Tuna Fish Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Tuna fish refers to huge, vivacious scombroid fish species, many of which are prized as food or sport fishes and have a silvery underside and dark top.

Sizing and Forecast
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.

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Segmentation & Regional Insights
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

Europe was the largest region in the tuna fish market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global tuna fish market report during the forecast period. The regions covered in the tuna fish market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the tuna fish market report are Bolton Group, ITOCHU Corporation, Thai Union Group Inc., Dongwon Enterprises Co. Ltd., FCF Co. Ltd., Crown Prince Inc., Mitsubishi Corporation, American Tuna Company, Alliance Select Foods Inc., Wild Planet Foods Inc., Century Pacific Foods Inc., The Jealsa Rianxeira S. AU. Group, Grupo Albacore S.A., IBL Ltd., Sea Delight, Tri Marine Group, StarKist Tuna, Clover Leaf Seafoods Corp., Bumble Bee Foods LLC, Frinsa del Noroeste S.A., A.E.C. Canning Company Limited, Ocean Brands, Balfegó Group, Mareblu SRL, Fish4Ever, John West Foods, Princes Group, Bajamar, Rio Mare, Maretti

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
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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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