Global Tuna Fish Market Size 2024, Forecast To 2033
6 Mar, 2024
The tuna fish market has experienced steady growth, ascending from $34.23 billion in 2023 to $35.38 billion in 2024, marking a compound annual growth rate (CAGR) of 3.4%. The historical growth is linked to increased consumer awareness of health benefits, heightened demand for seafood products, global population growth and urbanization, expanding middle-class population, and the globalization of supply chains. Looking ahead to 2028, the tuna fish market is poised for continuous steady growth, projecting a market size of $40.04 billion with a CAGR of 3.1%. Contributing factors in the forecast period include sustained emphasis on healthy eating, innovations in packaging and convenience, sustainable fishing practices and certification, rising demand for ready-to-eat foods, and the expansion of seafood retail channels. Major trends include regulatory changes, the effects of climate change, health and nutrition trends, global supply chain disruptions, and the growth of retail and e-commerce, along with cultural and regional preferences.
Global Tuna Fish Market Key Driver
The significant rise in tuna consumption is poised to significantly contribute to the growth of the tuna fish market. Tuna fish, comprising seven species of oceanic fishes with high commercial value, is sought after for its nutritional benefits, convenience, and versatility in cooking. With omega-3 fatty acids, protein, and other essential nutrients, tuna is a popular food choice. According to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) in 2022, the production value of tuna fish increased from $165 million in 2021 to $169 million. This surge in production reflects the increasing demand for tuna consumption, positioning it as a key driver for the growth of the tuna fish market. Examining market sizes for 2023, 2024, and 2028 will provide valuable insights into the expanding tuna fish market.
Get A Free Sample Of The Global Tuna Fish Market ReportGlobal Tuna Fish Market Segments
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
By Geography:The regions covered in the tuna fish market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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
Major Tuna Fish Industry Players
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
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Tuna Fish Market Overview
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.
Tuna Fish Global Market Report 2023 provides data on the global tuna fish market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The tuna fish market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.