment accounted for the largest market share of 73.1% in 2023 and is likely to register a CAGR of 3.2% during the projected period. The expansion of retail infrastructure in emerging nations has a substantial impact on the growth of the store-based distribution channel. As urbanization and rising disposable incomes cause changes in consumer lives and tastes, there is a growing tendency for quick shopping experiences provided by supermarkets and hypermarkets, which drives up demand for tuna items. Moreover, the capacity of store-based retailers to use promotional methods and discounts boosts consumer engagement and sales. Marketing strategies stressing the quality, freshness, and sustainability of tuna products are also effective in attracting and retaining customers in this distribution channel. As customer preferences shift and retail landscapes change, this category is expected to remain a cornerstone of tuna product distribution worldwide.
Figure 4: Tuna Market, by distribution channel, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tuna Regional Insights
By Region, the study segments the market into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Europe Tuna market accounts for the largest market share 36.1% in 2023 and is expected to exhibit a 3.2% CAGR.
Figure 5: Tuna Market Share By Region 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America, canned tuna is still a household and restaurant staple. This ongoing popularity stems mostly from its convenience, long shelf life, and versatility in a variety of recipes such as sandwiches, salads, and casseroles. Starkist, Bumble Bee, and Chicken of the Sea dominate the canned tuna industry, offering a variety of goods from plain to flavored to meet a wide range of consumer preferences.
Aside from canned tuna, fresh and frozen tuna have a significant market share in North America, particularly in coastal regions with considerable seafood consumption. Sushi and sashimi cultures increase demand for high-quality fresh tuna, as restaurants and sushi bars source tuna for their premium meals. Yellowfin tuna, in particular, is highly regarded for its mild flavor and adaptability in both raw and cooked forms.
Asia-Pacific market value is USD 9,807.19 in 2023 and USD 16,257.46 in 2032 growing at a CAGR of 6.52% during the forecast period. Asia-Pacific includes China, Japan, India, Australia & New Zealand, South Korea, and the Rest of Asia-Pacific are all included in the analysis of the market. India continues to hold a significant share in the Tuna Market, owing to the wide consumption of Tuna among the various consumer groups. As a part of this, according to MRFR analysis, Tuna are thought to account for around 85% of the roughly Rs 2500 crore salty snack food market in India. The modest potato chip, which appeals to both young and old, has proved more effective than any exotic product in capturing the Indian market. Branded chips taste amazing and appear to be less greasy. Furthermore, the increasing government support to strengthen the potato chip sector coupled with the growing expansion policies adopted by key players across the region is expected to open huge opportunities for its market growth in the upcoming years.
Europe has a substantial impact on the worldwide tuna market because of a combination of consumption habits, trade dynamics, and regulatory frameworks that shape its industry environment. Tuna plays an important role in European cuisine, with both canned and fresh versions being extensively consumed across the continent. Canned tuna is quite popular in Europe due to its ease and long shelf life. It is a common ingredient in sandwiches, salads, and pasta meals. Brands such as John West, Rio Mare, and Princes dominate the canned tuna industry in Europe, offering a variety of alternatives such as tuna in oil, brine, or with added flavors to meet a wide range of consumer tastes.
Asia Pacific is both a big consumer and producer of tuna. Thailand, Indonesia, the Philippines, and Vietnam are among the world's leading tuna producers, supplying both home and international markets. These countries frequently engage in tuna fishing, processing, and canning businesses, which benefit local economies and contribute to worldwide supply networks. The region's regulatory system differs by country, although it generally prioritizes sustainable fishing techniques and resource management. Organizations such as the Western and Central Pacific Fisheries Commission (WCPFC) are crucial in controlling tuna populations and maintaining sustainable harvesting techniques throughout the Pacific Ocean, a key tuna fishing zone.
Tuna Key Market Players & Competitive Insights
The global radiation oncology market is projected to register a CAGR of 3.2% during the forecast period. The Tuna Market is highly competitive, with strong demand and different consumption patterns across regions. Leading companies such as Thai Union Group, Bumble Bee Foods, and Dongwon Industries dominate the business, relying on large supply chains and modern processing capabilities to maintain market share. These companies specialize in canned and fresh tuna goods, catering to different consumer demands for convenience and quality. As environmental concerns and regulatory demands mount, innovations in sustainable fishing practices and eco-friendly packaging become even more important. Smaller, regional firms also play an important role, especially in local marketplaces where they can provide fresh, locally produced goods. In these marketplaces, distinction frequently stems from branding and the capacity to cater to specific consumer tastes. The market is further divided by product type, which includes skipjack, yellowfin, and bluefin tuna, each with their own pricing point and market demand. Price volatility, affected by factors such as maritime conditions and fuel costs, continues to pose a substantial issue for industry participants. E-commerce and direct-to-consumer sales channels are emerging as key trends, allowing businesses to access a larger audience while also providing traceability and transparency, both of which customers increasingly desire.
Key Companies in the Tuna market include
Tuna Industry Developments
June 2023: Bumble Bee Seafoods is expanding its award-winning portfolio of canned, pouched, and kit-based high-quality tuna products with 12 new additions to retail store shelves, all available today. Many of the new goods and line extensions will be available nationally at major stores.is expanding its award-winning portfolio of canned, pouched, and kit-based high-quality tuna products with 12 new additions to retail store shelves, all available today. Many of the new goods and line extensions will be available nationally at major stores.
Sept 2023: Dongwon Group, South Korea's premier seafood and logistics business, has pledged to buy HMM Co., the country's largest container ship operator, which is up for sale.
Aug 2021: Italy's Bolton Group has announced the acquisition of Wild Planet Foods, a pioneer and innovator in the US sustainable canned fish sector. This arrangement followed the acquisition of Tri Marine in 2019, which is one of the world's leading companies in the sustainable tuna supply chain.
Tuna Market Segmentation
Tuna Species Outlook
Tuna Type Outlook
Tuna End User Outlook
Tuna Distribution Channel Outlook
Tuna Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 39.54 Billion |
| Market Size 2032 | USD 52.68 Billion |
| Compound Annual Growth Rate (CAGR) | 3.20% (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2018-2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Species, Type, End User, Distribution Channel, Region |
| Geographies Covered | North America, Europe, Asia Pacific, South America, and the Middle East & Africa. |
| Countries Covered | USA, Canada, Mexico, UK, Germany, France, Italy Spain, Russia, China, India, Japan, South Korea, Australia & New Zealand, Brazil, Argentina, South Africa, Turkey, GCC countries. |
| Key Companies Profiled | Bolton Group, Century Pacific Food, Inc. (CNPF), Salica Industria Alimentaria, American Tuna, Frinsa, Golden Prize Canning Co., Ltd., Bumble Bee Foods, LLC, Dongwon Group, Crown Prince, Inc., Monsoon Fisheries, among others |
| Key Market Opportunities | ·        Eco-friendly fishing practices ·        Rise of e-commerce and digital marketing |
| Key Market Dynamics | ·        Rising awareness of the health benefits of fish ·        Growing global seafood consumption |
Frequently Asked Questions (FAQ) :
The Tuna market accounted for USD 39.54 Billion.
Rising awareness of the health benefits of fish and growing global seafood consumption.
The growth rate of the Tuna market is 3.20% CAGR.
Europe region held the largest market share in the Tuna market.
Bolton Group, Century Pacific Food, Inc. (CNPF), Salica Industria Alimentaria, American Tuna, Frinsa, Golden Prize Canning Co., Ltd., Bumble Bee Foods, LLC, Dongwon Group, Crown Prince, Inc., Monsoon Fisheries, among others are the key players in the Tuna market.
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Research Analyst Harshita post graduate mba in business administration from welingkar institute, mumbai and 5 years of experience in the field of product market research. as a research analyst, i have cross-domain experience in packaging, and industrial automation & equipment. i am currently looking after the research process of packaging, logistics & transportation, and industrial automation & equipment at market research future reports. my responsibilities at the organization involve handling syndicate and custom reports as well as responding to client inquiries, and organize, co-ordinate with a group of 5 to 6 persons to manage all workflows.
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