According to the latest report by IMARC Group, titled “Tuna Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” offers a comprehensive analysis of the industry, which comprises insights on the global tuna market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global tuna market reached a value of US$ 39.3 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 47.7 Billion by 2026. Tuna is a predatory schooling fish, which is mostly discovered in the subtropical temperature waters of the Mediterranean Sea, Atlantic Ocean, and the Black Sea. It is a rich source of magnesium, fatty acids, niacin, and proteins, and its consumption offers several health benefits, such as improving the immune system and reducing blood pressure. Currently, it is commercially available in varying types, such as canned and frozen fresh.
Tuna is a saltwater fish that belongs to the Thunini tribe and is generally found in the temperate and subtropical waters of the Mediterranean Sea, Black Sea, and the Atlantic Ocean. It is enriched with vital nutrients, such as niacin, iron, proteins, magnesium, potassium, omega-3 fatty acids, and vitamin A, B6 and B12. It also offers various health benefits, such as lowering blood pressure, improving the immune system, strengthening bones, preventing the risk of cancer, assisting in weight loss and blood circulation, and inhibiting skin and kidney infections.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Tuna Market Trends:
The market is primarily driven by the rising demand for canned tuna as consumers are shifting toward ready-to-eat (RTE) food items due to their busy schedules. This can also be attributed to the prolonged shelf-life and ease of transportation of these products over longer distances. In addition, the availability of different tuna species, such as skipjack, albacore, bigeye, and yellowfin, along with the increasing trend of trying out international cuisines, is creating a positive market outlook across the globe. Moreover, there has been a significant rise in fresh and frozen tuna consumption due to the increasing health consciousness among individuals. Furthermore, due to growing environmental concerns, key players are providing Marine Stewardship Council (MSC) certified tuna, which is captured and processed using sustainable methods.
The increasing awareness amongst consumers regarding the several health benefits associated with tuna consumption represents one of the key factors primarily driving the market growth. Apart from this, the rising demand for canned tuna due to its increased shelf-life and the rapid launch of various frozen tuna products by key players are other growth-inducing factors. Other factors, such as the easy product availability through proliferating online platforms and the increasing preference for organically farmed tuna, primarily due to an enhanced focus on sustainable development, are creating a positive outlook for the market further across the globe.
Competitive Landscape with Key Players:
The competitive landscape of the market has been examined, along with the detailed profiles of the key players operating in the industry.
Some of these key players include:
- Thai Union
- Tri Marine
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global tuna market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on type and species.
Breakup by Product Type:
On the basis of the product type, the market has been classified into canned, frozen, and fresh variants. Canned tuna presently exhibits a clear dominance in the market.
Breakup by Species:
Based on the species, Skipjack accounts for the largest market share, followed by Yellowfin, Bigeye, Albacore, and Bluefin.
Production Breakup by Region:
- Taiwan P.C.
- Republic of Korea
Region-wise, Japan represents the largest consumer. Other major consumers include the USA, Republic of Korea, China, Taiwan P.C., European Union, and others. On the other hand, Japan is the third-largest producer of tuna across the globe. Indonesia, the Philippines, Taiwan P.C., the Republic of Korea, Spain and others are the other key producers.
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
This report provides a deep insight into the global tuna market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a tuna processing plant. The study analyses the processing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the tuna industry in any manner.
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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