Canned Tuna Market: Overview
Canning of food product is a method of preserving food in which the food contents are processed under controlled atmosphere and conditions and sealed in an airtight container. Canning helps in increasing shelf life of a product typically ranging from one to five years, although under specific circumstances it can be much longer than that. Tuna fish has been widely popular since it has a specific taste along with various health benefits that lures the masses. Canned tuna was perceived in order to increase its shelf life plus feasibility to store it and import it to another countries where tuna fish is not easily available owing to lack of resources. Rising popularity of canned tuna among consumers will put the market on necessary thrust and escalate the market CAGR of canned tuna market.
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Canned Tuna Market: Drivers & Restraints
Canned tuna has been gaining popularity amongst the masses due to the fact that such canned tuna are processed to be consumed with or without other food items. Tuna fish provides various health benefits for which it has gained significant popularity amongst it consumers. Health benefits such as enhances heart health, controls blood pressure, helps in growth and development, assist in weight loss and obesity, boost immune system, fire up energy levels, increases blood circulation, cancer prevention, reduces probability of kidney diseases, reduce inflammation, cell membrane damage are associated with consumption of tuna fish. Increase in trade network among various nations. Rise in modern retail outlets, establishments of processed food industry across countries with development of food parks. Increase in investments by budding entrepreneurs in processed food industry are few of the viable factors which is driving the canned tuna market.
Recent research study has revealed that canned tuna consumption can be hazardous to one’s health, illegal fishing of tuna, depletion in tuna population are few possible restraint which can affect the growth of canned tuna market.
Canned Tuna Market: Market Segmentation
The canned tuna market is segmented into four parts based on the product type, distribution channels, and geography. Few possible health benefits which canned tuna fish provides
Based on the product type the canned tuna market is segmented into:
- Albacore Tuna
- Skipjack Tuna
- Yellowfin Tuna
- Bigeye Tuna
- Bluefin Tuna
Based on the type of distribution channels canned tuna market is segmented into:
- Internet Retailing
- Mass Retailers
- Direct Selling
Canned Tuna Market: Regional Outlook
Regarding geography, canned tuna market has been categorized into five key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. North America is anticipated to witness canned tuna market to register a healthy CAGR during the forecast period. This is due to the very fact that packaged food has a strong demand in North America due to the prevalence of culture where such foods are preferred and moreover canned tuna has been a staple food for North American dwellers. Asia-Pacific represents the significantly higher market share next to North America over the forecast period. Countries in APEJ such as India, China, and Thailand are witnessing significantly higher demand for canned tunas due to increase in consumption of canned tunas among the masses. Western Europe stands next to APEJ for canned tuna market, where the consumers prefers canned tunas for breakfast and salads Eastern Europe has a similar trend alike Western Europe. Japan has been a strong market for canned tuna. The population of Japan have a special liking towards fish and sea products owing to its geography and canned tuna has been one of the favorites for Japanese. MEA and Latin America has also been witnessing affinity for canned tuna and over the forecast period the market of canned tuna will gain significant share in these regions.
Canned tuna Market: Key Players
Some of the key players identified in the canned tuna market are:-
- Wild Planet
- AMERICAN TUNA INC
- The Tuna Store LLC
- Trader Joe
- Safeway Inc.
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