Global Tuna Market

Date: 18 July 2019

According to a research report published by Azoth Analytics in June 2019, the Global Tuna Market was valued at USD 12.57 billion the year 2018. Global tuna market is expected to grow mainly due to rapid urbanization in emerging economies, growing seafood industry and increasing health awareness among consumer in developing region. In addition, ever growing urban and working population align with rising income and old population is fuelling the tuna market.
The Azoth Analytics research report titled Global Tuna Market has analysed and segmented the Tuna market By Value (USD Million). The report has also further analysed the Tuna Market By Species Type (Albacore, Skipjack Tuna, Yellowfin Tuna, Bigeye Tuna, Longtail Tuna & Bluefin Tuna), By Distribution Channel: (Direct, Indirect); By Indirect/Canning  Distribution Channel (Hypermarket/Supermarket, Specialty Stores, Online Channel, Convenience Stores & Others.). The report assess the tuna market By Region (Americas, Europe, Asia Pacific, ROW-Middle East & Africa) and By Country (U.S, Canada, Spain, France, Italy, China, Japan, Indonesia) for the historical period of 2014-2018 and the forecast period of 2019-2024.

Global Tuna Market is primarily driven by growing urbanization and shifting consumers inclinations from conventional food to seafood and learning about the major health benefits of consuming seafood has been diverting the consumer towards the consumption of tuna.
The market condition of tuna has been improving gradually. Increasing availability of tuna in vast number of food retail outlets and hypermarkets coupled with rising consumer base has been primarily driving the growth in the tuna market. Additionally, number of tuna canned processor has been witnessing significant growth. The European region holds the largest market of tuna and it is estimated that Europe will continue to hold largest market share in forecast period. However, APAC region will continue to grow with highest growth rate among the regions.
Storage of tuna in the form of canned and pouched packaging is making tuna durable and increase the life of the tuna product, while freezing can retain the natural characteristics and appearance of tuna for a longer period of time and increase the shelf life of tuna up to a period of one year making the processed market more efficient and competitive. Companies equipped with the new edge technologies for packaging and preserving will likely to gain market share in the forecast period.