Canned Tuna Market Set to Grow Exponentially by 2027, Fortune Business Insights™

The global  canned tuna market  size is expected to reach USD 9.22 billion by 2027, exhibiting a CAGR of 2.26% during the forecast period. The rising consumption of packed food items and beverages will spur lucrative opportunities for the market during the forecast period, states Fortune Business Insights in a report, titled “Canned Tuna Market Size, Share & Industry Analysis, By Type (Canned Light Tuna and Canned White Tuna), Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Specialty Stores, and Online Retail), and Regional Forecast, 2020 – 2027” the market size stood at USD 7.74 billion in 2019.

The coronavirus incident has brought the world to an unprecedented stop. We understand that this health crisis has brought an unwonted effect on businesses across various . However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future

 

The report on canned tunamarket highlights:

 

·         Explanatory analysis of the impact of the COVID-19 pandemic on the market;

·         Tactical insights for crisis management;

·         All-Inclusive Evaluation of the factors affecting the market; and

·         Thorough data on all the regions and prominent players in the market

 

 

Market Driver:

 

Heavy Demand for Ready-to-Eat Food Products to Boost Growth

 

The rising consumer inclination towards ready-to-cook and ready-to-eat food products owing to the sedentary lifestyle of people in cities will have a tremendous impact on the market in the forthcoming years. The surge in the working women class will subsequently propel the growth of the market in the foreseeable future. The increasing awareness about the benefits of convenience food items such as easy to prepare, nutritious, and instant ready will fuel high demand for the market in the foreseeable future. The focus of manufacturers towards the development of innovative and best quality ready-to-eat packaged food items to serve the needs of the consumers will further enhance the potential of the market. For instance, In February 2019, Chicken of the Sea a leader of packaged seafood based in California announced the launch of a new resealable, single-serve recyclable cup of wild-caught tuna to cater to the high demand for on-the-go food among millennials.

 

Regional Analysis:

Production of Processed Food Products to Bolster Growth in North America

North America is predicted to witness an exponential growth rate during the forecast period owing to the extensive consumption of processed food products and beverages. The rising demand for convenience food and a well-established supply chain will foster the healthy growth of the market in North America. The expansion of production units of huge multinational processed companies in the U.S, Canada, and Mexico will positively affect market growth. The presence of a large migrant population in the region has led to the consumption of ready-to-eat food items.  The rise in cross-culture food consumption has fuelled demand for various cuisines Japanese and Indian cuisines such as tekkadon, sushi, and curries, which, in turn, will augur well for the market. Asia Pacific is expected to rise tremendously during the forecast period owing to the rising millennial population. The increasing demand for convenience food will contribute positively to the growth of the market in the region. The rapid urbanization and industrialization will propel the market growth in Asia Pacific.

 

Key Development:

 

April 2019: John West Foods Limited announced the launch of a new range of canned tuna-based cracker toppers as an initiative to create quick and convenient snacking alternatives along with expanding its product portfolio.

 

 

The Report Lists the Main Companies in the Canned Tuna Market:

 

·         Thai Union Group PCL (Thailand)

·         StarKist Co. (U.S.)

·         A.E.C. Canning Company Limited (Thailand)

·         American Tuna Inc. (Unites States)

·         Bumble Bee Foods LLC (United States)

·         Century Pacific Food Inc. (Philippines)

·         Crown Prince Inc. (United States)

·         GrupoAlbacora SA (Spain)

·         Wild Planet Foods Inc. (United States)

·         Golden Prize Canning Co. Ltd. (Thailand)

·         Ocean's (Canada)

·         Dongwon Enterprise Co., Ltd. (South Korea)

 

Information Source

https://www.fortunebusinessinsights.com/canned-tuna-market-103190

 

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: sales@fortunebusinessinsights.com

Connect us via Social Media Channels:

Facebook:https://www.facebook.com/FortuneBusinessInsightsPvtLtd

Twitter:https://twitter.com/FBInsightPvtLtd?s=20

LinkedIn:https://www.linkedin.com/company/fortune-business-insights/