Worldwide Tuna Market to 2027 - Industry Trends, Share, Size, Growth, Opportunity and Forecasts - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Tuna Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global tuna market reached a value of US$ 40.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 48.8 Billion by 2027, exhibiting a CAGR of 3.07% during 2021-2027.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Tuna is a part of the mackerel fish family, and a very important part of the global fishing scenario. Tuna is enjoyed worldwide fresh-cooked, frozen, canned and as sushi. Almost 60% of the total tuna comes from the West and Central Pacific Ocean (WPCO). Since the all tuna catch from this region is under the custody of the Pacific Island Countries (PICs), these countries use their tuna resources as a source of developing their economies. A reason for this is that many of these countries only have their tuna population to call a resource for economic development. It is a widely bought item by end customers, restaurants and canning industries as well.

Rising demand for canned tuna represents a major reason currently driving the global tuna market. The busy schedules of people today are inviting a rapidly increasing need for ready to eat food, canned tuna being a popular choice. Europe currently dominates the global list of regions importing canned tuna. Middle Eastern countries like Saudi Arabia, Israel and Egypt have come up as some of the largest importers of tuna in the world. This has to do with the fact that import duty fees for canned tuna are very less in the Middle East.

Another reason or the popularity and demand of canned tuna is its shelf life. Many countries are developing rapidly and their natives are switching to easy to cook, long-lasting and internationally loved food items. These preferences of the people are a reason for the increasing worldwide consumption of canned tuna. With increasing health consciousness, many people are shifting from canned tuna to fresh and frozen tuna. The biggest importers of frozen and fresh tuna include China, North America and Western Europe. Even though they cost considerably higher than canned tuna, people are willing to pay, facilitating higher economic value for the worldwide tuna trade. The tuna market can only expect steadily growing value if people keep up with their food preferences.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global tuna market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type and species.

Breakup by Type:

• Canned
• Frozen
• Fresh

Based on type, the market has been segmented as canned, fresh and frozen tuna. Currently, canned tuna dominates the market, holding the largest share.

Production Breakup by Region:

• Japan
• Indonesia
• Philippines
• Taiwan P.C.
• Republic of Korea
• Spain
• Others

On the basis of tuna production worldwide, Indonesia accounts for the largest market share.

Consumption Breakup by Region:

• Japan
• USA
• Republic of Korea
• China
• Taiwan P.C.
• European Union
• Others

On the basis of end-markets of tuna, Japan represents the largest consumer.

Breakup by Species:

• Skipjack
• Yellowfin
• Albacore
• Bigeye
• Bluefin

Based on the species, Skipjack tuna dominates the total tuna market.

Key Questions Answered in This Report

1. What is the market size for the global tuna market?

2. What is the global tuna market growth?

3. What are the global tuna market drivers?

4. What are the key industry trends in the global tuna market?

5. What is the impact of COVID-19 on the global tuna market?

6. What is the global tuna market breakup by type?

7. What is the global tuna market breakup by species?

8. What are the major regions in the global tuna market?

9. Who are the key companies/players in the global tuna market?

For more information about this report visit https://www.researchandmarkets.com/r/8z9pm8