The global packaged tuna market size was valued at USD 13.74 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. Shifting consumer preferences for seafood in various cuisines on account of it being a rich source of essential proteins, vitamins, and minerals is expected to be a key factor driving the market growth. Tuna is a popular fish diet widely consumed around the world. It is a high-value fish, prized for its meat rich in protein, omega-3 fatty acids, and other nutrients. A variety of dishes, including sushi, sashimi, salads, sandwiches, and canned products use tuna as their main ingredient.
The COVID-19 pandemic had a significant impact on the market, both in terms of production and consumption. The pandemic caused disruptions in the global supply chain, which affected the production and distribution of products. Restrictions on travel and movement of goods resulted in delays in shipments, causing a shortage of tuna in some markets. For instance, in March 2020, Thailand, the world's largest canned tuna producing country, temporarily suspended fishing operations due to the pandemic, leading to a shortage of tuna raw materials and an increase in prices.
However, the pandemic led to significant changes in consumer behavior, with more people staying at home and cooking their meals. This increased the demand for canned and frozen products, which have a longer shelf life and can be stored for longer periods. Owing to this there was an increase in the online sales of tuna products as consumers turned to e-commerce platforms to purchase food during the pandemic. During the same period, many seafood companies, such as Bumble Bee Foods, LLC, and Chicken of the Sea, shifted to online platforms and reported an increase in online sales and home delivery services. Furthermore, the closure of restaurants, cafes, and other food service establishments resulted in a decline in the demand for fresh and frozen tuna products, typically used in these establishments. For instance, by the spring of 2021, the National Restaurant Association reported the closure of 90,000 restaurants in the U.S., both permanent and temporary, which included cafes, diners, chain outlets, bars, taverns, and neighborhood restaurants.
Japan, European countries, and the U.S. are among the largest tuna fish consumers in the world. In recent years, the popularity of tuna increased in the Middle East & Africa, and Central and South American regions. Vietnam’s export of tuna in the MEA region has increased in recent years. In 2021, Vietnam’s Ministry of Agriculture and Rural Development noted Israel as Vietnam’s second-largest importer after the U.S. This significant demand for tuna fish in major global markets is likely to translate into high market growth.
Over the years and even today, canned tuna is the most consumed form in the world. However, over the last few years, the trend of shelf-stable seafood is significantly increasing in major parts of Europe, which has fueled the demand for pouched tuna rather than canned one. The popularity of pouched tuna instead of canned packaging has witnessed a steep rise due to the increasing demand for ready-to-eat foods across Europe. These market trends are increasing the opportunities for the market globally.
The market is largely dominated by a handful of large companies, including major seafood processors and distributors, and fishing fleets from countries such as Japan, the U.S., Spain, and Thailand. These companies often compete fiercely for access to fishing grounds and markets, leading to price volatility and market disruption.
In recent years, there have been increasing concerns about the sustainability of the tuna industry, as overfishing, bycatch, and other environmental issues have threatened the long-term viability of the global tuna population. As a result, many companies and organizations have implemented sustainable fishing practices and certification programs to ensure the continued availability of tuna for future generations. In addition, major players and new entrants are launching diverse products in the market.
For instance, in January 2023, Vgarden, an Israeli food technology company, introduced a plant-based tuna alternative for the worldwide business-to-business (B2B) food sector. Without the scales and fins of its canned fish counterpart, the canned vegan product has the same texture, flavor, aroma, and appearance. These market trends are anticipated to propel the global market over the forecast period.
Fish and other seafood are generally perceived as healthy and nutritious, with many health benefits associated with their consumption. As a result, the demand for seafood has been growing steadily in many parts of the world, particularly in emerging markets such as China, India, and Southeast Asia. In addition, the popularity of seafood has been boosted by a growing awareness of the environmental benefits of eating seafood, as it is generally considered a more sustainable and environmentally-friendly source of protein than many other animal-based foods. However, supply and demand, fishing regulations, environmental concerns, and geopolitical events heavily influence the global market.
The canned segment dominated the market and held a share of over 65% in 2022 and is expected to remain the leading segment over the forecast period. The growing interest in canned seafood among younger consumers reflects changing attitudes toward convenience, sustainability, and health. According to an article published in the Wall Street Journal, U.S. sales of canned seafood reached USD 2.7 billion in 2022, reporting a 9.7% increase. The surge in demand can be attributed to younger consumers who are seeking new but affordable foods.
The pouches segment is expected to grow with a higher CAGR of 5.6% over the forecast period from 2023 to 2030. The preference for pouches has been rapidly increasing among consumers and this is driving companies like StarKist, Chicken of the Sea, and Bumble Bee to roll out tuna fish in vacuum-packed pouches. Improved packaging is expected to be key for the shelf-stable tuna industry. Many consumers appreciate the convenience and portability of pouched packaged products, making them a popular choice for people on the go or with busy schedules. Additionally, the flexible pouch packaging is viewed as more environment-friendly as compared to traditional metal cans. The sales of pouched tuna will continue to grow as more people become aware of its benefits and incorporate it into their meals.
The hypermarkets & supermarkets segment dominated the market and held a share of approximately 30% in 2022. A variety of products is offered to customers by numerous local and international brands through hypermarkets & supermarkets. Hypermarkets & supermarkets are easily accessible to consumers as they are located in central parts of the city and attract a large crowd. Consumers generally tend to buy grocery products through such channels as it provides them with the option of numerous brands to choose from. Moreover, these channels allow the consumers to physically verify the products thus contributing to the higher share of the segment.
The online distribution channel is expected to grow at the highest CAGR of 10.0% over the forecast period. Immense growth has been observed in the online distribution channel for the past few years. Online channels offer conveniences such as on-door delivery, availability of a wide range of products on a single platform, high discounts, and easy payment methods, among others.
Owing to these conveniences preference of consumers is shifting towards online channels. Moreover, the outbreak of the COVID-19 pandemic further triggered the growth of online channels as consumers were engaging in grocery shopping through online channels owing to lockdowns and restrictions.
Europe dominated the market with a share of approximately 35% in 2022 and is expected to remain in the lead. It is anticipated to grow with a significant CAGR of 4.9% over the forecast period. Europe is the largest consumer of tuna fish across the globe. According to a study conducted by the European Market Observatory for Fisheries and Aquaculture Products (EUMOFA), tuna is the most consumed seafood in Europe, followed by cod, salmon, and Alaska Pollock.
According to The European Commission for Oceans and fisheries, the amount of fish and seafood items consumed at home by Europeans increased in 2021. Europe saw a 7% increase in household expenditure on fish and seafood from 2020. The consumption of this fish has also been increasing owing to rising health awareness and the growing trend of eating healthy seafood. These trends are promoting the market in the region.
Asia Pacific is expected to grow with the fastest CAGR of 5.3% over the forecast period from 2023 to 2030. Asia Pacific is one of the largest consumers as well as producers of tuna fish in the world. The majority of canned tuna production is concentrated in Southeast Asia in countries such as Thailand, the Philippines, Indonesia, and Vietnam. The world’s major portion of fresh and processed tuna is produced and exported from these countries. These significant markets for tuna production and processing are offering lucrative opportunities to the players in this region. As Asia Pacific is one of the largest producers of tuna; companies operating in the region are planning to expand to other parts of the world. This trend is creating new opportunities for the regional market; hence, high market growth is expected over the forecast period.
Key players operating in the market are adopting various steps to increase their presence in the market. These steps include strategies such as partnerships, mergers & acquisitions, development & launch of new products, global expansion, redesigning their packaging, and others. Some of these initiatives include the following:
In November 2022, Thai Union Group acquired a 50% share in leading Icelandic cod liver company Aegir. This step was aimed at strengthening the lucrative partnership Aegir has established with Thai Union's brands throughout Europe
In March 2022, the Thai Union Group partnered with Sustainable Fisheries Partnership (SFP) to increase supply chain transparency and consider its wider effects on biodiversity. The agreement with SFP, an organization committed to fostering a sustainable seafood economy and providing wholesome marine and aquatic ecosystems, will enable the audit of the Thai Union's supply chain.
In January 2022, The Vuelca Fácil convenient container, which enables 100% of the product to be easily extracted by flipping the can and without the need for a fork, won the InnovaCción 2022 Award in the Best Food and Beverage Packaging category.
Some prominent players in the global packaged tuna market include:
FRINSA DEL NOROESTE, S.A.,
Thai Union Group PCL
Bumble Bee Foods, LLC
Century Pacific Food Inc.
Wild Planet Foods Inc.
PT. Aneka Tuna Indonesia
American Tuna Inc.
Market size value in 2023
USD 14.43 billion
Revenue forecast in 2030
USD 20.61 billion
CAGR of 5.2% from 2023 to 2030
Base year for estimation
2018 - 2021
2023 - 2030
Revenue in USD million, CAGR from 2023 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Form, distribution channel, region
North America; Europe; Asia Pacific;Central & South America; Middle East & Africa
U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; Japan; India; Brazil; South Africa
Key companies profiled
FRINSA DEL NOROESTE, S.A.; Thai Union Group PCL; Bumble Bee Foods, LLC; Century Pacific Food Inc.; Jealsa; Grupo Calvo; Wild Planet Foods Inc.; PT. Aneka Tuna Indonesia; American Tuna Inc.; Ocean Brands
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segment from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global packaged tuna market report based on form, distribution channel, and region:
Form Outlook (Revenue, USD Million, 2018 - 2030)
Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
Hypermarkets & Supermarkets
Regional Outlook (Revenue, USD Million, 2018 - 2030)
Central & South America
Middle East & Africa
b. The global packaged tuna market size was estimated at USD 13.74 billion in 2022 and is expected to reach USD 14.43 billion in 2023.
b. The global packaged tuna market is expected to grow at a compound annual growth rate of 5.2% from 2023 to 2030 to reach USD 20.61 billion by 2030.
b. Europe dominated the packaged tuna market with a share of 34.86% in 2022. This is attributed to the consumption of this fish owing to rising health awareness and the growing trend of eating healthy seafood.
b. Some key players operating in the packaged tuna market include FRINSA DEL NOROESTE, S.A.; Thai Union Group PCL; Bumble Bee Foods, LLC; Century Pacific Food Inc.; Jealsa; Grupo Calvo; Wild Planet Foods Inc.; PT. Aneka Tuna Indonesia; American Tuna Inc.; and Ocean Brands.
b. Shifting consumer preferences for seafood in various cuisines on account of being a rich source of essential proteins, vitamins, and minerals along with rising demand for packaged tuna in emerging economies owing to various health benefits are the primary factors driving the market growth.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
"The quality of research they have done for us has been excellent."