LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global canned tuna market to grow at a CAGR close to 5% during the forecast period, according to their latest market research report.
Growth prospects in e-commerce is one of the major trends being witnessed in the global canned tuna market 2018-2022. With the rising popularity of e-commerce businesses, there is huge potential for players to increase their profitability. Customers prefer online shopping as it enables them to avoid time-consuming journeys and billing queues. This changing trend has encouraged numerous companies to focus on the new internet-savvy customers and venture into the growing retail format. This mode of business helps players save on operating costs, which are lower in the online retail format as compared to the physical store format. The e-commerce platform which is convenient for consumers as well as retailers is boosting the growth of the canned tuna market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global canned tuna market is the rising awareness of the health benefits of tuna:
Global canned tuna market: Rising awareness of the health benefits of tuna
Canned tuna is an easy source of essential nutrients, such as omega-3 fatty acids; high quality lean protein; healthy fat; and important vitamins and minerals, such as selenium and vitamin D. Omega-3 fatty acids, contribute to good heart health by decreasing blood triglyceride levels, slowing the build-up of plaques that contribute to the hardening of arteries, lowering blood pressure, and reducing the risk of abnormal heart rhythms that can lead to sudden death. Apart from omega-3 acids, tuna is one of the few naturally rich sources of vitamin D. Vitamin D helps maintain normal blood levels of calcium and phosphorus. It helps to build and maintain strong bones and prevents rickets and osteomalacia. It also prevents certain types of cancer and diabetes. Also, such nutrients are important during pregnancy and for a healthy heart and brain. Therefore, with increasing awareness of the health benefits of tuna, the market for canned tuna is expected to register a positive outlook during the forecast period.
According to a senior analyst at Technavio, “Apart from rising awareness of health benefits, other factors such as increasing export and import, new product launches and growing demand for processed sea food is expected to boost the growth of the global canned tuna market.”
Global canned tuna market: Segmentation analysis
The global canned tuna market research report provides market segmentation by product (Canned skipjack tuna, canned yellowfin tuna, canned albacore tuna, other canned tuna), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The EMEA region held the largest share of the market in 2017, accounting for close to 50% share, followed by the Americas and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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