Global Canned Tuna Storage Market - Drivers and Forecasts by Technavio

Technavio has published a new report on the global canned tuna market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global canned tuna market to grow at a CAGR of more than 4% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global canned tuna market for 2017-2021. The market is segmented based on species (canned albacore tuna, canned skipjack tuna, and canned yellowfin tuna) and distribution channel (supermarkets and hypermarkets, convenience stores, and online retailers).

The global canned tuna market is expected to grow during the forecast period. This is due to the increased consumption and various health benefits of tuna. In addition, other factors like an increase in trade network in various countries, rise in the number of modern retail outlets, and establishments of processed food industry globally with the development of food parks will help in the market's growth in the coming MEA during the forecast period.

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Technavio food and beverage research analysts highlight the following three factors that are contributing to the growth of the global canned tuna market:

  • Health benefits associated with the consumption of canned tuna
  • Variety of flavors in canned tuna
  • Affordability of canned tuna

Health benefits associated with the consumption of canned tuna

Various research shows that canned tuna is a rich source of omega-3 fatty acids like eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). These healthy unsaturated fats help improve blood vessel function, lower the blood pressure, and reduce the risk of various cardiovascular diseases.

Manjunath Reddy, a lead food research analyst at Technavio, says, “Canned tuna is a rich source of lean protein, as each 6-ounce portion contains 1.16 ounce of protein and less than 0.07 ounce of fat. Since protein is essential for cell growth and for maintaining muscle tissue, researchers herald tuna as a healthy protein option. Various studies show that canned tuna is rich in vitamin B, which helps prevent the liver from removing low-density lipoprotein from the blood, thereby maintaining good high-density lipoprotein levels.

Variety of flavors in canned tuna

In February 2017, Bumble Bee Seafoods launched Bumble Bee Prime Fillet Solid White Albacore Tuna in new flavors varieties: Ginger; Soy & Olive Oil; and Pesto & Olive Oil; while SAFE CATCH added new Safe Catch Elite Seasoned Tuna flavors like Chili Lime, Garlic Herb, Citrus Pepper, Cajun, Tandoori, and Habanero Mint. It is expected that more players would launch flavored canned tuna during the forecast period, which will help the market grow.

Affordability of canned tuna

Affordability is a major factor that has helped increase the demand for canned tuna. In the recent past, the import of canned tuna has increased in Eastern Europe, the Middle East, Southeast Asia, and Latin America due to the affordable pricing of the product. Retail prices of many canned tuna products by various brands are quite economical, which make them a good option for consumers.

Top vendors:

  • American Tuna
  • Bumble Bee Seafoods
  • StarKist
  • Thai Union Group
  • The Tuna Store
  • Wild Planet

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global canned tuna market to grow at a CAGR of more than 4% during the forecast period, 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com