The global canned tuna ingredients market size is expected to expand from USD 4,500.7 million in 2023 to USD 7,689.2 million by 2033. Over the next ten years (2023 to 2033), global canned tuna ingredient sales are likely to soar at 5.5% CAGR.
Key Trends Listed by Future Market Insights (FMI):
The enterprise that produces and supplies the various components needed in the creation of canned tuna products is known as the canned tuna ingredients market. Tuna fish is processed and canned to create the well-known seafood product known as canned tuna. The market offers an extensive range of ingredients that go into the finished goods.
Consumer preferences, health considerations, sustainability concerns, and regulatory constraints all impact the market for canned tuna ingredients. Manufacturers provide a variety of product options, such as low-sodium, sustainably derived, and organic variations, to satisfy shifting consumer demands.
The benefits of tuna include its high protein, low fat, and several necessary nutrients like omega-3 fatty acids, vitamins, and minerals. These health advantages are easily accessible with canned tuna. The growing emphasis on healthy eating and the acceptance of tuna as a wholesome food source support expansion of the canned tuna ingredients market.
Consumer demand for canned tuna products originating from sustainable fishing practices has increased as a result of worries about overfishing and environmental sustainability. Responsible fishing practices are guaranteed by certifications like the Marine Stewardship Council (MSC), and consumers who care about the environment are drawn to brands that prioritize sustainability.
To meet consumer preferences, producers frequently roll out new flavors and product variations. Options for flavored canned tuna, like those with herbs, spices, or ethnic flavors, offer variety and fit a variety of tastes. Customers with particular demands have options thanks to the availability of various sizes, pack types (water-packed, oil-packed, pouches), and product shapes (chunks, flakes).
For instance, recently Vgarden launched plant-based canned tuna. Vgarden Ltd. (Gan Shmuel, Israel) has launched a plant-based canned tuna that it says offers the same appearance, texture, and flavor as animal-based canned tuna fish. New tuna-like product is clean-label, scalable, affordable, and sustainable. It also has a good nutritional profile with a total protein content of 11.2%-14%. Other ingredients include fibers and sunflower oil. Because the ingredient comes from outside the marine ecosystem, it does not include any toxic metals, microplastics, or other ocean pollutants that might be found in traditional tuna.
| Attributes | Key Insights |
|---|---|
| Estimated Global Canned Tuna Ingredients Market Size (2023E) | USD 4,500.7 million |
| Projected Canned Tuna Ingredients Market Value (2033F) | USD 7,689.2 million |
| Value-based CAGR (2023 to 2033) | 5.5% |
| Top 3 Countries’ Value | USD 2,250.1 million |
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| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 4.6% |
| Jul to Dec (H2), 2021 (A) | 5.6% |
| Jan to Jun (H1), 2022 Projected (P) | 4.9% |
| Jan to Jun (H1), 2022 Outlook (O) | 5.0% |
| Jul to Dec (H2), 2022 Outlook (O) | 6.0% |
| Jul to Dec (H2), 2022 Projected (P) | 5.7% |
| Jan to Jun (H1), 2023 Projected (P) | 5.3% |
| BPS Change: H1, 2022 (O) to H1, 2022 (P) | 80 |
| BPS Change: H1, 2022 (O) to H1, 2021 (A) | 60 |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | -30 |
| BPS Change: H2, 2022 (O) to H2, 2022 (A) | 90 |
According to the Future Market Insights (FMI) analysis, global canned tuna ingredients sales grew at a CAGR of 4.5% from 2018 to 2022. For the next ten years, the worldwide market for canned tuna ingredients is forecast to progress at 5.5% CAGR.
In emerging markets, economic prosperity and rising disposable incomes support market expansion. The demand for quick-to-eat food options like canned tuna rises as more people relocate to urban areas and lead busier lifestyles.
The industry has grown as a result of the expanding availability of canned tuna products through a variety of retail channels, including supermarkets, hypermarkets, convenience stores, and online platforms. Wider product accessibility and improved distribution networks increase customer exposure and boost market penetration.
With large exports and imports of canned tuna products globally, the canned tuna ingredients market heavily depends on international trade. Market dynamics are influenced by international trade agreements, economic variables, and preferences for particular product sources. Rich fish-resource produce countries like Thailand, Ecuador, Spain, and the Philippines are major players in the world canned tuna ingredients market.
The long shelf life and high nutritional value of canned tuna make it a popular option for emergency food supplies and disaster preparedness. As a dependable and non-perishable food source during emergencies, governments, humanitarian organizations, and private citizens stock canned tuna, which boosts market demand.
Consequently, the taste, convenience, easy availability, extended shelf life, brand recognition, and marketing & promotion of canned tuna will boost the canned tuna ingredients market during the assessment period.
| Region | North America |
|---|---|
| Country | United States |
| CAGR | 4.2% |
| BPS Analysis | 81 |
| Market Value (2033) | USD 1,170.1 million |
| Region | Europe |
|---|---|
| Country | Germany |
| CAGR | 3.3% |
| BPS Analysis | -25 |
| Market Value (2033) | USD 495.0 million |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 4.6% |
| BPS Analysis | -56 |
| Market Value (2033) | USD 1,095.1 million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 5.6% |
| BPS Analysis | -505 |
| Market Value (2033) | USD 135.0 million |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 3.6% |
| BPS Analysis | 138 |
| Market Value (2033) | USD 585.0 million |
Increasing Consumption of Seafood in China boosts the Canned Tuna Ingredients Market
As per Future Market Insights, China’s canned tuna ingredients market is expected to reach a valuation of around USD 1095.0 million by 2033. It will therefore hold a prominent value share of 70.1% in the East Asia market.
With a significant and expanding population, China has a high demand for seafood, notably tuna in cans. Consumption of seafood is shifting towards being more prevalent as disposable incomes improve and dietary preferences change. As a simple and economical source of protein, canned tuna is becoming more and more well-liked in China.
A greater focus on healthy eating has resulted from Chinese consumers' growing awareness of nutrition and health. The rising desire for nutrient-dense food options is in line with the high protein, omega-3 fatty acid, and other essential nutrient content of canned tuna. As a result, canned tuna is seen as a better source of protein than other options boosting the canned tuna ingredients market in China
Online retailing and e-commerce platforms have experienced rapid growth in China. Online retailers provide a vast selection of canned tuna items, enabling customers to easily access various brands, flavors, and varieties. The market for canned tuna in China is expanding owing in part to the convenience of online buying, home delivery options, and alluring prices.
Changing Dietary Preferences and food trends increase the Demand in the United States
According to FMI analysis, the United States canned tuna industry is poised to exhibit a CAGR of 4.2% during the assessment period. By 2033, the United States market size is expected to reach USD 1,170.1 million.
Americans are looking for quick and ready-to-eat food options due to their hectic lifestyles and limited time for dinner preparation. Due to its minimal preparation requirements and lengthy shelf life, tuna in cans offers a quick and simple solution. It is a popular option for on-the-go meals since it can be readily incorporated into a variety of cuisines, including sandwiches, salads, and pasta dishes.
The amount of seafood eaten in the United States has been rising over time. Seafood is quite popular because of its variety, taste, and nutritional value, especially canned tuna. Consumers can easily and affordably add seafood to their diets by purchasing canned tuna.
Because of the diversity of the US population and the impact of various ethnic cuisines, ingredients for canned tuna are in high demand. Tuna is a versatile component that appeals to a wide spectrum of consumers because it is frequently used in many different cuisines, including American, Asian, Latin American, and Mediterranean.
Government Initiatives and Health Campaigns Boosting Sales in India
Canned tuna ingredients demand in India is anticipated to rise at a steady CAGR of 5.6% during the forecast period from 2023 to 2033. By the end of 2033, India is likely to hold a market share of 35.3% in the South Asia market.
The Indian government has started programs to encourage wholesome eating practices and boost seafood intake. A favorable environment is created for the expansion of the canned tuna ingredients industry by campaigns emphasizing the health benefits of seafood and raising awareness of the value of a balanced diet. Government certifications and regulations also guarantee the quality and safety of the products.
The demand for canned tuna as a component in different food preparations has been influenced by the expanding food service sector, which includes restaurants, cafes, and quick-service franchises. Food service businesses have a practical and affordable alternative for adding seafood to their menu selections: canned tuna.
Because of its diverse coastal habitat, India has long incorporated seafood into its cuisine. Seafood, notably canned tuna, is becoming more and more popular as a result of its flavor, adaptability, and alleged health benefits. Indian consumers have access to and can afford canned tuna as a seafood choice.
The flavor and Texture of Yellowfin tuna is mostly used in the Canned Tuna Ingredients
Based on ingredient type, demand is expected to remain high for yellowfin tuna during the assessment period. As per Future Market Insights, with a market share of around 35.4%, the yellowfin tuna segment is projected to reach a valuation of USD 1,593.1 million in 2033.
Yellowfin tuna is known for its rich flavor and tender, slightly oily texture. It has a distinct taste that is preferred by many consumers who enjoy the stronger flavor profile of Yellowfin tuna compared to other tuna species. Its texture also holds up well in the canning process, making it suitable for canned tuna production.
Trade between nations has a significant impact on the canned tuna ingredients market. Yellowfin tuna demand is frequently driven by nations with a strong seafood culture, such as Japan, the United States, and European nations.
Tuna is a commodity that is traded on a global scale. The availability of yellowfin tuna in several markets throughout the world is guaranteed by the global supply chain, which includes fishing boats, processing plants, distributors, and retailers.
Consumer Demand and Preferences Ready-to-Eat Seafood Products become Food Processing Popular
The food processing industry segment is anticipated to thrive at 6.4% CAGR during the projection period.
The usage of canned tuna ingredients in the food processing sector is driven by consumer demand for easy, ready-to-eat seafood products, particularly canned tuna. Long shelf life, simple storage, and adaptability in a variety of recipes make canned tuna a popular alternative for consumers looking for quick and practical dinner options.
Globally, there has been an increase in the general intake of fish, especially canned tuna. The demand for seafood products is increasing due to a variety of factors, including population increase, shifting dietary habits, and rising disposable incomes. As a result, to meet this demand and satisfy consumer preferences, the food processing sector uses ingredients from canned tuna.
Food safety and quality control are highly valued in the food processing sector. To guarantee the end product's safety, freshness, and uniformity, cans of tuna ingredients are subjected to stringent quality control procedures. Preserve consumer confidence and fulfill industry standards, this entails following rules, putting excellent manufacturing practices into practice, and using high-quality ingredients.
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Leading canned tuna ingredients manufacturers are constantly launching a new range of products to meet consumer demand. They are also using strategies such as mergers & acquisitions, partnerships, distribution agreements, collaborations, advertisements, and celebrity endorsements to gain a competitive edge in the market.
For instance:
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 4,500.7 million |
| Market Forecast Value in 2033 | USD 7,689.2 million |
| Anticipated Growth Rate (2023 to 2033) | 5.5% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Volume (MT) and Value (USD Million) |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
| Key Market Segments Covered | Ingredient Type, End User, and Region |
| Key Companies Profiled | Thai Union Group; Bumble Bee Foods; Dongwon Industries; Bolton Group; Century Pacific Food; Wild Planet Foods; Grupo Calvo; Maruha Nichiro Corporation; Princes Ltd.; John West Foods; Crown Prince, Inc. |
The market is estimated to reach USD 7,689.2 million by 2033.
Bolton Group, Century Pacific Food, and Wild Planet Foods are the key market players.
The market is estimated to secure a valuation of USD 4,500.7 million in 2023.
The growth potential of the market is 5.5% through 2033.
The rising usage of beef bouillon as a flavoring drives sales.
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Canned Tuna Ingredients Market
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