The global canned tuna market size is projected to be worth USD 16,951.00 million by 2034. According to the estimates, the market is anticipated to exhibit a 4.80% CAGR until 2034. In 2024, the canned tuna market size is valued at USD 10,647.30 million.
| Attributes | Details |
|---|---|
| Canned Tuna Market Size, 2024 | USD 10,647.30 million |
| Canned Tuna Market Size, 2034 | USD 16,951.00 million |
| Value CAGR (2024 to 2034) | 4.80% |
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Demand for Plant-based Tuna Surges in the Market
Plant-based diets are being increasingly adopted across the world. This surge has given rise to plant-based tuna alternatives. These alternatives cater to the consumer segment focusing on sustainable, ethical, and plant-centric choices. Businesses are increasingly investing in plant-based tuna substitutes to tap into the growing demand for eco-friendly, cruelty-free options.
Vegetarians, vegans, and others trying to cut back on their use of animal products find these substitutes appealing. They are developed using substances like beans, kelp, or soy. Businesses investing in plant-based tuna help diversify product portfolios and align with prevailing market trends.
Leveraging this trend, in February 2024, Pokeworks unveiled new plant-based, sushi-grade tuna offerings in the San Fransisco Bay Area. The company later introduced these offerings in New York in March 2024.
Evolving Consumer Tastes Boosts Demand for Premium Products
Various canned tuna firms are embracing premiumization trends due to evolving consumer demands. Gourmet canned tuna and sushi-grade canned tuna are gaining popularity among various other products available in the market. As disposable income levels increase, consumers are increasingly willing to pay a premium for better quality and unique flavor profiles.
Brands are boosting their perceived value, cultivating brand loyalty, and appealing to the upscale preferences of customers looking for an exceptional culinary experience by establishing themselves as suppliers of premium alternatives.
For instance, in December 2023, Tonnino, famous for its premium yellowfin tuna available in cans and jars, launched a range of six yellowfin tins. This range also features the first-ever tuna can designed specially for kids.
Growing Inclination toward Snacking and On-the-Go Formats Presents Opportunities in the Market
The canned tuna industry can greatly benefit from the consumer trend for on-the-go consumption. Businesses can satisfy the desire for single-serve, convenient forms and gain immense popularity in the market.
The fast-paced lifestyles of today's customers looking for portable, quick-to-eat, protein-rich snacks can be addressed by these small-sized tuna pouches and cans. By focusing on a specialty that complements changing customer tastes and lifestyle choices, brands can enter this market and present themselves as suppliers of convenient and wholesome snacking options.
For instance, John West launched On-the-Go Tuna Pots in May 2022. The range features various flavors like the Indian Tuna Rice Pot-Biryani Curry. Such innovations can offer unprecedented growth to market players.
| Trends | Health and wellness trends are gaining prominence and influencing consumer preferences for food choices. Various industries, including seafood, are increasingly adopting sustainability and responsible sourcing practices. The demand for convenience and ready-to-eat food products is boosting demand for canned tuna. Businesses continually invest and innovate to launch products with new flavors and varieties. E-commerce proliferation is boosting the canned tuna market growth. |
|---|---|
| Opportunities | Brands can innovate with functional additives in canned tuna products. With a rising emphasis on sustainability, introducing zero-waste measures in canned tuna manufacturing and packaging provides immense opportunities. Adopting smart labeling technology to increase transparency in canned tuna offerings can be opportunistic. Integrating blockchain technology to improve supply chain traceability in the canned tuna industry is a strategic potential. Brands can capitalize on consumer preference for nutrient-rich convenience by carefully producing canned tuna products that are both handy and nutritionally packed. |
| Challenges | Concerns about sustainability pose difficulties for the canned tuna industry, especially concerning overfishing and destructive fishing methods. The industry still struggles with the image of packaging's negative environmental effects despite technical developments, particularly when considering plastic waste concerns. |
Principal Consultant
| Segment | Skipjack Tuna (Species Type) |
|---|---|
| Value Share (2024) | 45.6% |
Based on species type, the Skipjack tuna segment captured 45.6% of canned tuna market shares. Skipjack tuna has gradually become the norm in the canned tuna market. Skipjack is highly preferred by consumers, industry practices, and established supply chain structures because of its flavor, cost-effectiveness, and sustainability.
Skipjack tuna's short lifespan and higher development rate than other tuna species help ensure its availability yearly. This regular supply enables more dependable sourcing and production, fulfilling the year-round demand for canned tuna.
| Segment | Chunks & Solids (Form) |
|---|---|
| Value Share (2024) | 34.5% |
Based on form, the chunks and solids segment holds 34.5% of the canned tuna market shares in 2024. Consumer tastes and industry dynamics significantly influence demand for chunks and solids. As customers grow more sophisticated and adventurous in their food choices, they gravitate towards items that provide distinctive sensations and culinary experiences, which contributes to their market appeal.
Chunk and solid form are often associated with greater quality and premiumization in the canned tuna industry. Consumers view bigger, complete chunks of tuna as fresher and more premium, resulting in greater demand for these forms.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| United States | 1.7% |
| Germany | 6.7% |
| Japan | 3.4% |
| China | 4.0% |
| India | 1.3% |
The demand for canned tuna in the United States is predicted to increase at a 1.7% CAGR through 2034. Canned tuna businesses are focusing on sustainable fishing methods and sourcing. Thereby, showing their response to the rising customer awareness of environmental sustainability.
Brands are also obtaining certifications like Dolphin Safe and Marine Stewardship Council (MSC) as a show of their dedication to ethically procuring seafood. This is appealing to customers who care about the environment and look for ethically sourced, ecologically friendly items that align with their beliefs.
Canned tuna is gaining popularity as a wholesome protein option among health-conscious humans. Tuna is abundant in vitamins, minerals, and omega-3 fatty acids, which makes it a preferred option for people looking for nutritious foods. Companies are taking advantage of this trend by focusing on the health advantages of canned tuna by investing in targeted ads and strategic product placement.
The sales of canned tuna in Germany are expected to surge at a rate of 6.7%. In Germany, there is an emerging demand for sustainable, cruelty-free vegan tuna among people who follow a vegan diet. This substantiates the fact that ecologically responsible protein substitutes are a thing now in Germany. Thus, adding another dimension to the tuna market.
This is concerning for the dealers of conventional canned tuna. However, those players who take this change in course in their stride are expected to perform well in the following years.
Brands are also focusing on clean label standards and product labeling transparency to raise their market position. For this purpose, they are increasingly providing full disclosure on their sourcing, processing processes, and sustainability policies.
This bodes well with the need voiced by German customers for transparently and ethically sourced goods. This commitment to clean label standards builds brand credibility and promotes market growth by fulfilling the fastidious expectations of conscientious customers.
The Japanese canned tuna market is expected to grow by 3.4% CAGR from 2023 to 2034. Accelerating innovations in convenience and ready-to-eat canned tuna products help boost the market in Japan. Companies are embracing new package forms and value-added products to appeal to Japanese customers who lead progressively busier lifestyles.
Brands are offering easy and convenient options to have on the go, such as single-serve tuna pouches and pre-seasoned tuna salads, tuna-based snack products. This orientation to convenience aligns with the preferences of Japanese consumers toward low-fuss meal options and has also helped raise the market growth
Japanese consumers' shifting inclinations toward convenience and sustainability are influencing the market’s growth prospects. With the increasing prevalence of urbanization and hectic lifestyles, people are looking for quick meal options that don't sacrifice sustainability or quality. In response to this change, canned tuna firms are providing eco-friendly and recyclable packaging alternatives.
The demand for canned tuna in China is expected to grow at a 4% CAGR during the period from 2023 to 2034. In China, where the retail environment has been rapidly evolving and companies are deliberately trying to increase their physical presence, the sales of canned tuna have not gone off track.
Canned tuna brands have been actively seeking tie-ups with convenience shops, supermarkets, and traditional retailers in an attempt to boost their physical presence. This omnichannel strategy dovetails well with the diverse buying behavior of Chinese customers. This helps in market expansion and makes canned tuna goods more accessible.
China's urbanization and growing income levels are driving the market’s expansion, which is causing alterations in consumption patterns and eating habits. Convenient and nutritious food alternatives are in more demand as urban populations rise and disposable incomes flourish.
Having extended shelf life and being easy to prepare, canned tuna turns into an ideal product for busy urban customers who look for fast, healthy lunch options. Brands are riding this wave by targeting metropolitan areas and positioning canned tuna as a fast and diversified source of protein for modern lives.
The sales of canned tuna are expected to increase at a 1.3% CAGR through 2034. Though India is a huge seafood consumer, the demand for canned tuna is predicted to expand at a relatively lower growth rate. The market growth is driven by urbanization in India and the change in lifestyles.
As more people migrate to towns and cities to pursue a fast life, there is a growing requirement for ready-to-eat foodstuffs that can be prepared in a jiffy. Canned tuna, given its convenience factor, long shelf life, and minimum cooking time, easily fits the bill of an ideal meal for the townie. Firms consciously target advertisements in towns, touting tuna's versatility and the ease of consuming it from cans.
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The canned tuna market has a competitive environment with established industry giants and an abundance of regional businesses striving for market dominance. Global market leaders include Bumble Bee Foods, StarKist Co., and Thai Union Group, which use their enormous distribution networks, brand awareness, and economies of scale to retain a competitive advantage.
These industry leaders prioritize product innovation, sustainable sourcing, and strategic collaborations to strengthen their market position and satisfy changing customer desires for convenience and health-conscious options.
Recent Developments
The canned tuna market is valued at USD 10,647.30 million in 2024.
The canned tuna market size is estimated to increase at a 4.80% CAGR through 2034.
The canned tuna market is expected to be worth USD 16,951.00 million by 2034.
Skipjack tuna is highly preferred in the market.
German canned tuna market is predicted to expand at a 6.7% CAGR through 2034.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Tuna Species 5.1. Skipjack 5.2. Albacore 5.3. Yellowfin 5.4. Bluefin 5.5. Bigeye 5.6. Others 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Flavour 6.1. Unflavoured 6.2. Flavoured 6.2.1. Lemon 6.2.2. Picante 6.2.3. Spicy 6.2.4. Teriyaki 6.2.5. Tomato 6.2.6. Chocolate 6.2.7. Jalapeno 6.2.8. Others 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 7.1. Canned White Tuna 7.2. Canned Light Tuna 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Format 8.1. Plain 8.2. Chunk 8.3. Solid 8.4. Shredded 8.5. Flakes 8.6. Fillets 8.7. Others 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Usage Format 9.1. Ready to Cook 9.2. Ready to Eat 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel 10.1. B2B / HoReCa 10.2. B2C 10.2.1. Hypermarkets / Supermarkets 10.2.2. Convenience Stores 10.2.3. Food Specialty Stores 10.2.4. Independent Small Groceries 10.2.5. Online Retail 10.2.6. Other Retail Formats 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. Eastern Europe 11.5. South Asia and Pacific 11.6. East Asia 11.7. Middle East and Africa 12. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 17. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 18. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 19. Key Countries Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. StarKist Co. 21.2. Bumble Bee Foods, LLC 21.3. Hagoromo Foods Corporation 21.4. American Tuna, Inc. 21.5. Bolton Alimentari S.p.A. 21.6. Chicken of the Sea 21.7. Hayati Group CO., LTD. 21.8. Nostromo SpA (Calvo Group) 21.9. Organico Realfoods LTD 21.10. Kiril Mischeff Limited 22. Assumptions & Acronyms Used 23. Research Methodology
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