Canned Tuna Market will exhibit a CAGR of 2.26% during the forecast period, and reach USD USD 9.22 billion by 2027,and the market value as per 2019 was USD 7.74 billion.
Fortune Business Insights™ titled, “Canned Tuna Market Size, Share & Covid-19 Impact 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,”
Canned Tuna Market Drivers and Restraint :
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.
List of Significant Canned Tuna Market Manufacturers are as follows:
- Thai Union Group PCL (Thailand)
- StarKist Co. (U.S.)
- 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)
- Grupo Albacora SA (Spain)
- Wild Planet Foods Inc. (United States)
- Golden Prize Canning Co. Ltd. (Thailand)
- Ocean’s (Canada)
- Dongwon Enterprise Co., Ltd. (South Korea)
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Some of the key industry developments in the Canned Tuna Market Include:
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.