Canned Tuna Market Size Analysis, Share, Growth Potential to 2026 | Research Report by Fortune Business Insights™
Canned Tuna Market size is
expected to reach USD 9.22 billion by 2027, exhibiting a CAGR of 2.26% during
the forecast period. The rising consumption of packed food items and beverages
will spur lucrative opportunities for the market during the forecast period.
Fortune Business Insights in a report,
titled “Canned Tuna Market Size,
Share & Covid-19 Impact Analysis, By Type (Canned Light Tuna and Canned
White Tuna), Distribution Channel (Supermarket/Hypermarket, Convenience Stores,
Specialty Stores, and Online Retail), and Regional Forecast, 2020 – 2027” the
market size stood at USD 7.74 billion in 2019.
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The report on canned tuna industry
highlights:
- Explanatory analysis of the impact of the COVID-19 pandemic on the
market;
- Tactical insights for crisis management;
- All-Inclusive Evaluation of the factors affecting the market; and
- Thorough data on all the regions and prominent players in the
market
Market Driver:
Heavy Demand for Ready-to-Eat Food
Products to Boost Growth
The rising consumer inclination towards
ready-to-cook and ready-to-eat food products owing to the sedentary lifestyle
of people in cities will have a tremendous impact on the market in the
forthcoming years. The surge in the working women class will subsequently
propel the growth of the market in the foreseeable future. The increasing
awareness about the benefits of convenience food items such as easy to prepare,
nutritious, and instant ready will fuel high demand for the market in the
foreseeable future. The focus of manufacturers towards the development of
innovative and best quality ready-to-eat packaged food items to serve the needs
of the consumers will further enhance the potential of the market. For
instance, In February 2019, Chicken of the Sea a leader of packaged seafood
based in California announced the launch of a new resealable, single-serve
recyclable cup of wild-caught tuna to cater to the high demand for on-the-go
food among millennials.
List of the Leading Companies Operating
in the Canned Tuna Market are:
- Thai Union Group PCL (Thailand)
- StarKist Co. (U.S.)
- A.E.C. Canning Company Limited (Thailand)
- American Tuna Inc. (Unites States)
- Bumble Bee Foods LLC (United States)
- Century Pacific Food Inc. (Philippines)
- Crown Prince Inc. (United States)
- Grupo Albacora SA (Spain)
- Wild Planet Foods Inc. (United States)
- Golden Prize Canning Co. Ltd. (Thailand)
- Ocean's (Canada)
- Dongwon Enterprise Co., Ltd. (South Korea)
Regional Analysis:
Production of Processed Food Products
to Bolster Growth in North America
North America is predicted to witness
an exponential growth rate during the forecast period owing to the extensive
consumption of processed food products and beverages. The rising demand for
convenience food and a well-established supply chain will foster the healthy
growth of the market in North America. The expansion of production units of
huge multinational processed companies in the U.S, Canada, and Mexico will
positively affect market growth. The presence of a large migrant population in
the region has led to the consumption of ready-to-eat food items. The
rise in cross-culture food consumption has fuelled demand for various cuisines
Japanese and Indian cuisines such as tekkadon, sushi, and curries, which, in
turn, will augur well for the market. Asia Pacific is expected to rise
tremendously during the forecast period owing to the rising millennial
population. The increasing demand for convenience food will contribute
positively to the growth of the market in the region. The rapid urbanization
and industrialization will propel the market growth in Asia Pacific.
Gain More Insights into the Canned Tuna
Market Research Report:
https://www.fortunebusinessinsights.com/canned-tuna-market-103190
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Supply Chain & Regulatory Analysis
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Partnerships, New
Type Launches, and Mergers & Acquisitions
- Global Canned Tuna Market Analysis, Insights and Forecast,
2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Canned Light Tuna
- Canned White Tuna
- By Distribution Channel
- Hypermarket/Supermarkets
- Specialty Stores
- Online Retail
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- North America Canned Tuna Market Analysis, Insights and Forecast,
2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Canned Light Tuna
- Canned White Tuna
- By Distribution Channel
- Hypermarket/Supermarkets
- Specialty Stores
- Online Retail
- By Country
- U.S
- Canada
- Mexico
Key Development:
April 2019: John West Foods Limited announced the launch of a
new range of canned tuna-based cracker toppers as an initiative to create quick
and convenient snacking alternatives along with expanding its product portfolio.
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