The global tuna fish market revenue was valued at USD 41.94 billion in 2023 and is projected to grow from USD 42.96 billion in 2024 to USD 54.45 billion by 2032, with a compound annual growth rate (CAGR) of 3.01% during the forecast period of 2024 to 2032.
Tuna holds a substantial share of the seafood market, as it is among the most commercially valuable fish species and plays a vital role in the marine ecosystem. The commercial tuna fishery is central to the blue economy, with seven key varieties, including Skipjack, Yellowfin, Bigeye, Pacific, Atlantic, and Southern Bluefin. Recent shifts in consumer eating patterns reflect a global demand for healthy, convenient food options, fueling interest in protein-rich choices like tuna.
This information is detailed in the *Global Tuna Fish Market, 2024-2032* report by Fortune Business Insights™.
Information Source: https://www.fortunebusinessinsights.com/muffins-market-103834
LIST OF LEADING ORGANIZATIONS PROFILED IN THE REPORT
- Bolton Group (Italy)
- Century Pacific Foods Inc. (Philippines)
- The Jealsa Rianxeira S.AU. Group (Spain)
- Grupo Albacore S.A. (Spain)
- ITOCHU Corporation (Japan)
- Thai Union Group Inc. (Thailand)
- Dongwon Enterprises Co. Ltd. (South Korea)
- IBL Ltd. (Mauritius)
- FCF Co. Ltd. (Taiwan)
- Sea Delight (U.S.)
Segments:
Skipjack Tuna to Gain Traction among Consumers due to its Rich Nutritional Value and Easy Availability
The tuna fish market is divided into segments based on species, including Skipjack, Albacore, Yellowfin, Bigeye, Bluefin, and others.
The Skipjack segment is expected to dominate the market due to its widespread availability and strong nutritional benefits. As one of the most commercially important species, Skipjack is a key ingredient in canned tuna products. According to Asia Pacific – Fish Watch, more than 70% of the total tuna catches in the Western and Central Pacific and nearly half in the Indian Ocean are Skipjack tuna. Known for its moderate cholesterol content, Skipjack is an excellent source of low-fat protein and sodium, which further drives the segment's growth.
Canned Segment Sales to Grow with Rise in Convenience Food Consumption
The tuna fish market is categorized by type into fresh, canned, and frozen products. The canned segment is expected to lead the market and maintain its dominant position throughout the forecast period. This growth is driven by rising consumer awareness of the health benefits associated with canned tuna and its convenience.
Canned tuna is rich in omega-3 fatty acids, which help lower blood pressure and cholesterol levels, as well as reduce the risk of dementia and inflammatory disorders. Furthermore, the wide availability of various canned tuna options—ranging from plain and unseasoned to prepared, grilled, and marinated varieties—continues to fuel the growth of this segment.
Report Coverage:
The research report provides both qualitative and quantitative insights into the tuna fish market, offering a thorough analysis of product types, applications, market size, and growth rates across all segments.
In addition, the report offers an in-depth look at the competitive landscape and market dynamics. Key highlights include an overview of related markets, the research methodology used, recent industry developments such as mergers and acquisitions, the regulatory environment in key countries, and major industry trends.
Drivers and Restraints:
Canned Tuna to be Widely Consumed Due to its Affordability and Longer Shelf-life
Canned tuna has seen a significant rise in global consumption in recent years, becoming a popular and affordable source of protein. Its convenience—requiring no refrigeration and being easy to transport—has played a key role in driving demand. The increasing proportion of the working population has heightened the need for processed, ready-to-cook, and ready-to-eat foods, as busy lifestyles leave less time for home cooking. This shift has particularly boosted the demand for convenience foods like canned tuna.
Europe and the Asia Pacific are currently the largest consumers of canned tuna, with its popularity also growing in several South American and Middle Eastern countries. As the demand for healthy seafood, especially processed fish, continues to rise, canned tuna sales are expected to grow due to its high protein content.
However, a growing shift toward vegetarianism, fueled by concerns such as dairy allergies and environmental issues, is negatively impacting meat and seafood sales in some regions. Companies like Beyond Meat and MorningStar Farms are expanding their portfolios with plant-based alternatives to traditional meat products, which could present challenges for growth in the tuna fish market in the coming years.
Regional Insights:
Europe holds a dominant share of the global tuna fish market, valued at USD 14.95 billion in 2022. This strong market position is driven by high per capita fish and seafood consumption and a well-established seafood industry. Consumers in the region are increasingly seeking healthy and functional foods, recognizing the health benefits these products provide for active lifestyles.
In response to growing consumer demand for functional benefits, companies are innovating their product offerings. A prime example is John West, a brand under the Thai Union Group, which launched a nutrient-rich canned tuna range in September 2021 across grocery outlets in the U.K. This new product line features three functional flavors—Energy, Heart, and Immunity—specifically targeting younger consumers who are looking for convenient, tasty food options that align with their health-conscious preferences. This trend reflects the industry's adaptation to consumer demands and the ongoing evolution of the tuna market in Europe.
Competitive Landscape:
New Product Launches by Reputed Companies to Accelerate Market Development
Key players in the tuna fish market are actively introducing innovative and exotic seafood options to meet the growing consumer demand for seafood. Manufacturers are focusing on developing products with functional benefits to attract a broader customer base. For example, in September 2021, John West, a brand under the Thai Union Group, launched a nutrient-rich canned tuna range across grocery outlets in the U.K. This new product line offers three functional flavors—Energy, Heart, and Immunity—designed to appeal to young consumers seeking convenient, flavorful, and health-conscious food choices. This initiative highlights the industry's strategic response to evolving consumer preferences and its efforts to strengthen product offerings in the competitive seafood market.
Key Industry Development:
January 2023 - Tuna fish farming startup, Next Tuna announced its partnership with Skretting, a manufacturer of feeds for farmed fish, to create dry feeds for Atlantic Bluefin tuna fish.
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